Up on the plateau – the flat Sand Section streets above Sand Dune Park – there's a great home that's moving closer to, well, moving.
417 28th was purchased new in Sept. 2005 by a local realtor for $2.550m. (We note this because, at one time, the ads on Craigslist highlighted the fact that the agent was selling his…
Up on the plateau – the flat Sand Section streets above Sand Dune Park – there's a great home that's moving closer to, well, moving.
417 28th was purchased new in Sept. 2005 by a local realtor for
$2.550m. (We note this because, at one time, the ads on Craigslist highlighted the fact that the agent was selling his own home.)
It's a huge house (5br/6ba and 4600 sq. ft.) for the area, with big ocean views from the top floor. It's warm with nice cabinetry, flooring and other finishes. The corner lot is a nice bonus.
28th hit the market April 3 this year at
$3.495m. Someone was looking for about a mil in profit 2 1/2 years later.
That, however, was not in the offing.
No takers after 6 weeks, so the agent/owner pulled a bogus re-list in mid-May, while dropping the price $200k. Hence the current, alleged "44" DOM.
(Golly, if it only started in mid-May, how come MBC was talking up the first weekend's open house in early April?)This week, another $200k came off. They're shaving for summer. It's at
$3.099m. And now you can start to see 2 things:
1) The sellers are bending; and
2) Maybe the sellers are serious, not just testing the market.
At the current price, 417 28th is marked up
$549k/21%. Still pretty sweet.
But where should it end up? The only real recent comp is the "Brownstone" nearby at
428 27th. It was not as big (4125 sq. ft.
vs. the 4600 for 417 28th). That one began at $2.899m and sold for
$2.712m – $658/PSF.
Meanwhile, 28th is a tad higher at $674/PSF. At $658, it goes to
$3.015m.
If it ultimately sells in that territory, 417 28th would be the priciest Sand Section SFR sale east of Highland in 2008. Can they do it, or do they need a bigger haircut?
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 9:46am 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.
