Monday, December 11, 2017

Recent Sales on Poinsettia Place

Poinsettia Pl is in small historic pocket near the Grove.  The Historical pocket goes from La Brea to Gardner and from Beverly Blvd to Third St.  The houses are quaint and charming and a short walk to The Grove.  The streets are wide and lined with trees.  There are coffee shops and great restaurants all around.

Recently Sold Home Poinsettia Place

The house at 161 S Poinsettia was modestly cosmetically remodeled a few years ago.  It is now tenant occupied.  It is in escrow for $1,750,000 with a backup offer in place for the same price.  Both offers allow for the house to be delivered with the tenant in place.

The house right next door at 157 S Poinsettia recently sold with multiple offers for $1,960,000.  That house was remodeled with no expense spared and it was staged to perfection.  The lawn is manicured with mature landscaping, the materials used throughout the house are high end and the latest trends and designs, and there is a wood deck at the back of the house.   No pool and no family room.recently sold home Poinsettia Place Miracle Mile

La Brea Ave has undergone a transformation with new shops and restaurants opening, such as Sugarfish, American Rag, and Undefeated.  House prices continue to go up as supply is limited and demand gets higher and higher.  Both the buyer with the accepted offer and the backup buyer are moving to the area from other areas and that’s a trend we keep seeing.

The Bienstock Group specializes in selling homes in Hancock Park and Miracle Mile for TOP dollar for our sellers.  We love what we do!

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Thursday, December 7, 2017

Recent Renovations on Detroit Ave

One of the most popular properties to buy in the Hancock Park/Miracle Mile area is a duplex.  There are only 3 streets (and 12 blocks) of duplexes that are Hancock Park adjacent – Detroit Ave, Orange Ave, and Mansfield Ave.  The Bienstock Group is currently representing the buyer buying two duplexes on Detroit Ave.  Both duplexes are in original condition and fully vacant.  Our buyer plans to extensively remodel both units in each duplex and then to turn around and sell each property to an end user for a profit.

As a seller, having a local area specialist, like The Bienstock Group, sell your property gets you top top dollar.  We’re representing the buyer buying these two duplexes because both were sold to him under market, leaving room for our investor to turn around and make a profit on resale.  We will resell both duplexes for top top dollar.  

The duplexes in our area are rent controlled.  Once a tenant moves in that tenant is protected and can only be relocated if an owner will occupy the space.  Therefore, duplexes that are delivered either vacant or with tenants paying market rent sell for the most money.

The highest sale of a duplex in the area was 349 N Mansfield that sold for $2,895,000 with the upstairs delivered vacant and the downstairs delivered with a tenant paying 5500/month in rent.  The duplex was extra large with almost 6000 sq ft of living space on a 7157 square foot lot.   The second highest duplex sale was 348 N Orange Drive, which had a little over 5000 square feet of living space and sold for 2,800,000.  Both units were delivered vacant at the close of escrow.  

At The Bienstock Group we sell properties for top top dollar and we love what we do!

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Tuesday, December 5, 2017

New Listing: 1445 S Ogden in Picfair Village

Boxed in by Fairfax Boulevard and Hauser Boulevard, Picfair Village is a small but thriving neighborhood halved by its main drag, Pico Boulevard. Named after the now-gone Picfair movie theater, the Village is home to everything from vintage stores carrying midcentury modern furniture to gift and apparel shops, plus casual eateries that cater to the large number of residents within walking distance.  Favorite spots to eat include Breakaway Bakery, My 2 Cents, Olson’s Scandinavian Delicatessen, Powerplant Superfood Cafe, and Bloom.  

 

The area is undergoing a revitalization, and we are proud to present a taste of it with our new listing at 1445 S Ogden.  The house at 1445 S Ogden is a brand new 33-ft high cutting edge architectural modern home with no expense spared!  

The house features a hip open floor plan with 11 ft ceilings down, 10 ft ceilings up, 9 ft high doors, state-of-the-art free-floating staircase framed in glass, Fleetwood glass doors, Jelwyn windows, and lush mature greenery all around.

The upstairs features 4 beds, including an oversized master suite that overlooks the pool + spa with water features. The downstairs features 1 bedroom suite (currently staged as an office), a large formal dining room, an open living room with a fireplace, Italian kitchen with abundant storage, Thermador appliances, and a huge adjacent breakfast area. The laundry room is upstairs and has abundant storage.  There are 2 five ton American Standard AC units with Nest thermostats, lush marble and plumbing fixtures throughout.  The house is wired for sound, and it has an Ipe wood deck.

When it sells, this house will be the highest priced sale in the neighborhood.  The Bienstock Group prides itself on selling homes for top top dollar for the clients we represent.  We love what we do!

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Friday, December 1, 2017

Multi Family Development for Sale West Hollywood

The Bienstock Group presents an exciting opportunity to buy a development site with ready to issue plans.

This stellar off-market development will be home to three levels of large condo/apartment units. The 17 units will have 26,500 Sq Ft. of habitable living space. Ranging in size, from 1,836 SqFt. 3-bedroom units to a 1,028 SqFt. 1-bedroom + den. One level of subterranean parking.

The lots are zoned R3 and the total lot size is 14,000 square feet.

The 17 condos built will sell for around 20M conservatively by the time they’re all built. As apartments they will be able to collect rent between $925,000-$955,000 gross.

The sales price is 5.3 with a close of escrow date immediately after the city issues formal approval to build the 17 units on the lands. The sales price is 5.6 with a close of escrow date immediately after the city issues approval to do all the plans to begin construction on the site.

This is an off-market opportunity presented by The Bienstock Group, and there are currently offers on the table that are in negotiations. For more info and to receive a market package, please reach out to Sheri Bienstock at 323-428-3956.

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Thursday, November 30, 2017

CicLAvia

CicLAvia is a non-profit organization that has created  a fun and healthy way to connect with the Los Angeles community providing a safe space for locals to bike, skate, rollerblade and dance through the city.

CicLAvia has opened streets throughout the San Fernando Valley, Culver City, Venice, Mar Vista, Wilshire Blvd., Koreatown, MacArthur Park, South LA, Echo Park, Chinatown, Little Tokyo, Boyle Heights, Historic Downtown, East LA, Pasadena, Pacoima, Arleta, Panorama City, and Southeast Cities. Their goal is to address active transportation, urban land use and public health needs in Los Angeles. Being the largest open street events in the United States, CicLAvia’s free for all events have impacted local and regional transportation policy relating to pedestrians and bikes!

Visit CicLAvia.org to learn more and save the date for the next local event!

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Wednesday, November 29, 2017

Highland Park Bowl

Known as Los Angeles’ oldest bowling alley, Highland Park bowl was established in 1927 in the midst of the prohibition era. The building originally consisted of a doctor’s offices, pharmacy, a music store, and recreational space.

During this time, patrons would obtain a legal prescription for medicinal whiskey on the second floor and then head down downstairs to have their prescriptions filled which allowed for legal “boozing” while bowling. It wasn’t until 1933 that the music store was approved for a live music permit which paved the way for the establishments modern day culture.

Today, Highland Park Bowl is known as a trendy antique filled spot with live music, craft cocktails, and food! According to LA Weekly, the bowling alley serves some of the best Pizza in Los Angeles! “top-shelf Southern Italian pizza is being crafted in the kitchen by Italian-born master pizzaiolo, Marco Aromatario”.

Stop by Highland Park Bowl this weekend for a night of music, laughter, history, and fun!

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