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11263 Mississippi Los Angeles, Ca

11263 Mississippi Los Angeles, Ca. # of similar sized Actives in Zip Code – 18 Pending in Zip Code – 11 (up from 2 three weeks ago) Sold (Last 90 Days) in Zip Code – 11 Average DOM – 95. 14,363 Sq Ft 12 Units 9932 lot Built in 1987 632-B6 90025. SUBJECT OVERVIEW.

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11263 Mississippi Los Angeles, Ca

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  1. 11263 MississippiLos Angeles, Ca # of similar sized Actives in Zip Code – 18 Pending in Zip Code – 11 (up from 2 three weeks ago) Sold (Last 90 Days) in Zip Code – 11 Average DOM – 95

  2. 14,363 Sq Ft 12 Units 9932 lot Built in 1987 632-B6 90025 SUBJECT OVERVIEW

  3. 1+1’s + Loft – 1100 sq ft = 480k-499k 2+2.5’s – 1350 sq ft = 550k – 580k These numbers are pretty solid. In this area the cheapest 2 bedroom that is on the market is 545k for a 1055 sq ft - 2+2 at 2121 Beloit. The active average price for a 1200 sq ft -2+2 in the zip code is about 585k. The Realtors I spoke with (For Montana, Wellesley, and Mississippi) have all been saying the exact same thing. They have all been saying that properties will move if they are priced well. They said the west side is a high demand area and there are plenty of buyers out there if a good product comes on the market. ALL of the agents I have spoken with said they have adopted the “price slightly below market strategy” and watch it get bid up to near the originally desired price. Most of the time much faster than if it was priced higher from the start. One particularly good agent Joanna Farmer 310-938-2972 was saying that the market always slows down between November- the Super Bowl (We all know that) and that she is seeing more activity in the area over the past couple of weeks. Even with the not-so-great street the building is on, we are still walking distance from some cool spots (Which some of the quieter, more interior buildings sit on) and the exterior has some nice features that could make it a luxury like building.

  4. Mississippi Rental Comps Like everywhere rents are going higher and higher. The building manager on 2033 Beloit is saying they have one 2 bedroom left that is renting for 2200/mth then when another comes up they are going to rent it a 3000-3600/mth. She was saying all the larger buildings in the area are doing the same. I drove around to try and verify this but I found some reasonable units available. There is not a lot of inventory around but I found a 1300/mth – 1+1 for rent at 1832 Corinth and a 1750/mth – 2+1 – unit for rent at 11633 Iowa. Granted these are in basic apts with little to no amenities or cache but they are with in a half a mile from the subject. I also found a 2600/mth – 2+2 – with w/d hookups at 1845 Beloit. The building is similar to the subject. All in all I would say, fixed up, our 1000+ sq ft 1+1’s will rent for about 1750/mth and 1200 sq ft 2+2’s will rent for about 2500/mth. These are pretty standard L.A. rents. The exact price will depend on what the units look when they are rented.

  5. Active Comps • 2121 BELOIT AVE#307 • 1055 Sq ft – 2+2 – Blt in 1985 Active for 545K DOM 32 MLS – Newly converted condo in 2005. The property was feature in the Home and Garden television show.Located in the 3rd. floor,there are not units above. Kitchen has Italian cabinets,wood floors, stainless appliances, large master suit and a nice floor plan, side by side parking. Close to shops, theaters and restaurants This right around the corner Distance from subject .1 miles

  6. Sold Comp 1831 Barry # 1164 Sq ft – 2+2 – 9600 lot – Blt in 1968 Sold for 530k 1/26/07 DOM 90 MLS FABULOUS CONTEMPORARY CONDO IN PRIME WEST LA LOCATION SITUATED IN A SMALL COURTYARD COMPLEX. FRONT FACING UNIT W/ LARGE BALCONY ON TREE LINED STREET. HIGHLIGHTS INCLUDE: BAMBOO WOOD FLOORS, PLANTATION SHUTTERS, REMODELED KITCHEN AND BATHS, CUSTOM TILE WORK AND MASTER WALK-IN CLOSET. ADDITIONAL STORAGE ABOVE PARKING. OPEN FLOOR PLAN AND GREAT FEEL FOR ENTERTAINING! Distance from subject - .5 miles Pretty basic building on a quiet, interior street. Nothing fancy.

  7. Pending Comp 11867 Idaho #1 1232 sq ft – 2+2.5 – Built in 1971 Pending for 629k DOM 11 MLS –WONDERFUL TOWNHOUSE WITH A YARD. GREAT WEST LA LOCATION. 2 BALCONIES, HARDWOOD FLRS + NEW CARPETING. INSIDE LAUNDRY. SPACIOUS BEDROOM W/ LOTS OF STORAGE. MOVE IN CONDITION. OPEN HOUSE SUN. FEB 5 1-4 + TUES FEB 7 11-1. Distance from Subject - .9 miles Nice clean area that is quiet and interior but nothing that much better Than any of the surrounding areas of the subject and this unit may be selling for over 600k

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