26th Thursday Apr 2012

Would You Buy This 16-Day Flip in El Sereno?

Written by: Vanessa
Comments: 0
Category: Flip Watch

1923 California Bungalow: 4402 Moonstone Dr., Los Angeles, 90032

This 16-day flip is a clear indication of the craziness that’s befallen the Eastside real estate market. Having just closed on 4/9 for $174k, this 1923 California Bungalow got what’s clearly a paint n’ dash job consisting of mostly cosmetic repairs. Based on looks and experience, I’d be really surprised if they spent more than $10k on this project–and that’s including the discount staging. So is it worth the nearly 100k up charge? Probably not, but they’ll get it.

The LLC behind these flips used to operate heavily in Highland Park and only recently moved into the deep Eastside. While in Highland Park, this crew produced very attractive flips at resale prices that were fair for what you got–typically, a turnkey, totally upgraded, vintage home. This move East makes me wonder if there was a falling out with their lead designer/partner (an agent at Keller Williams Larchmont) because everything they’ve put out lately looks nothing like what they used to do. Check out the before and afters below.

4402 Moonstone Dr., Los Angeles, 90032
2 bedrooms/1 bath
1115 sq. ft., 3800 sq. ft. lot
1923 California Bungalow
Remodel, Built-In Cabinets

The After: Living room

Dining room with original built-in cabinets



Rear view. Listing courtesy of Marissa Solis – Housing America Realty

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