Cheapest Tree Section Buys of 2015

By Dave Fratello | December 11th, 2015

Getting into the Tree Section for under $1.5M or so has been tough all year.

We noted that two offerings on Oak found buyers on Thursday.

3513 Oak (3br/3ba, 1775 sqft.) offers a lot of house, relatively speaking, in a reasonably spacious 2-story floorplan with a bigger-than-expected grassy backyard.

Oh, it's got odd qualities, too, as do many homes around MB where piecemeal or not-so-fully planned additions were made to existing 1950s-era homes. This listing claims a 1997 build date, but there's no chance it was new as of then. The first floor features a smallish true bedroom, a "pass-through" office or craft room and a big back room that counts as a bedroom, but also feels like a living room given its size, shape and the fact that it opens to the yard. A master is popped up on top. The kitchen wants a modernization, but overall, the home presents adequately and could be seen as a deal for the Tree Section.

Location is the biggest issue here, being just across from a hotel and its parking lot, but with location compromises come lower prices.

This is the second listing of the home this year. It began at $1.499M and chopped to $1.399M before waiting to eventually land a buyer.

Nearby neighbor 3605 Oak (3br/2ba, 1400 sqft.) was the least-expensive sale in the Tree Section this year for a home of any condition on a full-size lot at $1.300M in late September. So we'll see how 3513 eventually compares – though one should expect it to close in 2016 instead.

Even now at $778/PSF, this home at 3513 Oak would be among the lowest-priced 25% of Tree Section homes in 2015 by PPSF. Perhaps the buyer got an even better deal.

2201 Oak Avenue Manhattan Beach CAMeantime, very original 2201 Oak (3br/2ba, 1850 sqft.) had to wait 5 weeks to make a deal on Thursday.

This one is on the "right" (west) side of Oak and could work with a thorough remodel. (Or it could be a 70s museum – your choice.)

Land values along Oak have risen so fast this year, the $1.349M ask seemed designed to draw builders as well.

There are 5 sales along Oak this year where the primary value was in the land. Here they are in escalating price order. They're all odd-numbered addresses, meaning the west side:

  • 2209 Oak (4480 sqft. lot + livable house) at $1.410M

All of those Oak sales also represent the least expensive sales of homes with full-size lots in the Tree Section this year, with just one more we need to shoehorn in: 3601 Poinsettia (3br/1ba, 1075 sqft., 4640 sqft. lot) at $1.350M.

If your budget was lower than $1.3M and you needed to be in the Trees this year, your choices were on Rosecrans (3 sales between $1.100M-$1.170M) or tiny 2801 Valley (2br/1ba, 950 sqft., 2450 sqft. lot), which sold for $985K.

But Dave, isn't there one more to mention?!?

1410 North Ardmore Avenue Manhattan Beach CAThis week the phone's been ringing ever since they listed 1410 N. Ardmore (4br/3ba, 1600 sqft., 4070 sqft. lot).

What's so interesting about this one?

The $800K start price.

To which the proper response is: "Oh, come on!"

This is a short sale that is being more or less informally auctioned.

Dave's got a buyer in the mix, so we need to be pretty limited in what we say right now. But it is somewhat easy to point out that if it transacts, that start price will be a distant memory.

It's worth pointing out that this same property was listed in October 2013 for $800K, also, before going into a 2-year "pending"-status limbo.

Maybe this time is different. But it's unlikely to close during this calendar year, in which case it simply can't become the cheapest sale of this year – they'll have to be satisfied with laurels for lowest asking price.

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