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 1604 Walnut Avenue BD/BA 3br/2ba SQFT 1316 sqft LOT 4202 PRICE $1,803,000 $PSF $1,370 DOM 4 DOM SOLD SOLD 08/07/18 START $ $1,600,000 START 08/07/18
Address 3412 Palm Avenue BD/BA 2br/1ba SQFT 1163 sqft LOT 6154 PRICE $1,720,000 $PSF $1,479 DOM 103 DOM SOLD SOLD 08/02/18 START $ $2,049,000 START 08/02/18
Address 3513 Pine Avenue BD/BA 3br/2ba SQFT 1165 sqft LOT 9276 PRICE $2,825,000 $PSF $2,425 DOM 61 DOM SOLD SOLD 07/18/18 START $ $3,300,000 START 07/18/18
Address 750 29th Street BD/BA 2br/2ba SQFT 1078 sqft LOT 4803 PRICE $2,050,000 $PSF $1,902 DOM 6 DOM SOLD SOLD 07/18/18 START $ $2,050,000 START 07/18/18
Address 1817 John Street BD/BA 2br/1ba SQFT 1200 sqft LOT 5060 PRICE $2,525,000 $PSF $2,104 DOM 15 DOM SOLD SOLD 06/25/18 START $ $2,350,000 START 06/25/18
Address 861 12th Court BD/BA 3br/2ba SQFT 1187 sqft LOT 5015 PRICE $2,100,000 $PSF $1,769 DOM 8 DOM SOLD SOLD 06/19/18 START $ $1,999,000 START 06/19/18
Address 3605 Laurel Avenue BD/BA 3br/2ba SQFT 1152 sqft LOT 4862 PRICE $1,800,000 $PSF $1,563 DOM 0 DOM SOLD SOLD 04/25/18 START $ $1,759,000 START 04/25/18
Address 3529 Pacific Avenue BD/BA 2br/1ba SQFT 950 sqft LOT 4480 PRICE $1,499,000 $PSF $1,578 DOM 12 DOM SOLD SOLD 04/25/18 START $ $1,499,000 START 04/25/18
Address 615 23rd Street BD/BA 2br/1ba SQFT 948 sqft LOT 4404 PRICE $1,881,150 $PSF $1,984 DOM 40 DOM SOLD SOLD 03/07/18 START $ $2,199,000 START 03/07/18
Address 2615 Pacific Avenue BD/BA 3br/2ba SQFT 1457 sqft LOT 4486 PRICE $1,508,000 $PSF $1,035 DOM 19 DOM SOLD SOLD 03/02/18 START $ $1,850,000 START 03/02/18
Address 664 27th Street BD/BA 2br/1ba SQFT 884 sqft LOT 5123 PRICE $2,250,000 $PSF $2,545 DOM 27 DOM SOLD SOLD 02/14/18 START $ $2,100,000 START 02/14/18
Address 2722 N Ardmore Avenue BD/BA 3br/2ba SQFT 1495 sqft LOT 5010 PRICE $1,850,000 $PSF $1,237 DOM 0 DOM SOLD SOLD 12/15/17 START $ $1,850,000 START 12/15/17
Address 2416 Pine Avenue BD/BA 2br/1ba SQFT 1029 sqft LOT 5057 PRICE $1,545,000 $PSF $1,501 DOM 19 DOM SOLD SOLD 11/09/17 START $ $1,549,000 START 11/09/17
Address 700 Rosecrans Avenue BD/BA 3br/2ba SQFT 1278 sqft LOT 4340 PRICE $1,250,000 $PSF $978 DOM 6 DOM SOLD SOLD 11/08/17 START $ $1,249,000 START 11/08/17
Address 3619 N Poinsettia Avenue BD/BA 3br/3ba SQFT 1329 sqft LOT 5297 PRICE $1,550,000 $PSF $1,166 DOM 12 DOM SOLD SOLD 09/26/17 START $ $1,495,000 START 09/26/17
Address 856 14th Street BD/BA 3br/2ba SQFT 1454 sqft LOT 5014 PRICE $1,600,000 $PSF $1,100 DOM 6 DOM SOLD SOLD 09/14/17 START $ $1,645,000 START 09/14/17
Address 2312 Elm Avenue BD/BA 3br/2ba SQFT 1472 sqft LOT 4480 PRICE $1,760,000 $PSF $1,196 DOM 1 DOM SOLD SOLD 09/01/17 START $ $1,760,000 START 09/01/17
Address 3116 Oak Avenue BD/BA 2br/1ba SQFT 1286 sqft LOT 4480 PRICE $1,463,300 $PSF $1,138 DOM 37 DOM SOLD SOLD 08/25/17 START $ $1,495,000 START 08/25/17
Address 645 Marine Avenue BD/BA 3br/1ba SQFT 1061 sqft LOT 4411 PRICE $1,935,000 $PSF $1,824 DOM 9 DOM SOLD SOLD 07/17/17 START $ $1,850,000 START 07/17/17
Address 1829 Oak Avenue BD/BA 3br/2ba SQFT 1400 sqft LOT 4680 PRICE $1,725,000 $PSF $1,232 DOM 37 DOM SOLD SOLD 07/10/17 START $ $1,849,000 START 07/10/17
Address 742 29th Street BD/BA 3br/2ba SQFT 1198 sqft LOT 4802 PRICE $2,118,000 $PSF $1,768 DOM 6 DOM SOLD SOLD 07/06/17 START $ $1,899,000 START 07/06/17
Address 3211 N Valley Drive BD/BA 3br/2ba SQFT 1461 sqft LOT 2500 PRICE $1,650,000 $PSF $1,129 DOM 3 DOM SOLD SOLD 06/27/17 START $ $1,599,000 START 06/27/17
Address 1501 Elm Avenue BD/BA 2br/1ba SQFT 1006 sqft LOT 4201 PRICE $1,505,000 $PSF $1,496 DOM 33 DOM SOLD SOLD 06/22/17 START $ $1,550,000 START 06/22/17
Address 2615 Palm Avenue BD/BA 2br/1ba SQFT 890 sqft LOT 4643 PRICE $1,750,000 $PSF $1,966 DOM 22 DOM SOLD SOLD 06/19/17 START $ $1,425,000 START 06/19/17

 

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