Beauty & Location Sell

By Dave Fratello | January 18th, 2018

3001 N Poinsettia Avenue Manhattan Beach CAIt was impossible not to appreciate 3001 Poinsettia when it came to market in early December.

It's a 2002-built Cape Cod (5br/4ba, 3360 sqft.) that recently got a complete, modern update with designer everything from head to toe.

It was no flipper job, nor a case of "let's paint and put in some new carpet so we can sell." The update was total, inspired, loving and long-planned.

Even the (smallish) backyard was fully built out for outdoor entertaining.

Alas, plans changed. The owners completed their work and then stumbled across something else they loved. And off they went.

3001 N Poinsettia Avenue Manhattan Beach CABut this was all to the benefit of the buyers for the house. Because for $3M+, you would hope to see a home with kitchen, baths, etc., more in keeping with current styles, rather than those of 15 years ago.

Cape Cod is a classic style, but some tastes have changed. And while buyers will say "we're willing to do some work," the truth is, most people just want to settle in after buying a house.

The sheer beauty of the home has helped get 3001 Poinsettia into escrow, in a deal posted this week.

That's pretty quick work, considering the oddity of a December listing, days on market piling up during the holidays and the fact that here we are, not fully 3 weeks into January.

3001 N Poinsettia Avenue Manhattan Beach CAThere was at least one other factor working in favor of the listing: Location.

Good heavens, it was more than 10 years ago here at MB Confidential where we first called this home's block, "The Street Where Listings Don't Last."

You could say that Tree Section locations east of Pacific & north of Valley generally are less prime than most other Tree Section neighborhoods.

But in the case of the little block of Poinsettia from Valley to 31st, there's an almost accidental prettiness to the street. The street is a bit narrow, and a canopy forms over the road when all the trees are leafy. It's an intimate feeling, one that generates warm reactions all the time. We fully agree with the listing's description of "this highly sought after 'storybook' street."

So, location, location...

3009 N Poinsettia Avenue Manhattan Beach CAAlmost 2 years ago, in April 2016, a newer nearby neighbor at 3009 Poinsettia (4br/4ba, 3600 sqft.) sold within 2 weeks for $3.700M, a truly big number presumably reflecting the glamour of that home, a little extra square footage and... this special location.

They began 3001 Poinsettia near that price at $3.500M, and later cut to $3.400M, where it stood when the home went into escrow.

That's a new-construction-level price, and a prime-location price, but when you look at the whole package, you can simply ask: What's missing? Not much, really.

If you've got to sell in December/January, it's great to start out with prime product in a location people love. That should work just about every time.

 

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