Just last week, there was one surprise in the walkstreet-dirt category, when 405 9th sold within about 6 weeks of launching at the much-too-high price of $2.3m. Expect it to close nearer to $1.8m or below.
Turns out, that was just one in a series.
Less than 2 weeks ago, 416 6th came out at $1.779m and almost…
Just last week, there was one surprise in the walkstreet-dirt category, when 405 9th sold within about 6 weeks of launching at the much-too-high price of $2.3m. Expect it to close nearer to $1.8m or below.
Turns out, that was just one in a series.
Less than 2 weeks ago, 416 6th came out at $1.779m and almost instantly had a deal for more.
The home's a mess, so watch for that to be vastly reworked or, more likely, 'dozed.
Similar story at 125 8th (pictured) – like 416 6th, it began on March 4 and had a deal within 10 days.
Unlike 6th, 125 8th made a run for several months last year without success, at a higher price.
This Spring, at 10% less ($2.995m), it found its market. (We first covered 8th last year in "Downtown Cottages at $3m.")
8th is a different bird, an older cottage on the downhill, Strand-adjacent walkstreet west of Manhattan Ave., clearly livable and pretty charming.
It's not clear whether this buyer will keep or scrape the existing structure, but the value is clearly in the land, and let's not act surprised if a custom build graces the location a couple of years hence.
The odd lot out, for the time being, is 317 8th, at the corner with Crest, newly at $1.679m. Crest turns out to be a bigger liability than maybe was apparent at first.
We're just pulling the threads together now, and can't say definitively that none of these recent sales are going to builders. But among the land purchases recently, we know several were to private parties for custom builds – the trend of the moment in local development.
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 May 30th, 2023 at 5:16pm PDT. 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.
