lot values

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Let's face it.

As nice as Manhattan Beach is, not every property here is beautiful.

Not every location is awesome, just because it comes with our ZIP code.

But still, if someone's gonna sell, someone's gonna buy. Folks just need to work out the math on what a challenging location really means to the overall value.

We're thinking of that with respect to 3 recent offerings in the North End of the Sand Section.

Just short of Rosecrans, you have:

462 36th Place (2br/2ba, 1150 sq. ft.) is one of the more awkward remodels we've seen in recent years.

You have to give credit for how some past owner tried to add square footage on this smaller-than-half-lot plot of 1267 sq. ft., by building up 3 stories on part of the property. There's a little tower that…

To judge by the most recent closed sales come in, you'd think no one knows how to price a house anymore.

We've seen markets where nearly every listing price seemed to be an overreach. Today, start prices seem to be literally just the starting points. Consider these very recent closings:

510 23rd (4br/4ba, 3200 sq. ft.) is a 2009-built Spanish in the gaslamp district.

Start Price: $2.699M

Sold Price: $2.826M

Amount Over Asking: +$127K / +4%

Note: That result was different from when the same home debuted back in 2008-09. It ran 7 months on market and sold for 16% under the asking price way-back-when, the year your kindergartner was born.

1901 Lynngrove (3br/1ba, 1100 sq. ft.) is a mostly original corner-lot cottage in Liberty Village. The home has

Late last year, we took note of one sale just east of Highland in the teen walkstreets that radically raised the bar.

The value of a standard-size lot on the small stretch between 16th-20th St. had never, historically, hit the 3's... until the sale at 309 18th at $3.250M just before Thanksgiving. Really, values had never been close.

Now, raising the bar higher: 313 17th St., posting a sale at $3.500M.

Like 309 18th, the sale was arranged off-market late last year. Unlike 309 18th, the sale was not posted to the MLS. So, to date, this sale has been known mostly just to neighbors and the real estate community.

(Disclosure: Dave counseled the seller, but did not participate in the sale of 313 17th. Also, the legal address is 312 17th Place.)

There's a…

Back a bit before Christmas, we tried to calm MBC readers who were thinking that the the ocean-view lot at 864 5th in the Hill Section might be selling for less than $2M. Such a deal?

In "No, That's Not a Lot Under $2M," we pointed out that the active listing price of $1.949M had already been exceeded in a first-round bidding war.

The price had settled around $2.6M, but that was pending an all-important "court confirmation" with a potential for overbids in court.

That court hearing happened Jan. 23, and overbidding happened there.

The closed sale has now posted: $2.900M. That's for a 5700 sq. ft. lot that gets some views from front and back (that photo's from the back deck of the current structure).

Next stop: New construction. And do you even want to…