Details: 5 bed/3.5 bath 3,355 sq ft house, 8,700 sq ft lot, "exquisitely restored"
Description: Exquisitely restored romantic St. Tropez villa set in an award winning garden on a 60ft wide, apx 8700 sq ft lot. This designer 5 bedroom + 3.5 bath home features hardwood floors, beamed ceilings, antiqued pavers, custom built-ins and is wired for sound and security. A beautiful Sienna carved marble fireplace centers the living room and flows into a formal dining room which opens into a private backyard. The dramatic kitchen has black granite counters, French glazed cabinetry, carved center island and premiere stainless appliances. A charming family room overlooks a lush landscaped garden with fountain. The luxurious master suite features a sitting room highlighted by a turn of the century French fireplace, picturesque terrace with arbor, master bath with French marble counters, double sinks, and large spa tub. Breathtaking and flawless, truly an extraordinary home.
Previous Purchase: 6/19/02 - $1,800,000
Listing History: 4/23/10 - $2,995,000
Reduced down to - $2,795,000
SOLD: 8/25/10 - $2,667,500
The photos of the interior show that this house has been nicely "restored". The location isn't perfect because this is the 4th house down from San Vicente and the house backs up to commercial buildings on 26th. So location discount for sure.
However, I don't think the buyer did all that poorly if I am correct in guessing that the upgrades were done after the 2002 purchase.
I think a late 2004 value would come out to about $2.2-2.3mm. Then you have to add on the value of the upgrades. I have no way of knowing what was spent but it looks like there may have been some real money put in.
If the upgrades were done prior to the 2002 purchase then you can ignore everything above and I would argue this buyer didn't do well at all.
400k worth of upgrades? Doesn't seem right, so the rollback is probably only to 2005 or so.
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