There was a time, you see, when people could buy a house, maybe fix it up and maybe not, then put it back on the market and gain $200k, $300k or more in 6 months.
History will show that was 2002-2005.
Some people believe that time is now.
Example: A small duplex on Manhattan Beach Blvd.
Purchased August 2006 for…
There was a time, you see, when people could buy a house, maybe fix it up and maybe not, then put it back on the market and gain $200k, $300k or more in 6 months.
History will show that was 2002-2005.
Some people believe that time is now.
Example: A small duplex on Manhattan Beach Blvd.
Purchased August 2006 for $1,495,000.
For sale now for
$1,875,000 (list date 1/31/07).
To be fair to the flippers, they tricked it out inside. Listing says "completely refurb in 2006" and features: "Remodeled kitchen w/gaggeneau appliances, wok burner, deep fry, convec oven, wine cooler & granite/tile counters." No pics of the interior, tho.
Is this house worth $1.9 million?
Location is a problem. Its beachy, cottagey, old-Manhattan feel is sort of ruined by the large buildings on either side of it, and the choking traffic. It's right near the intersection at Valley/Ardmore. Your view from that front deck/patio is of the cars lined up at the red light.
Livability is a problem. It is two 2br/2ba units. You imagine someone is expected to make this a full-blown investment, in which case both rentals must cover a mega mortgage, or you live in half and rent out half. As the owner/landlord, you get a crap location ("steps from downtown," true, but watch your steps!), a small home and tenants for $1.9 million.
Maybe these sellers know something, or maybe they need a calendar.
Please see our blog disclaimer.
Listings presented above are supplied via the MLS and are brokered by a variety of agents and firms, not Dave Fratello or Edge Real Estate Agency, unless so stated with the listing. Images and links to properties above lead to a full MLS display of information, including home details, lot size, all photos, and listing broker and agent information and contact information.
Based on information from California Regional Multiple Listing Service, Inc. as of August 14th, 2024 at 6:10am PDT. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.