New Listing - Helena Plan 3 townhome @ Eastwood (125 Breakwater)

usctrojancpa

usctrojancpa

Well-known member
I listed a turnkey Helena Plan 3 corner lot townhome in Eastwood earlier this morning on MLS. The home was built in 2016 by Irvine Pacific and features 3 upstairs bedrooms and 2.5 bathrooms along about 1,708sf of living space and a wraparound yard. The home is listed for $1,388,000.

PM or email me if you are interested in seeing it. I will be hosting open houses this coming weekend on Saturday, July 22nd and Sunday, July 23rd from 1-5pm.

Here is the Redfin link:

www.redfin.com

125 Breakwater, Irvine, CA 92620 - 3 beds/2.5 baths

(CRMLS) For Sale: 3 beds, 2.5 baths ∙ 1708 sq. ft. ∙ 125 Breakwater, Irvine, CA 92620 ∙ $1,388,000 ∙ MLS# OC23130258 ∙ Located in the prestigious Eastwood Village in the heart of Irvine, this turnkey Helen...
www.redfin.com www.redfin.com

Pictures and the virtual tour are in the link below:

my.matterport.com

Explore 125 Breakwater, Irvine, CA, 92620 in 3D

Matterport 3D Showcase.
my.matterport.com

If you guys are in the area, come by and say hello. :)
 
irvinebullhousing said:
What the hey? Does this mean that you will no longer have goodies for tomorrow open house? :) Or are you even need to have an open house at all? Congrat.
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Ever since Covid I stopped doing the goodies because people are very nervous around food that's had people walking by it.

I ALWAYS do my own open houses because as I tell the Sellers, for every listing with open houses I get 1 buyer either for the listing or for something else later . It really is a great way to meet people, including new future clients like even neighbors who call me about selling their homes now they see my closing prices. ;)
 
OCtoSV said:
Kickin butt in any market - nicely done USC
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Just taking care of my clients, that's all. This client followed all of my recommendations by doing some minor repairs, touch painting, landscaping work, and partial staging. I told them they would get 5x+ on what they spent to make the home look great.
 
Another 3 offers in for a total of 8 offers with 4 being all cash. We had over 60 set of buyers come out to this weekend's open houses. All of the offers are at list price and above. I'll be reviewing offers with the sellers Monday evening and send out best & final counters Tuesday morning.
 
Nice job Usc. It is unreal there are that many offers for 1,700 sqft attached condo with almost $1.4 mil list price. Buyers are getting more desperate even in high interest rate environment.
 
It's not clear with many offers which ones will be purchased as an investment and which ones will be owner occupied*, but from what you can tell about the 8 offers, how many do you believe are investment transactions?

*Lots of "owner occupied" offers are simply people trying to get owner occupied rates when they really have no intention of ever living in the home.
 
An attached condo for $825 per square foot and we get a bidding war! Non-cash buyers need not apply?? Just when I think the level of craziness has peaked, it gets worse. True SFR should be $1,000 per square foot. Good thing I already own a home because I can’t afford it now :(

PS Congrats USC
 
Where do multiple families get 1.4 million dollars in cash? I did the math in the last 9 years I made 1.3 million gross, after tax, ss, and living expenses I don't think I can come up with that kind of money.
 
ScottWilson said:
Where do multiple families get 1.4 million dollars in cash? I did the math in the last 9 years I made 1.3 million gross, after tax, ss, and living expenses I don't think I can come up with that kind of money.
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Foreign money.

Also, I work in the high tech industry and I personally know many couples who are both engineers. They could easily bring in $600k to $1M gross in ONE year alone. RSUs are worth A LOT. Take NVDA, for example, that was trading around $110 back in Oct 2022 and now at $460. How much do those NVDA engineers make?
 
I would imagine people with RSUs would live in the Bay Area, if you are working for big tech and coming to Irvine its an easy transition if they get to work remotely. Those mid-level Nvidia software developers probably make $200-300k in base salary per individual, the RSUs the real kicker. I'm honored that people want to move from the Bay to Irvine.

In Irvine the only other big players that may have RSUs is Amazon, Google, Rivian as they have regional offices down here. But that population has to be pretty small to commit to buying a 1.5M home. The property tax alone would make me cry.
 
We have received a total of 15 offers, 10 of which are all cash. The top offers around around mid $1.4s. The best & final counters are due by Thursday at 5pm.
 
usctrojancpa said:
We have received a total of 15 offers, 10 of which are all cash. The top offers around around mid $1.4s. The best & final counters are due by Thursday at 5pm.
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Are the cash offers below asking? Blows my mind that someone would pay all cash for an attached condo as an investment when they can get 8% in B rated corp bonds. Irvine RE appreciation belief is a strong religion for many. But happy for you USC - profit off their ignorance.
 
OCtoSV said:
My worst call ever - flame away
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The silver lining being my market is still going strong as well with nothing under $2M listed in my zip (total of 19 homes listed and no condos). I just need this insanity to last another 2 yrs or so to cash out and make my escape to South OC.
 
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