I was talking to a local real estate agent out here and was quite surprised to learn that they’re still flipping properties in this market. Take this property on 23340 Bassett St. in West Hills. It has 1,670 square feet of space and is going for $359 a square foot. It’s relatively new on the market. This three-bedroom, two-bathroom home has upgrades like granite countertops, recessed lighting and stone flooring. The owner, I’m told, is a broker and her husband is a contractor.
The husband and wife pair flip on a regular basis in the area and though their margin may be more modest, they do make a decent profit. I suppose they don’t have to worry about the cost of commissions and some of the remodel overhead, so that’s how they can still turn a profit.
Got any stories to share about a flipped property in this neighborhood or any other? I’d love to hear it.
For this Monday, I’ll leave you with a few of my picks in the Valley.
Reduced In Woodland Hills: 21901 Dumetz Rd./3bd, 2bth/$545,000 to $525,000
New Construction Fresh On The Market In Tarzana: 4411 Angostura Pl./4bd, 2bth/$879,000
Bang For The Buck In Calabasas: 3948 Black Bird Way/4bd, 6bth/$244 a square foot (average sold: $366 a square foot)/$939,900