Multiple Offers on this West L.A. Condo

To sell in this market, it’s all about the price.  This one-bedroom, one-bath, 824-square-foot unit at 12203 Texas Ave., #4, in West L.A. came on the market in August for $459,000. When it didn’t sell, the owner and the agent began slashing the price:  first to $429,000, then to $399,000, and again to its current $359,000.

Agent Melyssa Peters reports that there are now five offers on the property, and she was forthright about its status at her open house on Sunday.  Credit is so tight these days, she said, that she’s not taking any offer for granted.  In fact, she said, the unit recently fell out of escrow.

Melyssa noted that the multiple offers were a reflection of the small number of one-bedrooms on the market in the area — five or six total, she said.

Here’s a look inside:

Sold nearby:

12030 Rochester Ave., #206
Sold for $370,000 on 5/14/08
1BR/1B/702 square feet

1525 S. Saltair Ave., #B
Sold for $386,029 on 8/5/08
2BR/2B/920 square feet
History:  The oddball price, plus the fact that someone paid $460,000 for it in 2005, says this is a bank sale.

On the market:

1437 Stanford St., #B
$469,000
1BR/1B/800 square feet
Days on market: 95

11920 Dorothy St., #203
$389,000
1BR/1B/903 square feet
Days on market: 226