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Thursday, December 18, 2014

Eastside Property: Small Atwater home meets with big demand

There's a 648-square-foot Atwater Village house under that pine street

There’s a 648-square-foot Atwater Village house under that pine tree.

The living room carpet is worn out. The  kitchen is beyond dated. And the house is small at less 700 square-feet. But on  Tuesday, at least 50 agents and their clients as well as curious neighbors had taken a peek inside the Atwater Village home in the 3400 block of Ferncroft Road. The  midday brokers’ open house was not even over but listing agent Lisa Brende with Coldwell Banker said four buyers had said they would be submitting offers for the pint-sized house, which had gone on the market only one day earlier at an asking price of $395,000, according to Redfin.

Asking $610 a square-foot may seem kind of high for a cottage that-albeit charming-will most likely need a lot of work. Still,  the inventory of Atwater Village homes priced below $500,000 is scarce while the pool of buyers is large.  “The price is great for Atwater,” said Brende. The owners will wait to review all offers after this weekend’s open house.

If  you don’t mind living in small spaces, here are some other nearby options in Eagle Rock and Silver Lake:

4461 Ellenwood Drive, Eagle Rock
Size: 748 square-feet
Asking Price: $399,000
Price Per Square Foot: $533
Details: The one-bedroom, 82-year-old  home with a red-tiled roof packs a lot of charm in a small amount of space, with a decorative living room fireplace, wood floor and arches. A finished one-car garage provided a whopping 112-square-feet of additional space.

924 Maltman Avenue, Silver Lake
Size: 676 square-feet
Asking Price: $599,000
Price Per Square Foot: $886
Details:  The listing on this 1926, Spanish Colonial-style bungalow plays up its location in a prize winning small lot project in the hills above Sunset Junction, where “you can walk down to Flore and munch vegan Style or go next Door to Naturewell and buy your E3 Live.”  There’s also an orange tree and an asking price that is nearly 45% above what the house sold for in 2008.



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6 comments

  1. These homes sound fairly spacious; my one-bedroom, one-bath single-family home in La Crescenta measures 486 square feet.

  2. Can you say “bubble”?

    Some folks never learn…

    • Certainly not a bubble. I can see why one, when looking on the surface of our current market, could make that assumption. But, those buying now in our zip codes and surrounding will see greater than usual capital growth.

  3. Pease don’t forget the awesome homes in Montecito Heights, especially Latrobe Street!

  4. I just live in my van. 40 sq feet on wheels.

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