Hill Section Home Gains Nearly 50% Over 9 Years

By Dave Fratello | July 23rd, 2018

218 N Dianthus Street Manhattan Beach CAWe can close the latest chapter in the story of the glamorous Hill Section Mediterranean at 218 N. Dianthus.

When this one came to market in March this year, we dug into the MBC archives for a little reminder that the home's first time on the market went, well, about as badly as it possibly could have gone. (See "Time Heals, and Boosts Values.")

We're here now to celebrate a sale that was smoother, quicker and good for both parties.

The closed sale this week at $5.725M looks like something of a deal in today's go-go Hill Section, where the lid has come off and mere dirt is worth more than ever.

218 N Dianthus Street Manhattan Beach CAIn that March post, we noted that, "Even if prime time for Italianate homes in the Hill Section is in the rear-view mirror, there's always a slot for a solidly built, well-crafted home with ocean views, regardless of which way the wind is blowing for home styles. And that's what makes this one easy to appreciate."

We had a lot more to say in that post about the home's charms and luxe qualities.

One occasion for noting the sale now is its value increase over the 2009 acquisition price of $3.900M.

That's a jump of 47% in the 9 years since acquisition, a period of time that saw the local real estate market go from depressed and depressing to standing tall and proud, thank you.

If you're wondering if about a 47% rise in value is standard for homes sold 9 years ago and re-sold now, frankly it looks a little low. (What were your returns in the financial markets over the same period?) But we'll try to get back to you with data some time soon on that. There aren't too many matched sets of 2009/2018 sales.

218 N Dianthus Street Manhattan Beach CAThere was a discount of sorts on this listing. It came out at $6.395M.

It had cut to $5.995M when this buyer knocked, and they shaved off another $270K in the deal.

This year's sale still didn't approach the very first list price from early 2008: $6.795M. And back then, that was a lot of money.

And the 78 official DOM this time didn't approach the (gasp) 17 months on market that the property experienced before its first sale. (See more on the first sale in "Deal Down Down Low, High on the Hill.")

Below we're posting all Hill Section sales from the past year or so, so you can put this one in context within the area. (Email subscribers will need to view the post in a browser to see the sales.)

ADDRESS BD/BA SQFT LOT PRICE $PSF DOM START $ START
Address 712 Pacific Avenue BD/BA 5br/4ba SQFT 3851 sqft LOT 5833 PRICE $6,500,000 $PSF $1,688 DOM 0 DOM SOLD SOLD 03/23/21 START $ $6,500,000 START 03/23/21
Address 927 8th Street BD/BA 4br/4ba SQFT 3228 sqft LOT 7201 PRICE $3,360,777 $PSF $1,041 DOM 4 DOM SOLD SOLD 02/26/21 START $ $3,550,000 START 02/26/21
Address 633 11th Street BD/BA 5br/6ba SQFT 5200 sqft LOT 5664 PRICE $6,500,000 $PSF $1,250 DOM 75 DOM SOLD SOLD 02/09/21 START $ $6,950,000 START 02/09/21
Address 825 Duncan Place BD/BA 3br/1ba SQFT 1037 sqft LOT 5299 PRICE $3,050,000 $PSF $2,941 DOM 3 DOM SOLD SOLD 01/26/21 START $ $2,699,000 START 01/26/21
Address 868 5th Street BD/BA 4br/3ba SQFT 2965 sqft LOT 5702 PRICE $4,200,000 $PSF $1,417 DOM 3 DOM SOLD SOLD 01/07/21 START $ $4,000,000 START 01/07/21
Address 307 Anderson Street BD/BA 5br/5ba SQFT 4738 sqft LOT 6500 PRICE $4,700,000 $PSF $992 DOM 2 DOM SOLD SOLD 12/10/20 START $ $4,795,000 START 12/10/20
Address 936 8th Street BD/BA 7br/8ba SQFT 6692 sqft LOT 6502 PRICE $6,986,250 $PSF $1,044 DOM 54 DOM SOLD SOLD 11/30/20 START $ $8,000,000 START 11/30/20
Address 204 N Poinsettia Avenue BD/BA 4br/5ba SQFT 4667 sqft LOT 6517 PRICE $4,500,000 $PSF $964 DOM 40 DOM SOLD SOLD 11/20/20 START $ $4,000,000 START 11/20/20
Address 1029 11th Street BD/BA 3br/1ba SQFT 1015 sqft LOT 5623 PRICE $1,500,000 $PSF $1,478 DOM 20 DOM SOLD SOLD 11/17/20 START $ $1,599,000 START 11/17/20
Address 927 N Dianthus BD/BA 4br/3ba SQFT 3758 sqft LOT 5964 PRICE $3,350,000 $PSF $891 DOM 56 DOM SOLD SOLD 10/23/20 START $ $3,495,000 START 10/23/20
Address 906 9th Street BD/BA 6br/7ba SQFT 5422 sqft LOT 7255 PRICE $4,650,001 $PSF $858 DOM 33 DOM SOLD SOLD 10/21/20 START $ $5,150,000 START 10/21/20
Address 704 Pacific Avenue BD/BA 6br/7ba SQFT 5214 sqft LOT 8962 PRICE $11,000,000 $PSF $2,110 DOM 11 DOM SOLD SOLD 10/21/20 START $ $11,995,000 START 10/21/20
Address 600 Anderson Street BD/BA 3br/3ba SQFT 2025 sqft LOT 7151 PRICE $3,500,000 $PSF $1,728 DOM 204 DOM SOLD SOLD 10/14/20 START $ $3,649,000 START 10/14/20
Address 926 Duncan Place BD/BA 4br/3ba SQFT 3174 sqft LOT 4204 PRICE $2,425,000 $PSF $764 DOM 49 DOM SOLD SOLD 10/09/20 START $ $2,498,900 START 10/09/20
Address 601 Larsson Street BD/BA 4br/4ba SQFT 3712 sqft LOT 5504 PRICE $3,200,000 $PSF $862 DOM 29 DOM SOLD SOLD 09/29/20 START $ $3,499,000 START 09/29/20
Address 709 Larsson Street BD/BA 4br/4ba SQFT 3401 sqft LOT 5157 PRICE $3,087,000 $PSF $908 DOM 6 DOM SOLD SOLD 09/25/20 START $ $3,099,000 START 09/25/20
Address 118 S Poinsettia Avenue BD/BA 4br/5ba SQFT 3712 sqft LOT 6245 PRICE $4,425,000 $PSF $1,192 DOM 8 DOM SOLD SOLD 09/22/20 START $ $4,499,000 START 09/22/20
Address 818 11th Street BD/BA 3br/2ba SQFT 1530 sqft LOT 5260 PRICE $2,062,200 $PSF $1,348 DOM 5 DOM SOLD SOLD 09/21/20 START $ $1,995,000 START 09/21/20
Address 717 10th Street BD/BA 5br/4ba SQFT 4266 sqft LOT 5814 PRICE $4,340,000 $PSF $1,017 DOM 57 DOM SOLD SOLD 09/21/20 START $ $4,675,000 START 09/21/20
Address 1033 8th Street BD/BA 4br/5ba SQFT 3600 sqft LOT 7200 PRICE $3,250,000 $PSF $903 DOM 0 DOM SOLD SOLD 09/04/20 START $ $3,250,000 START 09/04/20
Address 600 8th Street BD/BA 3br/3ba SQFT 2377 sqft LOT 7624 PRICE $3,300,000 $PSF $1,388 DOM 6 DOM SOLD SOLD 09/01/20 START $ $3,300,000 START 09/01/20
Address 872 9th Street BD/BA 5br/5ba SQFT 4056 sqft LOT 5813 PRICE $3,800,000 $PSF $937 DOM 18 DOM SOLD SOLD 08/26/20 START $ $3,895,000 START 08/26/20
Address 811 1st Street BD/BA 3br/2ba SQFT 1596 sqft LOT 5126 PRICE $2,669,500 $PSF $1,673 DOM 461 DOM SOLD SOLD 08/24/20 START $ $3,250,000 START 08/24/20
Address 815 1st Street BD/BA 4br/4ba SQFT 3226 sqft LOT 8604 PRICE $3,920,000 $PSF $1,215 DOM 46 DOM SOLD SOLD 08/21/20 START $ $3,895,000 START 08/21/20
Address 943 Duncan Avenue BD/BA 4br/5ba SQFT 4882 sqft LOT 6993 PRICE $2,900,000 $PSF $594 DOM 26 DOM SOLD SOLD 08/20/20 START $ $3,250,000 START 08/20/20
Address 916 9th Street BD/BA 5br/6ba SQFT 4712 sqft LOT 7242 PRICE $4,433,750 $PSF $941 DOM 131 DOM SOLD SOLD 08/19/20 START $ $4,699,000 START 08/19/20
Address 861 11th Street BD/BA 4br/4ba SQFT 3860 sqft LOT 4977 PRICE $3,795,000 $PSF $983 DOM 17 DOM SOLD SOLD 08/12/20 START $ $3,860,000 START 08/12/20
Address 207 S Poinsettia Avenue BD/BA 5br/7ba SQFT 3741 sqft LOT 6252 PRICE $4,325,000 $PSF $1,156 DOM 0 DOM SOLD SOLD 07/30/20 START $ $4,325,000 START 07/30/20
Address 1030 2nd Street BD/BA 3br/4ba SQFT 1876 sqft LOT 4305 PRICE $2,500,000 $PSF $1,333 DOM 11 DOM SOLD SOLD 06/26/20 START $ $2,499,000 START 06/26/20
Address 606 N Ardmore Avenue BD/BA 3br/3ba SQFT 3321 sqft LOT 8781 PRICE $2,450,000 $PSF $738 DOM 11 DOM SOLD SOLD 06/20/20 START $ $3,300,000 START 06/20/20

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