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.)

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ADDRESS BD/BA SQFT LOT PRICE $PSF DOM START $ START
Address 933 8th Street BD/BA 5br/4ba SQFT 3174 sqft LOT 7201 PRICE $3,275,000 $PSF $1,032 DOM 12 DOM SOLD SOLD 05/22/19 START $ $3,275,000 START 05/22/19
Address 1009 10th Street BD/BA 2br/1ba SQFT 1111 sqft LOT 7499 PRICE $1,990,000 $PSF $1,791 DOM 84 DOM SOLD SOLD 05/10/19 START $ $2,450,000 START 05/10/19
Address 719 11th Street BD/BA 5br/5ba SQFT 5697 sqft LOT 5662 PRICE $4,375,000 $PSF $768 DOM 26 DOM SOLD SOLD 05/07/19 START $ $4,500,000 START 05/07/19
Address 233 Anderson Street BD/BA 5br/5ba SQFT 5750 sqft LOT 7151 PRICE $8,500,000 $PSF $1,478 DOM 0 DOM SOLD SOLD 05/01/19 START $ $8,500,000 START 05/01/19
Address 844 10th Street BD/BA 5br/5ba SQFT 4556 sqft LOT 6002 PRICE $3,550,000 $PSF $779 DOM 19 DOM SOLD SOLD 04/12/19 START $ $3,600,000 START 04/12/19
Address 814 10th Street BD/BA 6br/8ba SQFT 8963 sqft LOT 12015 PRICE $8,425,000 $PSF $940 DOM 202 DOM SOLD SOLD 04/09/19 START $ $9,550,000 START 04/09/19
Address 915 Duncan Avenue BD/BA 5br/7ba SQFT 4637 sqft LOT 4998 PRICE $5,100,000 $PSF $1,100 DOM 281 DOM SOLD SOLD 03/08/19 START $ $5,850,000 START 03/08/19
Address 946 11th Street BD/BA 3br/2ba SQFT 1731 sqft LOT 7505 PRICE $2,400,000 $PSF $1,386 DOM 13 DOM SOLD SOLD 12/21/18 START $ $2,700,000 START 12/21/18
Address 714 N Dianthus Street BD/BA 5br/5ba SQFT 3573 sqft LOT 5161 PRICE $3,750,000 $PSF $1,050 DOM 43 DOM SOLD SOLD 12/14/18 START $ $4,195,000 START 12/14/18
Address 807 Boundary Place BD/BA 5br/5ba SQFT 3200 sqft LOT 4526 PRICE $2,750,000 $PSF $859 DOM 13 DOM SOLD SOLD 11/21/18 START $ $2,750,000 START 11/21/18
Address 876 11th Street BD/BA 5br/6ba SQFT 4143 sqft LOT 6005 PRICE $3,925,000 $PSF $947 DOM 53 DOM SOLD SOLD 10/24/18 START $ $4,295,000 START 10/24/18
Address 837 9th Street BD/BA 3br/2ba SQFT 1425 sqft LOT 5576 PRICE $3,200,000 $PSF $2,246 DOM 18 DOM SOLD SOLD 10/19/18 START $ $3,595,000 START 10/19/18
Address 220 Larsson Street BD/BA 5br/4ba SQFT 3356 sqft LOT 3439 PRICE $2,560,000 $PSF $763 DOM 66 DOM SOLD SOLD 10/12/18 START $ $2,699,000 START 10/12/18
Address 933 9th Street BD/BA 4br/4ba SQFT 3963 sqft LOT 7501 PRICE $4,600,000 $PSF $1,161 DOM 42 DOM SOLD SOLD 10/10/18 START $ $4,751,000 START 10/10/18
Address 204 Anderson Street BD/BA 3br/3ba SQFT 1800 sqft LOT 3253 PRICE $2,350,000 $PSF $1,306 DOM 69 DOM SOLD SOLD 08/31/18 START $ $2,500,000 START 08/31/18
Address 200 S Dianthus Street BD/BA 5br/5ba SQFT 4000 sqft LOT 6250 PRICE $4,000,000 $PSF $1,000 DOM 106 DOM SOLD SOLD 08/27/18 START $ $4,349,000 START 08/27/18
Address 1016 John Street BD/BA 5br/4ba SQFT 3075 sqft LOT 5630 PRICE $4,189,000 $PSF $1,362 DOM 6 DOM SOLD SOLD 08/24/18 START $ $4,189,000 START 08/24/18
Address 612 John Street BD/BA 6br/8ba SQFT 7398 sqft LOT 9983 PRICE $12,850,000 $PSF $1,737 DOM 14 DOM SOLD SOLD 08/08/18 START $ $13,700,000 START 08/08/18
Address 606 Anderson Street BD/BA 6br/4ba SQFT 3280 sqft LOT 4878 PRICE $3,950,000 $PSF $1,204 DOM 7 DOM SOLD SOLD 08/01/18 START $ $3,950,000 START 08/01/18
Address 709 Larsson Street BD/BA 4br/4ba SQFT 3171 sqft LOT 5157 PRICE $3,100,000 $PSF $978 DOM 8 DOM SOLD SOLD 07/31/18 START $ $2,950,000 START 07/31/18
Address 218 N Dianthus Street BD/BA 4br/5ba SQFT 6109 sqft LOT 8284 PRICE $5,725,000 $PSF $937 DOM 78 DOM SOLD SOLD 07/23/18 START $ $6,395,000 START 07/23/18
Address 630 8th Street BD/BA 3br/2ba SQFT 2478 sqft LOT 9951 PRICE $6,000,000 $PSF $2,421 DOM 0 DOM SOLD SOLD 07/18/18 START $ $6,000,000 START 07/18/18
Address 941 Duncan Place BD/BA 5br/5ba SQFT 4182 sqft LOT 7958 PRICE $4,450,000 $PSF $1,064 DOM 116 DOM SOLD SOLD 06/28/18 START $ $4,650,000 START 06/28/18
Address 718 Anderson Street BD/BA 4br/2ba SQFT 2342 sqft LOT 6502 PRICE $2,600,000 $PSF $1,110 DOM 11 DOM SOLD SOLD 06/20/18 START $ $2,700,000 START 06/20/18

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