Caravan June 5, 2012:
There was only one new Huntington Palisades property on Caravan today:
- 530 Toyopa Drive $11,750,000
6 Bedrooms / 8.5 Baths – House: 9,562 sq/ft/ Lot: 17,990 sq/ft
The direct comparable sale for this house is 458 Toyopa. I represented the buyer and the seller on this transaction, which closed September 2, 2011 for $9,808,000. The differences are the following: the house at 530 Toyopa is roughly 750 feet larger and the lot is 6,000 feet smaller. I prefer the layout of 458 Toyopa. Specifically the access to the yard from the house seems to work better and the kitchen / family room on 458 Toyopa is exceptional, and in my mind superior. I prefer the approach to 458, which feels further from the street and the transition down from the street feels a bit more natural. The current market is stronger than September of 2011. Given all of this information I feel 530 Toyopa to be fully priced and perhaps a bit more.
- 398 Alma Real Drive $2,495,000
3 Bedrooms / 3 Baths – House: 2,513 sq/ft / Lot: 11,463 sq/ft
An example of little inventory and lots of demand. Due to the tenant, the agent had just an hour and a half window to show the house. The property sold immediately in the range of $100,000 over the asking price.
- 765 Alma Real Drive $2,495,000 – Looking for Back-Up
3 Bedrooms / 3.50 Baths – House 2496 sq/ft / Lot: 7579 sq/ft
In escrow. A great opportunity to build in the Huntington. This is a corner lot so the side setbacks are more restrictive than a typical lot. The biggest negative is that the neighboring house on Alva sits very close to the property line and the second story looks down on the rear yard of this property. Privacy will be limited and it will be difficult to create privacy through planting.
- 14930 Alva Drive – (previously reviewed) Previously Listed for $5,750,000. Now: $5,595,000
5 Bedrooms / 6 Baths – House: 7,190 sq/ft / Lot: 12,050 sq/ft
The new front door adds light to the entry and the newly stained floors are much lighter in color and in feeling. The pool has been expensively tiled, which helps the overall feeling of the rear yard. My advice, once again, would have been to paint the entire house white. The house is per foot is priced well. They will continue to look for the buyer that appreciates this particular style.
- 15050 Altata Drive – $7,549,000 ( previously reviewed) Now has an accepted offer
5 Bedrooms / 5.75 Baths – House: 7,270 sq/ft / Lot: 12,000 sq/ft
Pocket Listings / Coming Soon To The Huntington
- View side of Alma Real
Approx. 3800 sq/ft / Lot: 14,113 sq/ft Call for more information.
- 838 Toyopa Drive – Previously listed at $2,195,000.
5 bedrooms / 3.5 baths – House: 2,557 sq/ft / Lot: 8,050 sq/ft
New listing will be under $2M, which is getting close to land value. The house has Creosote, which can be a huge impediment to selling a house. The new listing agent is a family friend of the sellers. They should have stayed with the old agent. Imagine taking you biggest asset away from the local expert and handing it over to a friend. This must be the only asset class where owners act so irrationally?
- 516 Ocampo Drive – Sold $7,800,000
7 bedroom / 9.5 baths – House: 7,500 sq/ft / Lot: 8,800 sq/ft
Sold at over $1,000 a foot on a smaller lot, this is an indication that the market is very strong in the Huntington.