What would you pay for a not-big, not-small house on a nice corner lot in the Trees?
And what if it needed some updates to be fully realized?
How 'bout nearly $1.9m?
You can't call
2301 John (4br/3ba, 2600 sq. ft.) a "fixer," exactly, as it's nicely livable now.
But you have to look at it with some kind of vision.…
What would you pay for a not-big, not-small house on a nice corner lot in the Trees?
And what if it needed some updates to be fully realized?
How 'bout nearly $1.9m?
You can't call
2301 John (4br/3ba, 2600 sq. ft.) a "fixer," exactly, as it's nicely livable now.
But you have to look at it with some kind of vision. The midcentury modern floorplan flows nicely, but the kitchen and baths could use a little work to come into the current moment.
Heck, the outgoing owners bought this house 10 years ago with plans to scrape the house and start over, only to decide
: Hey, we can make this work.The location drove a frenzy this year.
As we noted in a post last week ("
Two Other 'Auctions'"), the start price of
$1.519m was "absolutely wiped out in a bidding war" that saw at least 15 parties bellying up. Probably some were willing to look at this as a lot sale in the 1.5s, before the madness took over.
Now this one has closed at
$1.880m, exactly as we reported last week.
It you feel a sense of surprise, or shock, or disbelief,
give thanks. You're normal. You have a pulse. You know that number is high for what the property is. It's not just shock over the 24% overbid.
|
2400 Palm just sold for $2.050m |
We already pointed to the 2 most on-point comps in
that post last week. They're
2400 Palm (4br/5ba, 3100 sq. ft.), a newer (2004) and classy architectural modern (
$2.050m) and
1820 Palm (5br/3ba, 2450 sq. ft.), a very sharply redone 1970s house with a "Santa Barbara" flavor, which sold in late August for
$1.900m. Using either one as a measure, 2301 John is going to be much more costly to bring up to comparable condition.
Does anyone remember this sort of thing happening in 2008, 2009, 2010? Or even 2011?
Of course not. But that's been the trajectory of 2012. Especially on John Street.
Please see our blog disclaimer.
Listings presented above are supplied via the MLS and are brokered by a variety of agents and firms, not Dave Fratello or Edge Real Estate Agency, unless so stated with the listing. Images and links to properties above lead to a full MLS display of information, including home details, lot size, all photos, and listing broker and agent information and contact information.
Based on information from California Regional Multiple Listing Service, Inc. as of March 19th, 2024 at 3:15am PDT. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.