Recently we got a somewhat desperate message from a buyer: Is there any chance we can get into Manhattan Beach west of Sepulveda under $1.5M?
This came near the culmination of a long and fruitless search for properties in that price range.
The reluctant reply: No, not really. You'll have to compromise on…
Recently we got a somewhat desperate message from a buyer: Is there any chance we can get into Manhattan Beach west of Sepulveda under $1.5M?
This came near the culmination of a long and fruitless search for properties in that price range.
The reluctant reply: No, not really. You'll have to compromise on location or price.
As is so often the case in this market, those buyers wound up compromising on both.
But (the good news) they did make a deal west of the highway.
As we write today, there are only 2 SFRs west of Sepulveda active under $1.5M:
3601 N. Poinsettia (3br/1ba, 1070 sqft.), a small and largely original cottage with a few obvious liabilities, not least the shared driveway.
The location is way over by Rosecrans in the Tree Section.
Asking price: $1.375M.
2701 Oak (2br/1ba, 900 sqft.) is a 4480 sqft. corner lot that's up for overbidding now after an initial auction had set the lot value at $1.340M.
The first overbid in a court hearing this Summer must be at least $1.407M. There are already new Oak Ave. comps to support that price.
Those are your options today under $1.5M.
All year here in 2015, there have been just 11 sales of SFRs west of Sepulveda below $1.5M. Here they are:
1 was a small, updated house on a half-lot on on alley in the Sand Section (532 5th Place at $1.349M) (pictured).
- 1 was a small, original house on a tiny lot on Valley in the Tree Section (2801 Valley at $985K); and
- 1 was a duplex on a half lot in El Porto, near Highland (217 Kelp at $1.430M).
In each case, you could say the buyers compromised, at the very least, on location – but at least they did get in west of the highway.
In 2014, a total of 36 SFRs west of Sepulveda in Manhattan Beach traded for $1.5M or less.
Near mid-year, here, it looks like 2015 won't come near that total.
Please see our blog disclaimer.
Listings presented above are supplied via the MLS and are brokered by a variety of agents and firms, not Dave Fratello or Edge Real Estate Agency, unless so stated with the listing. Images and links to properties above lead to a full MLS display of information, including home details, lot size, all photos, and listing broker and agent information and contact information.
Based on information from California Regional Multiple Listing Service, Inc. as of April 1st, 2023 at 4:00am PDT. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
