Inventory on the Westside has increased throughout April as we head into the busiest time of the year for real estate. The rise in new listings across all price ranges has been a welcome sight for buyers, but demand is still incredibly high and those new listings are getting snapped up left and right.
One of the most difficult things to find in today’s market is a single family home in Ocean Park due to the neighborhood’s increase in prices and a lack of inventory. Even harder to find than just a home in Ocean Park, is finding a home in Ocean Park with a yard. Luckily, this week’s top property is just that.
706 Navy Street is one of the most iconic Craftsman homes in the neighborhood because of its ornate architectural details and massive yard space courtesy of a double lot. The home itself is a 3 bedroom, 3 bath in roughly 1,800 square feet, is set on that rare 5,500 square foot lot, and is listed for $4.2 million.
The home is one of the original Craftsmans in the area, having been built in 1908, which along with the extra yard space, is why the home is listed at such a high price relative to the square footage. Additionally, no expense was spared in the restoration of the home which includes radiant heat in the floor, extensive woodwork and built ins, and unique light fixtures.
Despite the restoration and modern amenities, the home retains most of its original charm. The floor plan is very formal (which is typical for the time period) and includes a living room, dining room, kitchen, and den on the first floor, all of which are separated by walls. You won’t find a great room in this house, but that is a big part of its charm.
I personally love the yard space that creates a sanctuary feeling for the entire home and includes a nice patio space off the dining room that is a perfect entertaining space. It is so rare to find such a large yard West of Lincoln that the space almost seems out of place. The home and the lot it is set upon is truly a unique property in the neighborhood.
Since the home is on a fairly busy street and because the home is not as close to Main Street and the Beach as many of the other larger Craftsman homes in the area, its location is not A+. However, since Rose Ave and the burgeoning enclave of Lincoln are both nearby, it is still solid location.
Because of the uniqueness of this home’s architecture, quality of construction, and generous lot size, I expect it to be sold quickly and most likely close to its rich asking price.
If you have any questions about this top property, or the market in general please do not hesitate to contact me.