Rarity: Under $2M in the Tree Section

By Dave Fratello | February 13th, 2018

2512 Pine Avenue Manhattan Beach CAOne recent listing to command a lot of buyer attention is 2512 Pine (4br/4ba, 3150 sqft.).

It's a Tree Section custom home built in the 1980s and recently refreshed for market, though not, strictly speaking, "remodeled."

Of this home, we said on the blog over the weekend, "Most of the home is original and could benefit from updates, but it makes a very good first impression thanks to all new wide-plank, lightly stained wood flooring (except kitchen) and fresh white paint just about everywhere."

So the home's reasonably attractive, but here's the grabber: A start price of $1.899M.

That's $602/PSF west of Sepulveda, and that just doesn't happen much.

Last year, there was 2204 Oak (3br/3ba, 3235 sqft.), a very dated home on the "wrong" (commercial) side of Oak backing up to new construction (medical building) and alongside a parking lot. It sold for $1.715M and $530/PSF. Meantime, 3600 Pacific (4br/3ba, 3300 sqft.) traded for $2.000M and $607/PSF.

After those sales, you're pretty much into the $700/PSF range then up to the $900s and above.

There were only 42 sales of single-family homes in the Tree Section last year under $2M, out of 118 sales total, meaning 64% of the sales in the Trees went for more than $2M.

Now, from those 42 sales, remove the homes on Oak, Rosecrans, Marine, Valley, Ardmore, Blanche and Pacific (the busiest and/or most challenging streets), and take out one more with a half lot, and there were just 20 sales under $2M in the Trees without obvious location issues impacting values. (That location consideration took out more than half the sales.)

Out of those remaining sales, the "largest" homes were just 2440 and 2350 sqft. inside, dated, and sold for $1.850M each. (3208 Pine and 2618 Laurel.)

This all helps to give you some picture of how rare a home like 2512 Pine really is - an interior location with a bunch of square footage.

So, have buyers noticed? Sure.

Whether it's instinctive or a result of by-the-numbers calculations like we're offering here, people see the opportunity for what it is.

Now the questions become: Who wants it most, and what will they pay?

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For your own research/evaluation purposes, below is a list of all 2017 sales in the Tree Section under $2M, sorted by latest sale first. (Email subscribers will need to view the post online to see all of the listings.)

Tree Section Sales Under $2M in 2017

Click any property photo or address to see full details online.

ADDRESS BD/BA SQFT LOT PRICE $PSF DOM START $ START
Address 2722 N Ardmore Avenue BD/BA 3br/2ba SQFT 1495 sqft LOT 5010 PRICE $1,850,000 $PSF $1,237 DOM 0 DOM SOLD SOLD 12/15/17 START $ $1,850,000 START 12/15/17
Address 2416 Pine Avenue BD/BA 2br/1ba SQFT 1029 sqft LOT 5057 PRICE $1,545,000 $PSF $1,501 DOM 19 DOM SOLD SOLD 11/09/17 START $ $1,549,000 START 11/09/17
Address 700 Rosecrans Avenue BD/BA 3br/2ba SQFT 1278 sqft LOT 4340 PRICE $1,250,000 $PSF $978 DOM 6 DOM SOLD SOLD 11/08/17 START $ $1,249,000 START 11/08/17
Address 2500 Oak Avenue BD/BA 3br/2ba SQFT 1532 sqft LOT 4494 PRICE $1,300,000 $PSF $849 DOM 137 DOM SOLD SOLD 10/23/17 START $ $1,599,000 START 10/23/17
Address 3208 Pine Avenue BD/BA 3br/3ba SQFT 2443 sqft LOT 7019 PRICE $1,850,000 $PSF $757 DOM 358 DOM SOLD SOLD 10/20/17 START $ $2,600,000 START 10/20/17
Address 665 33rd Street BD/BA 3br/3ba SQFT 2188 sqft LOT 5390 PRICE $2,018,194 $PSF $922 DOM 15 DOM SOLD SOLD 10/04/17 START $ $1,775,000 START 10/04/17
Address 2704 Oak Avenue BD/BA 3br/3ba SQFT 2177 sqft LOT 4481 PRICE $1,500,000 $PSF $689 DOM 6 DOM SOLD SOLD 09/29/17 START $ $1,499,000 START 09/29/17
Address 3619 N Poinsettia Avenue BD/BA 3br/3ba SQFT 1329 sqft LOT 5297 PRICE $1,550,000 $PSF $1,166 DOM 12 DOM SOLD SOLD 09/26/17 START $ $1,495,000 START 09/26/17
Address 1204 Elm Avenue BD/BA 3br/3ba SQFT 2309 sqft LOT 4479 PRICE $1,825,000 $PSF $790 DOM 93 DOM SOLD SOLD 09/20/17 START $ $2,100,000 START 09/20/17
Address 856 14th Street BD/BA 3br/2ba SQFT 1454 sqft LOT 5014 PRICE $1,600,000 $PSF $1,100 DOM 6 DOM SOLD SOLD 09/14/17 START $ $1,645,000 START 09/14/17
Address 2312 Elm Avenue BD/BA 3br/2ba SQFT 1472 sqft LOT 4480 PRICE $1,760,000 $PSF $1,196 DOM 1 DOM SOLD SOLD 09/01/17 START $ $1,760,000 START 09/01/17
Address 3116 Oak Avenue BD/BA 2br/1ba SQFT 1286 sqft LOT 4480 PRICE $1,463,300 $PSF $1,138 DOM 37 DOM SOLD SOLD 08/25/17 START $ $1,495,000 START 08/25/17
Address 2204 Oak Avenue BD/BA 3br/3ba SQFT 3236 sqft LOT 4482 PRICE $1,715,000 $PSF $530 DOM 7 DOM SOLD SOLD 08/08/17 START $ $1,599,000 START 08/08/17
Address 645 Marine Avenue BD/BA 3br/1ba SQFT 1061 sqft LOT 4411 PRICE $1,935,000 $PSF $1,824 DOM 9 DOM SOLD SOLD 07/17/17 START $ $1,850,000 START 07/17/17
Address 1829 Oak Avenue BD/BA 3br/2ba SQFT 1400 sqft LOT 4680 PRICE $1,725,000 $PSF $1,232 DOM 37 DOM SOLD SOLD 07/10/17 START $ $1,849,000 START 07/10/17
Address 742 29th Street BD/BA 3br/2ba SQFT 1198 sqft LOT 4802 PRICE $2,118,000 $PSF $1,768 DOM 6 DOM SOLD SOLD 07/06/17 START $ $1,899,000 START 07/06/17
Address 1601 Oak Avenue BD/BA 3br/3ba SQFT 1988 sqft LOT 4201 PRICE $1,725,000 $PSF $868 DOM 25 DOM SOLD SOLD 06/29/17 START $ $1,750,000 START 06/29/17
Address 3211 N Valley Drive BD/BA 3br/2ba SQFT 1461 sqft LOT 2500 PRICE $1,650,000 $PSF $1,129 DOM 3 DOM SOLD SOLD 06/27/17 START $ $1,599,000 START 06/27/17
Address 1501 Elm Avenue BD/BA 2br/1ba SQFT 1006 sqft LOT 4201 PRICE $1,505,000 $PSF $1,496 DOM 33 DOM SOLD SOLD 06/22/17 START $ $1,550,000 START 06/22/17
Address 2615 Palm Avenue BD/BA 2br/1ba SQFT 890 sqft LOT 4643 PRICE $1,750,000 $PSF $1,966 DOM 22 DOM SOLD SOLD 06/19/17 START $ $1,425,000 START 06/19/17
Address 1512 N Ardmore Avenue BD/BA 2br/2ba SQFT 1032 sqft LOT 3884 PRICE $1,840,000 $PSF $1,783 DOM 4 DOM SOLD SOLD 06/15/17 START $ $1,699,000 START 06/15/17
Address 3309 Pine Avenue BD/BA 3br/2ba SQFT 1510 sqft LOT 4641 PRICE $1,525,000 $PSF $1,010 DOM 21 DOM SOLD SOLD 06/09/17 START $ $1,399,000 START 06/09/17
Address 605 36th Street BD/BA 4br/3ba SQFT 2029 sqft LOT 5404 PRICE $1,905,000 $PSF $939 DOM 6 DOM SOLD SOLD 06/06/17 START $ $1,649,000 START 06/06/17
Address 1900 Elm Avenue BD/BA 3br/2ba SQFT 1647 sqft LOT 4481 PRICE $1,650,000 $PSF $1,002 DOM 66 DOM SOLD SOLD 05/31/17 START $ $1,749,000 START 05/31/17
Address 1412 Elm Avenue BD/BA 3br/3ba SQFT 1844 sqft LOT 4205 PRICE $2,000,000 $PSF $1,085 DOM 15 DOM SOLD SOLD 05/26/17 START $ $2,000,000 START 05/26/17
Address 2601 Walnut Avenue BD/BA 3br/2ba SQFT 1922 sqft LOT 4486 PRICE $1,975,000 $PSF $1,028 DOM 19 DOM SOLD SOLD 05/25/17 START $ $1,995,000 START 05/25/17
Address 3304 Maple Avenue BD/BA 3br/2ba SQFT 1059 sqft LOT 4639 PRICE $1,643,000 $PSF $1,551 DOM 3 DOM SOLD SOLD 05/22/17 START $ $1,699,000 START 05/22/17
Address 3308 Pine Avenue BD/BA 3br/2ba SQFT 1403 sqft LOT 4637 PRICE $1,750,000 $PSF $1,247 DOM 11 DOM SOLD SOLD 05/05/17 START $ $1,650,000 START 05/05/17
Address 722 Rosecrans Avenue BD/BA 2br/1ba SQFT 880 sqft LOT 3695 PRICE $1,140,000 $PSF $1,295 DOM 140 DOM SOLD SOLD 04/28/17 START $ $1,195,000 START 04/28/17
Address 2618 Laurel Avenue BD/BA 5br/3ba SQFT 2350 sqft LOT 4640 PRICE $1,850,000 $PSF $787 DOM 12 DOM SOLD SOLD 04/20/17 START $ $1,899,000 START 04/20/17
Address 2603 Pacific Avenue BD/BA 3br/2ba SQFT 1457 sqft LOT 4484 PRICE $1,650,000 $PSF $1,132 DOM 11 DOM SOLD SOLD 04/18/17 START $ $1,650,000 START 04/18/17
Address 1813 Oak Avenue BD/BA 3br/1ba SQFT 1007 sqft LOT 4486 PRICE $1,450,000 $PSF $1,440 DOM 112 DOM SOLD SOLD 04/12/17 START $ $1,499,000 START 04/12/17
Address 3513 Elm Avenue BD/BA 4br/2ba SQFT 1300 sqft LOT 4642 PRICE $1,540,000 $PSF $1,185 DOM 21 DOM SOLD SOLD 04/12/17 START $ $1,195,000 START 04/12/17
Address 910 14th Street BD/BA 3br/3ba SQFT 1579 sqft LOT 2239 PRICE $1,550,000 $PSF $982 DOM 71 DOM SOLD SOLD 03/09/17 START $ $1,599,000 START 03/09/17
Address 664 Rosecrans Avenue BD/BA 2br/2ba SQFT 800 sqft LOT 3664 PRICE $1,075,000 $PSF $1,344 DOM 66 DOM SOLD SOLD 02/24/17 START $ $1,150,000 START 02/24/17
Address 1410 N Ardmore Avenue BD/BA 4br/3ba SQFT 1605 sqft LOT 4068 PRICE $1,565,000 $PSF $975 DOM 14 DOM SOLD SOLD 02/17/17 START $ $1,599,000 START 02/17/17
Address 3508 N Poinsettia Avenue BD/BA 5br/3ba SQFT 2265 sqft LOT 4640 PRICE $1,586,000 $PSF $700 DOM 68 DOM SOLD SOLD 02/07/17 START $ $1,625,000 START 02/07/17
Address 1149 Elm Avenue BD/BA 4br/3ba SQFT 1370 sqft LOT 4485 PRICE $1,430,000 $PSF $1,044 DOM 182 DOM SOLD SOLD 02/03/17 START $ $1,629,000 START 02/03/17
Address 653 27th Street BD/BA 4br/2ba SQFT 1928 sqft LOT 4801 PRICE $1,650,000 $PSF $856 DOM 94 DOM SOLD SOLD 01/31/17 START $ $1,799,000 START 01/31/17
Address 2416 Pine Avenue BD/BA 2br/1ba SQFT 1029 sqft LOT 5057 PRICE $1,250,000 $PSF $1,215 DOM 28 DOM SOLD SOLD 01/18/17 START $ $1,299,900 START 01/18/17
Address 1820 Pine Avenue BD/BA 2br/1ba SQFT 852 sqft LOT 4480 PRICE $1,332,000 $PSF $1,563 DOM 13 DOM SOLD SOLD 01/05/17 START $ $1,399,000 START 01/05/17

 

 

 

 

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