Purchased for $1,615,000 in early 2004 having already been renovated, the single-family home at 1738 Lake Street returned to the market last March listed for $2,100,000.
Reduced to $1,950,000 last April, to $1,890,000 last May, and then $1,780,000 last July, the four-bedroom Lake Street home was withdrawn from the market last August.
Back on the market today and listed for “$1,499,000” as a short sale.
The sale of 1738 Lake Street closed escrow on Friday with a reported contract price of $1,500,000 ($504 per square foot), officially “over asking” (by $1,000) but 8 percent under its year 2004 sale price.
∙ Selling Short In 2011 Having Gone Long On Lake In 2004 [SocketSite]
Actually seems like a good deal here. I like this part of Lake and think this was a good buy from a sight unseen perspective. Seems like a lot of house / potential for a decent @500/psf.
It is a good deal but the house needs work so that part is priced into $1.4m. I think for it to sell at $2.1m, it needed to be a bit more spiffier of a home. With work, it could be a $2.1m home…