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Another Impressive Sale on Oak

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by Dave Fratello

1720 Oak Avenue, Manhattan Beach,

Say what you will about Oak Avenue in the Tree Section. The fact is, it's seeing sales.

The latest, 1720 Oak (4br/4ba, 3471 sqft.) has just sold $151K over asking at $4.150M

That's 15% above its April 2022 acquisition price ($3.600M). 

It helps that the home was dialed before the 2022 purchase, and improved thereafter by the folks who were selling it this year (mainly with new flooring). 

Otherwise, what might have been the odds that a late-80s house on the side of Oak backing up to commercial would generate multiple offers and an over-asking sale?

Seems like every major remodel is rewarded. 

This sale follows on the heels of a couple others nearby. 

1721 Oak Avenue, Manhattan Beach, Like, across the street...

1721 Oak (4br/4ba, 3126 sqft.) is new construction that sold for $4.950M in October last year.  

We said then that the sale "may be the most impressive ever in the area," as its PPSF approached $1,600/PSF. 

That was the case, even though "only a handful of other Oak sales of 3000+ sqft. homes [had] netted more than $1,000/PSF."

Now, 1720 Oak comes in at $1,196/PSF – can we call it $1,200? 

2001 Oak Avenue, Manhattan Beach, That's within sight of the $1,283/PSF on a sale of a newer home at 2001 Oak (5br/5ba, 3156 sqft.) on the west side of Oak, also in October last year ($4.050M).

The resale of 1720 Oak appears to restore the home's 3rd-place rank among all sales on Oak, pushing 2001 Oak to 4th, while still lower than 1721 Oak (noted above) and 1801 Oak (6br/5ba, 5370 sqft.), last sold for $5.425M June '24 and currently offered at $5.999M (listed by Jennifer Caskey, Compass).

Location must be a factor. Any of these homes we've mentioned may have fetched more if they were just a block or two to the west. 

But the "Oak discount" may not be as drastic as what buyers might expect. Clean, remodeled family-sized homes west of Sepulveda in Manhattan Beach are worth a great deal regardless.


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