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How Rare Are Sub-$2M SFRs in Manhattan Beach?

We are getting to that time of year when listings that haven't sold – but where sellers actually mean to sell – are going to start sending up flares.

An example might be 1160 Shelley (4br/3ba, 1737 sqft.), which cut $165K on Monday to get just under $2M, now at $1.985M with 66 official DOM.

(1160 Shelley is listed by Tim Kelley of Tim Cullen Kelley.)

1160 Shelley Street, Manhattan Beach, CA

Not just a 3br cottage, but a 4 bedroom, under $2M? 

How often has that happened? 

We decided to take a look.

Below are all sales of single-family homes in Manhattan Beach within this year, with at least 3 bedrooms, that closed under $2.000M. (Click any address to see more property details.)

Tree Section (8)

ADDRESSBD/BASQFTLOTCLOSED PRICE$PSFDOMSTART $SOLD
2508 Pacific Avenue 3/2 1,286 4,483 $1,810,000 $1,361 20 $1,900,000 10/11/23
2605 N Poinsettia Avenue 3/2 1,190 4,125 $1,700,000 $1,681 45 $2,000,000 09/15/23
3529 Palm Avenue 2/1 1,095 4,641 $1,500,000 $1,726 51 $1,999,900 09/14/23
2800 Oak Avenue 3/1 1,043 4,484 $1,676,000 $1,629 9 $1,699,000 09/12/23
2500 Pine Ave 3/2 1,299 4,480 $1,911,000 $1,539 25 $1,999,000 07/17/23
3108 Elm Avenue 2/1 823 4,481 $1,700,000 $2,023 3 $1,665,000 07/14/23
745 35th Street 3/2 1,637 5,406 $1,900,000 $1,161 N/A $1,900,000 06/15/23
1008 Rosecrans Avenue 3/2 1,797 5,078 $1,700,000 $945 13 $1,699,000 01/13/23

Hill Section (3)

ADDRESSBD/BASQFTLOTCLOSED PRICE$PSFDOMSTART $SOLD
304 Larsson Street 3/2 1,311 3,439 $1,806,750 $1,392 6 $1,825,000 08/21/23
616 N Poinsettia Avenue 3/2 1,600 3,251 $1,935,000 $1,313 23 $2,100,000 06/26/23
210 Larsson Street 3/2 1,340 5,158 $1,900,888 $1,481 3 $1,985,000 03/03/23

East Manhattan | Heights, Liberty Village (9)

ADDRESSBD/BASQFTLOTCLOSED PRICE$PSFDOMSTART $SOLD
1612 Magnolia Avenue 4/2 1,236 4,863 $1,675,000 $1,315 N/A $1,625,000 10/17/23
1905 Faymont Avenue 3/1 1,111 5,594 $1,751,000 $1,395 7 $1,550,000 08/03/23
1151 Magnolia Avenue 3/1 1,270 4,852 $1,615,000 $1,279 94 $1,775,000 07/26/23
1150 23rd Street 3/1 984 6,002 $1,780,000 $1,677 10 $1,650,000 07/14/23
1208 23rd Street 3/3 2,157 5,007 $1,900,000 $927 9 $2,000,000 07/13/23
1508 Lynngrove Drive 3/2 1,595 5,306 $1,715,000 $1,003 6 $1,599,000 05/31/23
1150 Magnolia Avenue 3/1 984 4,896 $1,350,000 $1,402 82 $1,380,000 05/18/23
1806 Marine Avenue 3/3 1,604 5,076 $1,880,000 $1,216 32 $1,950,000 03/24/23
1446 23rd Street 3/2 1,175 7,495 $1,930,000 $1,701 48 $2,399,000 01/11/23

East Manhattan | Mira Costa (12)

ADDRESSBD/BASQFTLOTCLOSED PRICE$PSFDOMSTART $SOLD
1807 9th Street 3/2 1,487 7,498 $1,937,500 $1,278 7 $1,900,000 11/09/23
1181 Shelley Street 3/2 1,566 5,341 $1,875,000 $1,232 7 $1,929,000 09/29/23
1853 5th Street 3/2 1,684 7,627 $1,900,000 $1,128 N/A $1,900,000 09/25/23
1210 Keats Street 3/2 1,278 5,345 $1,905,000 $1,487 15 $1,899,900 09/14/23
1467 5th Street 3/1 847 4,849 $1,600,000 $1,741 9 $1,475,000 07/31/23
1500 Voorhees Avenue 4/2 1,744 5,784 $1,732,500 $1,032 235 $1,825,000 06/05/23
1633 2nd Street 3/2 1,260 6,630 $1,750,000 $1,507 15 $1,899,000 04/24/23
1350 Curtis Avenue 3/1 1,051 6,304 $1,650,000 $1,570 10 $1,650,000 04/18/23
1346 Gates Avenue 3/1 1,099 5,150 $1,450,000 $1,388 5 $1,595,000 04/11/23
1130 2nd Street 3/2 1,540 7,875 $1,950,000 $1,220 8 $1,879,000 03/06/23
1544 Mathews Avenue 3/2 1,211 7,479 $1,650,000 $1,445 89 $1,850,000 01/09/23
1306 Voorhees Avenue 3/1 1,051 5,500 $1,500,000 $1,522 21 $1,650,000 12/20/22

So it turns out, the answer is: 32 times. There have been 32 sales so far this year of 3br+ SFRs under $2M. (You might note that there were zero in the Sand Section.)

There are only two 4-bedroom houses on this list, one being awkward 1500 Voorhees (no true primary bedroom, some living space that seemed to be a converted garage), and one lacking a true 4th bedroom at all (1612 Magnolia, which would require converting the dining room "back" to a bedroom to reach 4 again). 

Compare 1160 Shelley to its across-the-street neighbor, 1181 Shelley, and 1160 sure looks like the deal.

1181 Shelley Street, Manhattan Beach, CA

1181 Shelley was very dated inside, and featured a quirky layout, with a bedroom situated between two living room spaces. But that netted $1.875M.

Meantime, 1160 Shelley needs some stuff. A long-term rental, it has its share of things that could use a polish or an upgrade, but the kitchen is relatively newer, two large bedrooms connect in to a sizable, upgraded primary bath, and the third and fourth bedrooms are of decent size. Moreover, there really are 3 baths, a fairly rare find for this home size or at this price point. 

The last time a Mira Costa-area home dropped under $2M and looked like a deal, it was a strategic cut at 1504 Mathews (4br/3ba, 2024 sqft.) to $1.999M (after a way-too-high start at $2.590M). That bold cut actually resulted in a sale more than $100K higher at $2.105M. (See "Radical Price Chops Got It Sold.")

Looks like 1160 Shelley has made its move. Now it's up to the buyers. 


Please see our blog disclaimer.

Listings presented above are supplied via the MLS and are brokered by a variety of agents and firms, not Dave Fratello or Edge Real Estate Agency, unless so stated with the listing. Images and links to properties above lead to a full MLS display of information, including home details, lot size, all photos, and listing broker and agent information and contact information.

Based on information from California Regional Multiple Listing Service, Inc. as of May 27th, 2024 at 2:10am PDT. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.