Prime lots in the Tree Section have been hitting $2M and a touch above.
It was only a matter of time before the American Martyrs area asserted itself (again) with an even higher high.
Now the sale of 608 14th has done exactly that.
The dated, 4br, 3000-ish sqft. house is fine, but it's the 5800 sqft. plot…
Prime lots in the Tree Section have been hitting $2M and a touch above.
It was only a matter of time before the American Martyrs area asserted itself (again) with an even higher high.
Now the sale of 608 14th has done exactly that.
The dated, 4br, 3000-ish sqft. house is fine, but it's the 5800 sqft. plot of land that's got the real value here.
Specifically, the market said: $2.950M. The sale closed this week.
Call it the American Martyrs neighborhood's first $3-million-dollar lot.
As the listing launched 5 weeks ago in June, they weren't necessarily pushing the ceiling too high. The asking price was $2.7M.
But competition and must-have properties means new, ever-higher prices must be paid.
We can't really find anything like 608 14th in very recent comps.
The biggest prior lot sale that we see was $2.500M for 524 15th (a 6500 sqft. lot), which was sold to a developer. The completed project then sold last year as a newly built home in Nov. 2014 at $5.700M.
What seems to be the immediate high prior to that was 635 18th (6200 sqft. lot), which sold in 2012 for $2.400M and is a construction site now.
Specifically on 14th St., site of the latest sale, there were two notable off-market sales more recently than either of those lot sales above. Both sales on 14th were for less money:
527 14th (5600 sqft. lot) sold in Aug. 2013 for $1.840M; that was $1.110M less, just 2 years ago. It's now a construction site.
535 14th (5600 sqft. lot) sold in Dec. 2014 for $2.175M. The nice little cottage on site may be endangered some day.
All of this is just to say that 608 14th has carved out a new high – not that anyone should really be surprised.
It took the right lot at the right moment.
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 5:55am 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.