Address: 27 Trailing Vine, Irvine, CA 92602 (Northpark)
Plan: 1500 sq ft – 3/2.5
MLS: S476804 DOM: 13
Sale History: 05/11/2006: $616,500
Current Price: $679,900
This Plan 3 condo in the Tamarisk tract built by William Lyon Homes was purchased from the builder in May of 2006 with 20% down. Although it’s in the 92602 Zip, this tract (and the Mericort tract by California Pacific Homes) have nothing else around it (except for an affordable? housing apartment complex) – so I don’t believe it’s actually in the village of Northpark. I just wasn’t sure what to call it. Although the tract doesn’t belong to a proper village, it is in a pretty convenient location (near I-5 and Culver).
It was listed on the market 1-2 weeks ago and the private remarks on the listing say “HOME IS VACANT. GO DIRECT. SELLER WANTS TO SELL NOW, WRITE ANY OFFER. THANK YOU FOR SHOWING”. Was this home purchased with the intent to flip? Was it a job relocation? YOU decide!
If sold at the current asking price and assuming 6% in selling costs, the sellers are looking at a profit of around $22,000.
The most recent second hand sale I’ve found in this tract was a Plan 3 located at 81 Trailing Vine. 81 Trailing Vine was purchased from a flipper for $635k on 5/30/2006. The flipper bought it for $535k from the builder on 10/19/2005. The 81 Trailing Vine flipper made about $62k (after assuming 6% in selling costs) in about 7 months! No wonder there are so many people trying to flip homes in Irvine.
I wouldn’t be surprised if $635k turns out to be the highest priced sale in this tract for a long time.