In Los Angeles, $775k gets you this much house.

[Ns1]

Oh btw, in case you wanted to just tear it down...

Maybe a tear down due to the old age and illegal structures. It was disclosed that part of the building is on the neighbors lot and had legal disputes. Hostel owner/renter do not go direct. City has many violations and fines. Roof and structure is rotted and sagging, interior floors are weak and rotted, illegal electrical and plumbing. Possible toxic material stored in the yard. May have title issues as the lot shows a different address. No heavy equipment can be driven on the flag lot driveway, any working material may need to be hand carried and NO construction vehicles on driveway. Maybe toxic material under part of the units also. If rebuilding both units they will need to be to NEW codes. No covered parking present, or it was tore down. Fences may not be on property line. Not proper insulation in the walls. Do NOT go direct. There was a main sewer line blockage to the street, suppose to be fixed now. Lot is not level and not all usable. Small lot..

 

[crashtech]

Coat of paint and she's good to go!

 

[soulcougher73]

I can get this near me for 750k.

http://m.reecenichols.com/Mobile/Li...=0c152869-3aa6-4c00-863e-87ac5d9a0e49&first=1

 

[crashtech]

You can get a mini-mansion for 3/4 mil around here. But it's all relative.

http://magicvalley-realestate.com/98599046

 

[maddogchen]

thats nothing.

$2 million for a shack that you tear down just so you can spend a million more to build a house on it in Palo Alto.

http://www.cnn.com/2015/11/06/us/million-dollar-shack/

 

[Chiropteran]

In Arlington, you can get a sweet 1-bedroom for $849k

https://www.redfin.com/VA/Arlington/1610-N-Queen-St-22209/unit-222/home/56337538

 

[Ns1]

thats nothing.

$2 million for a shack that you tear down just so you can spend a million more to build a house on it in Palo Alto.

http://www.cnn.com/2015/11/06/us/million-dollar-shack/

you're really paying for that giant 7k square foot lot. the actual listing makes it seem not so bad.

https://www.redfin.com/CA/Palo-Alto/829-La-Para-Ave-94306/home/101679398

 

[Fenixgoon]

and now you know why i hated LA

1100 sq ft, 2 car garage, small yard, 1350/mo RENT - which means if i bought the place, it would be less.

 

[ponyo]

Sold price or asking price? Because I can ask for million dollars for my house. Doesn't mean anyone will pay it.

 

[Ns1]

and now you know why i hated LA

my solution is simple: make more money.

 

[smitbret]

Move to Idaho. Here's what $575,000 gets you:

http://www.zillow.com/homedetails/3021-Shelly-Pl-Pocatello-ID-83201/117850387_zpid/

or a hair under $500K

http://www.zillow.com/homedetails/4940-Johnny-Creek-Rd-Pocatello-ID-83204/113829607_zpid/

 

[IronWing]

OP, where in LA is the key question.

 

[SKORPI0]

http://www.trulia.com/for_sale/Los_Angeles,CA/0-750000_price/

$460k
http://www.trulia.com/property/3231882495-5206-Latham-St-Los-Angeles-CA-90011

• Single-Family Home
• 9 Bedrooms
• 5 full Bathrooms
• 3,684 sqft
• $125/sqft
• Lot size: 7,501 sqft
• Built in 1925
• 5 Days on Trulia

 

[Ns1]

OP, where in LA is the key question.

Echo Park, aka Hipster Park. Median Home Price > 800k, still climbing each month. Where's the ceiling NOBODY KNOWS.

 

[Red Squirrel]

lmao that's insane.

For 50k you can get something in similar condition here.

https://www.realtor.ca/Residential/Single-Family/16807159/6015-KING-ST-TIMMINS-Ontario-P0N1C0

That actually looks like a nice property too. Looks like bush in the back.

 

[Imp]

Meh, $2.5 M Canadian pesos for this thing:

http://www.cbc.ca/news/canada/british-columbia/vancouver-teardown-real-estate-1.3449869

 

[Ns1]

Meh, $2.5 M Canadian pesos for this thing:

http://www.cbc.ca/news/canada/british-columbia/vancouver-teardown-real-estate-1.3449869

real estate in Vancouver and Toronto is WTF right now too.

 

[SSSnail]

and now you know why i hated LA

1100 sq ft, 2 car garage, small yard, 1350/mo RENT - which means if i bought the place, it would be less.

Highly doubt that, they'll be asking at least $450K for that place.

Echo Park, aka Hipster Park. Median Home Price > 800k, still climbing each month. Where's the ceiling NOBODY KNOWS.

Wait what? Echo Park? Where "I AM KING KONG" was inspired? I guess it's kinda like the Mission in SF, once it's gentrified, there's no stopping the train.

 

[preslove]

It's probs a bad idea to buy a house anywhere on the west coast, right now. The chinese economy is on the verge of a pretty big fall, and capital flight from china has been a big driver of crazy real estate prices on the pacific coast.

 

[Ns1]

Wait what? Echo Park? Where "I AM KING KONG" was inspired? I guess it's kinda like the Mission in SF, once it's gentrified, there's no stopping the train.

EP started seriously gentrifying around 2006-2007 (after Silverlake went crazy), went full scale crazy itself in 2015, and hasn't slowed down since. Highland Park is a few steps behind but is also basically at crazytown levels.

 

[TwiceOver]

LOL. I looked and there were only 2 houses here above $700k And they are farking huge, on the lake.


5000sqft on 80 acres.

 

[Pocatello]

Move to Idaho. Here's what $575,000 gets you:

http://www.zillow.com/homedetails/3021-Shelly-Pl-Pocatello-ID-83201/117850387_zpid/

or a hair under $500K

http://www.zillow.com/homedetails/4940-Johnny-Creek-Rd-Pocatello-ID-83204/113829607_zpid/

But it's in Idaho!

 

[Ricochet]

Lived in LA for a year and pretty glad I got out of there. Outrageous real estate prices is just one of the reasons.

 

[Imp]

real estate in Vancouver and Toronto is WTF right now too.

If you don't buy now, you'll never be able to afford it, dude. Time to leverage yourself up, 100% of assets into housing, HOUSING NEVER GOES DOWN!!!!!

 

[preslove]

If you don't buy now, you'll never be able to afford it, dude. Time to leverage yourself up, 100% of assets into housing, HOUSING NEVER GOES DOWN!!!!!

Yup, and chinese capital is never going to stop flowing into west coast real estate!