I was going to save this newly listed property for Monday but it got me so excited that it’s only right I post about it today. Since Father’s Day is coming up and we’ll be busy with family, I will just leave this profile up over the weekend. I’d love to hear your thoughts regarding the $2,500,000 monstrosity.
Five days ago I profiled a $2.5MM property renting for just $3,500. In exchange, you are required to showboat the home to prospective buyers. More details can be found here and many thanks to our reader T K Eng for the info.
Redfin caught the listing today providing additional details.
|Purchased Price||$625,000||:::||Lot Size||0.45 acres|
|Days on Redfin||1||:::||Baths||4.5|
*Estimated monthly payment assume 20% down, 30-yr fixed @ 6.50%
With the addition of this home, there are now 15 homes in Arcadia listing for over $2,000,000. It is definitely an elite club to be in since the buyer would have to be flushed with cash and have extra cashflow to maintain these homes. Heck, property taxes alone will be over $20,000 per year.
I have a few comments regarding this listing:
1) Where’s the landscaping? For $2.5MM I would expect some exotic landscaping, privacy trees and perhaps even a pool and spa. Instead, you get grass and some shrubs.
2) No privacy. Make sure you install curtains because the McMansion next door can monitor your every movement.
I could go on and on about this property but we’ll save that for the upcoming week. From what you’ve seen so far, is this the luxury home you would envision a multi-millionaire buying?