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

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 $600,000 and $700,000 buy you on LA’s Eastside (and beyond)? Read below to find out:

4129 South Bronson Ave

4129 South Bronson Ave
2bd, 1ba, 1,468 sq ft in Leimert Park
Was asking $640,000 and sold for $665,000

This dreamy Leimert Park spanish home has vintage details throughout: original hardwood floors, arched doorways, 12-foot ceilings, a tiled fireplace, wrought iron details, and a spectacular picture window. It even has it’s original art deco tiled bathroom with a separate tub and shower (my heart be still)! All this plus easy accessibility to Liemert Park Village, Baldwin Hills Crenshaw Plaza, and the brand new Crenshaw netro line.
What’s the catch: Not much of one with this place, other than a somewhat small backyard. This home wins best mix of location, character, and size for this price point by a mile.

2687 Carleton Ave

2687 Carleton Ave
2bd, 2ba main house + 1bd/1ba guest house, 1,232 sq ft in Cypress Park
Asking $669,000 and sold for $700,000

This adorable remodeled 1915 farmhouse in up-and-coming Cypress Park has what every buyer right now is looking for – a garage converted into a bonus living space complete with a kitchen, bedroom, and bathroom.
What’s the catch? The garage conversion likely isn’t permitted and all that concrete around the backyard and sides of the home lends a bit of a cold feel to an otherwise warm vintage vibe.

553 Neva Pl

553 Neva Pl
2bd, 1ba, 952 sq ft in Highland Park
Asking $599,500 and sold for $695,000

This great little 1926 character bungalow has gleaming original hardwoods, woodwork, and vintage details to spare plus spectacular views. Located in a great corner of Highland Park close to the action on both Fig and York.
What’s the catch? Small rooms and not much square footage, some deferred maintenance, and a terraced backyard. Still a gem though!

719 Sierra Bonita Ave

719 Sierra Bonita Ave
2bd, 1ba, 1,113 sq ft in Pasadena
Was asking $595,000 and closed for $670,000

This 1924 bungalow is in a great pocket of Pasadena. Featuring a Batchelder fireplace, hardwood floors, original casement windows, and French doors opening from the master to a lovely brick patio.
What’s the catch? This home is on a small lot with a very small patio as a backyard, but depending on the level of maintenance you prefer and outdoor space you need this could also be seen as a bonus.

154 Mendocino St

154 Mendocino St
2bd, 2ba, 976 sq ft in Altadena
Was asking $619,000 and sold for $660,000

This lovely Altadena bungalow sits on a lush private lot, gets great sunlight, and has nicely sized bedrooms with a private master bath. Bonus points for being a couple of blocks away from beloved neighborhood eatery Lincoln!
What’s the catch? Altadena is still considered too tucked in for some buyers, but some may see that as a bonus.

What to expect with a $600,000 – $700,000 budget: This price point is the entry level for many first-time homebuyers making it one of the most competitive in Los Angeles. Most homes will be hovering just above or below 1,000 sq ft and will likely need a little work. It looks like bidding wars in areas like Pasadena and Altadena have picked up but not quite to the frenzied level of the Eastside (yet).
It’s not unusual for homes to go $50,000 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 $50,000 – $100,000 under budget to give yourself wiggle room for bidding wars ,closing costs, and unexpected repairs. 

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SOLD: 2432 Arthur St in Glassell Park

2432 Arthur St Glassell Park

Congrats to my first-time buyer who scored this sweet 2bd/1ba Spanish fixer at 2432 Arthur St in Glassell Park for $600,000! This home has so much potential with its original hardwood floors, large windows, built-ins, and barrell ceilings – it’s no wonder it received 6 offers within its first 3 days on the market.

The location is prime – she’ll have hillside sunset views from the master bedroom and backyard plus she’ll be a short jaunt over to Division 3, Habitat, Lemon Poppy Kitchen, Verdugo Bar, and the Glassell Park pool. Best of all, it has the most coveted feature of 2017; a bonus basement conversion into a 1bd/1ba apartment that can either be used with it’s own private entrance (ideal for short-term rental income) or incorporated into the rest of the home via a staircase from the living room, almost doubling the 900 sq ft assessed square footage.

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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.