11 Comments

1. 

   Thaylor Harmor on December 4, 2011 at 8:37 pm

   Did I see that right…an original sale price of $450,000 (1991) on this $10.9 million REO?

2. 

   Jim the Realtor on December 4, 2011 at 8:41 pm

   $450,000 is what they paid before building this out – and now it’s only $5,900,000.

3. 

   tj & the bear on December 5, 2011 at 12:11 am

   A minor tasteful remodel (exterior & interior) and that could be a real showplace. Absolutely killer view.

4. 

   econman on December 5, 2011 at 3:04 am

   Was the 450k for the lot?

   Any estimate on the amount of build-out?

   Over 28% annual ROI should have leveraged La Jolla RE………..instead in 1983
   was working in a band going to college, for $5 bux an hour plus all the beer we could drink.

   Should have raised funds, purchased this crib, forget about college……………..

   Oh well, off to work

5. 

   econman on December 5, 2011 at 3:11 am

   correction…………only 16.2% cash on cash with 20% DP

   Too early in the morning to do math………

6. 

   Housewife on cell phone passing you on December 5, 2011 at 6:02 am

   Econman: Off to work at 3am – what do you do?

7. 

   clearfund on December 5, 2011 at 6:57 am

   Klinge Realty Inc’s new headquarters!

   $450k for the lot. That lot today is likely worth $2mm+. Buy good land, sit on it, cash your check. No need to build anything. Shoulda, woulda, didn’t.

8. 

   François Caron on December 5, 2011 at 8:38 am

   Hm. Didn’t get a chance to see the basement or the garage. All I saw was other people’s houses and a lot of salty water. 😉

   Does anyone remember if Jim ever showed a house that had a view of the ocean from BOTH sides of the house? That’s a heck of a location!

9. 

   College Joe on December 5, 2011 at 4:32 pm

   The house is one of the most ostentatious and ugly homes I’ve ever seen. That thing isn’t a remodel, it’s a teardown.

   But the view is fantastic! You’re going to need to do a zero-edge pool out back and build a house that is tasteful…perhaps a nice modern design with big windows that go into the walls to take in the view. That’s what I would do….along with a real floor plan.

   I’ve driven by that house before and just have been in awe at how ghastly it is from the outside! Tacky…

   But the view is one heck of view! I bet the buyer tears it down.

   One thing though: It didn’t seem like there was any sunlight coming into the house from the back or onto the pool? Was that a time of day issue…or is that an all day issue?

10. 

    Housewife on cell phone passing you on December 5, 2011 at 6:41 pm

    There is a similar sized house a few blocks away that sold for $5.4M. The photos give some ideas of what this house could look like if tastefully updated.
    http://www.redfin.com/CA/La-Jolla/7356-Brodiaea-Way-92037/home/4921111

11. 

    MarkB on December 6, 2011 at 12:23 am

    Wow!

    One man’s tacky monstrosity is another man’s crib! Someone will buy that and occupy it as is. I personally would just get rid of the mirrors and redo the kitchen. I would stare out the windows for a week or two before even unpacking though. Wow!