Builder home run? On the train tracks??
/Gideon Fountain posting for Christopher Fountain….
The current record price in this town for a property on the railroad tracks is $3,187,250, on Riverside’s Miltiades Avenue. That happened in 2016 and a bidding war pushed it up above the ask of $3,075,000. Now, it’s happened again, this time, a few blocks away, on Summit Road. The builder paid $827,825 in June, 2020, for the cute little shack that stood there since 1952. The ask was $895,000 and it took many weeks to find a buyer, so obviously, other builders did not see the potential here (Covid concern was still running pretty hot back then).
11 months later, the new house hits the market at $2,995,000 which I was certain was over-priced. That weekend, July 9th, 80 couples showed up for the public open house and, as with Miltiades, the ensuing bidding war pushed the sale price above ask. My guess is $3,200,000 (we’ll know soon), so the Miltiades record falls to the new king.
Listing broker: Kristy de la Sierra (Houlihan Lawrence)
Buyer broker: Julia Allan (Houlihan Lawrence)