Several months ago workers were busy scraping a layer of stucco that had covered the wood siding of an Echo Park bungalow being renovated by house flipper and designer Alexandra Becket and Greg Steinberg of ModOp Design. With the stucco removed and the siding repaired as part of a major overhaul, the 89-year-old house in the 2200 block of Reservoir Street went up for sale at $749,000 (the price includes a separate, rear apartment). Not many old house owners are willing to spend the time and effort to “de-stucco” their houses to bring back some of the original features. Steinberg, in an interview with the Take Sunset blog, describes some of the costs involved:
One of the biggest expenses in construction are the dump fees and stucco weighs a lot so that added up in terms of cost. In addition, most remodelers use composite siding in order to match the original. In the many places where it needed to be repaired, we used redwood siding to match the original from 1923, which was an additional cost.
Now, the question is how much of a de-stucco premium is a buyer willing to pay for this property.
2220 Reservoir Street in Echo Park. Take Sunset