Our La Canada fixer on a large lot just closed! And here’s the back story of 4720 Orange Knoll Ave. La Canada.
I originally connected with the out-of-area seller just a few days before leaving on a ten-day cruise. She met with my partner Kris Jardino, and they started the listing process. As the home was a fixer and because of the 4/10ths of an acre-level lot, we believed the likely buyer to be an investor. We had the home professionally cleaned and then virtually staged.
We listed on June 6th at $1,799,000 and received four offers. Two of the offers were from investors. A cash offer was accepted June 16th. We sold this La Canada fixer to an investor with no concessions for $2,075,000. The buyer intends to subdivide the large lot and build two new homes, if not three.
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Wow what a great above asking price. Especially since the buying frenzy has slowed. That must be one happy seller.
3 homes on this lot would be criminal – less than 6,000 square feet per lot. Also, an “investment property” 2 houses away from the freeway. Certainly weird times we’re in 😳🙃
Government loves collecting those tax dollars, we shall wait and see if he gets the three approved or just two.
True, but I’m curious about it as an investor. In other parts of LA, mansionization is encouraged and you’ll see home square footage surpassing the actual size of the property, but La Cañada is so strict with house size. That sucks as an investor and the ability to utilize the lot in the best way to make money.