South of the Manhattan Beach pier, there's a special appeal to Sand Section homes that seems to propel values up.
One of the latest, and most interesting sales, is 617 Manhattan Ave. (3br/3ba, 1970 sqft.).
It's a 1980s Spanish that could use a round of updates. Big time.
When it launched at $4.900M, you…
South of the Manhattan Beach pier, there's a special appeal to Sand Section homes that seems to propel values up.
One of the latest, and most interesting sales, is 617 Manhattan Ave. (3br/3ba, 1970 sqft.).
It's a 1980s Spanish that could use a round of updates. Big time.
When it launched at $4.900M, you may have assumed that was a full-lot house (2700 sqft.), but no. Per the MLS, the walkstreet-fronting home is situated on a 1344 sqft. plot of land.
Manhattan Ave., which tends to be busier than Highland Ave. south of the pier, runs along a side of the home.
The listing ran a month with no price cuts, but it turns out that the serious buyer who knocked did take a big discount.
The closed sale now: $4.250M. That's 13% under the asking price (-$650K).
And yet, that's still more than $4M for a major fixer on a half lot. Our info is that there will be a major gut-and-remodel starting more than a year down the road.
Look north in town, and what do you find?
Right along the same street, on what is arguably a quieter stretch of it, 2807 Manhattan Ave. is in escrow with a list price of $3.999M. The 1970s triplex is not the main appeal or driver of value: it's the full-sized, 2700 sqft. lot (albeit with a different shape, 60' x 45' instead of the typical 30' x 90').
That's a full lot for less than the half lot just sold for south of the pier. (Disclosure: Dave has clients who have shown interest in the property.)
Since we're talking about Spanish-style homes built in the 1980s south of the pier, did you notice that we're listing 233 7th St.?
That's a full lot and a large home (4br/4ba, 3885 sqft.) on a walkstreet that boasts the same kind of downtown-accessible location that drew so much interest (and money) to 617 Manhattan Ave. Literally, 233 7th is on the same walkstreet, just a half block up.
The list price of $4.850M for 233 7th is 14% higher than the sale down the street at 617 Manhattan, but both the home size and lot size are 100% larger.
If you're looking in the Sand Section, this one deserves to be on your radar for sure.
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Please see our blog disclaimer.
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 21st, 2023 at 11:00pm 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.
