Boulder NOTABLE SALE: 2926 16th Street| $1.25M
This little pocket of North Boulder has been a hotbed of redevelopment for the past decade. Mid 50’s ranches, like this one, are a hot acquisition target for developers. The simple box on top of a box design is perfect for adding a second story and pushing out the back, although many architects will try to convince you to start over completely. Both approaches have merits.
From a valuation perspective, you’re looking at a slightly smaller than typical lot size. This one also had no basement. My bet is on complete deconstruction, which means the value of this lot is the transaction cost ($1.25M) plus another $75K or so to take down the existing obsolete home. It’s a good comparable to keep in your pocket for more listings that may arise this spring and summer.
Note: The approximate hotspot boundaries are Broadway on the west and 19th street on the east, Growing Gardens on the north and Balsam on the south.
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Note: The Realtors at House Einstein did not represent the buyers or sellers of this property. Our discussion of notable sales is designed to help educate you on market conditions and make a smarter real estate decision.
Osman Parvez is the Founder and Employing Broker of House Einstein. Originally from the Finger Lakes region of New York, he lives in Boulder with his wife and their Labrador Retriever. He has been a Realtor since 2005.Osman is the primary author of the House Einstein blog with over 1,200 published articles about Boulder real estate. His work has also appeared in many other blogs about Boulder as well as mainstream newspapers, including the Wall Street Journal and Daily Camera. For more information, click HERE.
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The ideas and strategies described in this blog are the opinion of the writer and subject to business, economic, and competitive uncertainties. House Einstein strongly recommends conducting rigorous due diligence and obtaining professional advice before buying or selling real estate.
