So it turns out that 1500 Lynngrove did not sell for $93 million.
Can you believe it? There was a typo. A few – no, just 2 – extra zeroes. It was $930k. So much for that overbid.
Our thanks to the several alert readers who pointed this out privately, before the listing agent corrected the sale price. (Is he being…
So it turns out that
1500 Lynngrove did not sell for
$93 million.
Can you believe it?
There was a typo. A few – no, just 2 – extra zeroes. It was
$930k. So much for
that overbid.
Our thanks to the several alert readers who pointed this out privately, before the listing agent corrected the sale price.
(Is he being sarcastic again?)On the very same day as our $93m story, 2 new Tree Section listings popped up at <$200k.
|
1308 Oak: $200k, then $1m |
1308 Oak (2br/1ba, on a 4480 sq. ft. lot) came up at the bizarrely precise price of
$194,058.
Neighboring
1312 Oak (2br/1ba, on a 4480 sq. ft. lot), a corner lot, offered a bargain even more compelling. You almost wanted to go rush to the ATM to literally buy it with cash – bills in a briefcase. The start price:
$126,732. (You would hope they'd make change from a stack of 20s.)
If you were a netbot scanning and evaluating data on local home prices these last few days, you'd have been quite shocked
(if netbots are ever shocked) to see the disparity between East MB and the (treasured) region west of Sepulveda.
Liberty Village: Big dollars.
West of Hwy. 1: Declining into oblivion.
Sorry, robot, for the confusion.
The actual (corrected) start prices:
We saw both of prices get corrected – maybe not enough – after a routine inquiry to the listing agent.
Turns out, these 2 residential properties (income-producing rentals) are part of a commercial real estate package deal that includes the small mattress store at the corner of 14th/Sepulveda and the coin-op DIY car wash next door. (We'd be sad to see that go.) The total commercial/residential package of land:
$4.995m.
But you can grab either Oak house separately. You just might want to work on those offering prices.
Curiously, precisely the same package of 5 separate commercial/residential parcels (the car wash is a double) was offered way, way back in 1997, first at $1.6m, then down to $1.4m, and settling at
$1.295m. In that package deal, each Oak home sold for $250k. That was then.
And yes, we've learned our lesson when it comes to reported list/sale prices: Trust, but verify.
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 4th, 2024 at 5:20am 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.