This Single Family 1912 home sold in 2019 for $1,688,000. In this video, I share some before and after pictures. I also approximate what the costs associated with the purchase, demo, carry costs and construction costs are. These are approximations - the interest rate on the loan can vary, the construction costs vary, this building now has an elevator, for example, so the new owners most probably did not view this as a flip to maximize potential lease income, but more as a luxury, high end, duplex. A bit of Ocean Park neighborhood history is gone, but it does seem cost prohibitive to do this sort of construction in Ocean Park, unless money is not the only concern, so I don't see this as a trend in the area.
For more specifics, take a look at this video and let me know what you think!: