Understanding Highland Park’s Highest-Priced Home Sales

A Crestwood Way home in HIghland Park recently sold for over $800,000.

A Crestwood Way home in Highland Park recently sold for over $800,000.

By CHERYL JOHNSON

As the Northeast Los Angeles real estate market continues its current recovery, some prices at the upper end of the spectrum are inching ever closer to the one million dollar mark.

Let’s take an in-depth look at one recent $800,000 sale:  A restored hillside craftsman on Crestwood Way in the hills of eastern Highland Park with views. 

The property marketing remarks describe a 3 bedroom, 2 bath home with open kitchen and bright, airy living areas, a private balcony with views off the rear master suite and a large family room with fireplace on the lower level.

Originally built in 1929 as a duplex, the property was held by the same family for several years, passing from one family member to another in probate in 1987, until it was finally sold to an investor in July 2013 for $440,000.

The investor converted the structure from a duplex to a single family home, and in the process upgraded the plumbing and electrical systems, installed insulation, and completely remodeled and transformed the interior, all with city permits and approvals.

The property was listed for sale in March, 2014 at $799,000.  An offer slightly over asking price was accepted and the property closed on May 16, 2014 for $800,000.

The million dollar Highland Park home edges ever closer.

 

Cheryl Johnson is a realtor at Bob Taylor Properties in Los Angeles.

www.bob-taylor.com. 323.257.1080

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