Now It's a Buena VistaPosted on Monday, February 4th, 2008 at 6:44am.
3617 Vista (4br/3ba, 2750 sq. ft.) came on the market Sept. 5, 2007, at $2.149m. MBC offered a detailed writeup shortly thereafter (see "As Good As It Gets on Rosecrans"). Highlights:
- a solid, voluptuous-feeling build with lots of nice custom touches;
- this is a loud part of Rosecrans... Throughout our visit, vehicle noise was noticeable – in part because cars are gunning their engines to climb the hill;
- If Vista doesn't go quickly, we'd guess a sale could come in nearer to $1.9m.
MBC was blessed in the comments on that story to hear from a person who had bid on the project before it was built out. His numbers suggested a cost for the builder of about $1.765m. With 5% costs of sale at $1.899m, the net is $1.8m, meaning possibly a tiny sliver of a profit, assuming (big-A assuming) no extra costs along the way. With 5 months' worth of holding costs after the prop hit the market, we might assume a modest loss on this project.
But consider the buyers. They got at least a 12% discount, they're near the beach, the airport, yoga, sushi and, of course, El Tarasco. They're in the newly minted region of "North Manhattan Beach." What's not to love at this point?
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