East MB Bucket (8)

By Dave Fratello | April 1st, 2009
The cheapest SFR in all of Manhattan Beach is in East MB:

1407 12th (3br/1ba, 1300 sq. ft.), offered at just $600k, is a well-worn 1950s-era cottage with bonus shed space in the back yard.

Lot is a decent size at 5,250 sq. ft., but most neighbors are condo/apt. buildings. Proximity to school & parks is pretty nice if you don't mind the neighborhood.

The listing for 12th began as a FSBO on owners.com (click for listing) at $1m, but time has trimmed that asking price.

It's now posted as a "probate short sale, subject to court confirmation." That's a double, maybe triple-whammy of hassles for deal-seekers. But look at that price!

A short hop across MBB, but a world away, is 1501 9th, a very big (6br/10ba, 8550 sq. ft.) new home on a rare double corner lot. It starts at $6.5m, which might be a reach, or may make this one of the better luxury buys in the LA area. Depends on your perspective.

This is the sort of property you expect in the Hill Section or some of the LA area's ritzier neighborhoods, with a courtyard design, a covered outdoor living room and kitchen plus all the big stuff inside – tiered home theater, huge catering kitchen, all kinds of extra entertaining spaces and a luxe home office for the Master of the Universe who'd prefer to skip the commute.

The owner, a prominent local RE agent, built the home custom for himself, but will let it go for the right price. Sure, people kid about the guy, but in this market he did just sell the first new home to appear on The Strand in some time to an all-cash buyer, just as an example, so he's doing something right.

Here's a thought – Get your price: win. Don't sell, stay at 1501 9th: win.

Wow. Guy's got it wired either way.


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