The Bienstock Group recently sold 815 S Ogden in Miracle Mile in Los Angeles for $1,650,000. It was the highest sale ever on Ogden Ave in Miracle Mile for a one story house. The house is 2,271 square feet on a 6,000 sq ft lot. It was built in 1924. It has 3 beds and 3 baths. We listed the house for $1,500,000 on January 19, 2017 and we sold it immediately for cash for $1,650,000. The sale closed on February 6, 2017.
Home Renovations – To prepare the house for sale, we redid all the hardwood floors and we replaced the old carpet with new carpet in two bedrooms. We painted the exterior and the interior of the house. The kitchen cabinets were green and we painted them white. We removed a built-in breakfast nook in the kitchen that was dated. We planted new grass in the yard and we freshened the landscaping. We staged the house with rented furniture. Total investment for improvements was around 20,000.
The Desirable Miracle Mile Neighborhood – On May 1, 2017 the Miracle Mile HPOZ was created so this house is in an HPOZ – historical preservation overlay zone. The goal of the HPOZ is to maintain the character of the neighborhood from the street. The borders of the new Miracle Mile HPOZ are La Brea and Fairfax on the east and west and Wilshire and San Vicente on the north and south. This house is in the new HPOZ area.
This Miracle Mile area is also undergoing a surge in interest because of the new Metro subway line being built along Wilshire Blvd with a subway station nearby at La Brea and at Fairfax. The new Miracle Mile HPOZ pocket is very close walking distance to museums, shops, and the new subway line.
Recent Home Sale Miracle Mile
In summary, we sold 815 S Ogden for $150,000 over the asking price. We listed the house for $1,500,000 and we sold it for $1,650,000. It is the highest sale for a single-story house on Odgen Street ever.