Wednesday, October 26, 2016

Sales Report: A sampling of Eastside property deals

Photo from theMLS.com

Photo from theMLS.com

Elysian Heights

  • 2225 Loma Vista Place
  • Listed at $319,000
  • Sold at $405,000
  • This two-bedroom, 100-year-old bungalow on a stair-street (which means it’s only accessible via stairway and is not adjacent to a conventional street) sold for $86,000 over its asking price.

Some other Eastside property sales that closed during the past week:

Boyle Heights

  • 2533 Michigan Ave
  • Five-bedroom Victorian built in 1895
  • Listed at $370,000
  • Sold at $372,200

Eagle Rock

  • 2340 Yosemite Dr
  • A duplex with one-bedroom units and detached garage
  • Listed at $538,000
  • Sold at $485,000

Echo Park

  • 1068 Everett PL
  • Three-bedroom condo with views
  • Listed at $499,900
  • Sold at $525,000


  • 620 S Avenue 60
  • Renovated three-bedroom with central a/c
  • Listed at $699,000
  • Sold at $689,000

Mount Washington

  • 1155 Isabel St
  • Two-bedroom bungalow with garage
  • Listed at $449,950
  • Sold at $410,000

Silver Lake

  • 2284 Moreno Drive
  • 1928 Spanish Colonial with a guest house
  • Listed at $1.495 million
  • Sold at $1.525 million

Source: TheMLS.com & Redfin.com

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  1. Splitting hairs here, but that Highland Park house is actually in Hermon.

  2. It’s not just single family residences that are selling for above the listing price. Apartment complexes in Echo Park, even ones with WAY below market rental income, are selling for over asking. In the last few months a six-unit 1960’s apartment building on the corner of Sargent Place and Scott that was listed at $885,000sold for $1,252,000. All units are being rented out at early 1990’s rates. A four-plex on the corner of McDuff and Galveston was listed for $829,000 and sold for $930,000. This price was achieved even though a two-bedroom unit is rented at $695 and the two one-bedrooms are rented at $450 and $700.

  3. I walked around the Loma Vista place house. It needed new uphill AND downhill retaining walls, the foundation was loose rocks and brick from 100+ years ago, the layout made no sense, the roof was sagging and termite infested, and the property (recently split off from a larger parcel) was only a few feet bigger than the home in any direction. Also, a set of stairs that clearly used to lead to the backyard ran smack into a new fence that divides it from the old backyard. Overall a sad, desperate little place, and I can’t believe it sold for over 400k. I hope whoever bought it has the funds to make it livable and safe. And I hope they make it into a well-built little bungalow that respects the neighbors, rather than some ugly faux-modern mini-condo tower that we’re seeing more and more often in these parts.

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