835 N. Crescent Heights (90046)$760,000
3BR / 1BA
1,166 sq ft
6,000 sq ft lot
Adorable Spanish architecture home with lovely archways, jazz walls, barrel ceilings, hardwood floors, French doors, a wonderful large updated kitchen, charming original bathroom, copper plumbing, formal dining room, and beautiful fireplace in living room. There is a utility room leading to the very large backyard and the home is located within walking distance of trendy West Hollywood restaurants and shops. Seller to select services.
Sold: 6/88 - $250,000
No, the title isn't meant to poke fun at the size of this SFR. Rather, given the previous purchase, perhaps the current owner has some room to work with the price. I couldn't find any home-as-ATM indication data, although the owner is probably kicking themselves for not getting this place appraised at over $1mm a couple years ago and buying the Porsche and Range Rover.
Of course, we profiled up-the-street 1015 N. Crescent Heights in our "So it Begins" post a little while back, which has a slightly larger lot but looks to be a tear-down, listed as a short sale for $895,000.
I'm guessing places like this will set current "lot values" for this area, when sold. From the pictures, this place looks in reasonable shape, although certainly small. I laugh when people talk about the benefits of SFRs vs. condos. So, you're going to start your family in a 1BA place with less than 1,200 sq ft? All for the privilege of having a backyard that looks like this?
1 comment:
Please. In the LA area, with the exception of the high end penthouses condos cannot compete with SFRs at all. It's not even a close call. You can expand the SFR or otherwise change it to meet your needs. You are not at the mercy of the incompetence and intrusion of an HOA and subject to financially ruinous special assessments. Your value will drop during housing slumps but it will not collapse entirely as with condos because--well--everybody knows that condos are grossly inferior and will take the first chance to get into a house.
This house is stuck on the unlivable Crescent Heights. It is next door to either a--you guessed it, condo!--or an apartment building. It's on a piece of land that is only worthy of use for an inferior good. Such as a condo.
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