lot values

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When all is said and done at 217 27th, and we mean way down the road, you can expect to see a new landmark for midtown Manhattan Beach.

Looming over Bruce's Beach park, the current, obsolete structure gets pretty terrific views.

The next structure is sure to be designed to rock it.

We realize that this little 400-pixel image of the views (or a smaller image, on your phone) isn't able to convey much. But trust us.

If you know Manhattan Beach, if you know ocean views, if you know Bruce's Beach Park and its expansive, wide-open ocean views, and if you know the value of all these things combined, it's rather easy to see why elite money – big dollars – would chase this particular plot.

The potential for a new home with unobstructable views is unlimited.

Oak, Oak, Oak.

It's been a busy year on Oak Ave. in Manhattan Beach already, and little, scrapable homes have been dominating the headlines.

2701 Oak (2bd/1ba, 900 sqft.) was recently auctioned off on Sunday, April 19, right at the property. 

The winning bidder offered $1.340M.

That was a tick above an extremely recent sold comp: A smaller lot (4200 sqft.), not on a corner, at 1405 Oak had just closed the week before for $1.300M.

But hold your horses – 2701 Oak isn't done yet.

It's still got to go to a court "confirmation" hearing where there can be overbids. Indeed, you'll see 2701 Oak listed now as "active" with an asking price of $1,407,500.

That's the first minimum overbid that a buyer would have to bring to a court hearing later this year.…

The masses gathered, $5,000 cashiers' checks in hand. 

2701 Oak (2bd/1ba, 900 sqft.), a corner lot on the "right" side of Oak, needed a new owner. All the hopefuls came ready to play.

The jokey $799K start price was there merely in place to fulfill a requirement that an MLS-listed property have some kind of pricetag on it.

The auction, however, set the market level: $1,340,000.

That's reasonably in line with an extremely recent comp: A lot sale at 1405 Oak, listed for $1.249M, drew multiple offers and closed last week for $1.300M.

And 1405 Oak lacked the corner location and boasted only 4200 sqft. of land, 280 sqft. less than 2701 Oak. Clearly 2701 was worth more.

Next stop for 2701 Oak: A court confirmation process. This could result in an overbid,…

If you're looking for a home or a lot in East Manhattan Beach, that's probably because you want one of those larger 7500 sq. ft. lots that are relatively standard east of Sepulveda. 

With one of those big 50 x 150 lots, you can build well over 4000 square feet of house without digging a basement, and still end up with a sizable yard.

The question is, what's that big lot going to cost you?

Like everything, East MB lots are now getting much more expensive.

There are 2 next-door neighbors really far east that have both just sold and seemed to raise the bar for land values.

1721 Gates (pictured) sold in March right at the asking price of $1.400M. Though it's east of Redondo Ave. and just about a dozen homes up off of Aviation, the lot is almost perfectly