Deal Spotlight: 624 Swarthmore

Listed May 13 (Broker description below the line)

Asking price (per Zillow): $1.7MM Lot size (per Zillow) 7,228 sf

Why I like it: Great location in the Via Bluffs with park/canyon views at a very appealing price.

Why else? At 7,228 sf, it is a great sized lot to build up to a 3k+ sf home (though the most recent structure per the Assessor office was just 1,625sf, limiting the fast track rebuild to about 1,787 sf -- which I think is too small for the area). I like that the rea of the property has the best exposure over the park/canyon, allowing for an ideally positioned back yard / pool for the new property. NOTE: This property may be subject to Hillside Area Regulations, which will likely impact the rebuilding process.

Why it stands out: Priced at just $235/sf, this lot is materially below comps that have come in closer to $350/psf. 607 VDP (a block away) just sold for $358/ft, though it claimed ocean views (that said, this property has views, so trading more than $120/ft cheaper seems like too much of a discount). Non-ocean view Via lots have traded closer to the mid $200's/sf, but this lot is better situated (with Hillside caveat).

Click the photo for the link. All data deemed to be accurate. When making a decision to buy or sell you should seek the advice of a trusted real estate professional.

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FROM THE BROKER: "HUGE opportunity to purchase one of the LARGER LOTS with one of the lowest price tags on the incredible Swarthmore Ave.   The property features unobstructed views of Potrero Canyon and walking distance to Palisades Village!  The lot is 7,228 sqft and sits just below Sunset Blvd. This location provides close proximity to the Bluffs, beach access, and top-rated schools! Neither Seller nor Broker/Agents guarantee the accuracy of allowable footage, lot size, permits or other information concerning the property. Buyer is advised to independently verify the accuracy of all information through personal investigation and/or with the appropriate professionals. Buyer is responsible for determining square footage of structures, permits and lot lines."