Politics · India Bureau
Actress Capshaw flips Santa Monica home for nearly double purchase price
Actress Jessica Capshaw and her husband Christopher Gavigan turned a significant profit on their Santa Monica property after a comprehensive restoration project. The couple purchased the 1927 Spanish Colonial-style residence for $3.05 million in 2007 and sold it for $5.75 million in 2020.
LSN India ·
The property, located in the upscale Santa Monica neighbourhood, underwent a complete restoration during the couple's 13-year ownership. Among the key improvements was the replacement of the original garage structure with an eco-friendly guesthouse, reflecting contemporary sustainability standards.
Capshaw, known for her role in the medical drama series "Grey's Anatomy," and Gavigan, a sustainability entrepreneur, pursued the renovation with attention to both historic preservation and modern environmental considerations. The restoration work enhanced the home's value significantly over the period of ownership.
The sale was completed as a private, off-market transaction in 2020, generating a profit of approximately $2.7 million for the sellers. The deal reflects strong demand in the Santa Monica luxury real estate market, where well-maintained period properties command premium prices among affluent buyers seeking both character and modern amenities.