Wednesday, October 26, 2016

Eastside Property: What does $450k buy in Highland Park?


By Marni Epstein

HIGHLAND PARK — With the real estate market continuing to pick up steam these days we wonder what a budget of $450,000 can still get you in Highland Park.  From classic Craftmans to models of mid-century suburbia, here is a sample of homes on the market. Just prepare to squeeze yourself into a small space and save up for some fixing up.

5264 Raphael St 1

5264 Raphael St, 3bd, $439,000

Classic detailing like hardwood floors and built-ins in the dining room accompany an out-of-date kitchen in this Highland Park Craftsman. A large, new deck has potential for outdoor living.

Coringa 1

4960 Coringa Dr., 3bd, $449,000

This home is a time-capsule 1954 ranch house, complete with original range. Keep it like “grandmother’s house as the ad notes, or bring it into the 21st century, as the the large driveway and front yard offer plenty of space for additions.

Holland 1
721 Holland Ave, 3bd, $450,000

This fixer-upper has a large front porch and a private back yard with which to enjoy the summer temperatures. Erase the overgrown foliage with some sheers and landscaping and this could be a backyard hideaway you’ll actually want to get lost in.

Marni Epstein is an entertainment, music, and lifestyle Journalist and resident of Echo Park. She has previously worked in the film and digital media industries with FOX and Sony Pictures Entertainment. She is currently also pursuing a Masters in Historic Preservation.

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  1. This is so depressing. You know a neighborhood is past its prime when well-employed DINKs can’t afford it. Goodbye Highland Park, hello somewhere-else-I-won’t-mention-for-fear-of-inflating-the-market.

  2. Unfortunately these are only list prices. These properties will sell above the list price.

  3. Wow, in answer to the question in the headline — not enough, is what $450K buys.

  4. Potential home buyers who can afford $450,000 might also consider expanding their searches for duplexes up to $480,000 or so. When I purchased my duplex, the lender allowed 75% of the second unit’s income to count toward my income. For example, if you find a duplex with a unit that rents for $800 a month, the lender might count $600 of that rent toward your income, which helps you qualify for a bit more.

  5. Coringa is a nice street up in the hills. I’m surprised that house isn’t being sold for more, which makes me think there must be something pretty major that is wrong with it.

  6. Damn those are expensive. Right back to the ’06 height of the market prices. Feel bad for all of those people who weren’t buying and waiting for a “bottom”. Might be too late.

    • Bottom was 2009/10 and beginning of 11 when I purchased my 1,800 sqf Highland Park home for 350K…on top of a quite hill.
      It will go down again at some point, but when?

  7. We’ve been renting here (HLP) since 2006. Agents literally stalk us to “sell”… they drive up and down the street and make cold-calls to my cell phone. The joy of Wall Street and hedge funds driving what is seeming more and more like yet another bubble!

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