Roof Deck Takes Price Higher

By Dave Fratello | May 5th, 2014

The fuddy-duddies in the halls of the city government decided, at some point, that roof decks are not to be allowed in Manhattan Beach anymore.

We're sure they had their reasons, as did the lawyers and insurance companies warning everyone against permitting epic views and roof-deck parties.

The net effect of a new regulation like that is always to do what? To make properties built prior to the regulation more valuable, of course. (Good job, class, you've been paying attention.)

The first home we've seen on the market in a while to have a roof deck was 648 12th St. (4br/3ba, 3065 sq. ft.) in the Martyrs hill area near downtown. It has now sold for what looks like a premium at $2.160M.

And why might that be? We're betting on the roof deck.

We had clients looking at this one and found it nearly impossible to comp out directly. There are much older houses, smaller houses and lot sales in the general area that you can point to for reference – but nothing precisely on point.

The floorplan features 3br downstairs, including a somewhat dark but large master in back, then upstairs, 2 living rooms, formal dining and a bedroom/office. Nothing except the kitchen was very updated, so our clients were mentally calculating the costs of remodeling bathrooms, at least.

But while you're doing that math, you just keep coming back to the roof deck. It's irreplaceable. The position on the hill for this home is optimal, almost at the crest. And the next-door neighbor, currently getting a massive addition, looks to be building only to 2 stories, meaning that top (3rd) level view should be preserved. (That's a stroke of luck because the area now is zoned to permit 3 stories.)

Want to see the views from the roof deck? We posted the video below in March – it begins with the views from 648 12th before moving on to two other locations. (Email subscribers, use this link to access the video.) Enjoy!

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