LA Digs - Northeast LA Real Estate Blog

If the home you sell was your primary residence two of the last 5 years, guess what? There is no tax on your capital gains!

Whether we’re talking homes for sale in Glassell Park, commercial real estate in Eagle Rock or homes in Mt. Washington, nobody can dispute that it has been a seller’s market. Northeast Los Angeles real estate market remains red hot and many property owners have cashed in.

Though surely not everyone …

I can’t tell you how many times over the last 29 years someone has told me, “I don’t want to sell because I don’t want to pay the tax if I don’t buy another property within 2 years.”

Lots of interesting things going on in the market this week! Let's go through it quickly so you can get the scoop and get on with your weekend:

1. Did you see the "brand new hillside architectural live/work space" at 3126 Verdugo Place in Glassell Park? We saw it on caravan last week, and it's a cool property with FANTASTIC views and a neat rooftop deck with hookups for a jacuzzi. It was listed for $649,00, which is a great price for the property but I wasn't sure the neighborhood would stand up to a price that high. Well, looking at the MLS hot sheet this morning I see that Verdugo Place is in escrow - which is GREAT news for the neighborhood! We don't know what price it's in escrow at, but I'm hoping they got close to asking - or more!

2. There's a very cute little neighborhood (called "Floristan Heights" on title) located south of Colorado Blvd, off of Townsend Avenue, and it is filled with cute little houses (I know because I happen to live in this area!). And one of those cute little houses just recorded as sold in the MLS (Multiple Listing Service) for a tidy sum of $515,000. 1576 Glen Aylsa is a 3 bedroom, 2 bath and was recently renovated. It was originally listed for $490,000. This is more great news for this particular neighborhood - things are selling if priced right. It's not all doom and gloom around here!

3. We saw some really great properties on caravan yesterday, and we want you to buy one! Here's a quick peek:




5500 Nordyke Street, Highland Park: Wow, what a view! This 3 bedroom, 3 bath home sits on a 0.59 acre lot, obviously with fantastic views. It's clean and updated and ready for you to move in and escape from the rest of the city on your private hill. It's in a great neighborhood in Highland Park, tucked away almost to Eagle Rock. Listed for $499,000.




2652 Saxon Drive, Eagle Rock: This house has a ton of space, although it may not look like it from the outside. Four bedrooms, two baths in 1,700 SF, all sitting on a 3,060 SF corner lot. It's another Better Shelter flip, so it's done up all nice and pretty and ready for you to settle in. Another one that is tucked away in a nice neighborhood, and it has Eagle Rock schools, so even better. Also listed for $499,000.




1517 Avenue 47, Highland P ark: I love, love, love this property. I saw it when it was on the market as a distress sale, and I love what Elemental Homes (another fix-and-flip company) did. The front house has two bedrooms, two baths and a open, airy floor plan. The back house has two bedrooms, 1 bath. The deck in the back of the front house is amazing. It's all amazing. If I could buy it, I would! Amazingly, it is ALSO listed for $499,000! What a deal.

Alright, three great properties for you to consider. If you are interested and want to see one of them, give me a call at 323.243.1234. Or shoot me an email at keelymyres[at]gmail[dot]com. Tracy is taking off to Peru in the morning for a little adventure, so I'm in charge - don't hesitate to get in touch if you have any questions/comments.

That's it for now, have a great weekend!