A couple of recent deals show how quickly the Manhattan Beach real estate market has shifted to one favorable for flippers.
You would not have seen a little cottage like 1509 Magnolia (3br/2ba, 1350 sq. ft.) fetch more than $1.3M last year, or in any recent year prior.
But now, sure.
This little cottage was…
A couple of recent deals show how quickly the Manhattan Beach real estate market has shifted to one favorable for flippers.
You would not have seen a little cottage like 1509 Magnolia (3br/2ba, 1350 sq. ft.) fetch more than $1.3M last year, or in any recent year prior.
But now, sure.
This little cottage was a wreck when it sold for $980K a few months back. After a major re-do, with the so-very-now "plantation" style palette applied, it was listed for $1.349M. (For our brief video tour, click here.)
Now it's got a deal.
That home's very straightforward compared to 3212 Palm (4br/3ba, 2300 sq. ft.), another successful flip.
We know this house from years past, and the unusual layout always gives one pause. It's essentially a tri-level home, with 2br down and 2br up top, a living room in between.
But this year, they gave it a thorough re-do with dark floors, white walls, marble kitchen and high-end appliances.
That was after buying the house for $1.350M in July. By mid-August, it was up at $1.749M, and now it's got a deal.
And if we go to a different part of the Trees, it's 3308 Pacific (4br/3ba, 3100 sq. ft.) that calls out for special mention.
The numbers involved here look similar to those for 3212 Palm, although the work needed was more substantial – they had to move walls to fix the layout – and the style was high-end modern.
Acquired for $1.295M in March 2013, this one came back to market in June for $1.795M, after that hefty renovation.
It sold a tad over asking, at $1.803M, less than 2 weeks ago.
These 3 examples hardly give you the full scope. But we've definitely seen a sharp pickup in this kind of activity since just last year. We're hit with requests all the time for tired-out fixer properties that could be good investment opportunities.
Looking back, in "The 'F' Word: Flippers," in November 2012, we gave a few other examples of flips, and offered, "perhaps the return of the flipper is nigh."
Why, yes, it was nigh. It's here now.
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 29th, 2023 at 2:30am 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.
