The formula is reasonably simple: buy a down-at-heels beach house that's barely been updated since it was built in 1968, slap white paint and white marble everywhere, add new windows, carve out an additional bathroom, redo the vinyl pool, add a high-end if tiny kitchen, and profit! This property sold last December for $1.675M; now it's back on the market after its facelift for $2.995M. Even though the house is a petite 1000sf and the plot is similarly small at 0.18 acre, $3M is still a pretty reasonable ask, especially considering the pool (which can be hard to get a permit for in the Dunes). There's nothing for a buyer to do and everything a buyer could need.
· Luxe Beach Living [Corcoran]