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 513 Anderson Street BD/BA 5br/4ba SQFT 3979 sqft LOT 5250 PRICE $3,750,000 $PSF $942 DOM 25 DOM SOLD SOLD 01/25/23 START $ $3,750,000 START 01/25/23
Address 319 S Dianthus Street BD/BA 5br/7ba SQFT 5685 sqft LOT 5953 PRICE $9,800,000 $PSF $1,724 DOM 137 DOM SOLD SOLD 01/12/23 START $ $12,999,000 START 01/12/23
Address 641 11th Street BD/BA 3br/4ba SQFT 1788 sqft LOT 5675 PRICE $3,200,000 $PSF $1,790 DOM 0 DOM SOLD SOLD 12/07/22 START $ $3,200,000 START 12/07/22
Address 817 Pacific Avenue BD/BA 3br/2ba SQFT 1510 sqft LOT 6254 PRICE $5,200,000 $PSF $3,444 DOM 141 DOM SOLD SOLD 12/06/22 START $ $6,050,000 START 12/06/22
Address 621 6th Street BD/BA 3br/4ba SQFT 4259 sqft LOT 7126 PRICE $4,850,000 $PSF $1,139 DOM 14 DOM SOLD SOLD 11/29/22 START $ $4,850,000 START 11/29/22
Address 809 Duncan Avenue BD/BA 4br/4ba SQFT 3419 sqft LOT 4795 PRICE $3,475,000 $PSF $1,016 DOM 5 DOM SOLD SOLD 11/22/22 START $ $3,399,000 START 11/22/22
Address 600 Anderson Street BD/BA 3br/3ba SQFT 2025 sqft LOT 7151 PRICE $4,550,000 $PSF $2,247 DOM 12 DOM SOLD SOLD 10/18/22 START $ $4,699,000 START 10/18/22
Address 763 11th Street BD/BA 5br/6ba SQFT 4961 sqft LOT 6404 PRICE $7,376,000 $PSF $1,487 DOM 58 DOM SOLD SOLD 10/07/22 START $ $8,000,000 START 10/07/22
Address 1023 11th Street BD/BA 4br/2ba SQFT 1700 sqft LOT 6243 PRICE $2,210,000 $PSF $1,300 DOM 7 DOM SOLD SOLD 08/02/22 START $ $1,995,000 START 08/02/22
Address 932 9th Street BD/BA 3br/2ba SQFT 1684 sqft LOT 7255 PRICE $2,845,000 $PSF $1,689 DOM 0 DOM SOLD SOLD 07/28/22 START $ $2,999,000 START 07/28/22
Address 1026 1st Street BD/BA 4br/6ba SQFT 3868 sqft LOT 4806 PRICE $5,150,000 $PSF $1,331 DOM 9 DOM SOLD SOLD 07/26/22 START $ $5,250,000 START 07/26/22
Address 1018 9th Street BD/BA 5br/6ba SQFT 3930 sqft LOT 7251 PRICE $5,765,000 $PSF $1,467 DOM 12 DOM SOLD SOLD 07/13/22 START $ $5,825,000 START 07/13/22
Address 1022 9th Street BD/BA 4br/2ba SQFT 1770 sqft LOT 7251 PRICE $2,910,000 $PSF $1,644 DOM 8 DOM SOLD SOLD 07/11/22 START $ $2,900,000 START 07/11/22
Address 812 5th Street BD/BA 6br/7ba SQFT 5576 sqft LOT 7124 PRICE $8,980,000 $PSF $1,610 DOM 34 DOM SOLD SOLD 05/23/22 START $ $10,500,000 START 05/23/22
Address 300 N Dianthus Street BD/BA 6br/6ba SQFT 5500 sqft LOT 7565 PRICE $6,305,000 $PSF $1,146 DOM 13 DOM SOLD SOLD 05/13/22 START $ $6,499,999 START 05/13/22
Address 1012 10th Street BD/BA 4br/4ba SQFT 2609 sqft LOT 7501 PRICE $3,437,500 $PSF $1,318 DOM 14 DOM SOLD SOLD 05/13/22 START $ $3,695,000 START 05/13/22
Address 611 Anderson Street BD/BA 4br/3ba SQFT 2187 sqft LOT 4876 PRICE $4,030,000 $PSF $1,843 DOM 7 DOM SOLD SOLD 04/29/22 START $ $3,649,000 START 04/29/22
Address 512 John Street BD/BA 4br/5ba SQFT 4691 sqft LOT 6372 PRICE $8,770,000 $PSF $1,870 DOM 0 DOM SOLD SOLD 04/29/22 START $ $8,800,000 START 04/29/22
Address 513 N Dianthus Street BD/BA 3br/3ba SQFT 2770 sqft LOT 3250 PRICE $3,200,000 $PSF $1,155 DOM 6 DOM SOLD SOLD 04/13/22 START $ $3,000,000 START 04/13/22
Address 1038 2nd Street BD/BA 5br/4ba SQFT 4199 sqft LOT 5200 PRICE $3,300,000 $PSF $786 DOM 13 DOM SOLD SOLD 04/05/22 START $ $3,350,000 START 04/05/22
Address 825 Highview Avenue BD/BA 4br/5ba SQFT 5000 sqft LOT 5346 PRICE $8,500,000 $PSF $1,700 DOM 101 DOM SOLD SOLD 03/15/22 START $ $8,999,000 START 03/15/22

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