Wednesday, November 5, 2014

McMansion update - This was just built next to my old home. This is 363 N Sweetzer Ave, Los Angeles, CA 90048

363 N Sweetzer, Los Angeles, CA 90048 - Modern McMansion over built for neighborhood
363 N Sweetzer is right next door to the home I sold for $1.1M in 2008. It was a 3 bed, 2 bath 1,500 sf home on a 6,500 sf lot. All the homes are just like this in the area. They are Spanish or Traditional all about the same size and age 1920-1930.

363 N Sweetzer sold for $1.2M in 2013 and was torn down to build the modern totally out of place McMansion. The home is almost triple the size and two stories. If they had tried to build this when I lived there, I would have shut them down. This is way over built for the area. Whoever buys this had better buy it to live in and not as an investment. Over built homes like these have limited buyers, take longer to sell and you generally don't get a good return on your investment. Below is a pic of what the home used to look like.

363 N Sweetzer Ave, Los Angeles, CA before it was torn down
363 N Sweetzer Avenue
Los Angeles CA 90048

​"Custom state of the art pool home adjacent to Beverly Hills and Hancock Park. This home features four bedrooms and five and a half bathrooms with almost 4,000 sq ft of living area. This home will have a state of the art Viking kitchen, an open floor plan with high ceilings and a custom pool with (sic) jaccuzzi."

Before and after side by side.

363 N Sweetzer Ave, Los Angeles, California 90048 - Before and after. 1,500 sf home turned into 4,000 sf modern mcmansionized monstrosity.
The problem here is old zoning called for 25' front setback, 5' side setbacks, 15' rear setback, 33' maximum height (3 stories), two car garage or carport on this lot. The lots are 50' x 150'. In theory you could have a three story square block home with built in garage or a maximum of 9,126 sf. Here is the specific zoning. The lot is R1-1. The FAR is 3:1, i.e. three times the buildable area. LA I think just reduced it or is trying to reduce it to 1:1. In this instance a 6,500 sf lot with a FAR of 1:1 could build a 3,600 sf home. If it stays at 3:1, you could build a 9,126 sf home which is ridiculous. 3:1 FAR is for multi-family residential in any other city. Normal FAR is 1:1 and in some areas it's .5:1. I think this 3:1 FAR is something leftover when you could build apartments, four plexes in the area. Across the street is a huge duplex which is two story built in 1928 which was featured in AD.

Mary Cummins of Animal Advocates is a wildlife rehabilitator licensed by the California Department of Fish and Game. Mary Cummins is also a licensed real estate appraiser in Los Angeles, California.

Mary Cummins, Mary K. Cummins, Mary Katherine Cummins, Mary Cummins-Cobb, Mary, Cummins, Cobb, real estate, appraiser, appraisal, instructor, teacher, Los Angeles, Santa Monica, Beverly Hills, Pasadena, Brentwood, Bel Air, California, licensed, permitted, single family, condo, pud, hud, fannie mae, freddie mac, uspap, certified, residential, certified resident, apartment building, multi-family, commercial, industrial, expert witness, civil, criminal, orea, dre, insurance, bonded, experienced, bilingual, spanish, english, form, 1004, 2055, land, raw, acreage, vacant, insurance, cost, income approach, market analysis, comparative, theory, appraisal theory, cost approach, sales, matched pairs, plot, plat, map, diagram, photo, photographs, photography, rear, front, street, subject, comparable, sold, listed, active, pending, expired, cancelled, listing, mls, multiple listing service, claw, themls,

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