The property at 7810 Boeing Avenue is currently a 1,722 square foot, 3-bedroom, 2-1/2 bath single family home on an approx. 9,290 SF lot with a pool.
After the renovation, the property at 7810 Boeing Avenue will be a 4-bedroom, 3-1/2 bath approx. 2,000 S.F. single family home on an approx. 9,290 SF lot with renovated pool and outdoor entertaining space.
The plan for the renovation is as follows:
- Addition of 217 square feet to the property making the total square footage 1,939 square feet and turning it into a 4 bed/3.5 bath home.
- Addition of a 152 square foot front porch to increase curb appeal and make the exterior a single family white farmhouse (very desirable by buyers in this neighborhood).
- Replace stucco facade with James Hardie board & batten siding or similar.
- Complete renovation of the existing pool including new tile, plaster, equipment and coping.
- Complete backyard renovation including renovating existing dining/bbq patio.
- Replace all major systems including electrical, plumbing, HVAC, roof, windows, exterior/interior, and garage doors.
- Renovate all existing bathrooms and kitchen to include new island.
Hi—I'm Megan Blu! I'm a residential designer and developer of premier custom homes. I work primarily in Los Angeles and have flipped over 15 homes in the area. I am a firm believer that rooms shouldn't take themselves too seriously, and I strive to achieve warm, elegant looks with the occasional sense of whimsy. Whether the project is a full scale remodel or ground up new construction, I am involved in every step of the design process (and if you follow my journey on this pilot of American Dreamhouse, you'll get to watch it all unfold!) I work with architects and contractors to ensure that my vision is brought to life. I am a San Francisco native and graduated from the University of Southern California. In addition to my design company, Meg Blu Home, I am the co-founder of Blu & White Homes, which brings design driven homes to the Los Angeles market.
Fresh, updated, farmhouse-inspired interiors are extremely desirable for buyers in the area. We'll use certain high end finishes that buyers are used to seeing on their social media feeds to give the home a curated, custom designed feel.
You've obsessed over fix & flip shows—from the finishes to the furniture, the transformations are mind blowing. But there's never been a way to participate in the process... until now.
This is an opportunity to invest in 7810 Boeing Avenue pre-renovation and participate in the potential profits we realize from the flip. We are offering membership interests in 7810 Boeing Ave LLC to Republic investors.
We have secured a total of $1,138,000 of financing from Goldman Sachs and from a private investor.
Republic investors will receive approximately 10% of the project profits. Based on an estimated sales price of $1,800,000, we are estimating that the project will realize profits of approximately $164,000. This would result in a return of approximately 15% (45% annualized*) to Republic investors.
* Based on a 4-month hold period.
All projections are estimates and are not guaranteed.
The Westport Heights neighborhood of Los Angeles can best be described as the suburbs in the middle of the big city. Its gently curving streets, tidy homes, and well manicured lawns create a small town feel. Located on the Westside of Los Angeles north of LAX, south of Playa Vista and west of the 405 freeway, Westchester was largely undiscovered as a hot spot for housing until the post 2008-recession. Westchester’s close proximity to tech hubs in Venice, Playa Vista, Culver City and El Segundo make it an appealing home-buying destination for technology workers.
Los Angeles is the second largest city in the United States and the third most populous city in North America, with more than 13 million people in the metropolitan area.
Neighborhood Transformation: Silicon Beach
Playa Vista was once called "the largest and most valuable undeveloped land parcel in the country" and Westchester has been a huge beneficiary of the development.
Phase One of the development Playa Vista broke ground around 2001 as a mix of affordable and luxury housing, commercial, and office space. Everything was manicured and brand new—the typical urban characteristics such as power lines and telephone poles were neatly buried underground. Millenials, young families and move down buyers alike were instantly drawn to the walkable lifestyle of this master planned community. It had a beautiful new library, clubhouse with pools and gyms, dog parks, sports facilities, parks, and a new elementary school. Playa Vista offers every amenity but the housing is either condos, townhouses or narrow multi-level single family homes without much yard or privacy.
Until around 2010 Westchester was a sleepy neighborhood built in the late '40s and '50s to house aerospace workers. The houses were quaint and cookie cutter with most on a 50' wide, 6,000 sf lot.
Westchester c. 1950
When Playa Vista started its Phase 2, tech offices started to move in. Google purchased the Spruce Goose hangar in Playa Vista and converted it to ultra hip offices. Suddenly, the area became a tech hub.
Generally, this area is now dubbed Silicon Beach—a reference to the large concentration of big tech companies that have moved into neighboring Playa Vista. These include big tech names like Google, Yahoo, IMAX, and YouTube.
Playa Vista is a great area for young families without kids or for people just starting out. However, as a family expands and kids get older, people want space of their own for entertaining—which is what makes Westchester so appealing for buyers.
Almost every house I have developed in Westchester has had buyers that work in tech with offices in Playa Vista. Buyers have included employees at Google, Twitter, Refinery29, Yahoo and so on.
New Developments: SoFi Stadium
Over the past few years, buzz has been centered on Westchester's close proximity to the new Rams / Chargers stadium (SoFi Stadium) in Inglewood, which opened in September 2020. The new stadium is only 4 miles away from the Boeing property.
It is also scheduled to host Super Bowl LVI in February 2022 as well as the opening and closing ceremonies for the 2028 Summer Olympics.
I have been involved in the design, development and construction of over 30 houses in Los Angeles. My background in development and design has served as a competitive advantage. Each house I produce is unique with custom touches and attention to detail that generates above-market returns. My ability to productize this "Instagrammable" aesthetic and make it a repeatable, cost-effective process has driven buyers to pay higher prices upon completion.
This Westchester house produced a whopping 136% annualized return for the investors. The original house was seriously lacking in curb appeal. The addition of a front porch, new windows and siding and an interior overhaul made for a really stunning "after."
This sought after new construction in Westchester sold before hitting the market. Sometimes working around existing structures isn't worth it and it's better just to tear down the existing house and start with a clean slate.
After going into multiple offers, this one sold for 168K over asking. This little 1920's Spanish bungalow in the Del Rey pocket of Mar Vista was packed with all the original details (including knob and tube wiring and all the "fun" stuff that comes with a house that is almost 100 years old). A 900 square foot addition and total upgrade while still maintaining the historical features made this one of my favorite projects to date. The neighbors were all very thankful that the original look was updated and restored but still kept with the feel of the area.
This house in Westport Heights was sold for the highest price ever at the time for a three-bedroom home in the neighborhood. Throughout Westport Heights, this original design can be seen on various blocks. It was built by a well known local builder, Silas Nowell, in the 1940's. His homes tend to pack a lot of original charm, but the rooms are small by today's standards. Opening up the interior while maintaining the charm, adding a master suite, and updating the exterior made for a winning combination.
This farmhouse renovation in Culver City went pending within one week of hitting the market and sold for 100K over asking. The original house was built in the 1920's on an oversized lot back when this part of Culver City was largely farmland that was cut into residential lots. A previous owner put a farmhouse style addition on in the 1980's. Years of neglect after that and a foreclosure meant this house was ready for a complete renovation. The outcome was stunning. The great room boasts 20' high beamed ceilings and dramatic finishes.
This home on Cowan Avenue (which is located just one mile from the Boeing property offering) generated a 48% annualized return. The original home had a more mid-century feel to it, but several renovations by previous homeowners left it feeling chopped up. Adding square footage and rearranging the interior made a huge difference. A complete overhaul of the original pool and patio made for a quick sale.
American Dreamhouse is the first-ever tap-to-invest house flipping show created by Republic Real Estate that documents house flippers from around the country. In this season, we will follow Megan Blu’s vision unfold and track her renovation process for this Los Angeles single family home through short format 30- to 90-second episodes on Instagram that reveal Blu’s vision for the fixer-upper. Follow along on Instagram.
Republic Real Estate's production of the Show and the Offering's participation thereon is not an endorsement, recommendation or otherwise advisement of the suitability of the investment opportunity presented.