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Rate This $2m Gorgeous Craftsman in Santa Monica
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Date: March 15th, 2018 1:54 PM Author: lavender soul-stirring site 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: slimy church fortuitous meteor 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: bearded school coldplay fan >> 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: Flushed station party of the first part 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: Fluffy selfie library 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: Supple nursing home haunted graveyard 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: Brass Yapping Factory Reset Button Stage (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: indigo low-t abode (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: Useless Beady-eyed Area 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: lavender soul-stirring site 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: Useless Beady-eyed Area 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: lavender soul-stirring site 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: Useless Beady-eyed Area 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: lavender soul-stirring site 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: Useless Beady-eyed Area 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: jet therapy kitchen 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: Useless Beady-eyed Area 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: jet therapy kitchen 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: lavender soul-stirring site 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: Smoky heaven 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: Stirring aquamarine boistinker 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: Useless Beady-eyed Area 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: Multi-colored parlour 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: Exciting Abnormal Gunner Pozpig 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: cobalt bossy home 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: vivacious dark alpha (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: claret boltzmann 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: lavender soul-stirring site 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: bearded school coldplay fan 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: Useless Beady-eyed Area 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: bearded school coldplay fan 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: mint stock car 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: Stirring aquamarine boistinker (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: Balding hell (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: lavender soul-stirring site 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: dead house 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: Useless Beady-eyed Area 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: bearded school coldplay fan 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: lavender soul-stirring site 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: bearded school coldplay fan 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: cobalt bossy home 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: claret boltzmann 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: Spectacular grizzly antidepressant drug 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: Emerald rebellious brunch 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: Useless Beady-eyed Area 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: Emerald rebellious brunch 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: Stirring aquamarine boistinker 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: Useless Beady-eyed Area 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: Stirring aquamarine boistinker #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: Mentally Impaired Hyperventilating Theater Prole 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: alcoholic regret 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: cobalt bossy home 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: pearly electric mental disorder 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: Emerald rebellious brunch 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: pearly electric mental disorder (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: pearly electric mental disorder (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: Fear-inspiring saffron point macaca 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: pearly electric mental disorder 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: metal turquoise ticket booth philosopher-king 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: black cumskin 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: pearly electric mental disorder 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: Wonderful crusty tanning salon 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: cobalt bossy home 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: Submissive cream reading party halford 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: Disturbing trip lay 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: dead house 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: slimy church fortuitous meteor 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: ivory whorehouse really tough guy 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: metal turquoise ticket booth philosopher-king 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: black cumskin 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: Sexy wrinkle international law enforcement agency 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: 180 white center candlestick maker 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: Balding hell 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: Provocative quadroon native 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: 180 white center candlestick maker 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: cobalt bossy home One more thing to tear out. Lol. (http://www.autoadmit.com/thread.php?thread_id=3919519&forum_id=2#35619748) |