Take a half lot in sight of downtown and featuring plenty of traffic... what's that worth?
In the case of 209 15th, the answer is $2.401M.
That's a $102K overbid over the list price of $2.299M.
We went looking for comps. Uh-oh, the market seems to have found a way to carve out a new category-specific high…
Take a half lot in sight of downtown and featuring plenty of traffic... what's that worth?
In the case of 209 15th, the answer is $2.401M.
That's a $102K overbid over the list price of $2.299M.
We went looking for comps. Uh-oh, the market seems to have found a way to carve out a new category-specific high with this sale.
Half lot, west of Highland: $2.4M.
The smallish, 2-story house here (3br/2ba, 1275) is dated and you have to say the bulk of the value is in the land, all 1345 sqft. of that plot.
We can't find a like sale that's even close. $1.7? $1.9? $2.1? Nothing.
There is one very big number from last year that arguably beats the sale at 209 15th: 2401 Manhattan Ave. has a walkstreet frontage and the feel of a 100-block house, albeit with one side of the house on Manhattan.
Sale price last November at 2401 Manhattan: $3.005M in a bidding war that drove it up $500K from start.
The house is similar in size, 3br/2ba, 1500 sqft. and wanting updates. (Though not quite as far behind the times as 209 15th.) And it has the walkstreet patio.
It's a higher price for a half lot, but a very different half lot and house.
Besides that one, 209 15th stands pretty much alone.
One possible loser: 210 15th Place, the back half lot behind 209 15th, which temporarily hit the market pushing for a ton of money, listing for $2.889M.
It was a purely opportunistic listing meant to attract buyers and developers who might want a full lot in this location. (We referenced this sort-of attempt to sell in "Opportunity Knocks - List It?" in July.)
One possible winner: The buyer of 1508 Highland (3br/3ba, 1560 sqft.), a somewhat remodeled 60s house just a few doors away and across (along) Highland.
That one listed for the improbable price of $1.600M on Sept. 1, drawing more than a dozen offers.
Sure, it got bid way up, but simply neared $1.900M without even hitting $2.0M.
If you just won the Highland sweepstakes, you might feel pretty good that someone just paid $500K more for less house in a similar location right nearby.
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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 April 27th, 2024 at 7:11pm 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.