Look at Larsson Selling

By Dave Fratello | September 29th, 2020

It's often the Hill Section's most affordable street. Now it's seeing some action.

Larsson is the first street in, west of Sepulveda, running just a few blocks from 2nd to 8th St. 

One reason the street can have some of the lowest prices in the Hill Section is that it features quite a few skinnier lots, just 25' wide, with total lot square footage in the mid-3000s. Smaller lot, smaller house, lower price.

Also, the proximity to Sepulveda tends to lessen values in comparison with interior streets.

There are pluses. Some lots high up near 2nd have incredible, unblocked views to the east, with plenty in view to the north (downtown LA) and even toward the south (Port of Los Angeles, on a clear day).

There's Larsson Parkette, a little community park with some grass, playground equipment, basketball hoop and picnic tables. (In the olden days, we held kids' b-day parties there.)

And these days, there's the new luxe supermarket that replaced a former car sales and car repair lot between 6th and 8th on Sepulveda, a close walk for any Larsson resident. Ooooooh how some neighbors fought the market, fearing extra traffic and employee parking would make life difficult. They got concessions and now you have to see the market as a neighborhood asset. It is always nice to be able to take a quick walk to the store for some little essential item, or for a full shopping trip. (MBC HQ is nearby as well.)

Now, in less than a year, 3 sizable homes have sold on Larsson - one twice within the year.

The latest sale is at 601 Larsson (4br/4ba, 3700 sqft.), a remodeled traditional home on a corner lot.

It's got a ton of curb appeal, nice landscaping, very modern kitchen etc. and a sizable, grassy backyard - not bad for a 5500 sqft. lot.

Put this home someplace in the Trees, it'll be near $3.5M.

Put it two blocks west in the Hill Section, it will be near $4.0M.

They launched at $3.495M, but have just closed for $3.200M.

Many moons ago, the property was on the MBC radar, appearing in several posts after the 2005 buyer tried to resell for a huge markup, including on Craigslist, but wound up selling it in late 2007 as a short sale. (Records suggested that bubble lender Countrywide had issued 100% financing on the '05 purchase. Whoops.)

508 Larsson Street Manhattan Beach CALate last year, the Edge office sold our listing at 508 Larsson (5br/6ba, 4680 sqft.).

This large and highly customized, over-engineered property features huge common spaces, indoor/outdoor living and a pool, hot tub and cabana.

We did need to try a few times, but we found a match last year and sold the property for $3.275M.

You know how during stay-at-home and quasi quarantines, all the shortcomings of your home have been exposed? It's kind of the opposite for the buyers of 508 Larsson. No one was planning on getting stuck indoors for months, but this was a bit of a dream house if you were going to be confined to your own 4 walls (and yard).

709 Larsson Street Manhattan Beach CAAnd then we look to 709 Larsson (4br/4ba, 3400 sqft.), a nice 2014 Cape Cod with a pool.

This one has sold twice in a year, three times since July 2018. The sales:

July '18: $3.100M

Dec. '19: $2.895M

Sept. '20: $3.087M

The first sale price resulted from a bidding war. The home sold $150K over asking.

Then it sold $205K under acquisition.

Now, upon resale, it's seen a gain of $192K, making back most of its apparent market value from mid-2018.

We don't need to discuss or speculate upon the various sellers' reasons for getting out of the house. It's got obvious charms, and an obvious location issue, facing the back of that new luxe supermarket we mentioned up above. We'll simply assume that life happened and changes had to be made. (There's a lot of that going around.)

1033 8th Street Manhattan Beach CANot exactly on Larsson, one more sale might still fit in this discussion.

1033 8th (4br/5ba, 3600 sqft.) recently closed in an off-market sale for $3.250M.

Its location is almost exactly at the far northern end of Larsson, right off the corner of that market.

This 2016 build was one of three in a row that debuted at $3.650M in mid-2016. All three wound up as high-end rentals instead, fetching around $10K/mo.

To our knowledge, this is the first one to sell. (Tax records are oddly missing.)

The 8th St. sale underscores the basic point. With Larsson or adjacent locations, one can get more for the money in the Hill Section.

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