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 931 Duncan Avenue BD/BA 3br/1ba SQFT 1273 sqft LOT 4797 PRICE $2,655,000 $PSF $2,086 DOM 11 DOM SOLD SOLD 08/02/21 START $ $2,249,000 START 08/02/21
Address 935 Boundary Place BD/BA 4br/3ba SQFT 1986 sqft LOT 4403 PRICE $2,080,000 $PSF $1,047 DOM 0 DOM SOLD SOLD 07/30/21 START $ $2,080,000 START 07/30/21
Address 818 8th Street BD/BA 5br/6ba SQFT 6393 sqft LOT 9949 PRICE $12,738,290 $PSF $1,993 DOM 0 DOM SOLD SOLD 07/28/21 START $ $12,750,000 START 07/28/21
Address 706 Anderson Street BD/BA 3br/2ba SQFT 1900 sqft LOT 3253 PRICE $2,438,000 $PSF $1,283 DOM 2 DOM SOLD SOLD 07/27/21 START $ $2,350,000 START 07/27/21
Address 933 9th Street BD/BA 4br/4ba SQFT 3963 sqft LOT 7501 PRICE $5,300,000 $PSF $1,337 DOM 13 DOM SOLD SOLD 07/27/21 START $ $5,250,000 START 07/27/21
Address 501 N Poinsettia Avenue BD/BA 3br/3ba SQFT 1388 sqft LOT 5720 PRICE $5,008,000 $PSF $3,608 DOM 1 DOM SOLD SOLD 07/21/21 START $ $4,675,000 START 07/21/21
Address 877 8th Street BD/BA 6br/6ba SQFT 4658 sqft LOT 5781 PRICE $5,250,000 $PSF $1,127 DOM 8 DOM SOLD SOLD 07/19/21 START $ $5,295,000 START 07/19/21
Address 406 Anderson Street BD/BA 5br/4ba SQFT 4304 sqft LOT 6502 PRICE $4,950,000 $PSF $1,150 DOM 10 DOM SOLD SOLD 07/01/21 START $ $5,000,000 START 07/01/21
Address 865 3rd Street BD/BA 4br/5ba SQFT 4372 sqft LOT 5700 PRICE $5,449,000 $PSF $1,246 DOM 178 DOM SOLD SOLD 06/25/21 START $ $5,999,000 START 06/25/21
Address 937 8th Street BD/BA 5br/6ba SQFT 5151 sqft LOT 7200 PRICE $6,999,000 $PSF $1,359 DOM 19 DOM SOLD SOLD 06/25/21 START $ $6,999,000 START 06/25/21
Address 719 Anderson Street BD/BA 4br/3ba SQFT 2261 sqft LOT 3250 PRICE $2,519,300 $PSF $1,114 DOM 32 DOM SOLD SOLD 06/25/21 START $ $2,799,000 START 06/25/21
Address 848 11th Street BD/BA 6br/6ba SQFT 4613 sqft LOT 6002 PRICE $4,400,000 $PSF $954 DOM 18 DOM SOLD SOLD 06/24/21 START $ $4,599,000 START 06/24/21
Address 509 N Dianthus Street BD/BA 4br/3ba SQFT 2157 sqft LOT 3251 PRICE $2,427,000 $PSF $1,125 DOM 33 DOM SOLD SOLD 06/22/21 START $ $2,550,000 START 06/22/21
Address 700 John Street BD/BA 6br/3ba SQFT 4770 sqft LOT 9982 PRICE $8,700,000 $PSF $1,824 DOM 0 DOM SOLD SOLD 06/17/21 START $ $8,700,000 START 06/17/21
Address 711 Larsson Street BD/BA 4br/3ba SQFT 1787 sqft LOT 6875 PRICE $3,000,000 $PSF $1,679 DOM 27 DOM SOLD SOLD 06/03/21 START $ $2,999,999 START 06/03/21
Address 706 N Dianthus Street BD/BA 5br/4ba SQFT 3650 sqft LOT 5161 PRICE $3,351,750 $PSF $918 DOM 13 DOM SOLD SOLD 06/02/21 START $ $3,200,000 START 06/02/21
Address 224 N Ardmore Avenue BD/BA 2br/1ba SQFT 1146 sqft LOT 5401 PRICE $3,100,000 $PSF $2,705 DOM 0 DOM SOLD SOLD 04/29/21 START $ $3,100,000 START 04/29/21
Address 1009 10th Street BD/BA 6br/7ba SQFT 5073 sqft LOT 7499 PRICE $5,000,000 $PSF $986 DOM 134 DOM SOLD SOLD 04/22/21 START $ $5,299,000 START 04/22/21
Address 844 10th Street BD/BA 5br/5ba SQFT 4556 sqft LOT 6002 PRICE $4,205,000 $PSF $923 DOM 14 DOM SOLD SOLD 04/22/21 START $ $4,295,000 START 04/22/21
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

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