High/Low Sales of 2019: East Manhattan

By Dave Fratello | January 14th, 2020

It's always fun to look back at stats from the local real estate market in the prior year.

Here's our first look at high and low sales in East Manhattan Beach in 2019.

We'll chime in throughout the month with more from other parts of MB.

High Sales

The very highest sales all deserve their own category, almost: New construction.

That once-upon-a-time academic discussion of whether an East MB home on a typically sized lot might ever sell over $4M was smashed this year. It happened three times.

But none was bigger than 1755 8th (5br/8ba, 4835 sqft.) at $4.465M in July.

The first to cross $4M was 1320 9th (6br/7ba, 4900 sqft.) at $4.250M in June. Later in July came 1643 8th (5br/6ba, 4835 sqft.) at $4.150M.

The highest resale was a new home not too long ago, 1131 6th (5br/5ba, 5025 sqft.) at $3.800M.

And the first high resale of the year was the improbably enormous and Italianate 1520 Gates (6br/7ba, 6030 sqft.), a 2008 build that closed at $3.675M.

1900 Lynngrove Drive Manhattan Beach CALiberty Village saw a new high for new construction with the sale of 1900 Lynngrove (5br/6ba, 3600 sqft.) at $3.125M.

That was $345K (12%) more than any new construction sale in Liberty Village (the area east of Redondo Ave.).

Liberty Village also hit the high for resale homes under 3000 sqft. with the trade at 2101 Faymont (4br/4ba, 2875 sqft.) at $2.460M, an overbid of $61K.

The Manhattan Village gated community saw two new record sales in the single-family/estates division.

There had been one "estate home" sale over $2.5M in the past.

12 Westport Manhattan Beach CALast year, two at or over $2.7M: 12 Westport at $2.850M and 24 Westport at $2.700M.

And among the townhomes in the Village, one resale nearly hit $2M.

That was 26 Fairway (4br/3ba, 2600 sqft.), a large Plan 8F situated on the golf course and with a recent, totally contemporary/beachy interior remodel. Sold for $1.950M.

Lastly, the top sale among the 2br units in the Village was 19 Malaga Place (2br/2ba, 1450 sqft.), a partly updated end unit, which closed for $1.275M.

Low Sales

The very lowest price paid for a home in Manhattan Beach in 2019 was $700,000, at 1311 Manhattan Beach Blvd. #2.

This 2br/2ba, 922 sqft. condo was built in 1974 but recently updated.

In fact, you could call this a failed flip. A foreclosure investor snapped up the unit for $684K in March 2018, tidied and modernized it, and put it up for $899K in Aug. 2018.

It took two more listings and an eventual price cut to $700K to sell it slightly more than a year after acquisition, in March 2019.

Just for reference's sake, the median home price for all of Los Angeles County in 2019 was $632K.

Six more condos along busy streets, MB Blvd. and Artesia, were also among the lowest sales, ranging from $786K-$952K.

615 N Peck Avenue Manhattan Beach CAThe lowest-priced SFR in East Manhattan was on a small lot: 615 N. Peck (3br/2ba, 1075 sqft.) is on a half lot (3738 sqft.) just around the corner from 8th St.

The home sold off-market for $1.025M.

So, no, you can't buy a single family home in Manhattan Beach under $1M. But close!

Two more condo style homes came in near $1M:

311 Aviation Place (3br/3ba, 1750 sqft.) in the "Manhattan Pointe" development sold for $1.045M, and

1208 Tennyson #1 (3br/3ba, 1750 sqft.) over near the high school closed for $1.050M.

Two Village court homes sold for $1.070M, 29 Laguna Ct. (2br/2ba, 1475 sqft.) and 30 Monterey Ct. (2br/2ba, 1475 sqft.), with the latter being more updated.

This was the highest "low" ever for a year in Manhattan Village.

Turns out, 2016 was the last year any Village property sold for less than $1M, a year when 3 court homes sold below that threshold.

Finally, looking all across East Manhattan, the lowest price paid for as SFR with a lot of 7000+ sqft. was 1556 23rd, a major fixer in the "Roth" neighborhood. (See "Fixer Sells for Same Price as 'Fixed.'")

Asking $1.700M as a "come-on" price, it closed for $1.780M after multiple offers.

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