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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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UPDATE: SOLD Silver Lake Mid-Century Treehouse with Views!

1482 Angelus Ave, Silver Lake

Tucked into a quiet and coveted Silver Lake enclave, this 60s mid-century modern has been remodeled and reimagined with an architect’s touch. Enter from street level into the bright and airy top floor – an entertainers dream with walls of glass sliders opening to a large deck offering stunning city & sunset views. Rich walnut floors lead through the open-concept living and dining areas into a sprawling kitchen with Heath backsplash & custom cabinetry.

Downstairs is a tranquil sanctuary showcasing salvaged giant Sequoia ceilings enveloped by lush trees through walls of glass which allow access to the large downstairs deck & terraced side yards from every room. This home features two master suites – one up & one down each with en suite bath – along with two additional rooms with sliding walls that offer a flexible use of space. Central HVAC, large carport and ample closet & storage space. Close to the Reservoir, Sunset Junction & all that makes Silver Lake one of the best neighborhoods in LA.

1482 Angelus Ave, asking $1,599,000

OPEN HOUSE:
Sunday May 7 2pm – 5pm
Tuesday May 9 11am – 2pm
Join us for a special twilight open house Tuesday May 9 from 7pm – 8pm

1482 Angelus Ave Floorplan
1482 Angelus Floorplan, Click to Enlarge
1482 Angelus Walk Map
1482 Angelus stair street map, click to enlarge
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SOLD: 1501 N Mercury Dr, Highland Park

Big congrats to my awesome clients on their very first home! These Rental Girl renters turned TRG buyers fell in love with a beautiful modern home built in 2014 in a great pocket of Highland Park and knew immediately it was “the one”. Now they’ll be close to the action on Figueroa and York as well as everything in Eagle Rock and Pasadena. Can’t wait to see what they do with all this wonderful space!

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Character Starter Homes Under $700k Abound!

2109 Loma Vista Pl, $532,000

Listing info & photos provided courtesy of Judith Oroshnik and Dean Decent, Berkshire Hathaway

6178 Springvale Dr, $649,000

Listing info & photos provided courtesy of Robert Alan Hanson, Keller Williams Larchmont

5639 Ash St, $569,000

Listing info & photos provided courtesy of Diane McDonald, Keller Williams Los Feliz.

2324 Ridgeview Ave, $675,000

Listing info & photos provided courtesy of Gretchen Palmer, Podley Properties


Not in love with anything above? Fret not, there are even more wonderful homes on the market under $700k right now. E-mail me and I’d love to set up a private showing for any of the homes above or chat with you about what else is out there.