A Nice Little Tree Section Cottage Costs...

By Dave Fratello | April 27th, 2018

Let's say you're just looking for a little home, a "starter" as they sometimes call it, but you'd like to be in the Tree Section.

Check out where the market's at now.

861 12th Court Manhattan Beach CA861 12th Court (3br/2ba, 1200 sqft.) is just about the most completely modernized little cottage we've seen in a while, totally dialed in.

It's just a tad under 1200 sqft. inside.

The list price of $1.999M may have raised eyebrows, but more importantly, buyers raised their hands.

It's in escrow now. And it won't look as jarring when you see that the current owners paid $1.810M for a refreshed, but nowhere near as completely remodeled/modernized home about 30 months ago in Sept. 2015. (Click on this sold listing and compare/contrast the photos between them.)

When first listed, 861 12th Ct. was showing as $1,684/PSF.

Also this week, we saw two closed sales much further north in the Tree Section.

3605 Laurel Avenue Manhattan Beach CAOne was 3605 Laurel (3br/2ba, 1150 sqft.), which sold pre-market and has posted a sale price at $1.800M.

That's $1,563/PSF for a fairly recently remodeled cottage bearing a 1956 build date.

You can look back at the 2012 sale listing here and see the home in comparable condition. The price 6 years ago? $1.059M.

The rise in value over that time? Gulp. 70%.

Also at around the same time, a much smaller, original cottage at 3529 Pacific (2br/1ba, 950 sqft.) has just closed for $1.499M.

That's the last block before Rosecrans. Call it $1.5M for something like land value.

This phenomenon for pricing in the Trees really isn't new. The sales this week mainly confirm the trend.

We recently pointed to the sale of a slightly bigger fixer cottage at 721 35th ($1.925M) as a sort of reality check for potential buyers, and relevant info for sellers. (See "Up, Up, Up on 35th.")

For your edification and entertainment, here below is a complete list of all homes sold in the Tree Section with less than 1500 sqft. of interior space going back a year. Newest sales appear first. (Email subscribers will need to view this post in a browser to see all the listings.)

Tree Section Sales <1500 sqft.

ADDRESS BD/BA SQFT LOT PRICE $PSF DOM START $ START
Address 575 27th Street BD/BA 3br/2ba SQFT 1371 sqft LOT 4803 PRICE $2,000,000 $PSF $1,459 DOM 3 DOM SOLD SOLD 10/16/20 START $ $1,749,999 START 10/16/20
Address 3501 Elm Avenue BD/BA 3br/2ba SQFT 1264 sqft LOT 4212 PRICE $1,650,000 $PSF $1,305 DOM 0 DOM SOLD SOLD 09/03/20 START $ $1,650,000 START 09/03/20
Address 2833 N Valley Drive BD/BA 2br/2ba SQFT 1135 sqft LOT 5003 PRICE $1,615,000 $PSF $1,423 DOM 11 DOM SOLD SOLD 08/28/20 START $ $1,699,000 START 08/28/20
Address 1012 Rosecrans Avenue BD/BA 3br/1ba SQFT 1319 sqft LOT 4879 PRICE $1,485,000 $PSF $1,126 DOM 71 DOM SOLD SOLD 08/11/20 START $ $1,499,999 START 08/11/20
Address 3212 N Poinsettia Avenue BD/BA 3br/2ba SQFT 1225 sqft LOT 4636 PRICE $1,650,000 $PSF $1,347 DOM 10 DOM SOLD SOLD 07/10/20 START $ $1,650,000 START 07/10/20
Address 3617 Elm Avenue BD/BA 3br/2ba SQFT 1200 sqft LOT 5097 PRICE $1,650,000 $PSF $1,375 DOM 10 DOM SOLD SOLD 06/23/20 START $ $1,699,000 START 06/23/20
Address 1829 N Poinsettia Avenue BD/BA 3br/2ba SQFT 1435 sqft LOT 4368 PRICE $1,920,000 $PSF $1,338 DOM 9 DOM SOLD SOLD 06/23/20 START $ $1,999,000 START 06/23/20
Address 759 Marine Avenue BD/BA 4br/2ba SQFT 1440 sqft LOT 5115 PRICE $1,700,000 $PSF $1,181 DOM 2 DOM SOLD SOLD 06/15/20 START $ $1,699,000 START 06/15/20
Address 908 Rosecrans Avenue BD/BA 2br/1ba SQFT 832 sqft LOT 5964 PRICE $1,250,000 $PSF $1,502 DOM 127 DOM SOLD SOLD 03/13/20 START $ $1,499,000 START 03/13/20
Address 861 12th Court BD/BA 3br/2ba SQFT 1187 sqft LOT 5015 PRICE $2,300,000 $PSF $1,938 DOM 7 DOM SOLD SOLD 02/26/20 START $ $2,150,000 START 02/26/20
Address 3408 Maple Avenue BD/BA 2br/1ba SQFT 1029 sqft LOT 4640 PRICE $1,530,000 $PSF $1,487 DOM 37 DOM SOLD SOLD 02/14/20 START $ $1,750,000 START 02/14/20
Address 1012 Rosecrans Avenue BD/BA 3br/1ba SQFT 1319 sqft LOT 4879 PRICE $1,154,500 $PSF $875 DOM 96 DOM SOLD SOLD 01/09/20 START $ $1,350,000 START 01/09/20
Address 1905 Palm Avenue BD/BA 3br/2ba SQFT 1252 sqft LOT 5062 PRICE $2,345,000 $PSF $1,873 DOM 23 DOM SOLD SOLD 12/03/19 START $ $2,350,000 START 12/03/19
Address 613 19th Street BD/BA 3br/2ba SQFT 1244 sqft LOT 3739 PRICE $1,850,000 $PSF $1,487 DOM 56 DOM SOLD SOLD 11/18/19 START $ $1,995,000 START 11/18/19

 

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