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Little, Old Houses Are Hot

In a time of still-limited inventory of homes for sale, there seems to be a certain type of property that's dominant.

It's the little, old house. Maybe it's original, maybe spiffed up a bit.

They're not all selling for land value, either.

Consider just a few to recently go into escrow:

1600 21st Street, Manhattan Beach,

1600 21st (3br/2ba, 1209 sqft.) lasted just a full week on the market, asking $2.000M.

It's just 1200 sqft. of living space, using up most of the 5000 sqft. lot. 

At least here, there has been some remodeling work in recent years, so the kitchen is fairly modern, while the baths are upgraded.

(1600 21st Street is listed by Ray Joseph, Radius Agent Realty.)

1616 18th Street, Manhattan Beach,  

1616 18th (3br/2ba, 1356 sqft.) is a neighbor, only ever-so-slightly larger than 1600 21st.

It's distinguished in part because it actually has a real backyard, albeit one that looks right onto the playing fields of the middle school. The lot size is a bit smaller than some others, at 4887 sqft.

Needing upgrades and asking $1.799M, it lasted a few weeks.

(1618 18th is listed by Colleen McGuire, Re/Max Estate Properties.)

2209 Oak Avenue, Manhattan Beach,

2209 Oak (3br/2ba, 1175 sqft.) is a small one in the Tree Section, with some upgrades to the kitchen and baths.

It didn't exactly fly off the shelves, requiring listings both in 2023 and 2024, but it did go into escrow recently, last at $1.899M.

(2209 Oak is listed by Rob McGarry, Vista Sotheby’s International Realty.)

Those are just a few of the recent deals, but if you're tracking the market, you're seeing the same thing.

So, is everyone downsizing?

Are all of these buyers going to add on?

Is the world just going to be smaller in the future?

The most obvious reasons these homes are selling is because they're available, and among the lowest-priced inventory you'll find in Manhattan Beach.

At a time of limited inventory and challenges to affordability, that's what should happen.

We're still trying to figure out where people are going to put all their stuff.

Mental note: Invest in self-storage businesses around Manhattan Beach.

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 April 27th, 2024 at 3:50am 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.