Just a few days after the Hill Section's "Andalucian" sold, the Martyrs Hill area has seen another inspired Spanish transferring title.
1305 Church (4br/4ba, 3100 sq. ft.) is a custom-built beauty that we said, in a "Weekend Opens" review last September, had a "very European flavor all around."
If you look at…
Just a few days after the Hill Section's "
Andalucian" sold, the Martyrs Hill area has seen another inspired Spanish transferring title.
1305 Church (4br/4ba, 3100 sq. ft.) is a custom-built beauty that we said, in a "
Weekend Opens" review last September, had a "very European flavor all around."
If you look at the interior square footage, it's at the low end for a newer home in the Trees, but the 3-story design maximizes every square inch – nothing extra, nothing wasted.
The lot size would have been the bigger concern for most buyers – 3125 sq. ft. is a veritable postage stamp in the Trees, and half the size some Martyrs-area lots just to the north, with the main liability being no yard – just an
al fresco patio off the kitchen.
You had to view it is an out-of-place Sand Section house, rather than a Tree/Martyrs home. By that standard it's grand.
The sellers had to vastly reduce their ambitions to make this deal work. 1305 Church launched at $2.200m last August,
sliced 10% in September and changed agents in October.
Once the deal came in, at
$1.825m, it was down a further 8%, or 17% overall (-$375k).
Look back to when the lot was acquired, for $1.125m in Nov. 2005, and you're led to speculate on whether this particular sale was profitable or not. The math's easy at first – $700k separates the lot purchase and the recent sale. Now take out an estimated $91k for 5% commissions. Ignoring all other costs, we're down to $200/PSF to build the home...
uh-oh. Looks like the money was made on a 2005 lot flip. Then, a would-be developer grabbed it for $985k, only to sell a few minutes later for that $1.125m price. (The MLS records don't agree with these public-records sale prices we're mentioning.)
Profit or no, the home's a wonderful contribution to the neighborhood, one we called "brilliantly authentic" with its attention to detail. Maybe a contribution in more ways than one.
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 December 9th, 2023 at 11:00pm PST. 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.
