Monday, January 26, 2009
90402 vs 90403. How Much of a Premium for Land Values?
Lately, there has been some discussion on how much of a premium, should be placed on land values North or South of Montana Ave. If you were to build 2 houses, The first house, 1 block North of Montana, and another identical house, 1 block South of Montana, given the same size lot, on the same street, how much difference in value would there be? Is there that much difference between the the two zip codes?
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By the looks of your poll, lots are worth about $300,000 more in 90402 than 90403.
ReplyDeleteThe results of the 1st poll are in:
ReplyDelete0-$300K (56%)
300K-600K (37%)
600K-900K (6%)
Let's try breaking it down further in poll #2
1-150K, 150-300K, 300-450K, and 450-600K
W of 26th St 90403 (S of Montana) is primarily a multifamily zone whereas 90402 (N of Montana) is primarily SFR's. Thus, to draw a comparison between the two for new SFR construction probably has little meaning. How many new SFR's have been built in the 90403 multifamily zone in recent years? I can't think of any.
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