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Prime Dirt Doesn't Just Sit There

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by Dave Fratello

708 8th Street, Manhattan Beach,

Everyone says they want a big Hill Section lot with ocean views and walkability to town. 

(Oh, you thought you were unique?)

Over these past few weeks, 708 8th has been available. 

First, there was the rumble of rumor and pre-marketing. (Would they really ask $14M?)

Next, it was about 2 weeks of "Coming Soon" marketing. The listing was visible in the MLS, and on some (but not all) websites, but not technically available for showings. (That's an MLS rule.)

Finally, 10 days ago the listing was active on the MLS, there were open houses, and the game was on.

They were asking $12.500M. 

Now, it's in escrow.

(708 8th is listed by Dave Caskey, eXp Realty of California Inc.)

Just last week we referred to 708 8th as "arguably the last great view lot in the Hill Section available for redevelopment."

708 8th Street, Manhattan Beach, Of course, we know by now that in the primest of prime spots in the Hill Section, along John and Pacific, in particular, almost no home is safe. If it was designed and built more than 20 years ago, without the style preferences of modern no-budget buyers, any house could be bulldozer bait.

But the house at 708 8th is quite obviously not going to survive, which is why we characterized the offering the way we did.

As a reminder, it was only back in February this year when a nearby corner lot at 811 6th sold for $11.100M, with multiple offers chasing the ocean-view location, driving the price up from $9.750M.

For a little while, it was so easy to calculate prime Hill Section land values: A number of sales of 10K sqft. lots sold for $10M, which your 3rd-grader knows will translate cleanly to $1,000/PSF for dirt. 

Alas... inflation. 

The asking for 708 8th was actually a trifle over $1,250/PSF for land, and who knows where it goes from there?

Top-tier buyers who can chase this sort of plot have been spending time with architects and engineers to map out potential projects before bidding.

No new house on this site will be remotely cheap. Can you build new on a $12M lot for less than $12M? Should you?

Hill Section, you'll have a new record soon.

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The "last weekend of Summer" brings new options in the Trees, close to the water and over on the east side as well. See all the week's new listings here, along with photos, details and open house info for these and everything in the Manhattan Beach market.

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 August 16th, 2026 at 10:02pm 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.