More $3M+ Sales, and Asks, in East MB

By Dave Fratello | June 26th, 2018

The trend toward $3-million-dollar-plus asking prices and sales over $3M continues East of Sepulveda.

1616 Gates Avenue Manhattan Beach CAThere are 5 such sales over $3M this year already. Of those, 4 were new construction, and 1 was a resale.*

That resale was huge 1616 Gates (5br/6ba, 5070 sqft.), a 2008 build that just closed for $3.050M. (It's pictured here.)

This year's sales bring to 34 the total number of sales in East Manhattan Beach over $3M for homes on standard-sized lots (they span 6600 sqft.-8500 sqft.). A 35th such 3+ sale is on a 9500+ sqft. lot, while other, higher sales featured much larger lots.

Look at all the data on those 34-35 sales, and one conclusion is pretty obvious: Most $3M+ sales are new homes that have never been lived in, just like with most $3M+ sales this year.

(Our asterisk* above is a reference to how we counted 1561 Mathews [$3.100M] as new construction, though it sold in Feb. 2018 with a 2014 build date. It had a long history of not selling before that, then sold in late 2016 but no one moved in before this year's resale. Part of the appeal was that it was untouched.)

We looked at data on $3M+ sales on the east side some months ago, in late 2017. Our post had a good, descriptive title: "Many More $3M+ Sales in East MB in 2017." (There's a lot of data in that post, too.)

We made something of an amazing finding: Before 2017, there were 14 sales of $3M or more. In calendar year 2017, there were 15.

So the total more than doubled just last year. (Again, we're focused on $3M+ sales in East Manhattan Beach on typical-size lots.)

With that kind of momentum, of course people are going to try for $3M or so this year.

Two active listings are asking $3M or more, and they're both resales:

1210 10th Street Manhattan Beach CA1210 10th (4br/5ba, 4480) is a 1994 build that's clean but could use some updates.

There's a lot of space, though its split-level living spaces have fallen out of favor.

It's got a pool and a position up on the 10th St. hill that's very favorable, with some nice neighborhood views from the back of the home.

1210 10th began at $3.295M in May.

It has cut $150K to $3.145M as it concludes its second month on market.

1450 5th Street Manhattan Beach CALast week, 1450 5th (6br/5ba, 4300 sqft.) debuted at $3.695M.

It's a 2001 build in a good location with some polish to it, although it appears most of the stylistic updating was done before a 2012 sale, not too much more recently.

Sales, this one's had a few:

2004: $2.160M

2011: $2.070M

2012: $2.490M (after remodel)

2015: $2.960M

Time for another?

So, maybe we've got you wondering about what all those $3M+ East Manhattan sales have looked like.

Below is the complete list, with the newest sales shown first. One 2007 sale doesn't show and for some reason, 1161 9th (2017) doesn't right now, so use the link here from the address to see it.

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All East Manhattan Beach Sales Over $3M (Standard-Sized Lots)

Address 1226 3rd Street BD/BA 6br/5ba SQFT 4000 sqft LOT 6269 PRICE $3,550,000 $PSF $888 DOM 11 DOM SOLD SOLD 02/13/20 START $ $3,590,000 START 02/13/20
Address 1607 Nelson Avenue BD/BA 5br/7ba SQFT 4400 sqft LOT 7497 PRICE $3,725,000 $PSF $847 DOM 39 DOM SOLD SOLD 02/07/20 START $ $3,950,000 START 02/07/20
Address 1751 8th Street BD/BA 6br/6ba SQFT 5826 sqft LOT 7500 PRICE $4,855,000 $PSF $833 DOM 83 DOM SOLD SOLD 01/15/20 START $ $5,400,000 START 01/15/20
Address 1622 6th Street BD/BA 4br/5ba SQFT 4374 sqft LOT 7501 PRICE $3,600,000 $PSF $823 DOM 0 DOM SOLD SOLD 12/09/19 START $ $3,600,000 START 12/09/19
Address 1761 11th Street BD/BA 5br/5ba SQFT 3599 sqft LOT 6442 PRICE $3,330,000 $PSF $925 DOM 20 DOM SOLD SOLD 09/20/19 START $ $3,395,000 START 09/20/19
Address 1450 5th Street BD/BA 6br/5ba SQFT 4317 sqft LOT 7504 PRICE $3,350,000 $PSF $776 DOM 78 DOM SOLD SOLD 09/20/19 START $ $3,649,000 START 09/20/19
Address 1450 23rd Street BD/BA 5br/7ba SQFT 4755 sqft LOT 7493 PRICE $3,650,000 $PSF $768 DOM 50 DOM SOLD SOLD 08/01/19 START $ $3,799,000 START 08/01/19
Address 1540 1st Street BD/BA 5br/6ba SQFT 4525 sqft LOT 7509 PRICE $3,650,000 $PSF $807 DOM 84 DOM SOLD SOLD 07/24/19 START $ $3,650,000 START 07/24/19
Address 1755 8th Street BD/BA 5br/8ba SQFT 4836 sqft LOT 7502 PRICE $4,465,000 $PSF $923 DOM 15 DOM SOLD SOLD 07/19/19 START $ $4,550,000 START 07/19/19
Address 1643 8th Street BD/BA 5br/6ba SQFT 4836 sqft LOT 7500 PRICE $4,150,000 $PSF $858 DOM 65 DOM SOLD SOLD 07/12/19 START $ $4,199,000 START 07/12/19
Address 1436 23rd Street BD/BA 6br/7ba SQFT 4550 sqft LOT 7498 PRICE $3,825,000 $PSF $841 DOM 0 DOM SOLD SOLD 07/05/19 START $ $3,825,000 START 07/05/19
Address 1320 9th Street BD/BA 6br/7ba SQFT 4900 sqft LOT 7512 PRICE $4,250,000 $PSF $867 DOM 6 DOM SOLD SOLD 06/12/19 START $ $4,250,000 START 06/12/19
Address 1900 Lynngrove Drive BD/BA 5br/6ba SQFT 3584 sqft LOT 5808 PRICE $3,125,000 $PSF $872 DOM 9 DOM SOLD SOLD 04/23/19 START $ $3,150,000 START 04/23/19
Address 1131 6th Street BD/BA 5br/5ba SQFT 5022 sqft LOT 7501 PRICE $3,800,000 $PSF $757 DOM 8 DOM SOLD SOLD 04/12/19 START $ $3,899,000 START 04/12/19

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