New Listing - single-story home in Westminster (15421 Maryknoll St)

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usctrojancpa

usctrojancpa

Well-known member
Earlier this week I listed a single-story home in Westminster, it is the grandparent's home of one of my clients and it's on the market for the first time in 44 years. The home features 4 spacious bedrooms, 2 full bathrooms, and sits on a 6,000sf lot with 1,903sf of living space. The listing price is $1,000,000. Seller will be reviewing offers on Monday, June 6th.

PM me or email (mmania001@yahoo.com) if you are interested in viewing this home. I'll be hosting an open house this weekend, 2-5pm on Saturday and Sunday, June 3rd and 4th.

Here is the Redfin link:

www.redfin.com

15421 Maryknoll St, Westminster, CA 92683 - 4 beds/2 baths

(CRMLS) Sold: 4 beds, 2 baths, 1903 sq. ft. house located at 15421 Maryknoll St, Westminster, CA 92683 sold for $1,150,000 on Jun 28, 2023. MLS# OC23093305. Opportunity knocks, first time on the market in ...
www.redfin.com www.redfin.com

Below is the link to the pictures and 3DMatterport virtual tour:

https://tours.previewfirst.com/pw/134310
 
sgip said:
Some great bones on that old soul. Should be a packed house today. Congrats on the new listing!
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Yeah, it reminded me of the 70s home that I grew up in not too far away in Huntington Beach. The home was definitely well cared for and will benefit from a full renovation so we did price it low to go fast.
 
Just curious why you didn't list this for $999,999 ?
Typical "Realtor" speak would say "you don't want to exclude MLS searches for homes < $1M."
I think you've proven that theory wrong. :D
 
This was on the redfin site for this address:


FOR SALE - ACTIVE

15421 Maryknoll St,
Westminster, CA 92683​



Rental Estimate for 15421 Maryknoll St​


$4,272 / mo
 
I can't imagine a flipper thinks there's still some juice to squeeze out of this property. Even after firehosing this home with "Navajo White" paint, dumping a few bags of cheap ground cover outside, and throwing a few Home Depot special SS appliances in a typical painted gray cabinet "Newly Refreshed Chef's Kitchen" might get the new price high enough to yield a flippers $100k average net profit per transaction.

Could there be another $2-300k in price gains still ahead post bidding war for this home?
 
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sgip said:
I can't imagine a flipper thinks there's still some juice to squeeze out of this property. Even after firehosing this home with "Navajo White" paint, dumping a few bags of cheap ground cover outside, and throwing a few Home Depot special SS appliances in a typical painted gray cabinet "Newly Refreshed Chef's Kitchen" might get the new price high enough to yield a flippers $100k average net profit per transaction.

Could there be another $2-300k in price gains still ahead post bidding war for this home?
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This to me is a sure sign of an impending bubble popping. Absolute lunacy.
 
OCtoSV said:
Someone would pay $5K/month to rent a house in Westminster? Unreal but still is a lower cap rate than just sinking it into Treasuries.
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So I was confused by your last sentence regarding treasury cap rates.
If this house sold for 1 million, and got 5,000/month as rent, then the annual rent is $60,000

So 60,000/1,000,000 = 6%.
So does this mean the treasuries cap rate is higher than 6%?
How does this work?
 
zubs said:
So I was confused by your last sentence regarding treasury cap rates.
If this house sold for 1 million, and got 5,000/month as rent, then the annual rent is $60,000

So 60,000/1,000,000 = 6%.
So does this mean the treasuries cap rate is higher than 6%?
How does this work?
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Dont forget property tax and insurance 😀
 
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