|
337 16th
|
|
They were the best of times, they were the worst of times. And then the calendar flipped to 2012.
This year, we saw a deal post at one of the homes with the greatest market exposure in Manhattan Beach over the past 5 years. That's 337 16th (4br/5ba, 4550 sq. ft.), which has…
|
337 16th |
|
They were the best of times, they were the worst of times. And then the calendar flipped to 2012.
This year, we saw a deal post at one of the homes with the greatest market exposure in Manhattan Beach over the past 5 years. That's 337 16th (4br/5ba, 4550 sq. ft.), which has exceeded 1,000 DOM since 2007. That's some kind of record for persistence.
We summarized the listing history in our last reference to the property:
- 5 months in 2007 (mostly at $4m);
- 6 months in 2008 (mostly at $3.8m);
- 2 months in 2010 (at $3m); and
- all of 2011 and 2012 (at $3m, down to $2.699m).
The listing first went into "backup offer" status in mid-February, so call that 6 weeks of 2012.
Now the deal has closed at the most recent asking price: $2.699m. (Side note: The agent who has represented the sellers since October 2010 also seems to have lucked out and represented the buyers here, too. That may at least help cover 14 months' worth of promotional expenses.)
So, we've said it recently, and it's worth repeating: This is the year to sell a home that has previously failed to sell. Almost every offering seems to occupy its market segment alone. (Not exactly, of course.) As 337 16th shows, you can even end 5 years on the market on a happy note.
We've always called this "a plenty appealing home, very big, with a proper walkstreet layout downstairs," plus ocean views and 4-car parking. We also like the neighborhood – a little pocket right near downtown and the park, with almost untrafficked walkstreets east of Highland. Could the home use some modernizing? Sure, and once the price came down that became feasible for the next owner.
How did this one fare over time? There are 2 prior trades: $1.1m in 1997 (new) and $1.780m in 2001. The home was surely upgraded from pretty its blank condition from 2001. But this new sale 11 years later comes at a nice 52% markup over that time.
Please see our blog disclaimer.
Listings presented above are supplied via the MLS and are brokered by a variety of agents and firms, not Dave Fratello or Edge Real Estate Agency, unless so stated with the listing. Images and links to properties above lead to a full MLS display of information, including home details, lot size, all photos, and listing broker and agent information and contact information.
Based on information from California Regional Multiple Listing Service, Inc. as of March 19th, 2024 at 12:20am PDT. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.