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 BD/BA SQFT LOT PRICE $PSF DOM START $ START
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
Address 2104 Magnolia Avenue BD/BA 5br/5ba SQFT 3599 sqft LOT 6170 PRICE $3,100,000 $PSF $861 DOM 0 DOM SOLD SOLD 01/10/19 START $ $3,100,000 START 01/10/19
Address 1520 Gates Avenue BD/BA 6br/7ba SQFT 6028 sqft LOT 7510 PRICE $3,675,000 $PSF $610 DOM 48 DOM SOLD SOLD 01/08/19 START $ $3,795,000 START 01/08/19
Address 1446 18th Street BD/BA 5br/6ba SQFT 4712 sqft LOT 7022 PRICE $3,850,000 $PSF $817 DOM 79 DOM SOLD SOLD 10/24/18 START $ $4,075,000 START 10/24/18
Address 1721 8th BD/BA 6br/6ba SQFT 4480 sqft LOT 8750 PRICE $3,950,000 $PSF $882 DOM 0 DOM SOLD SOLD 10/10/18 START $ $3,999,000 START 10/10/18
Address 1544 Voorhees Avenue BD/BA 6br/6ba SQFT 5200 sqft LOT 7498 PRICE $3,175,000 $PSF $611 DOM 15 DOM SOLD SOLD 08/31/18 START $ $3,120,000 START 08/31/18
Address 1616 Gates Avenue BD/BA 5br/6ba SQFT 5071 sqft LOT 7508 PRICE $3,050,000 $PSF $601 DOM 35 DOM SOLD SOLD 06/20/18 START $ $3,299,000 START 06/20/18

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