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Rate This $2m Gorgeous Craftsman in Santa Monica
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Date: March 15th, 2018 1:54 PM Author: Razzmatazz private investor parlour First time on market!!!
https://www.redfin.com/CA/Santa-Monica/1626-California-Ave-90403/home/6772086 |
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Date: March 15th, 2018 4:21 PM Author: rebellious pervert No, I'm pretty sure that's one of the gansta houses from Boyz n the Hood. (http://www.autoadmit.com/thread.php?thread_id=3919519&forum_id=2#35613114) |
Date: March 15th, 2018 1:55 PM Author: outnumbered mauve pistol tanning salon >> The interior features an open dining room with a "built-in" China hutch. << (http://www.autoadmit.com/thread.php?thread_id=3919519&forum_id=2#35611862) |
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Date: March 16th, 2018 1:38 PM Author: Glittery idiotic turdskin casino lol (http://www.autoadmit.com/thread.php?thread_id=3919519&forum_id=2#35619743) |
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Date: March 15th, 2018 1:56 PM Author: Bespoke olive meetinghouse lol (http://www.autoadmit.com/thread.php?thread_id=3919519&forum_id=2#35611870) |
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Date: March 15th, 2018 2:03 PM Author: Mind-boggling corn cake home Wow, Don't miss this rare opportunity (http://www.autoadmit.com/thread.php?thread_id=3919519&forum_id=2#35611931) |
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Date: March 15th, 2018 2:04 PM Author: Fuchsia field (http://www.autoadmit.com/thread.php?thread_id=3919519&forum_id=2#35611941) |
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Date: March 15th, 2018 2:52 PM Author: jet-lagged flatulent son of senegal voyeur (http://www.autoadmit.com/thread.php?thread_id=3919519&forum_id=2#35612381) |
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Date: March 15th, 2018 2:05 PM Author: Salmon nibblets den this is one of the more depressing one's I've seen. (http://www.autoadmit.com/thread.php?thread_id=3919519&forum_id=2#35611945) |
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Date: March 15th, 2018 2:14 PM Author: Razzmatazz private investor parlour Nearest comp supports the price, though the other house is on a much bigger lot:
https://www.redfin.com/CA/Santa-Monica/1244-14th-St-90404/home/6773686
Check out the drop in price from 06 to 09. I’m waiting for all these properties to get foreclosed upon again but I’m not sure that would happen so dramatically with the much more strict lending restrictions. |
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Date: March 15th, 2018 2:16 PM Author: Salmon nibblets den my wife keeps pointing out that there are decent houses in the hills for $1.3 million. Of course she has never tried to drive or park in the hills during rush hour.
i'm waiting for the next crash to either buy a house or buy income properties - of course hoping I dont get fired when there is no work during the next RE crash. |
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Date: March 15th, 2018 2:21 PM Author: Razzmatazz private investor parlour You won’t get fired since you’re too senior to be easily replaced at this point. just be slow and less money for a few years. Same with me.
The problem is that another RE crash means another stock market crash so that means I lose 30% net worth at the same time. |
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Date: March 15th, 2018 2:34 PM Author: Salmon nibblets den what does it matter if you lose 30% of your net worth? I wasn't going to sell all my stock to buy a house. (http://www.autoadmit.com/thread.php?thread_id=3919519&forum_id=2#35612246) |
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Date: March 15th, 2018 2:50 PM Author: Razzmatazz private investor parlour Um cuz I want to buy multiple properties to both live in and rent so 30% loss is a big fucking deal!
Obviously market timing doesn’t work but it’s disconcerting to have all the cash tied up in the stock market. |
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Date: March 15th, 2018 4:24 PM Author: Salmon nibblets den Why not just save your bonus for the next two years in something other than securities? That’s plenty to buy a $2 million house. (http://www.autoadmit.com/thread.php?thread_id=3919519&forum_id=2#35613142) |
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Date: March 16th, 2018 2:18 AM Author: vibrant fishy old irish cottage haunted graveyard false. market timing can work. (http://www.autoadmit.com/thread.php?thread_id=3919519&forum_id=2#35617367) |
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Date: March 16th, 2018 2:20 AM Author: Salmon nibblets den please don't ruin our wagecuck thread about modest gains over time and real estate investment. (http://www.autoadmit.com/thread.php?thread_id=3919519&forum_id=2#35617377) |
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Date: March 16th, 2018 2:24 AM Author: vibrant fishy old irish cottage haunted graveyard i spent years studying index-based investments and know a thing or two about asset allocation, the academic finance literature, tax-efficient investing, etc.
market timing being impossible is not strictly true. |
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Date: March 16th, 2018 1:27 PM Author: Razzmatazz private investor parlour Lol I am surrounded by phds who do this shit for a living and nobody has a fucking clue. They are educated gamblers. (http://www.autoadmit.com/thread.php?thread_id=3919519&forum_id=2#35619696) |
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Date: March 15th, 2018 2:37 PM Author: maroon brethren hall rofl at "partnership" (http://www.autoadmit.com/thread.php?thread_id=3919519&forum_id=2#35612274) |
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Date: March 15th, 2018 2:23 PM Author: Blue Electric National Security Agency Spot have u considered getting a moped to commute to work? could weave in and out of traffic (http://www.autoadmit.com/thread.php?thread_id=3919519&forum_id=2#35612119) |
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Date: March 15th, 2018 2:33 PM Author: Salmon nibblets den my wife would kill me getting a moped now for a 1 mile commute along Santa Monica Blvd.
I would not feel safe at all driving 4-5 miles down the hills in traffic. Also I doubt a moped could make it up some of the hills. |
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Date: March 16th, 2018 3:15 AM Author: Swashbuckling Locus cuz she loves that show? (http://www.autoadmit.com/thread.php?thread_id=3919519&forum_id=2#35617459) |
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Date: March 15th, 2018 2:25 PM Author: Stirring Nursing Home Water Buffalo Given that op is 100% a tear down, 50% difference in lot size seems significant. (http://www.autoadmit.com/thread.php?thread_id=3919519&forum_id=2#35612134) |
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Date: March 15th, 2018 2:28 PM Author: clear space Plenty of people with $2m would be happy living in that vintage craftsman. (http://www.autoadmit.com/thread.php?thread_id=3919519&forum_id=2#35612167) |
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Date: March 15th, 2018 2:05 PM Author: Excitant school headpube (http://www.autoadmit.com/thread.php?thread_id=3919519&forum_id=2#35611950) |
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Date: March 15th, 2018 2:06 PM Author: 180 onyx property puppy complete flame. Says built in 1923. No way the original owners *just* died (http://www.autoadmit.com/thread.php?thread_id=3919519&forum_id=2#35611959) |
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Date: March 15th, 2018 2:17 PM Author: Razzmatazz private investor parlour You must not be familiar wth prop 13.
The original owners children got the tax basis of their parents when original owners likely died in the 80s. That’s why they only paid $1500 in taxes in 2016. Now the grandchildren inherited the property and are too poor to keep it in the family so selling it for land value. |
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Date: March 15th, 2018 2:18 PM Author: outnumbered mauve pistol tanning salon how are they too poor to keep it for 1500 per year? couldn't they just reno it and rent it out? (http://www.autoadmit.com/thread.php?thread_id=3919519&forum_id=2#35612064) |
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Date: March 15th, 2018 2:21 PM Author: Salmon nibblets den if there are 6 grandchildren they can't all live there. (http://www.autoadmit.com/thread.php?thread_id=3919519&forum_id=2#35612106) |
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Date: March 15th, 2018 2:22 PM Author: outnumbered mauve pistol tanning salon not a CA-mo...can they not put in in an LLC and divide the rent 6 ways, or would that kill the prop 13 benefit? (http://www.autoadmit.com/thread.php?thread_id=3919519&forum_id=2#35612113) |
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Date: March 15th, 2018 2:25 PM Author: Submissive plaza CAmos are dumb shitheads (http://www.autoadmit.com/thread.php?thread_id=3919519&forum_id=2#35612130) |
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Date: March 15th, 2018 2:25 PM Author: Blue Electric National Security Agency Spot (http://www.autoadmit.com/thread.php?thread_id=3919519&forum_id=2#35612131) |
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Date: March 16th, 2018 1:30 PM Author: Slimy Cuck Principal's Office (http://www.autoadmit.com/thread.php?thread_id=3919519&forum_id=2#35619713) |
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Date: March 15th, 2018 2:28 PM Author: Razzmatazz private investor parlour Lol at the idea of 6 struggling actors/waiters forming a LLC and forking over $15k each for renos just to split $4k/mo rent. (http://www.autoadmit.com/thread.php?thread_id=3919519&forum_id=2#35612172) |
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Date: March 16th, 2018 1:37 PM Author: comical azn mad-dog skullcap That pencils out pretty easily... not sure why this is far fetched? 4 months to recoup?
EDIT: Misread... I'm an idiot. |
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Date: March 15th, 2018 2:36 PM Author: Salmon nibblets den they could rent it out without a LLC. But how much rent do you think you could get for that place split 6 ways, instead of selling it for a quick buck? (http://www.autoadmit.com/thread.php?thread_id=3919519&forum_id=2#35612262) |
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Date: March 15th, 2018 2:38 PM Author: outnumbered mauve pistol tanning salon yeah, i'm not a CA-mo so I assumed the rent would be much higher assuming a modest reno. question withdrawn (http://www.autoadmit.com/thread.php?thread_id=3919519&forum_id=2#35612279) |
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Date: March 15th, 2018 2:26 PM Author: Razzmatazz private investor parlour They’re poor which is why they can’t afford reno, which costs $$$$$. How much to get this liveble condition? $75-$100k? rental income will be like $4k/mo for a small bungalow under 1000 square feet.
So why spend that much money only to get $4k/mo split btwn 2-3 kids.
If they were shrewd, they’d spend $300k, make it a 2500 square foot house and flip it for $4m.
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Date: March 15th, 2018 2:28 PM Author: outnumbered mauve pistol tanning salon oh, yeah, i was assuming the rental income would be higher.
makes sense. |
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Date: March 15th, 2018 2:30 PM Author: clear space It would cost way more than that to make that a 2500sqft house, but you’re right about the general strategy.
They could probably scrape the lot and build something for a million that they could sell for 3.5ish. But they probably don’t have the million and so will forgo the 500k. |
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Date: March 15th, 2018 2:18 PM Author: 180 onyx property puppy claims "original owners"
there are many herbs and fruit trees planted with loving care by the homes original owners who enjoyed many wonderful years of love and memories here. |
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Date: March 15th, 2018 2:06 PM Author: sinister lilac bbw LMAO holy shit (http://www.autoadmit.com/thread.php?thread_id=3919519&forum_id=2#35611961) |
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Date: March 15th, 2018 2:19 PM Author: White boistinker travel guidebook do you think now is a good time to buy tho? wife and i are kinda sorta in the market. (http://www.autoadmit.com/thread.php?thread_id=3919519&forum_id=2#35612076) |
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Date: March 15th, 2018 2:22 PM Author: Salmon nibblets den no. wait 2 years. The uptick has stalled but we are still close to the peak if not there. (http://www.autoadmit.com/thread.php?thread_id=3919519&forum_id=2#35612108) |
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Date: March 15th, 2018 2:27 PM Author: White boistinker travel guidebook damnit earl i'll be 35 in 2 years (http://www.autoadmit.com/thread.php?thread_id=3919519&forum_id=2#35612145) |
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Date: March 15th, 2018 2:32 PM Author: Blue Electric National Security Agency Spot earl will be 42 (http://www.autoadmit.com/thread.php?thread_id=3919519&forum_id=2#35612220) |
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Date: March 15th, 2018 2:36 PM Author: Salmon nibblets den I'll cut you motherfucker. (http://www.autoadmit.com/thread.php?thread_id=3919519&forum_id=2#35612268) |
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Date: March 15th, 2018 2:22 PM Author: Blue Electric National Security Agency Spot #blessed (http://www.autoadmit.com/thread.php?thread_id=3919519&forum_id=2#35612116) |
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Date: March 15th, 2018 2:27 PM Author: big hospital jfc it looks like the house in Kansas where "in cold blood" happened (http://www.autoadmit.com/thread.php?thread_id=3919519&forum_id=2#35612144) |
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Date: March 15th, 2018 2:34 PM Author: talented shimmering set reading party this can't be sustainable. (http://www.autoadmit.com/thread.php?thread_id=3919519&forum_id=2#35612244) |
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Date: March 15th, 2018 2:42 PM Author: clear space It’s the land value. The real comps are the 2500sqft houses you could build there, which would probably build for a million and sell for like 3 or 4, so the price isn’t crazy from a developers standpoint.
Maybe that’s unsustainable, but it’s not that much more expensive than renting a similar thing.
It is probably overpriced for the small lot size, though. Not sure what the regulations are about house vs lot size there. |
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Date: March 15th, 2018 2:45 PM Author: jet laughsome dilemma blood rage LJL at any moron who would live there.
For comparison:
$1.8m in Houston, where there are plenty of good lawmo jobs: https://www.zillow.com/homedetails/12015-Taylorcrest-Ct-Houston-TX-77024/28226098_zpid/?fullpage=true
$1.8m on 5 acres in Oyster Bay, PREFTIGOUS NYC suburb: https://www.zillow.com/homedetails/327-Calf-Farm-Rd-Mill-Neck-NY-11765/31164745_zpid/?fullpage=true
$1.9m and 6400 square feet in Nashville, one of the fasted growing cities in the country: https://www.zillow.com/homedetails/4001-Dorcas-Dr-Nashville-TN-37215/41142041_zpid/?fullpage=true
$1.5m with insane views in Miami: https://www.zillow.com/homedetails/1040-Biscayne-Blvd-APT-4607-Miami-FL-33132/82416392_zpid/?fullpage=true
$1.6m on 1.1 acres with views of Lake Michigan in Lake Forest, PREFTIGIOUS Chicago suburb: https://www.zillow.com/homedetails/1350-E-Westleigh-Rd-Lake-Forest-IL-60045/4897262_zpid/?fullpage=true |
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Date: March 15th, 2018 2:51 PM Author: White boistinker travel guidebook christ. we need to move. (http://www.autoadmit.com/thread.php?thread_id=3919519&forum_id=2#35612376) |
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Date: March 15th, 2018 3:08 PM Author: jet laughsome dilemma blood rage (http://www.autoadmit.com/thread.php?thread_id=3919519&forum_id=2#35612512) |
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Date: March 15th, 2018 4:03 PM Author: jet laughsome dilemma blood rage (http://www.autoadmit.com/thread.php?thread_id=3919519&forum_id=2#35612931) |
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Date: March 15th, 2018 7:14 PM Author: Lime sneaky criminal yeah but LA is where GC parasites make the real $$$ (http://www.autoadmit.com/thread.php?thread_id=3919519&forum_id=2#35614565) |
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Date: March 15th, 2018 8:09 PM Author: jet laughsome dilemma blood rage Pretty sure some people in NYC make money. Then you can live in a mansion on the North Shore of Long Island on 5 acres for the same price. (http://www.autoadmit.com/thread.php?thread_id=3919519&forum_id=2#35614984) |
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Date: March 16th, 2018 2:16 AM Author: dashing brindle stain telephone Nashville house is trashhhhhhhhhhhhhhh (http://www.autoadmit.com/thread.php?thread_id=3919519&forum_id=2#35617357) |
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Date: March 16th, 2018 2:19 AM Author: Harsh curious psychic brunch Lake Forest one seems cr (http://www.autoadmit.com/thread.php?thread_id=3919519&forum_id=2#35617375) |
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Date: March 16th, 2018 1:23 PM Author: jet laughsome dilemma blood rage Looks chill as fuck, brother. (http://www.autoadmit.com/thread.php?thread_id=3919519&forum_id=2#35619674) |
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Date: March 15th, 2018 2:51 PM Author: arousing newt location We’re looking in South Pasadena and La Canada. Not very inspiring inventory but Santa Monica seems far worse! Is it all the Hollywood people? (http://www.autoadmit.com/thread.php?thread_id=3919519&forum_id=2#35612378) |
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Date: March 15th, 2018 2:53 PM Author: clear space There’s only so much beach, I guess. (http://www.autoadmit.com/thread.php?thread_id=3919519&forum_id=2#35612394) |
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Date: March 15th, 2018 10:40 PM Author: green antidepressant drug Grew up in/around one of those areas. Good luck, it's a hot bed of ALL CASH CHINESE BUYERS. (http://www.autoadmit.com/thread.php?thread_id=3919519&forum_id=2#35616179) |
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Date: March 15th, 2018 4:05 PM Author: Soul-stirring spruce degenerate shitlib This costs $2M because it's in a zone where you can build a multi-unit townhouse or small apartment building (like the one next door to it). It will be bought by a developer for that purpose. The house on the lot is irrelevant.
R2 Low Density Residential. This Zoning District is intended to provide areas for a variety of low-density housing types. These include single-unit housing, duplexes and triplexes, low-scale multi-unit housing, townhouses, and courtyard housing with at least 2,000 square feet of parcel area per unit exclusive of City and State density bonuses. In addition to low density residential development, this District provides for uses such as transitional housing or hospice facilities, family day care, and neighborhood serving uses such as childcare, neighborhood grocery stores, and community facilities that may be appropriate in a residential environment. |
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Date: March 15th, 2018 4:22 PM Author: comical azn mad-dog skullcap This was going to be my Question.
Someone would obviously raze that house. |
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Date: March 15th, 2018 4:21 PM Author: rebellious pervert Welcome to the upper-middle class, motherfucker. (http://www.autoadmit.com/thread.php?thread_id=3919519&forum_id=2#35613124) |
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Date: March 15th, 2018 10:40 PM Author: Puce slippery ceo lay What’s his name (http://www.autoadmit.com/thread.php?thread_id=3919519&forum_id=2#35616182) |
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Date: March 16th, 2018 2:03 AM Author: dashing brindle stain telephone tear down (http://www.autoadmit.com/thread.php?thread_id=3919519&forum_id=2#35617321) |
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Date: March 16th, 2018 2:18 AM Author: Harsh curious psychic brunch Lonely and dreaming of the West coast (http://www.autoadmit.com/thread.php?thread_id=3919519&forum_id=2#35617369) |
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Date: March 16th, 2018 3:18 AM Author: Twinkling self-absorbed chapel guy who enjoys first world real estate prices here, sup (http://www.autoadmit.com/thread.php?thread_id=3919519&forum_id=2#35617463) |
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Date: March 16th, 2018 1:25 PM Author: Crystalline Theatre LMFAO (http://www.autoadmit.com/thread.php?thread_id=3919519&forum_id=2#35619681) |
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Date: March 16th, 2018 1:32 PM Author: Slimy Cuck Principal's Office lol @ calicucks (http://www.autoadmit.com/thread.php?thread_id=3919519&forum_id=2#35619728) |
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Date: March 16th, 2018 1:34 PM Author: Zippy mental disorder BUY NOW!! PRICED WELL BELOW $2.1m ZESTIMATE!!! https://www.zillow.com/homedetails/1626-California-Ave-Santa-Monica-CA-90403/20478133_zpid/?fullpage=true |
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Date: March 16th, 2018 1:37 PM Author: Crystalline Theatre a BUILT-IN CHINA HUTCH! (http://www.autoadmit.com/thread.php?thread_id=3919519&forum_id=2#35619738) |
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Date: March 16th, 2018 1:39 PM Author: clear space One more thing to tear out. Lol. (http://www.autoadmit.com/thread.php?thread_id=3919519&forum_id=2#35619748) |