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…
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. (There won't have a date even set for the hearing till late May.)
Now that $1.4M+ "overbid" price for a corner lot isn't looking so bad.
Within a couple days of each other, two more smaller Oak Ave. properties just closed for $1.410M each.
First came 2001 Oak (pictured), a 2br/1ba, 850 sqft. house that showed clean but obsolete.
You could do something with it, or build there.
Similarly, a larger home at 2209 Oak (3br/2ba, 1175 sqft.) showed clean, and is a bit bigger than 2001 Oak, but was mostly original. You could do something, or build.
Same price: $1.410M.
It's quite something to see on this peripheral street where land and home values are always lower than in typical Tree Section locations.
When Oak values hit these levels, it means the balance of Manhattan Beach Tree Section real estate is rising even more.
By the time they hold that hearing on the auction house, where might it settle? Here's hoping that auction "winner" isn't feeling too attached.
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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 March 18th, 2024 at 11:30pm 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.