Bank owned Steven Hill architectural for sale in Silver Lake

Bank owned Steven Hill architectural for sale in Silver Lake If you have been hoping to find a distressed property in a great area of Silver Lake, this bank owned Steven Hill architectural at 1700 Redcliff should be a pleasant surprise. Unfortunately it is not in the Ivanhoe school district but it’s still in a terrific Silver Lake neighbor with close access to all  Silver Lake has to offer. Steven Hill was one of the most prolific architects working in Silver Lake in the 1980s, but apparently he continued to design homes into the 90’s as this property was completed in 1998.  Unlike most of his local projects, the house on Redcliff is covered entirely with shingles- quite a departure for other Silver Lake and Los Felz homes of his design.

1700 Redcliff - Silver Lake architectural home is bank owned

The entrance opens to a spacious living room with a fireplace and spreads out to the kitchen and dining room. The most recent owners added a huge deck off the dining room that allows for great indoor-outdoor flow for entertaining.  There are 4 bedrooms, 2.5 bathrooms in 2,620 sf of living space. The three story house has direct access from the attached 2 car garage and the exterior is surrounded with shrubbery that provides both privacy and a sound barrier from any traffic noise from the street below.

1700 Redcliff- great entertaining deck with Silver Lake  views

Upstairs, there is an enormous master suite with walk in closet and a fireplace of its own. On the same level are 2 additional bedrooms with large closets and a second bath. There is a bonus room on the lower level that could be used as a bedroom, gym or home office.  The property is now vacant. Here is a slide show from the current listing. 1700 Redcliff had previously been listed in November 1999 listed for $999, 000 as a short sale. Even with price reductions, it stayed on the market for 161 days on the market without selling. I would venture to guess that this has much more to do with the fact that it was short sale than any fault of the property itself.  (If you are new to short sales and seek more information, you can read a prior post here to understand what a short sale is.)  This could very well be a prime example of a bank making a big mistake by not being willing to negotiate a short sale. Perhaps the bank could have clear a couple hundred thousand more than they did by foreclosing.  The current list price is a fabulous deal at just 749,900.  The banks loss will truly be some lucky buyer’s gain! To see this property or for more information on bank owned and short sales in Los Angeles County and buying or selling property in  Silver Lake, Echo Park, Los Feliz, and surrounding areas, contact me directly at 213-215-4758 or check out Jenny Durling signature Jenny Durling Broker Associate L.A. Property Solutions 213-215-4758 Copyright © 2011 By Jenny Durling * Bank owned Steven Hill architectural for sale in Silver Lake*

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