Here and there, intriguing lot sales are coming on the market.
Partly that's because builders aren't able to snap them up like they once did – business is a drag. And partly we're seeing these lots come up on public offer because the sellers are looking to push the boundaries for what ought to be paid for choice…
Here and there, intriguing lot sales are coming on the market.
Partly that's because builders aren't able to snap them up like they once did – business is a drag. And partly we're seeing these lots come up on public offer because the sellers are looking to
push the boundaries for what ought to be paid for choice dirt.
Last week, MBC featured two candidates for splittable lots, one in the Hills at
222 N. Poinsettia (
$7.9m) and one in the Trees at
2900 Maple (
$2.7m). (See "
Just Split 'Em.")
Now, a new, dreamy Sand Section lot has just come up –
320 Manhattan Ave. (Click highlighted address for pics & details via Redfin.) There's a ho-hum old duplex there now, but you know that's not what the
$4.2m pricetag is all about.
320 Manhattan has a 33' frontage on Manhattan Ave. and goes back 100 feet all the way to Bayview (a sorta-street, sorta-alley).
Here's the big draw: That 100' stretch fronts the 4th St. walkstreet. No neighbors on one side, a gently upsloping walkstreet, ocean views. Yeah, nice.
There's probably just one thing that could make this South End lot better – if it were on the north side of the walkstreet, rather than the south, meaning the whole house could bask in sun for more of the day.
Trifles.Some fairly recent, comparable, open-market South End lot sales would include two slightly smaller (2700 sq. ft.) lots west of Manhattan Ave.:
- 120 2nd, $3.810m, 4/30/07
- 129 6th, $3.625m, 2/14/08
Also,
128 5th tried in Fall 2007 for
$3.975m (see "
Sand Lots," Nov. 2007), hung around a while, cut just a bit to $3.9 and canceled after nearby 129 6th sold for less.
All those lots were closer to The Strand, but were a bit smaller (2700 sq. ft.) and, of course oriented differently, with narrow walkstreet frontages. Adjusting for everything, 320 Manhattan might be just about right.
Your blog author is no big gambler, but we'll put aside our aversion to the Lottery and give it a play this weekend, just in case...
Please see our blog disclaimer.
Listings presented above are supplied via the MLS and are brokered by a variety of agents and firms, not Dave Fratello or Edge Real Estate Agency, unless so stated with the listing. Images and links to properties above lead to a full MLS display of information, including home details, lot size, all photos, and listing broker and agent information and contact information.
Based on information from California Regional Multiple Listing Service, Inc. as of March 30th, 2023 at 9:47am PDT. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
