Irvine
$850,000 for a 2400 sf home at $354/sf. The 3,375 sf lot has zero potential. Future resale is totally based on inflation.
San Marino
$1m for a 2,400 sf home at $416/sf (more expensive than Irvine). 10,000 sf lot at 60% FAR (floor area ratio)
allows for a 3,600 sf add on potential. Total future resale will be 6,000 sf x $416/sf= $2.5m. Cost of construction at $720,000 would net a $1.8 m assuming no inflation.
borca said:
zovall said:
La Canada/Pasadena/Glendale/Arcadia/San Mario/nearby cities
Nice areas.. what home or neighborhood (less than $1m) would you buy?
I would rank San Marino>Pasadena>Arcadia <(same)>Glendale (never been to La Canada) just by the look and feel only.
Those tall and aged trees at San Marino are really awesome, doesn't hurt to have Huntington Library nearby too. It has close to real privacy in those curvy roads with trees hiding the homes, while at the same time just a short drive from shopping and freeways.
To me San Marino/Pasadena is like Newport Beach/Irvine. While San Marino/Pasadena could be more pricey than Irvine, right?