After a bit of a lull to the market in January, which is typical for this time of the year, the Los Angeles market is slowly starting to heat back up. More inventory is starting to become available, and buyers who have made a home purchase a goal for 2018 are beginning to surface and get active in their search.
While I personally think the market may begin to slow in 2018, right now there are not many signs of that actually happening. With interest rates remaining low, demand is staying high, while inventory is still low, which is resulting in a lot of competition in the market. Stay tuned to see how the market performs over the next few months, as it gives us an idea on how the year will unfold.
One market that has been particularly struck with a lack of inventory is the Ocean Park neighborhood of Santa Monica. Luckily this week the neighborhood got a shot in the arm with the wonderful new listing at 2725 6th Street. Listed for $3,895,000 the home is a very unique 1923 Craftsman that has been extensively remodeled and includes three bedrooms and two bathrooms. The home is roughly 2,200 square feet on a 6,400 square foot lot.
The home abounds with character and charm, and has a whimsical curb appeal. The front steps of the house lead you to an enclosed porch – the type of feature you just don’t see in LA anymore. Once inside, the owner has done a brilliant job of opening up the floor plan so that the living and dining rooms blend in to one massive great room. In addition, the enormous chef’s kitchen flows seamlessly into the den and out on to the back patio via accordion style sliding glass doors. The perfect modern indoor-outdoor California lifestyle can be achieved in this home.
Despite this modern floor plan, the charm of the home has not been lost. It is preserved through timeless finishes, the original brick fireplace, built in book shelves, turn of the century styled doors and windows, and the classic Craftsman exterior architecture.
The master bedroom isn’t overly large, but features a spacious ocean view balcony, and an ensuite master bathroom with a soaking tub and a huge shower. There is also a second bedroom upstairs that could function as an office, in addition to the guest suite downstairs.
Two other very special highlights of the home are the lush backyard and the roof top deck. The home sits on a large 6,400 square foot lot, and since the home is two stories, that allows for maximum usage of said lot. The owner has utilized the space well with fire pit, garden, and sitting area under a pergola. It’s a fantastic area for entertaining and a rare space to find this close to the ocean. The roof top deck is secluded, private, and features sweeping ocean views. If you aren’t going to be located right on the water in Santa Monica, having a view of the ocean from a few blocks away is just as good.
With an excellent location, abundant charm, modern finishes, and a special ocean view lot, this home is incredibly unique. Despite its high price per square foot, I think the house is worth every penny, and I anticipate it should sell for at least the asking price.
If you have any questions about this top property, or the market in general, please feel free to contact me.