Address: 718 Marine - 90405Details: 1 bed/1 bath 427 sq ft house, 2,496 sq ft lot, foreclosure
Description: Cute little Ocean Park Home, Original bungalow house of 427 sq ft built in 1918 on a Level lot of 2498 sq ft. Many new homes on this street and this lot is just screaming to be built on. Current home is in good shape with copper plumbing, newer windows, remodeled kitchen and bath. There is Alley access to the rear yard for additional parking. Just a few blocks from the beach and a stones throw to everything hip and cool in Santa Monica and Venice.
Previous Purchase: 3/23/05 - $615,000
Bank "buyback": 12/3/09 - $528,750
Listing History: 2/18/10 - $559,900
SOLD: 6/18/10 - $535,000
This is a very small one bedroom west of Lincoln Blvd. Property Shark shows a 0% down purchase and then a refinance to $630,000 in October 2006. Wow...all the signs of the bubble in one example.
This rollback is NOT representative of where the market is as a whole right now. What it does show is that if you are interested in more oddball properties (especially of the foreclosed variety) then you may want to try to get a deeper rollback.
That's a lot of $ for a lot under 2500 sf.
ReplyDeleteAlso, why would anyone install copper plumbing and remodel such a tiny house that will be torn down?
A couple grand for copper plumbing to get 600K+ in 2005 for a shoebox seems like a good investment to me.
ReplyDeleteWell,do U have any idea about the Santa Monica Plumber that has best plumbing repairing solutions?
ReplyDelete