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 939 Duncan Avenue BD/BA 4br/4ba SQFT 3947 sqft LOT 4500 PRICE $3,500,000 $PSF $887 DOM 0 DOM SOLD SOLD 04/02/20 START $ $3,549,000 START 04/02/20
Address 852 8th Street BD/BA 5br/6ba SQFT 4705 sqft LOT 5691 PRICE $6,200,000 $PSF $1,318 DOM 1 DOM SOLD SOLD 03/10/20 START $ $6,195,000 START 03/10/20
Address 822 6th Street BD/BA 3br/3ba SQFT 1902 sqft LOT 4988 PRICE $3,575,000 $PSF $1,880 DOM 7 DOM SOLD SOLD 03/03/20 START $ $2,999,000 START 03/03/20
Address 206 N Dianthus Street BD/BA 3br/4ba SQFT 4404 sqft LOT 6878 PRICE $3,130,000 $PSF $711 DOM 155 DOM SOLD SOLD 01/03/20 START $ $3,788,000 START 01/03/20
Address 709 Larsson Street BD/BA 4br/4ba SQFT 3401 sqft LOT 5157 PRICE $2,895,000 $PSF $851 DOM 7 DOM SOLD SOLD 12/04/19 START $ $2,999,000 START 12/04/19
Address 210 Poinsettia Avenue BD/BA 6br/6ba SQFT 5486 sqft LOT 6250 PRICE $7,100,000 $PSF $1,294 DOM 158 DOM SOLD SOLD 11/26/19 START $ $8,500,000 START 11/26/19
Address 712 Anderson Street BD/BA 3br/3ba SQFT 2014 sqft LOT 3253 PRICE $1,800,000 $PSF $894 DOM 58 DOM SOLD SOLD 11/15/19 START $ $1,874,000 START 11/15/19
Address 508 Larsson Street BD/BA 5br/6ba SQFT 4680 sqft LOT 6877 PRICE $3,275,000 $PSF $700 DOM 1 DOM SOLD SOLD 11/05/19 START $ $3,595,000 START 11/05/19
Address 804 Duncan Avenue BD/BA 3br/4ba SQFT 2119 sqft LOT 2950 PRICE $2,225,000 $PSF $1,050 DOM 99 DOM SOLD SOLD 10/31/19 START $ $2,350,000 START 10/31/19
Address 861 8th Street BD/BA 5br/7ba SQFT 5656 sqft LOT 5751 PRICE $5,600,000 $PSF $990 DOM 126 DOM SOLD SOLD 10/03/19 START $ $6,299,000 START 10/03/19
Address 304 N Ardmore Avenue BD/BA 5br/6ba SQFT 6342 sqft LOT 7095 PRICE $6,650,000 $PSF $1,049 DOM 58 DOM SOLD SOLD 10/02/19 START $ $6,895,000 START 10/02/19
Address 917 10th Street BD/BA 3br/2ba SQFT 1296 sqft LOT 7501 PRICE $2,475,000 $PSF $1,910 DOM 7 DOM SOLD SOLD 08/22/19 START $ $2,394,000 START 08/22/19
Address 923 Duncan Avenue BD/BA 2br/1ba SQFT 979 sqft LOT 4802 PRICE $2,000,000 $PSF $2,043 DOM 56 DOM SOLD SOLD 08/20/19 START $ $2,399,000 START 08/20/19
Address 849 10th Street BD/BA 5br/5ba SQFT 4356 sqft LOT 5999 PRICE $3,700,000 $PSF $849 DOM 0 DOM SOLD SOLD 08/09/19 START $ $3,700,000 START 08/09/19
Address 1030 2nd Street BD/BA 3br/2ba SQFT 1877 sqft LOT 4305 PRICE $1,700,000 $PSF $906 DOM 46 DOM SOLD SOLD 07/12/19 START $ $1,999,000 START 07/12/19
Address 108 S Poinsettia Avenue BD/BA 5br/6ba SQFT 4836 sqft LOT 6251 PRICE $5,435,000 $PSF $1,124 DOM 96 DOM SOLD SOLD 07/05/19 START $ $5,900,000 START 07/05/19
Address 401 N Dianthus Street BD/BA 6br/7ba SQFT 6312 sqft LOT 6499 PRICE $6,772,000 $PSF $1,073 DOM 15 DOM SOLD SOLD 06/25/19 START $ $7,099,000 START 06/25/19
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

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