Nestled in a star-studded neighborhood in Los Angeles, the home at 1755 N. New Hampshire Avenue is the ultimate example of trading space for location.
The historic 480-square-foot bungalow went on the market with an asking price of $449,000 — and the sellers recently accepted an offer for even more than that. The small home with a big price tag has garnered lots of attention, said Mark Mullin, of Tracy Do Real Estate in Pasadena.
“It’s the smallest free-standing home that we’ve ever sold,” he said. “It just has this vintage charm to it that you could never imitate.”
Take a virtual tour of the home here, and you’ll see what he means. The house is in a cluster of old bungalows, similar to the type that were built as worker housing in the 1920s. It makes good use of outdoor space, and is laid out “like a home twice its size.”
Still, what really makes this home desirable is not its charm, but its location within walking distance to Los Feliz Village, an affluent Los Angeles neighborhood that has attracted a notable list of celebrity residents.
“It’s like the Tribeca of Los Angeles. It’s very hip,” Mullin said.
And while 480 square feet might seem a tough sell for some, Mullin said he wishes he had more homes that size. They appeal to a new generation of home buyers, one that is turning away from the distant suburbs. They’re willing to live in a smaller space if it allows them to get closer to where they want to be: downtown.
“They’re not turned off by the size. They like the idea of living with less,” Mullin said. “And that’s been great.”
Photo Courtesy of: Tracy Do Real Estate