It took 6 months, but it looks like one of the prime lots in the Hill Section will now change hands.
Current house at 636 8th
That would be 636 8th, a fairly narrow, but deep, 9950 sq. ft. lot that drops down wonderfully to the south. The views toward PV and Catalina are top-flight,…
It took 6 months, but it looks like one of the prime lots in the Hill Section will now change hands.
Current house at 636 8th
That would be 636 8th, a fairly narrow, but deep, 9950 sq. ft. lot that drops down wonderfully to the south. The views toward PV and Catalina are top-flight, quintessential Hill Section panoramas.
This one began in February at $4.850m, notably above the $4.3m-ish range of 3 comparable sales nearby. (See "Big Views, Nearly $5m for Dirt," for MBC's rundown.)
In May, they cut to $4.575m, splitting the 12% difference between the other sales and the start price. And from there, the sellers stood pat for another couple of months.
Could they get a 4.5-ish price now? You've got the warming market on the one hand, and the 6-month runtime on the other.
We wrote in May that "it's a $7m++ project for whoever undertakes it, and that requires a rare combination of acquisition capital and patience to achieve the right result." We've had people question that $7m number, but really, if you're going to do justice to this location with a high-end build, isn't that more likely than not?
If you want to appreciate what they've been offering at 636 8th (a 9950 sq. ft. lot), you might devote 2 minutes to our our short video capturing those views:
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Based on information from California Regional Multiple Listing Service, Inc. as of November 30th, 2023 at 12:15am 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.
