The pitfalls of owning a trophy property…

Doing business in Los Angeles, I am lucky to come across some spectacular homes on a regular basis. From beautifully restored historical properties in the flats to cool penthouses in vibrant downtown to Architectural showstoppers in the Hollywood Hills. It is especially with the latter where the devil is in the details...

Modern architectural lines and surfaces are very smooth, exposing any crack or imperfection quickly. Peeling paint, small stucco cracks and not perfectly straight walls can be easily hidden in a Mediterranean Home. A modern showcase will very quickly show its age if not properly cared for.

Smart (and solvent) owners invest substantial amounts into the upkeep and cosmetic quality of these homes.

A client who owns several Architectural homes throughout the city has an actual staff of people whose only job is to keep the properties in pristine condition. And, it has served him well over the years, whenever he sold one for a tidy profit.

I came across this beauty in the picture 2 days ago on brokers’ caravan. It’s a spectacular home in Bel Air, priced at $17m with awesome views of the Stone Canyon reservoir, the city lights and the mountains!

With over 11k sqft of living space, it affords a very luxurious lifestyle.

However, when looking closely, one noticed the balcony tiles losing their surface layer flaking off. Many of the vertical smooth concrete stucco showed traces of rainwater running down. The beautiful hardwood floors were blemished in many places. I wouldn’t say the house looked dated but rather worn down.

And here is the kicker. It was built new and sold in 2020, 2 years ago!

It’s a pity to see such a beauty losing its sheen so quickly. It’ll take several hundred thousand Dollars to bring it back up to snuff.

Buying especially an architectural home takes solid preparation and an eye for detail.

But the investment is worth it as these properties usually fetch the best prices because many buyers covet them over traditional homes!

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