3309 Pacific Is Lucky in 6th Year

Posted by Dave Fratello on Friday, July 30th, 2010 at 5:08pm.

One of the most curious, difficult, long-term listings in Manhattan Beach has a deal. 

3309 Pacific (4br/5ba, 3500 sq. ft.) has been for sale at one time or another in every year since 2005. (See "Going for 6.")

Listings at Pacific have been short, they've been long, but here, it ran less than 6 weeks before finding a buyer.

That's not unlike the situation at 234 Larsson in MBC's most recent post – hundreds of days on market once upon a time, now finding a deal in a little over a month.

To recount, the first listing at 3309 Pacific began at $1.799m in Summer 2005 near the peak of the local bubble, found a buyer (for a while) in Summer 2006 when priced at $1.599m – the deal failed – and was most recently up at $1.249m.

The principal attraction at Pacific is space for the dollar – about $350/PSF, far below the common $600-$800 range you'll see on other listings and sales. (See the 7/15/10 update's Tree Section solds page here.) Only big 590 36th has sold for less than $400/PSF in the Trees this year.

We've called Pacific "a bit off-kilter." The 1950 original was updated in the 70s or 80s and added onto pre-ZORP. There's some decent outdoor space out back, terraced and paved, but space nonetheless. (There's more in MBC's February 2009 review of the home and its for-sale history, "A Long, Strange Listing.")

While the rest of the marketplace moves slowly, we see 2 less-than-stellar listings moving. Bravo to Pacific. Let's see if they can hold onto this fish this time.
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