Double Huge East MB Lots Close

By Dave Fratello | June 9th, 2017

The story now is tied up with a bow.

1155 Ronda Drive Manhattan Beach CA1155 and 1165 Ronda have now closed, together, in one sale for $10.885M.

As we noted last month, this property is really two lots in a hidden part of East Manhattan Beach, one with a main house (1155, to the right in this photo) and another (1165) acquired by those owners at some point for a guest house, monster garage and vast, grassy yard.

At 39,000+ sqft., the two parcels together make up 90% of an acre.

1155 Ronda Drive Manhattan Beach CAThese were first offered for sale last year with a $14.900M start price in April 2016. That listing canceled and a new one began this year, last showing at $11.500M.

So the total drop from start is over $4M, and 27%.

The drop from last asking price was just 5% (-$615K).

If you were to ignore the structures, the lots here just traded for $5.4M each. Of course, there's a lot of house on one lot and a nice second structure on the other, so perhaps the land values were closer to $4M each.

It's an extraordinary acquisition, almost an acre of beach area property that we've said looks a bit like Brentwood or Beverly Hills.

At 1155, the late-80s custom "castle-like" house seems surely to be due for updates. You might see something different happen with the second lot.

We'll see what more we can learn about the plans for next steps here.

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