Quite a bit depends upon, sq footage, amenities,upgrades, location etc etc. We need more information then what has been provided in order to give you a good answer. I would recommend you interview a few agents who work in the area to assist you in pricing your property and selling it !
Using Eric's formula will not really work for you. A blind estimate based on a single property from another neighborhood and location will not help at all. What you need is a detailed market analysis using all the pertinent data. I'd be happy to speak with you and arrange a comprehensive and complete valuation of the property in question.
FYI, there have been 19 properties such as yours (1+1 in 90034) on the market in 2009.
There are currently 4 on the market with a median price of $317,000.
There are two pending with a median price of $222,000.
There are 6 sold with a median price of $279,500.
There are 7 expired or withdrawn with a median price of $350,000.
The lowest price is $149,500, and the highest price is $399,000. As you can see, all of what I said above comes into play in affecting the large price variation in units.
Licensed REALTOR for 33 years
Certified Short Sale Professional
Coldwell Banker Brentwood West
11999 San Vicente Blvd. Suite 100
Los Angeles, CA 90049
(F) 310.820.1457 http://www.TheBremnerGroup.com
Blogging at: http://TheBremnerGroup.com/blog
Prudential California Realty
Let me know if you would like to meet and show me the property to get a more accurate assessment. I put the above condo in escrow in under 2 weeks also fyi for very close to full asking price. I look forward to hopefully meeting you and working with you on this.
Fax# 323.466.1788 http://www.smilayproperties.com