Under $400 in Eagle Rock

We haven’t seen decent houses under $400,000 in L.A. for a long time (since 2004?). I’m not saying these places are palaces, but they are within reach for a lot of new buyers. Prices have been falling everywhere, but I’ve noticed some big dips lately in parts of Eagle Rock—a lot coming from houses that have sat on the market for a while and probably were priced too high to begin with, so maybe they are coming down to a reasonable level. Here are a few of the lowest-priced listings in the area, all under $365,000!

This 1/1 is on a lot smaller than most houses at 1,665 square feet. Still, it’s cute, in a central area and promises move-in condition. It also looks like a distress sale. It’s listed for $345,000, but it’s last sale in 2005 was for $406,000.

Next is a fixer in the hills that border Mt. Washington. It’s $359,000 and is a 2/1.75 with 1,456 square feet. The lot is just over 7,400 square feet. Looks like another set of sellers in trouble—the last sale was in fall 2007 for $527,213.

Last up is a 3/2 that’s actually in Glassell Park. It’s got 1,251 square feet on a corner lot with 3 bedrooms, 2 baths, and yet more sellers who had problems. It’s an REO for $365,900. Last sale was in July 2007 for $531, 477.