Address: 205 19th - 90402Details: 4 bed/4.5 bath 4,148 sq ft house, 12,516 sq ft lot, "needs work and updating", "newer kitchen"
Description: Desirable Gilletes Regent Square 12,500+ lot with a 4,000 square foot+/- Two story Spanish with pool and spa. Good bones, needs work & updating. Great curb appeal. Original Malibu tile entry, Hardwood floors throughout. Newer Kitchen with Subzero & Wolf range, Cesar stone counters & French white cabinets. Open kitchen/family room with fireplace & French doors to yard. Large step down living room with picture window & adjoining music room with surrounding floor to ceiling windows. Formal dining room. Upstairs is Master suite with his & her water closets & his and hers wardrobe closets. Outdoor side courtyard with firepit & fountain. 2 zone HVAC. Professionally landscaped front & back lighting Classic Santa Monica home. Enjoy Franklin elem & BW country mart. Seller motivated! 24 HOUR NOTICE TO SHOW!
Listing History: 1/26/10 - $3,195,000
Reduced down to - $2,595,000
SOLD: 6/24/10 - $2,282,500
This situation looks interesting to me. I would suggest you all take a look at the photos by clicking on the "SOLD" link and then selecting "Add'l Photos". From these photos you will see that the kitchen looks to be in pretty good shape. The overall interior doesn't look all that bad and some parts of the house actually look really neat and more unique than much of the newer construction out there. However, the description clearly states that it needs updating...but really, the photos don't make it look that bad and I kinda dig the original designs of the place.
Now that aside, the location is most certainly deserving of a discount. This is right on the corner of 19th and San Vicente. That means you are getting traffic noise. 19th is also a street that goes through on San Vicente so it may be even more traffic. The plus here is that the lot is massive. It is over 12.5k feet in size. That would normally command a large premium but the location discount offsets it here. Too bad.
Also notice that this is a 4 bedroom house with over 4,100 sq ft of space.
All this for under $2.3mm seems pretty interesting unless I am missing something. Maybe the interior was way worse than the photos make it look. Maybe there is some other massive issue.
Zillow shows that they were trying to sell this place for over $4.3mm back in 2008. HA!...but at under $2.3mm I think it is pretty attractive. What say you?
encouraging sale (for all those forlorn, patient buyers like myself).
ReplyDeletegood value at that price
ReplyDeleteGreat to hear I'm not crazy for thinking this was a good value. I want to know what type of updating it actually needs though. Looking at the photos I see a bunch of interesting original features (tiles, ceilings, etc) along with an updated kitchen. Living in an older house isn't the end of the world...a little character never hurt anyone. Maybe there is some other big flaw but I'm not aware of it.
ReplyDeleteterrible location. If this was in the 300-400 block it would sell in the mid 3's at least.
ReplyDeleteYes, location sucks but other than that I can't see much to complain about. The thing is big enough and the lot is big enough that maybe you don't get as much noise?...probably still a fair amount actually
ReplyDeletewarchestsm, I am an avid reader of your blog but lately, i have been disappointed. You really need to visit these homes before you comment. This house was in terrible shape. The pictures made it look a lot better. The foundation was falling apart, all the windows needed replacing, mold, bathrooms and the KITCHEN were in awful shape, really bad layout, second floor didn't flow and had stairs in between rooms (very odd). The lot was big but in a TERRIBLE location. This street flows through and the street noise is bad. This is NOT a good deal. It was a fair deal for a tear down.
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ReplyDeleteThanks for the comments Junk. As I indicated, I have not seen this house and I repeatedly asked if there was some other major flaw...
ReplyDeleteI wish I could visit every house but frankly I don't care to spend the time. I'm not personally in the market right now and I also don't work in the real estate field so this whole blogging thing is a hobby. I have a lot of very knowledgeable readers (such as yourself) and I rely upon them to comment when I ask questions or when I am wrong (yes, it happens...). Thanks again for your input.
I haven't seen it either... also just don't have the time to drive around going to Open Houses, particularly for homes this far out of my price range. But I'm very skeptical of the argument that this is a tear-down. Junk could be entirely honest and forthcoming in his assessment. He could also be a Realtor or seller in the area with an interest in arguing that this home doesn't represent a downward trend in 90402 homes.
ReplyDeleteI think WarChest does plenty already, but I'd love to hear from others who actually saw this home.
I find epsilon's comment comical. i'm not a realtor or seller. in fact, i would argue that the home could have sold for less. there is a downward trend in 90402, especially for tear down homes. glad to see you have a healthy dose of skepticism. if you are skeptical that this home is a tear down, then i have a home for you on 18th street that is probably perfect for you. i'm sure you wouldn't think it is a tear down. in fact, at $1.9mm, you probably would see it as great value.
ReplyDeleteThis is a terrible location and I would think most buyers in 90402 would not bother looking at it at any price. Why do you want to move to a peaceful neighborhood (generally 90402) and have your home directly on a busy intersection? A lot of the "large" lot size is lost to being on the corner and the sidewalk/parking strip. If you are three or even just two houses down from San Vincente it is actually quiet. Certainly not the case here - you wouldn't want your child playing in the front yard would you? The condition looked pretty poor - plastic on the roof to keep rain out. I would not use this as a comp for where good 90402 locations will trade. There are clearly two markets in 90402: (1) poor locations on San Vincente, 26th St, 7th St. which will take large price reductions to get anyone interested and (2) good locations where you will see homes trade at high prices with multiple offers. At the top of the market everything sells at premium prices. Where we are now, good quality real estate still holds its own.
ReplyDeletewhere are you going to get a 2-story, 4000 sq. ft house in this zip code for $2.3m? I worked in this house for many weeks as a kitchen remodeling contractor back in the mid-1990s (the kitchen has since been redone) and the house has good bones. It was, and probably still is, a high maintenance house but it was built well with thick walls. I don't remember the street noise as being an issue, and I am sensitive to this. Backyard was serene. Would I prefer to be 3 or more houses in from San Vicente? Of course, but what's that going to cost? Move this house to Marguarita and I can't see it selling for less than $3.2m. I think these buyers got a deal
ReplyDeletestreet noise is a huge issue in this house (i spent the time investigating this in person). backyard serene?? if you don't mind poison ivy or needing a tetanus shot, then it is serene. gosh, the yard was really a junk yard, especially on a large lot. do you really think the 100+ people who came to see the house while it was on the market for 6 months were all that dumb to pass up this good "deal"? i'm sorry but this house was garbage.
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