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 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
Address 233 Anderson Street BD/BA 5br/6ba SQFT 6780 sqft LOT 7151 PRICE $6,100,000 $PSF $900 DOM 15 DOM SOLD SOLD 06/15/18 START $ $6,495,000 START 06/15/18
Address 617 Anderson Street BD/BA 6br/8ba SQFT 6450 sqft LOT 6500 PRICE $6,900,000 $PSF $1,070 DOM 22 DOM SOLD SOLD 06/08/18 START $ $6,999,000 START 06/08/18
Address 100 N Dianthus Street BD/BA 6br/7ba SQFT 7060 sqft LOT 9370 PRICE $6,362,400 $PSF $901 DOM 84 DOM SOLD SOLD 05/30/18 START $ $7,000,000 START 05/30/18
Address 524 11th Street BD/BA 6br/7ba SQFT 6233 sqft LOT 8754 PRICE $7,307,625 $PSF $1,172 DOM 41 DOM SOLD SOLD 05/22/18 START $ $7,450,000 START 05/22/18
Address 621 8th Street BD/BA 4br/5ba SQFT 4869 sqft LOT 7742 PRICE $7,100,000 $PSF $1,458 DOM 23 DOM SOLD SOLD 05/14/18 START $ $7,195,000 START 05/14/18
Address 513 N Dianthus Street BD/BA 3br/3ba SQFT 2470 sqft LOT 3250 PRICE $2,350,000 $PSF $951 DOM 117 DOM SOLD SOLD 04/04/18 START $ $2,399,000 START 04/04/18
Address 222 Larsson Street BD/BA 3br/5ba SQFT 2455 sqft LOT 3440 PRICE $1,930,000 $PSF $786 DOM 6 DOM SOLD SOLD 03/28/18 START $ $1,825,000 START 03/28/18
Address 1018 9th Street BD/BA 5br/3ba SQFT 3048 sqft LOT 7251 PRICE $2,455,000 $PSF $805 DOM 8 DOM SOLD SOLD 03/27/18 START $ $2,350,000 START 03/27/18
Address 624 9th Street BD/BA 6br/7ba SQFT 6342 sqft LOT 9429 PRICE $8,050,218 $PSF $1,269 DOM 258 DOM SOLD SOLD 03/22/18 START $ $8,999,000 START 03/22/18
Address 912 11th Street BD/BA 6br/6ba SQFT 5108 sqft LOT 7504 PRICE $3,395,000 $PSF $665 DOM 51 DOM SOLD SOLD 02/27/18 START $ $3,495,000 START 02/27/18
Address 231 N Dianthus Street BD/BA 4br/3ba SQFT 2160 sqft LOT 4875 PRICE $2,111,000 $PSF $977 DOM 13 DOM SOLD SOLD 02/26/18 START $ $1,999,000 START 02/26/18
Address 711 Larsson Street BD/BA 4br/2ba SQFT 1787 sqft LOT 6875 PRICE $1,720,000 $PSF $963 DOM 20 DOM SOLD SOLD 12/29/17 START $ $1,799,000 START 12/29/17
Address 919 1st Street BD/BA 3br/2ba SQFT 1941 sqft LOT 8600 PRICE $4,650,000 $PSF $2,396 DOM 84 DOM SOLD SOLD 12/08/17 START $ $5,299,000 START 12/08/17
Address 222 John Street BD/BA 4br/4ba SQFT 3842 sqft LOT 4945 PRICE $4,600,000 $PSF $1,197 DOM 56 DOM SOLD SOLD 12/08/17 START $ $4,999,000 START 12/08/17
Address 701 N Dianthus Street BD/BA 5br/4ba SQFT 3605 sqft LOT 5204 PRICE $3,190,000 $PSF $885 DOM 1 DOM SOLD SOLD 12/05/17 START $ $3,210,000 START 12/05/17
Address 831 Duncan Place BD/BA 4br/3ba SQFT 1578 sqft LOT 5318 PRICE $2,250,000 $PSF $1,426 DOM 215 DOM SOLD SOLD 11/15/17 START $ $2,950,000 START 11/15/17
Address 220 Larsson Street BD/BA 4br/4ba SQFT 3356 sqft LOT 3439 PRICE $1,610,000 $PSF $480 DOM 36 DOM SOLD SOLD 11/14/17 START $ $1,799,000 START 11/14/17
Address 712 John Street BD/BA 7br/8ba SQFT 6784 sqft LOT 9943 PRICE $9,400,000 $PSF $1,386 DOM 218 DOM SOLD SOLD 11/03/17 START $ $10,995,000 START 11/03/17
Address 204 Larsson Street BD/BA 4br/2ba SQFT 2281 sqft LOT 3441 PRICE $1,580,000 $PSF $693 DOM 3 DOM SOLD SOLD 11/03/17 START $ $1,495,000 START 11/03/17
Address 931 Duncan Place BD/BA 5br/5ba SQFT 4920 sqft LOT 7835 PRICE $4,775,000 $PSF $971 DOM 33 DOM SOLD SOLD 10/31/17 START $ $4,799,000 START 10/31/17
Address 1025 Duncan Place BD/BA 4br/5ba SQFT 4160 sqft LOT 8393 PRICE $4,050,000 $PSF $974 DOM 28 DOM SOLD SOLD 10/06/17 START $ $4,300,000 START 10/06/17
Address 1020 Pacific Avenue BD/BA 4br/3ba SQFT 2114 sqft LOT 12005 PRICE $4,725,000 $PSF $2,235 DOM 137 DOM SOLD SOLD 09/19/17 START $ $5,595,000 START 09/19/17
Address 873 11th Street BD/BA 4br/4ba SQFT 3491 sqft LOT 4962 PRICE $3,135,000 $PSF $898 DOM 15 DOM SOLD SOLD 09/08/17 START $ $3,199,000 START 09/08/17

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