Close the Books on 1407 23rd

Posted by Dave Fratello on Thursday, January 24th, 2013 at 4:44am.

When we try to imagine what 2013 might be like in Manhattan Beach real estate, naturally we look back at how 2012 wound up.

At least one of the listings that hit late in the year – December 2012 – delivered a couple of surprises to the high side.

Are these hints of what 2013 may hold?

1407 23rd
1407 23rd (4br/2ba, 2000 sq. ft.) is the property in question.

It's hard to disagree with our initial opinion, that it "really doesn't look like much outside." It's a 1940s cottage that's been expanded and updated. (See "Weekend Opens [12/1-12/1].")

Inside, the remodeled home delivered a lot.

There's a big, open series of living spaces. A sharp, modern, open kitchen. Pretty good merging of the indoor with outdoor living spaces, which are ample on this 7000 sq. ft. plot.

One of our favorite advantages: side yards wide and ample enough – and sunny enough – for vegetable gardens right outside the kitchen. Yum. Beyond that, there's plenty of outdoor living and even play space.

Wide side yard means great outdoor living
So this was a quality property, with more plus-factors than expected. Check.

Still, in our open-house review, we called the start price of $1.359M "somewhat ambitious."

And that was because a home that's effectively 3br, just off Marine, not clearly with a high walkscore, just barely seemed to scratch at 1.3M – on paper.

But here's what you get for predicting...

The public open houses positively crawled with interested parties. In December.

And the property got bid up over that, achem, "somewhat ambitious" start price.

Closed price, as of Wednesday: $1.385M.

That's "only" $26K and 2% over asking, so it doesn't look like a crazy bidding war, but it feels like something more if you saw the start as a bit of a reach.

Surprising sale price? Check.

Does this mean that, in 2013, the world officially goes crazy?

All we're sure about, for now, is that great properties in high-demand market segments are exceeding expectations.

You could tell that story easily with some kind of ocean-view house west of the highway, but look at the map. It's all of MB.
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