There are currently 57 blog entries related to this category.
Friday, November 15th, 2013 at 7:02am. 240 Views, 0 Comments.
It had launched at $11.0M, run nearly 6 months and just wasn't having people grooving on its ultramodern, 2br vibe. MBC described it as "the definition of a custom, modern home – exactly what someone wanted, but with questionable appeal beyond the party that ordered it built."
But surely, some sports star or celeb could love this beachfront vanity palace.
Alas, it appears no.
The sale price has posted at $8.700M, a discount to the last list of a cool $1.0M.
But do they mean to use the house?
According to rumors and this blog post, no. The buyers are said to plan a complete reboot. Down to the ground with the 2br, 2-story modern. Make way for…
Tuesday, November 5th, 2013 at 12:33pm. 312 Views, 0 Comments.
It's been about 7 weeks since we took a look at a few (then) new listings offering back-to-back half lots and the promise of, perhaps, combining those for full-lot redevelopment.
We said the existing homes "aren't ghastly, but they're dated," with the 24th St. house at just 1100 sq. ft., and the alley home on 23rd place weighing in at a whopping 500 square feet inside. (Our apologies for the botched "weighing in" metaphor. Where's the coffee?)
Each listing pointed to the other, beckoning buyers to grab the whole lot. But at list price, that would be $1.928M before the planning stage. And the frontage of the lot on busy 24th St.,…
Friday, October 11th, 2013 at 10:54am. 209 Views, 0 Comments.
You could almost call 524 15th the last bidding war of the last cycle.
It sold way-back-then, 6 years ago, and it has just sold again. Now the site is getting a major reboot. (A rebuild.)
The 2007 public-market price and the 2013 off-market price turned out to be essentially equal. But whereas builders didn't want it way-back-when, they sure did this time.
Let's first look back at the prior sale.
Back in 2007, while MBC was watching day by day and reporting on what looked like a softening market (yes it was), we were savvy to something happening then that did not look like a sign of decline. They were about to have multiple offers for 524 15th.
In our post then, we noted that the start price of $2.200M on the 2200 sq. ft. 1960s home, which we called…
Wednesday, September 11th, 2013 at 9:26am. 355 Views, 0 Comments.
It's funny sometimes to see what kind of real estate is offered in Fall.
Right now in two different parts of the Sand Section, there are separate, adjoining half lots being marketed, at least in part, as full-lot sales. Buy both, combine them and just like that, you've got a full lot for new development.
The most prime of these is at 128 8th. St.
Oh yes, a 100 block near downtown.
Legally, this is 128 8th Street and 129 7th Place, two separate lots with separate parcel numbers, offered for sale together.
As you see from our little collage, the front/main home may not be much, but the views are nice in both directions. The site just needs a better platform from which to drink those in.
The $4.150M start price is certainly rich if you're viewing this…
Wednesday, May 22nd, 2013 at 4:38pm. 639 Views, 0 Comments.
The recent sale of 1804 Agnes serves as a reminder that finding a lot for a custom build is getting costlier by the day.
You can definitely say this flat lot at Agnes on a sleepy street boasts a prime location.
However, the 4780 sq. ft. lot size is average, and the backyard exposure will be to the east – less sunny in the afternoon – so we're not looking at pluses on every front.
So the sale price, after multiple bids, at $1.700M, is a wake-up call.
Wasn't it just last year that 1805 John shocked onlookers (and the 19 losing bidders) with a sale at $1.352M?
But that lot was a tad bigger (5065 sq. ft.) and with western exposure on the back. About the only major liability of the lot was (is) the giant eucalyptus in the front yard, which apparently the…
Tuesday, April 30th, 2013 at 7:24am. 422 Views, 0 Comments.
We've recently seen 2 homes that are severely dated, nearly un-fixable, with the upside mostly on development, not a remodel.
Not that we dare to rule out remodels every time – smart and creative people do wonders.
But 418 Chabela in East MB (pictured) and 1026 Pacific in the Hill Section share something in common: They're old, cluttered wrecks that invite require buyers to see past everything around them and imagine something different.
Chabela is the most curious case, perhaps. First, we have to say where it is. This is in the "Poets Section" of East MB, just east of Sepulveda and pretty far south for MB. (Hermosa is on the other side of Sepulveda.)
Nearly this whole area was originally developed in the 1950s/60s as flat, one-story ranchers, and…
Wednesday, March 20th, 2013 at 2:46pm. 850 Views, 0 Comments.
It was a little bit of a surprise, 18 months ago or so ago, to see 112 The Strand get knocked down.
It had been a completely livable, large 1988-built home, and it went for a price you'd think should maybe come with a house: $7.334M (May 2010).
But that turned out to be how someone valued the dirt alone.
They knew what they wanted: A South End lot on The Strand to build on. They took what was available and paid what they needed to pay. And then they got under way. The project has gone on a while, with a vast, deep basement carved out before the current 3-story structure sprouted. It'll be huge.
That $7M+ sale marked out a new high end for South End Strand lot values, but the question was: Would that sort of number be hit again at a time when Strand…
Tuesday, February 19th, 2013 at 9:03am. 589 Views, 0 Comments.
Is it a coincidence, or a trend?
Among the most recent deals (new escrows) in MB are several properties with issues of some sort – and an appeal that you can identify, somewhere in the rough.
It goes to show you don't need to have a pristine property, ideally located, and normal circumstances just to make a sale.
416 21st Place (3br/4ba, 1950 sq. ft.) is a rear-unit TH built in the early 90s with some real views.
You wouldn't expect a rush to the door for a rear unit, nor for one with the unusual style and materials here – black marble, anyone? Glossy black kitchen?
But views and price seem to have helped a lot.
Up on the top level, there's a substantial patio/balcony with real views to the north and west, and there are more to the south and west…
Friday, October 5th, 2012 at 3:43am. 456 Views, 0 Comments.
One way to tell (part of) the tale is just to look at some of the most recent closed sales:
424 2nd (3br/4ba, 2550 sq. ft.) is nothing snazzy or special or perfect from any angle, just like all the other recent $1.7m-ish sales in the South End of the Sand Section.
$1.7m seems like the "new normal" for something smallish and flawed, totally livable and kinda lovable, but really needing something more... in the hallowed South End.
The poor photos don't do the home much justice. It's a good layout. Huge garage. Comfy place. But it could use a lot. We hope it does not wind up a lot sale. (We've heard conflicting things about the plans for the property.)
- 552 3rd (3br/3ba, 1850 sq. ft., $1.699m),
Thursday, August 23rd, 2012 at 2:19pm. 424 Views, 0 Comments.
Demand still outpaces supply, though. Some of the new stuff gets grabbed right away, but what's really interesting is how the old, old, creaky listings with the high DOM counts are selling now, too.
If you follow our new-ish MB Property Ticker, you've seen some recent deals post at 3207 Crest (a TH with 200 DOM) and 1027 Boundary Place (a quirky Hill Section SFR over 5 months on market).
There are also recent deals at listings with the longest market exposure in all of Manhattan Beach:
|Patch of scrubland at 117 Meadows|
What does that mean? It means…