No Comments

Fall 2017 Market Update: Homes Between $700k – $800k

In this series we’re taking a look at homes sold at various price points in the second half of 2017. Inventory remains low and bidding wars the norm so we’ll be focusing on selling price rather than asking price. What will a budget between $700,000 and $800,000 buy you on LA’s Eastside (and beyond)? Read below to find out:

669 Romulo St

669 Romulo St
2bd, 1ba, 963 sq ft on a 4,945 sq ft lot in Cypress Park
Asking $599,000 – Sold for $760,000

Let’s start by saying the photos for this home truly don’t do it justice. The minute I set foot into this magical place I knew it would be setting a sales record for Cypress Park. Small in size but big in character and warmth – the inside of this home looked like an Anthropologie catalog. Yes some of that was the staging but more than anything it was the wood floors, the Spanish fireplace, the vintage tiled bathroom with it’s separate tub and shower, and the sun beaming through the oversized picture window. Sigh.
What’s the catch? This is still an up-and-coming area but slated to be one of the hottest real estate markets in LA in the coming year. The backyard was terraced and not as useable as a flat backyard. And as a buyer you’d have to wrap your head around knowing you’re paying more than anyone ever has in this pocket.

1100 Montecito Dr

1100 Montecito Dr
2bd, 1ba, 1,071 sq ft on a 7,004 sq ft lot in Montecito Heights
Asking $639,000 – Sold for $705,000

This iconic mid-century is one of the original 39 homes in Montecito Heights and one of only 23 remaining. A home on stilts isn’t for the faint of heart but this type of architecture is quintessential LA.
What’s the catch? The only useable outdoor space is decks protruding from the home + a small flat paved patio on the side.

4416 Maycrest Ave
3bd, 2ba, 1,702 sq ft on a 7,504 sq ft lot in El Sereno
Asking $747,000 – Closed for $785,000

Wow El Sereno is bringing some serious A-game with this renovated 1917 Craftsman. That original built-in conversation nook with the fireplace? The leaded glass? The tiled bathrooms? The original thin slat hardwoods? The built ins? The casement windows? The coffered ceilings? Seriously GTF out. of. here.
What’s the catch? You’ll get 90s nightclub vibes every time you shower unless you can figure out how to turn off those oddly-placed glowing blue LED lights coming from the shower head.

3160 Verdugo Pl
2bd, 1ba, 820 sq ft on a 7,160 sq ft lot in Glassell Park
Asking $675,000 – Sold for $757,500

It’s worth noting that this same property in the same condition sold in January 2016 for $610,000. A $150,000 appreciation in less than 2 years with no change in finishes is pretty epic and is a great indication of the direction this pocket is going. This home has a shared driveway or a million steps up from the street but once you’re up there are spectacular views from every room indoors and out.
What’s the catch? All of the yard is what you see in front and on the side – maybe room to garden but not much more but this is pretty typical of a hillside home with incredible views.

3901 2nd Ave
3bd, 4ba, 1,801 sq ft on a 6,500 sq ft lot in Leimert Park
Asking $749,777 – Sold for $780,000

This large 1934 Spanish home in Leimert Park has been remodeled inside and out with refinished hardwoods (the cool old-school thin slatted kind you never see anymore), a fireplace, French doors, vaulted ceilings, and a nice new deck. They seem to have lost their way on the sparse landscaping but all is forgiven for the bold color choice and Spanish tiles in front.
What’s the catch? You’re going to have to figure out something better for that dirt front yard.

2623 Kent St

2623 Kent St
3bd, 2ba, 1,182 sq ft on a 2,124 sq ft lot in Silver Lake
Asking $649,000 – Sold for $790,000

Clearly someone struck gold with a sale on granite tiles and went to town in that kitchen. And it should be noted that on assessor’s records this home is only 672 sq ft, meaning they probably converted the attic to a second floor without permits. Overwhelming granite and unpermitted space aside, this is great square footage and charm for this price in a walkable part of Silver Lake.
What’s the catch? The only outdoor space is a small patio in the back, but hey that’s just less you need to worry about maintaining.

What to expect with a $700,000 – $800,000 budget: This price point is one of the most competitive in Los Angeles, with almost every home on the market going well above asking price so shopping around $100,000 under your max budget is a safe bet for bidding war and closing cost wiggle room. Much like the surrounding price points you can get a more finished home or more square footage by going further into the outlying areas. This budget should get you around 600 – 1,000 sq ft of remodeled home or 800 – 1,200 sq ft of cosmetic fixer in trendy pockets of the Eastside like Highland Park and 1,500 – 2,000 sq ft remodeled home or 1,800 – 2,200 sq ft of cosmetic fixer in up-and-coming areas like El Sereno. 

No Comments

Fall 2017 Market Update: Homes Between $800k – $900k

In this series we’re taking a look at homes sold at various price points in the second half of 2017. Inventory remains low and bidding wars the norm so we’ll be focusing on selling price rather than asking price. What will a budget between $800,000 and $900,000 buy you on LA’s Eastside (and beyond)? Read below to find out:

4559 East Rose Hill Dr
2bd, 2ba, 1,018 sq ft with a lower-level guest suite + an unpermitted detached guest house in El Sereno
Asking $599,000 – Sold for $800,000

Built in 1950, this home is a little bit 1920 a little bit 1980 and a whole lotta bidding war. This is a great example of what today’s buyers are looking for – it’s got land, privacy, views, character, and a detached guest house.
What’s the catch? Most buyers right now don’t care whether additional space (or even an entire secondary structure) is permitted or not but for the sake of appraisal a buyer would need to have more cash reserves to put down to cover the difference in the loan amount should it appraise low. El Sereno is also still a little off the beaten path as far as location is concerned, but it’s clearly picking up speed quickly.

1102 Neola St
2bd/2ba, 1,089 sq ft on a 3,071 sq ft lot in Eagle Rock.
Asking $749,000 – Sold for $805,000

This Eagle Rock bungalow was completely remodeled by ModOp design, featuring new oak flooring, a private grassy yard, an impressive master suite, and a detached garage which could be used as an office. This is a great pocket of Eagle Rock with easy access to shopping and restaurants in Highland Park and Pasadena as well.
What’s the catch? Not much square footage on a relatively small lot.

859 East Howard St
2bd/2ba, 1,656 sq ft on a 10,539 sq ft lot in Pasadena
Asking $798,000 – Sold for $825,000

This 1912 Pasadena craftsman features hardwood floors, built-ins, a clawfoot tub, stained glass windows, and all that gorgeous interior woodwork craftsman homes are known for, not to mention it’s on a massive flat private 10,539 sq ft lot.
What’s the catch? It’s only got 2 bedrooms and the Pasadena location may not be ideal for someone needing to be more central

2233 South Budlong Ave
4bd/2ba, 2,090 sq ft on a 6,754 sq ft lot in Adams-Normandie
Asking $899,000 – Sold for $825,000

 

Adams-Normandie is a tiny pocket just South of the 10 between Jefferson and University Park. This strip just south of the 10 running through a few different neighborhoods has streets lined with mature trees and massive Victorian and Craftsman-era homes. Centrally located with no shortage of fixers, this area is primed to become super hot in the coming years. This 1903 home sits on a private lot and features all the great character-details you’d expect from a home of this age.
What’s the catch? This area is still up and coming + someone has unfortunately paved over the entire backyard.

2131 Navarro Ave
4bd, 2.5ba, 2,255 sq ft on .34 acres in Altadena
Asking $849,000 – Sold for $825,000

This property with two vintage character homes on a lot (a Spanish and a classic Cape Cod) features hardwoods, built-ins, a Batchelder fireplace, arched doorways, coved ceilings, French doors, and so much more. These two homes are separated with private gated yards on a quiet street lined with tall pines. What a wonderful opportunity to live in 1 and get rental income from the other!
What’s the catch? Though only 10 minutes further north from Eagle Rock, Altadena is too far removed for some people who need to be more centrally located.

3834 Roxton Ave
3bd, 2ba, 1,525 sq ft on a 5,393 sq ft lot in Leimert Park
Asking $725,000 – Sold for $825,000

It’s no secret Leimert Park is one of my favorite neighborhoods in all of Los Angeles. It’s brimming with well-kept Spanish character homes, close to shopping and transport (not to mention it’s own new Metro station in 2019), and it feels like it’s 15 minutes from everywhere – the beach, downtown, or the Westside. This is a neighborhood with culture and history, with residents who have pride of ownership and work to retain the area’s very special and unique vibe. This particular home on Roxton is a well-rounded representation of the type of homes you can find in Leimert, plus it’s got an awesome work studio garage conversion.
What’s the catch? Leimert used to be a great place to find a hidden gem but the secret is out, expect bidding wars on par with anything on the Eastside.

3419 Ferncroft Rd
2bd, 1ba, 996 sq ft on a 3,635 sq ft lot in Atwater Village
Asking $729,000 – Sold for $832,000

The real estate market in Atwater Village market is obviously as hot as ever. This home is cute, bright, and nicely finished but the major selling point here is it’s easy access to all the hot shops and restaurants in Atwater Village. It’s also a stones throw from Silver Lake and Los Feliz + adjacent to the LA River.
What’s the catch? For a remodeled home in a super walkable location you’ll have to sacrifice some square footage.

5671 Hub St
3bd, 2ba, 1,416 sq ft on a 5,604 sq ft lot in Highland Park
Asking $729,000 – Sold for $845,725

This 1907 craftsman is located within Highland Park’s historic preservation overlay zone. Picture-perfect with it’s little white picket fence and right in the center of the action between York and Figueroa, is it any wonder this one got into an epic bidding war and closed for more than $100,000 over ask?
What’s the catch? Not much of one with this location but the home does need some cosmetic updates, one bathroom isn’t permitted, and much of the backyard has been paved over.

What to expect with an $800,000 – $900,000 budget: This price point is one of the most flexible in Los Angeles right now – you can have a smaller (under 1,000 sq ft) but nicely updated home in a hot area, go for a much larger (over 2,000 sq ft) home in an up-and-coming area, or compromise a little on square footage and location and meet somewhere in the middle.
Though this price point has plenty of options, it also has plenty of competition. It’s not unusual for homes to go $100,000 or more over their asking price. Depending on the level of finishes and what neighborhood you’d like to be in, it’s safe to shop about $100,000 – $200,000 under budget to give yourself wiggle room for bidding wars ,closing costs, and unexpected repairs. 

No Comments

Summer 2017 Market Update: Homes Between $600k – $700k

In this series we’re taking a look at homes sold at various price points around LA’s Eastside in the first half of 2017. Since homes in today’s market rarely sell at their asking price, we’ll be focusing instead on selling price. What will a budget between $600,000 – $700,000 get you in Eastside LA and what kind of process should you expect? Read below to find out.

708 N. Adams St

708 N. Adams St: This Spanish home in the Woodbury pocket of Glendale is about 100 feet from the highway and has 2 different apartment buildings staring down at it but if you can get past that it’s oozing with original Spanish character featuring a fireplace, leaded glass, hardwood floors, arched doorways, updated kitchen & bath, plus access to Glendale’s top-rated schools. Was asking $649,000 and sold for $669,000.

768 Museum Dr

768 Museum Dr: Attention tiny home fans! What this little 1bd 683 sq ft bungalow lacks in square footage, it makes up for in character, updates, and serene outdoor space. Sitting on a woodsy lot on the edge of Moon Canyon in Mt Washington, you’ll probably spend much of your time hanging out on the almost 400 sq ft of decking or gardening in your shaded yard. This sits in one of the most coveted school districts in LA, but would be a tight fit for kids. Was asking $525,000 and sold for $665,000.

4906 Granada St

4906 Granada StThis 2bd 926 sq ft Spanish bungalow on a corner lot in Highland Park has been updated with refinished floors, new appliances, marble countertops, new decking, and 2 bathrooms. Was asking $649,000 and sold for $670,000.

564 Meridian Terrace

564 Meridian TerraceThis 824 sq ft Highland Park Bungalow has been updated with modern finishes but also retains it’s original hardwood floors, built-ins, and vintage vibe. The xeriscaped backyard is crowned by a garage that’s been converted to a work studio with water, power, and casement windows. Was asking $659,000 and sold for $690,000.

3625 Edenhurst Ave

3625 Edenhurst Ave: This Atwater Village home comes tenant occupied and in need of updates and repairs but it’s walkable to dozens of great shops and restaurants and in addition to the 1,369 sq ft main house this one has an entire secondary structure behind it – just imagine the short-term rental income potential! Was asking $679,000 and sold for $655,000.

5970 Graciosa Dr

5970 Graciosa Dr: Yes you can still get a home in the Hollywood Hills under 1 million! It’s on a teeny-tiny steeply sloped lot and needs work but this 794 sq ft cottage comes with hardwoods, a bonus loft space, vaulted ceilings, and peek-a-boo views. Was asking $699,999 and closed for $685,000.

329 Vista Pl

329 Vista Pl: This 1,325 sq ft craftsman faces a lesser-known mostly unused walk-street and is accessible from the alley behind the home, which is technically Fisher St. That puts most guests entering the home through the back door and kitchen. If you can get past the backwards orientation it’s a great home in a historic pocket on a private lot with a ton of potential. Was asking $575,000 and sold for $605,000.

Birch St

2622 Birch St: This Alhambra Spanish character home could use a scrubdown and some serious updates but it’s got a massive 8,000 sq ft flat backyard with a pool, Batchelder tile, built-ins, and I would be willing to bet there are some hardwood floors under that old carpet. Plus it’s in a super family-friendly area with a great school district. Was listed for $510,000 and closed for $670,000.

What to expect with a $600,000 – $700,000 budget: This price point will give you plenty of options, depending on whether size, finishes, or location is most important to you. You can find a small updated home in a hot area or a larger home that needs some work in a more off-the-radar area.

Like the ones under it, this too is a competitive price point with multiple offers being the norm so it’s good practice to set your search about $100,000 under budget, leaving some wiggle room for a potential bidding war, closing costs, and any unexpected repairs you may encounter. Ready to start looking? Click below to see what’s on the market now and click here –> to contact me today!

No Comments

Summer 2017 Market Update: Homes Between $500k – $600k

In this series we’re taking a look at homes sold at various price points around LA’s Eastside in the first half of 2017. Since homes in today’s market rarely sell at their asking price, we’ll be focusing instead on selling price. What will a budget between $500,000 – $600,000 get you in Eastside LA and what kind of process should you expect? Read below to find out.

1747 N New Hampshire Ave

1747 N New Hampshire Ave: Another one for the tiny house lovers! This 480 sq ft Los Feliz home on a 1,912 sq ft lot is super small any way you cut it but who cares because it’s basically the most adorable house ever and just happens to be in one of the best hoods in all of LA. Seriously I don’t know what this person did to steal this house away at this price (I see by their quick close they likely paid cash, that’s a start) but BRA-VO. Was asking $539,000 and sold for $592,000.

219 E. Avenue 32

219 E. Avenue 32: This 740 sq ft 1910 bungalow has been tastefully updated with refinished hardwood floors and a pinterest-worthy clawfoot tub. It’s small but picture perfect and – what’s that I see – not one but TWO bathrooms?! Stop the presses. This Lincoln Heights darling is on a private street a stones throw from the Metro gold line, Highland Park, and Mt. Washington with easy access downtown via the 110. Was asking $499,000 and sold for $595,000.

4035 Verdugo Rd

4035 Verdugo Rd: This 1940s Glassell Park traditional is tucked right on the edge of Highland Park, Eagle Rock, and Glendale meaning easy access to all the shopping, food, and nightlife your little heart desires. It’s on a busy street but it makes up for it with 1,108 sq ft of interior space, arched doorways, a fireplace, hardwood floors, large bedrooms, and a huge detached 2-car garage with a bathroom that would make a great bonus studio space or mother-in-law apartment. Was asking $599,000 and sold for $586,100.

5036 Lathrop St

5036 Lathrop St: This remodeled 1920s El Sereno home features fancy new modern finishes, fancy new bamboo floors and a fancy new roof sitting on a massive ultra-private enclosed 6,629 sq ft lot with a fancy new deck overlooking the Montecito Hillside. The downside? It’s only 680 sq ft. But with all that fanciness who cares about the size? Was asking $499,000 and sold for $570,000.

5927 Piedmont Ave

5927 Piedmont Ave: This historic 1910 Highland Park craftsman sold as a probate went to a cash buyer so I’m hoping to see it pop back up as a super cute flip in the next year. It was filthy and in dire need of updates and repairs but what a sparking diamond in the rough with all those built-ins and original wood finishes, not to mention the awesome proximity to the Metro gold line Highland Park station and all the great shops and restaurants on Fig. Was asking $429,000 and sold for $555,000.

4339 Latona Ave

4339 Latona Ave: This 1958 Montecito Heights home looks small at only 756 sq ft but it’s big on Mid-Century vibes. Exposed wood vaulted ceilings, knotty pine kitchen cabinets, a clawfoot tub, a huge backyard, and even a private professional recording studio in the converted garage give you unlimited possibilities. Close to Highland Park and Mt. Washington with easy access to the 110. Was asking $499,000 and sold for $591,000.

7256 N. Figueroa

7256 N. Figueroa: It’s good to know buyers wanting lots of square footage and a hip neighborhood still have options under $600k. Sure this 1,348 sq ft home sits on one of the busiest streets in Los Angeles and has a bus stop literally 24″ away from it, and sure the layout is a little funky with the triangular lot and long narrow living room. But this Eagle Rock location right on the edge of both Highland Park and Pasadena might make it worth it for the right buyer. Was asking $589,000 and sold for $570,000.

1504 Mohawk St

1504 Mohawk St: There’s really not much to this little 780 sq ft Echo Park bungalow on a 1,966 sq ft lot. It has distant views of the Hollywood sign but no garage. It’s been recently remodeled but looks dated and could use a refresh to make it pop. A home at this price point in this pocket is hard to find these days so for a buyer wanting to be in this Silver Lake/Echo Park location, this would be a good deal. Was asking $599,000 and sold for $581,000.

What to expect with a $500,000 – $600,000 budget: This can be a challenging price point but as you can see, finding something great is totally possible as long as you’re patient in your search, aggressive in your offer, and willing to sacrifice some square footage. Most homes in this range are still small, but you’ll find them in better pockets and with better finishes than the ones at the $500,000 and under level.

This is a competitive price point with multiple offers being the norm so it’s good practice to set your search about $100,000 under budget, leaving some wiggle room for a potential bidding war, closing costs, and any unexpected repairs you may encounter. Ready to start looking? Click below to see what’s on the market now and click here –> to contact me today!