We've seen price cuts before, but nothing quite like Tuesday's cut on 233 20th St.
Would you believe a 32% cut after one week on the market?
It's true. This one began Dec. 5 at $1.849m, got canceled and reborn with a new bogus re-list today at $1.249m – down $600k. That chop alone is almost enough to give you…
We've seen price cuts before, but nothing quite like Tuesday's cut on
233 20th St.Would you believe a
32% cut after
one week on the market?
It's true. This one began Dec. 5 at
$1.849m, got canceled and reborn with a new bogus re-list today at
$1.249m –
down $600k. That chop alone is almost enough to give you whiplash.
But it's not just that the price was wrong by one-third. The new listing offers
39% less of the same lot. (Wait now, maybe that's not a "bogus" re-list if you are literally changing what's offered so fundamentally.)
We kid not. The Dec. 5 listing (MLS #
S959135) offered a "Full 30 x 90 lot" (2700 sq. ft.), including an owner's unit "plus 3 additional units."
The new one (#S959378) offers a 1633 sq. ft. lot and a "legal non-conforming duplex." Oops, we lost two units!
Tax records indicate that these buildings were, for years, on separate lots. In 2005-06, they were joined as
2007 Highland Avenue. If we're reading this right, thereafter someone went further to get "Highland" out of the address, switching to a 20th St. address.
Everything was tidied up and we were ready to see the whole thing sell as a package, most likely to a builder, and then
someone had a beef.
Even on Highland
(no, no, 20th St.!), this is a decent midtown location, frontage on the walkstreet, ocean views, steps to beach, etcetera. The listing agent knows local lots. And we all know this one is much more valuable as a street-to-alley lot.
Oh, you backlot folks,
what's your price?!?MBC is prepared to declare this case
stranger than the mid-listing change of address at 232 16th, cum
234 16th, which we covered in June (see "
Relistery Mystery"). But we'd like to know more than we do. Is it the fumes from Highland Ave. traffic that makes people crazy, or something else?
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UPDATE: The backlot is now available for $879k, making the total package $2.128m, or +$279k/+15% over the price the first week. There ain't much to it, but here's the listing link via Redfin for
2007 Highland.
2nd UPDATE: The front lot (233 20th) is pending as of Weds. afternoon.
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 March 21st, 2023 at 4:45am 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.
