Close the Books on 1305 8th

By Dave Fratello | February 17th, 2012
We're going to remember the first weeks of 2012, at least, as a time when East MB listings flourished and sold.

New listings were slow to unfold west of the highway, but there was no such constraint on EMB.

1305 8th
In the first week of the New Year, while your blog author was still re-adjusting to West Coast time after a trip east, out came 1305 8th (6br/4ba, 4100 sq. ft.).

The home felt like what it was: a late-80s home with incomplete remodeling, but it had the asset of lots of space – inside and out. 

That's why you go east of Sepulveda. (For the space, not the 80s.)

1305 8th debuted at $1.725m and lasted just 10 days. In early January.

It has now closed for $1.710m.

That quick deal was just a harbinger.

Here are the 7 other quick EMB sales of larger homes in the first several weeks of 2012:

1555 8th
1555 8th (5br/4ba, 3600 sq. ft.) was simply one of the better homes to have hit the the market under $2m in months, east or west of the highway.

It's a 1997-built, very much customized and updated Spanish with a lot of grassy yard out back. The location is convenient for lots of family purposes, walkable to all levels of school and 2 parks.

1555 8th began at $1.899m and posted a deal before its first scheduled open house.

1515 5th
1515 5th St. (5br/5ba, 4130 sq. ft.) is the most recent to post a deal, having run all of 3 weeks on the market. It's a large, yet comfy late-90s build with an especially large kitchen/great room and such a large yard that there's adequate space for a nice patio, (faux) grassy area and a good-size pool with spa.

The home's been upgraded in several places, but isn't perfect, as some 90s finishes fall flat. 1515 5th last sold for $1.7m in 2003; it began this year at $1.998m.

1231 3rd
1231 3rd St. (5br/4ba, 3850 sq. ft.) is a fairly big early-90s home with elaborate faux-painting and wood-trim details inside. We feared that the style could be polarizing – love it or hate it. But no worries; they found the "love it" buyers within 2 weeks.

The lot size (6000 sq. ft.) is somewhat smaller than most of the big EMB homes out there (7500 sq. ft. is more common), and the back yard at 3rd is taken up by a pool and small patio. 1231 3rd was up at $1.699m when they made their deal.

1648 8th
1648 8th (5br/4ba, 4950 sq. ft.) was a holdover from all the way back in late December when it posted a deal in late January. A whole month on market – that's forever among this crop.

This is a huge 1990 build that needs a complete re-do inside. The listing description was open about this, using gentle phrases like, "The 1990's appointments make it idea[l] for remodeling" and "pricing reflects current condition." Pricing was $1.424m, somewhat below a competing listing for a house with the same layout, mentioned in "Battle of the Giant 90s Homes."

1447 8th
Speaking of early-90s homes that need a complete re-do, 1447 8th (5br/4ba, 4225 sq. ft.) is another.

This one was a short sale posted in late January at $1.399m. (See "East MB's Newest Shortie.")

It's in drearily original condition, but boasts an unusually large lot (8250 sq. ft.) with a huge, blank yard – a canvass upon which your landscape architect, or pool guy, might paint.

1741 Curtis
1741 Curtis (4br/3ba, 3300 sq. ft.), a very traditional, east-coast sort of home, which started at $1.495m on a Monday in late January and had an accepted offer by Wednesday.

It's a 1990 custom build (Janie Nagy says memorably said it "has a bit of a DIY feel") with a somewhat updated kitchen and a big, bright great room in back opening to a sizable yard. Overall, a big and charming home in a challenged location, waiting for updates here and there.

1205 23rd
1205 23rd St. (5br/5ba, 3500 sq. ft.) is a 2002 home that's been vacant for 5 of its 10 years. So call it low mileage. That's because the prior owner was tied up in litigation over an alleged investment ripoff, and a cloud on title carried over even after the bank took the property back in early 2007.

Five years ago, someone failed to close a purchase of this REO due to the title problem. (See "A Cloud Over 1205 23rd.") This year, we were told it's "fixed," but we put our hopes out there that buyers beware and investigate. Maybe someone will wind up with a steal. This one was last priced at $1.299m. Last week, the "pending" status switched back to "active" for a short time, hinting a problem, but it's back to "pending" now.

We're taking note, whatever the issues these homes have, it was possible to get pretty big houses east of the highway for $1.3-$1.5m, or $1.7-$1.9m for something nicer.

1461 9th
At this point, among EMB inventory at 3000+ sq. ft., there's just one home offering a good location and condition: 1461 9th (6br/4ba, 4100 sq. ft.), not yet in escrow after a full week at $1.850m.

We haven't seen it yet, but Janie Nagy called it "beautiful" which, it would seem, rules out the alternatives.

What's the over/under on how long this one lasts?

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