MB Market Update for 2/15/10, SandPosted on Friday, February 19th, 2010 at 4:33am.
Of the 21 new SFR listings in this 2-week period west of Sepulveda, 10 were by the beach. (See the page of Sand Section actives <$2m, or the Sand actives >$2m; use the links on our online spreadsheets to view properties directly.) The new listings included...
3 on The Strand:
- 112 The Strand (3br/4ba, 4400 sq. ft.), a late-80s home that holds up nicely enough today. (Pictured.) Light, bright, south and Strand – a worthy combo, starting at $7.795m.
- 908 The Strand (4br/5ba, 2775 sq. ft.), an older home with a bonus unit out back, offered at the come-hither price of $5.595m, below the lot values for 2 other Strand lots further south that sold last year. The strategy worked – 908 The Strand is in escrow.
- 1600 The Strand (3br/5ba, 5225 sq. ft.) is a jarringly modern, 1980s-vintage landmark. Bonus feature: A rooftop pool. Start price: $13.5m. For more on the home and perspective on the price, see "More Strand Options."
There were also 2 new listings on 9th St., both mentioned in our most recent "Weekend Opens" feature:
- 325 9th (pictured) is a newer (2003), full-featured Cape Cod with 5br/5ba, 3700 sq. ft. Some great details, lots of little private spaces, and a nice flat walkstreet location very close to downtown. Starts at $3.695m.
- 432 9th (4br/3ba, 2650 sq. ft.) is a recent remodel that starts at $2.699m. More more, including recent comps, see the "Weekend Opens" post.
And finally there were 2 we saw last year, trying again:
- 420 1st (2br/2ba, 800 sq. ft.) is a little cottage – well, 2 little cottages with a small yard between. The property backs up to a school and abuts a parking lot.
The current owners took it for $1.075m in June 2007, tried last year at $1.275m and start anew this year at $1.190m.
Yes, that's still a markup over 2007. (For more, see "A Wave of Wipeouts on 1st," from last September.)
- 215 S. Valley (4br/3ba, 2550 sq. ft.), a dated home with a significant location challenge, is back, after a hiatus, at $1.235m – a price MBC thought reasonable a year ago. (For more see "215 Valley's Back.")
- 332 20th (5br/5ba, 4300 sq. ft.), an inspired Spanish with big ocean views well-featured by the home's design.
The home was new in early 2008 and began at $4.795m, and was also one of 2 properties mentioned in an MBC poll (see "$1m to Cross the Street?") that compared it to a new-construction listing down on 19th closer to the water.
The comparison property west of Highland sold for $5.6m, quickly, way-back-when.
This year, 332 20th was last at $3.695m, after a couple of rentals in between. Clearly, the question in 2008 should have been, "$2m to Cross the Street?"
- 228 20th (5br/5ba, 4150 sq. ft.) is a late-90s contemporary that has been offered for more than 400 days. After a start at $3.899m, it was down to $2.999m before making a deal.
comments powered by Disqus