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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. 

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

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 $800,000 – $900,000 get you on the Eastside and what kind of process should you expect? Read below to find out.

1055 Alta Pine Dr

1055 Alta Pine Dr: This 1952 Altadena mid-century post & beam was designed by Case Study architect Kemper Nomland (but is not a Case Study home). This home was very well-preserved overall but needed some work & updates. Walls of glass bringing the outdoors in and a thoughtful layout are hallmarks of these incredible homes. Was asking $769,000 and sold for $900,000.

2303 Riverdale Ave

2303 Riverdale Ave: Frogtown continues to be one of the hottest hoods in LA. This 2bd, 2ba, 1,100 architect-designed Spanish home comes complete with restored hardwoods, central heat & air, solar panels, a remodeled kitchen, a full garage, a deck, and a meandering garden path leading to a pergola. Was asking $749,000 and closed 3 weeks later for $849,000.

3937 Roderick Rd

3937 Roderick Rd: Enter this 1,486 sq ft Glassell Park Spanish home through a private courtyard and walk up the steps to panoramic views. This home features all the things we appreciate of this style and era – the hardwoods, arched doorways, and tilework – with the added bonus of a location right in the middle of the Eastside action. Was asking $749,000 and sold for $825,000.

1720 Winmar Dr

1720 Winmar Dr: This Glassell Park home was a hot commodity and it’s no wonder, look at that yard and those views! The home was only 1,074 sq ft (though felt a little bigger due to high ceilings and it’s hillside perch) but the massive 7,694 sq ft completely enclosed lot is a rarity in this area, featuring both a flat grassy area and multiple decked hillside areas with views. Fully remodeled and sitting pretty on the edge of Glassell Park and Mt Washington, this home was asking $649,000 and went $181,000 over asking closing for a whopping $830,000!

4126 Sea View Dr

4126 Sea View Dr: A great middle-ground between square footage and location, this 3bd 1,680 sq ft home sits on a super-private portion of Sea View Ave (one of the most sought-after streets in Mt Washington) and is walkable to coveted Mt. Washington Elementary. It could use some small updates but still has large bedrooms, nice hardwood floors, and a huge 8,914 sq ft lot. Was asking $799,000 and sold for $890,000.

Altadena Craftsman

931 New York Dr: This Altadena Craftsman is the perfect level of “needs some work but not too much work”. Keep the hardwoods and built-ins and put a pool in that huge backyard so you’ll have a place to relax after a long day ripping out that carpet upstairs. 2,701 square feet to spread out on 1/3 of an acre 5 minutes from the mountains and 15 minutes to downtown – you really can’t go wrong. Was asking $849,000 and sold for $865,000.

6309 Meridian

6309 Meridian: For a buyer wanting to be in the middle of the Highland Park action and also make some rental income, this 2,036 sq ft duplex hits all the marks. Classic character, built-ins, gleaming hardwoods, and moderately-updated kitchens/baths plus a nice backyard to round it all out. Was asking $799,000 and closed for $865,000.

683 E. Pine

683 E. Pine St: Another great “live in one and rent out the other” opportunity in Altadena – this one is 2 separate homes totalling almost 2,000 sq ft on an exceptionally large 11,730 sq ft lot with fruit trees and vegetable gardens. The front house is a precious 1904 Victorian with great light while the back house is a 1bd/1ba lofted space with a lovely deck. Was asking $699,000 and sold for $800,000.

Montecito Heights Craftsman

526 E. Avenue 39: This 2,180 sq ft Montecito Heights Craftsman makes my heart sing. It might just be all that colorful Jonathan-Adler-inspired staging mixed with the classic cool solid wood front door (thank you dear flipper/homeowner for keeping that original door!), fireplace, hardwoods, and built-ins or it might be the decking, the views, the terraced yard, or the bonus space. Or maybe it’s that green kitchen tile. Either way, I’m into it. Was asking $849,000 and sold for $869,000.

Pasadena Spanish

400 Carmelo Ave: This quintessential 3bd, 2ba California Spanish home is a great mix of the right amount of updates and the right amount of original character. Tucked into a quiet pocket of East Pasdadena, yet still a relatively close distance to tons of shopping and restaurants. Flat lot with mountain views. Great yard, yet not needing too much maintenance. This is the Goldilox of houses. Was asking $813,000 and sold for $836,000.

This price point has so many great homes I actually had a hard time narrowing down what to feature. From this compound in Pasadena, to this ultra-modern small-lot home in Echo Park, to this well-rounded Victorian in Highland Park, to this well-situated South Pasadena loft (or this South Pasadena townhouse) there is literally something for everyone.

What to expect with a $800,000 – $900,000 budget: This price point has a little something for everyone. You can be in a smaller but nicely updated condo or home in the hottest area, get a little more square footage for a slightly less-updated home in a great area, or go another 5-10 minutes out and get a large home with a mix of updates or even 2 homes on a lot.
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 what level of finishes and what neighborhood you’d like to be in, it’s safe to plan on shopping about $100,000 – $200,000 under budget to give yourself wiggle room for closing costs, bidding wars, and unexpected repairs. 

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Pasadena Homes For Sale

Search the most up-to-date Pasadena homes and condos for sale with local info on accessibility, schools, shopping, restaurants and more. Results updated in real time directly from the MLS.

To view multi-unit properties and duplexes for sale in Pasadena please click here.

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©2017 CRMLS. All rights reserved. Some listings on this website are from CRMLS as of October 17, 2017 1:43 PM PT The information being provided is for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.