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 656 Rosecrans Avenue BD/BA 3br/2ba SQFT 1432 sqft LOT 3659 PRICE $1,650,000 $PSF $1,152 DOM 75 DOM SOLD SOLD 10/21/22 START $ $1,849,000 START 10/21/22
Address 2412 N Ardmore Avenue BD/BA 2br/1ba SQFT 928 sqft LOT 4716 PRICE $1,748,225 $PSF $1,884 DOM 9 DOM SOLD SOLD 09/09/22 START $ $1,849,000 START 09/09/22
Address 600 26th Street BD/BA 3br/2ba SQFT 1400 sqft LOT 4481 PRICE $2,750,000 $PSF $1,964 DOM 5 DOM SOLD SOLD 08/15/22 START $ $2,750,000 START 08/15/22
Address 716 Rosecrans Avenue BD/BA 3br/2ba SQFT 1500 sqft LOT 5162 PRICE $2,350,000 $PSF $1,567 DOM 10 DOM SOLD SOLD 08/09/22 START $ $2,395,000 START 08/09/22
Address 3521 Elm Avenue BD/BA 3br/2ba SQFT 1225 sqft LOT 4640 PRICE $2,300,000 $PSF $1,878 DOM 2 DOM SOLD SOLD 06/29/22 START $ $2,275,000 START 06/29/22
Address 1900 Laurel Avenue BD/BA 2br/2ba SQFT 1315 sqft LOT 6134 PRICE $3,350,000 $PSF $2,548 DOM 16 DOM SOLD SOLD 06/22/22 START $ $3,600,000 START 06/22/22
Address 2205 Elm Avenue BD/BA 2br/2ba SQFT 1077 sqft LOT 4484 PRICE $2,210,000 $PSF $2,052 DOM 7 DOM SOLD SOLD 05/13/22 START $ $1,999,999 START 05/13/22
Address 3212 N Poinsettia Avenue BD/BA 3br/2ba SQFT 1225 sqft LOT 4636 PRICE $2,850,000 $PSF $2,327 DOM 7 DOM SOLD SOLD 04/15/22 START $ $2,599,000 START 04/15/22
Address 3217 N Valley Drive BD/BA 3br/2ba SQFT 1026 sqft LOT 2498 PRICE $1,550,000 $PSF $1,511 DOM 8 DOM SOLD SOLD 03/04/22 START $ $1,599,000 START 03/04/22
Address 1500 Walnut Avenue BD/BA 3br/2ba SQFT 1212 sqft LOT 4204 PRICE $2,600,000 $PSF $2,145 DOM 7 DOM SOLD SOLD 02/28/22 START $ $2,399,000 START 02/28/22
Address 1716 Pine Avenue BD/BA 2br/1ba SQFT 803 sqft LOT 4487 PRICE $2,100,000 $PSF $2,615 DOM 5 DOM SOLD SOLD 01/26/22 START $ $1,799,000 START 01/26/22
Address 861 12th Court BD/BA 3br/2ba SQFT 1383 sqft LOT 5015 PRICE $2,940,000 $PSF $2,126 DOM 12 DOM SOLD SOLD 01/12/22 START $ $2,899,000 START 01/12/22
Address 1140 Fisher Avenue BD/BA 3br/2ba SQFT 1304 sqft LOT 3324 PRICE $2,500,000 $PSF $1,917 DOM 59 DOM SOLD SOLD 01/07/22 START $ $1,999,988 START 01/07/22
Address 2527 N Valley Drive BD/BA 3br/2ba SQFT 1172 sqft LOT 3821 PRICE $2,001,000 $PSF $1,707 DOM 0 DOM SOLD SOLD 12/23/21 START $ $1,899,900 START 12/23/21
Address 1825 Pacific Avenue BD/BA 3br/2ba SQFT 1200 sqft LOT 4778 PRICE $1,750,000 $PSF $1,458 DOM 14 DOM SOLD SOLD 12/17/21 START $ $2,350,000 START 12/17/21
Address 3211 N Valley Drive BD/BA 3br/2ba SQFT 1461 sqft LOT 2446 PRICE $2,010,000 $PSF $1,376 DOM 9 DOM SOLD SOLD 11/30/21 START $ $1,950,000 START 11/30/21

 

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