When my clients came to me, they had one neighborhood in mind and a firm ceiling: Los Feliz, $1.5M max. I knew we were in for a challenge.
I'm Breanne Wahl, a Los Angeles real estate agent with ACME | SERHANT. I represented the buyers of 2266 Ronda Vista Drive, a hillside fixer in Los Feliz with a 180-degree view, and I negotiated the price down to $1.35M.
Los Feliz on a $1.5M budget
90027 is one of the most sought-after zip codes in Los Angeles, and the priciest (and most star-studded) on the east side.
The good news: my clients were ready to take on a fixer. The catch: they needed four bedrooms, or at least room to add on. We wrote offers on a few homes that each drew a dozen or so offers and sold six figures over asking. One went for almost $1,300 a foot. For a fixer.
The house that kept coming back
This house was on their radar from our very first meeting, back when it was in pre-foreclosure. Then it was foreclosed on and relisted by a new agent, and it went under contract while my clients were on vacation. We found out the day they got home.
So I kept reaching out to the listing agent, hoping for a cancellation. When that buyer backed out, we were inside the house that same day.
What they bought
2266 Ronda Vista Drive is a 1959 hillside home in Los Feliz with two view decks and a view all the way to Pasadena. It was sold as-is, and it needs a full renovation.
It needs real work, and my clients are up for the heavy lifting (literally). But they needed more room in their budget to do it right, so I negotiated the price down to $1.35M.
A 180-degree view. The most coveted zip code on the east side. Room for their whole family. I couldn't be happier for them.
What this deal taught us about buying a fixer in Los Feliz
- Set your ceiling with the renovation in mind, not just the purchase price.
- Keep watching the homes you love, even through pre-foreclosure and foreclosure.
- A house under contract isn't gone. Stay in touch with the listing agent, because deals fall apart.
- Be ready to move the same day a door opens.
- Negotiate for the room you'll need to do the work right.
Thinking about a fixer in Los Feliz or Northeast Los Angeles?
If you want a neighborhood that feels out of reach at your price point, a fixer can be the way in. Let's make your plan.
Questions about this sale
Who represented the buyers of 2266 Ronda Vista Drive?
I did. I'm Breanne Wahl of ACME | SERHANT., and I represented the buyers of 2266 Ronda Vista Drive in Los Feliz, Los Angeles.
What did 2266 Ronda Vista Drive sell for?
I negotiated the price of 2266 Ronda Vista Drive down to $1.35M for my buyers, under their $1.5M ceiling.
Can you buy in Los Feliz for under $1.5M?
It's a challenge, because 90027 is one of the most sought-after zip codes in Los Angeles. Being open to a fixer, watching homes early, and staying ready for a contract to fall through helped my buyers get a 180-degree-view home in Los Feliz for $1.35M.