Pacific Is Buzzing Too

By Dave Fratello | November 18th, 2014

If three sales make a trend, then Pacific Ave. north of Valley is positively abuzz.

Does it seem unlikely? In this market, not really.

The most recent deal is at 3528 Pacific (3br/3ba, 1535 sq. ft.), a late-40s cottage with additions and light remodeling.

Listed at $1.250M, they ran almost 3 weeks and reeled in a buyer.

The home has the double-whammy location issue of being on busy Pacific and in sight of Rosecrans. That's obvious, of course, but it's also why you can get a move-in-ready 3br for under $1.3M.

And if you didn't need the third bedroom or extra square footage, you might have looked at 3401 Pacific, just across 35th and a tad further from Rosecrans.

That one has just 2br and 820 sq. ft. inside, the typical profile for an obsolete house that's about to get knocked down and rebuilt. (We somewhat doubt that, in this case.)

That property was listed for much, much longer. It launched in June at $1.299M and only gradually cut to $1.199M. The market exposure clock now stands at 146 DOM and growing, even after they made a deal in late October, because a property in "backup offer" status like this one continues to accrue days on market.

One more property in escrow is 2602 Pacific (3br/3ba, 1300 sq. ft.), which was somewhere in between those two in terms of market exposure: 98 DOM officially.

It launched ambitiously at $1.490M in July, eventually winding down to an asking price of $1.390M. It's in escrow now, about 3 weeks into that deal.

The listing begins with a breathless declaration of, "Location, Location, Location!" Which is a bit odd since location is obviously a downgrade here from if you found the same house on a different block off of busy Pacific. (We've noticed this same sort of bold declaration from listings on Marine Ave. and the east side of Larsson recently, too – and in each case, we're thinking they're trying to sell to people not in MB, not trying to sell the location within MB.)

But if we go back to much earlier this year, busy Pacific was no deterrent to a big off-market sale.

Before these three littler homes made their deals recently, the huge news on the block was at 2803 Pacific (5br/4ba, 4425 sq. ft.).

The big, big 80s original had gotten a massive and complete designer modernization inside after a 2010 sale. (All except the master bath.) Even the ample backyard area had newly terrific, modern hardscape/landscaping to bring it to the 21st century.

Very nice. And the double-wide lot – 8400 sq. ft. in total – helped greatly as the property sold for $3.200M back in March. (Off-market.) 

That $3+ number is the record for these 2 blocks north of Valley. For now.

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