East MB Bucket (9)

Posted by Dave Fratello on Friday, July 31st, 2009 at 5:40am.

We've been so unfair to our east-of-Hwy. 1 brethren.

It has been literally months since we last opened up an East MB Bucket for discussion of the goings-on so near, yet so far away.

Since that last one, the home we led off with (1407 12th) has actually sold – for $560k.

Not too bad for a well-worn 1950s cottage (3br/1ba, 1300 sq. ft.) that had begun as a FSBO at $1m.

But that seems much more than was paid earlier this year for a transcendentally marginal East MB offering that was featured in a different bucket last October. 1856 Marine, at the corner with Aviation, fetched $480k in February. That's $200k less than when we discussed it last Fall. Also, curiously, $420k less than a June 2007 sale that, frankly, looks wrong.

Of course East MB is not just about these small, cheap homes.

There's 1501 9th, a very big (6br/10ba, 8550 sq. ft.) new home on a rare double corner lot, featured in our late-March bucket. It started at $6.5m, and this week took a nudge down to $5.995m.

A newer listing at 1416 9th is also newly down $500k, but that's a bigger proportion of the asking price.

This 6br/5ba, 4275 sq. ft. home is clear evidence that you get more for less in the East, offered at $444/PSF, though $1.899m still won't strike anyone as cheap, per se.

Those are some opening observations. Please share yours here as well – make the bucket work for you.

Final open questions, prompted by the destruction of the old Alberton's this week:
  • Do we really need a big new drugstore?
  • Hey, why no drugstores west of Sepulveda?
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Please use this "East MB Bucket" thread to post information about all listings and goings-on east of Sepulveda, data, critiques, news, etc.
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