What 1.3 Gets in the Trees

By Dave Fratello | June 12th, 2013

There was a time, and we swear it was in recent memory, when $1.3M could get you a decent house west of Sepulveda.

Now that's the price of a cottage in an off location, or a smallish fixer.

1404 Elm (3br/2ba, 1200 sq. ft.) is the one raising our eyebrows right now.

This is a small home that's not been so well-maintained, doesn't have much curb appeal (yet) and can only be called a fixer with potential.

But for that, they got $1.359M, with several offers pushing the price above the $1.279M start.

We had clients considering it, but never wrote an offer. We could see the appeal. And we knew of the dearth of alternatives near this price point. It was just hard to get over the hump and push into the 1.3s for such a small place.

In our review back in April, we did say, "With a coat of paint and a few minor fix-ups (we hope they're minor), this one could really sparkle." More ambitious remodeling plans could transform it. But there are issues to address, and here's hoping the new owners can tackle those.

Nearby, there was another quick sale at this price point over at 1728 Pine (3br/2ba, 1720 sq. ft.), which went at $1.350M, above the initial request of $1.290M.

That one was originally a 50s cottage, but had some additions above and in back. It was quirky and sorely lacking in updates.

We wondered if it was a lot sale (high for that), or what anyone could do with it. It was briefly listed for rent, at $4,100/mo., and was said to have new paint and carpeting. The rental listing was withdrawn, for whatever reason.

Among the other couple recent Tree Section sales worth noting in this price range is 2700 Oak (3br/2ba, 1600 sq. ft.), which closed at $1.287M. That one has decent square footage, was in good condition but lacked a real yard. And it was on Oak, backing up to a commercial property.

Then there's 2603 Pacific (3br/2ba, 1450 sq. ft.), which traded at $1.300M off market in April, after a failed try in 2011 at $1.099M. (See "Tried in '11, Succeeded in '13.")

To get a bigger, well-done home in the Trees at this price point, you have to go to Rosecrans. (See 738 Rosecrans [$1.365M] and 558 Rosecrans [in escrow, list $1.325M] as cases in point.)

That's the state of the Trees in the 1.3s here in early '13.

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