By Jeffery Marino
Eagle Rock just got a little denser with the sale in October of 4847 Genevieve Ave.
Over the past year and a half, neighbors have watched as the lot was transformed from a single-family fixer with lots of potential into two brand new, self-contained homes.
The transformation was undertaken by ADU Homes, Inc., a company based in Long Beach that specializes in building “accessory dwelling units,” or second homes on a single lot, often a converted garage. ADU Homes bought the Genevieve Avenue property in September 2019 for $550,000. At the time, the property included an 825 square-foot, 3-bed, 1-bath bungalow with rough edges but good bones situated at the forward edge of a 5,500 square-foot lot. ADU Homes completely renovated the bungalow, which now resembles new construction and added a 3-bed, 2.5-bath, 1,200 square-foot home to the back of the property.
The listing description for the two-home property crowed, “. . . it is just plain wrong to refer to these as “units” – each of them are HOMES!” The homes sold for $1.6 million in October, which works out to $786 per-square-foot. Considering the fact that the median price-per-square-foot in NELA in October was $733, it seems that the buyer here got two homes for the price of one.
Check out the before and after below.
Before
After
There is no other source of real estate analysis like this. It’s expensive to give this to you. Please give back. [give_form id=”10189″ show_title=”true” show_content=”none” display_style=”button”]
Jeffery is a seasoned data journalist and has covered the California real estate market for over a decade.
