south end

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People want to see signs... omens... hints of what is to come.

There are no guarantees of future performance this year, but look at some deals made in the first 5 weeks of 2016:

611 Bayview (3br/4ba, 2720 sqft.) is a slick, modern and nearly new view townhouse near town but on the quiet alley street just up off of Manahattan Ave.

Purchased new for $3.250M in January 2014, this one was quite nearly the first Manhattan Beach Sand Section townhome to ever garner more than $3M. (Off The Strand, that is, to be clear.)

But that was so, so long ago... two years.

Listed for $4.650M this year, this market maker is doing it again – getting an offer within 9 days.

That $1.4M markup is +43% over 24 months. In retrospect, maybe they got a deal on the original…

It's been another busy year all around town, but the super-special slice of Manhattan Beach real estate that everyone loves to see is The Strand.

So what has happened, and what hasn't happened, along The Strand this year?

Let's take a look, in the way you know MBC always does – comprehensively, covering all the action.

Sold Strand Homes

3716 The Strand (9br/6ba, 4200 sqft.) is a North End triplex that dates back to the 1960s.

Oh, it was a simpler time in Manhattan Beach way-back-when. For one thing, people shared their Strand properties – they didn't hog the lot all to themselves.

You know the old MB, which was reportedly crawling with airline in-flight service personnel, bikers, dope dealers and Thomas Pynchon? That happened in places like this.

In…

We were a bit surprised recently to hear someone's surprise.

The surprise was at the recent sale of a large Mediterranean on a flat walkstreet at 401 4th (4br/5ba, 4450 sqft.).

List price: $4.500M. Sold price: $4.775M.

Sky high? Yes and no.

Sure, that's a lot of money for a house without substantial views, and a lot more than one might have paid on the walkstreets even two years ago. Still, it's utterly consistent with the trend in the South End. Maybe "low."

We're in a submarket where lots are selling in the 3's – more on that in a moment – and the two most recent sales of fully built homes occurred off-market and at much higher prices. Specifically:

Almost a year ago now, in December 2014, an off-market sale of 429 8th (4br/5ba, 4120 sq. ft.)

Five years after one of its most recent sales, a South End townhome is now on the market asking $1.100M more than its 2010 price. It's a whopping 68% appreciation over 5 years if they get their number.

We're looking at 301 2nd (3br/4ba, 2100 sqft.), an early-90s contemporary townhome with views down the 2nd St. walkstreet across Highland.

Sold in October 2010 for $1.625M.

Now asking: $2.750M.

Oh, and there was an interim sale on the way up the express elevator:

This TH sold in October 2013 for $1.930M.

A friend of MBC purchased this unit back in 2001 for $906K, which must have seemed like a lot at the time.

It was that owner's upgrades to the baths and kitchen that seem to prevail even today, after the 2010 sale.

So the two most recent owners have…