Tiny homes in El Segundo

I’m sure plenty of people that get Redfin/Zillow notices flipped with excitement at seeing a number under $800K when they got the notice of 721 Bayonne St.

Coming in at a spacious 682 square feet it takes tiny home to a new level. But even at $799K it’s priced at $157/sqft for land value. That’s not exactly cheap.

900 Lomita sold at $150/sqft and it had a 1300 sqft home on it.
917 Sheldo sold at $119/sqft and it had a 1100 sq ft home on it.

So you have an out of towner agent (based out of Arcadia) sitting at her desk running some comps and hoping she can find another fool.

How many flippers are out willing to stick there neck out a what is most likely a 100% tear down on a 5000 square foot lot?  Two years and $1.1 million later and they have a home they hope will be worth $1.4 mil?

Let em stick their neck out because if and when the sky starts to fall it will be all these flips that need to cut bait and get out quickly.

 

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s