I stand corrected. Somehow I had assumed it was a 1BR, probably based on the 635 square footage. Have you been by the property yet? I just went by, and I’m still struggling to find anything that makes this property worth anything close to what they’re asking. I’m curious what you see in it.
Yes, it’s west of Sunset Cliffs… BUT:
As you know, the standard OB lot is 25 feet wide and sidewalk to alley. But Long Branch is a narrow street and the lots are not as deep, and it looks like it may not even be the full 25 feet wide. Even by OB standards this is a small lot. It has no view potential, and really not that great a location within OB. Parking is tight and the only off-street parking is a really beat single car garage. Both the garage and the house have flat roofs and neither has been well maintained. It’s a basic stucco saltblock. Very cheap construction. It will require a lot of rehab to draw prime rent income, and after all that you’re still stuck with a bad floorplan.
So we’re talking $549 for a scraper on a tiny lot. And it wouldn’t even make that great of a scraper. New construction probably wouldn’t be able to keep the existing setbacks so you’d have to do a save-this-wall “remodel.”
