Two days ago I profiled a decent property on Oxford Drive that was overpriced by $200k. Today we have a home on the same street. It lacks the charm and desirability but asking for over $500 per square feet.
481 Oxford Dr.
Arcadia, CA 91007
Price: $850,000 ($502 per sq. ft.)
- Beds: 3
- Baths: 2
- Sq. Ft.: 1,692
- Lot: 0.32 Acres
This property is literally 1 block West of Tuesday’s profile:
From the photos, it looks old, cheaply remodeled and lacking any desirable landscaping for its third-acre lot. This is a knife catcher hoping to find another knife catcher. The seller purchased this home for $680,000 four months ago. At $402/sf, it was overpriced to begin with. Do you think the “newly remodeled” 481 Oxford is now worth $502/sf after four months?
So what should we value this property?
$350/sf – $592,200
$300/sf – $507,600
Oh yea, did I mention this was located right next to the 210fwy?
$680k in remaining 2008 selling season if another smart knife catcher comes along.
$592k in 2009.
$500k in 2010.
$450k in 2011.