Strand Happenings 2015

By Dave Fratello | December 23rd, 2015

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 Manhattan Beach CA3716 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 2015, this was a $6.000M property (sold in March).

4414 The Strand Manhattan Beach CA4414 The Strand (9br/6ba, 4400 sqft.) presents a similar profile for a property nearly as far north as you can get in El Porto without crossing over to the NRG power plant.

This late-60s "quadruplex" (per the tax records) stands out in a couple of ways. Unlike 3716 The Strand, this one had just gotten a head-to-toe modernization before its sale.

Also, there had been a recent purchase – the remodel could be called a flip by a buyer with extraordinary timing. That buyer grabbed 4414 for $4.500M in mid-2013, then put in the work and made a nice profit with a sale at $6.475M.

If there was any negative to be reported, it's that the first attempt to sell this during the remodel for $7.800M didn't work out.

304 The Strand made for a healthy lot sale/land bank with a sale in July at $14.000M.

MBC referenced this sale a couple times, including right as it went into escrow, in "'Why Not?' Trend Continues on MB Strand."

It was about double the value of Strand land in years so recent that we can remember them, but still, the trend had been in place for some time.

There was a recent on-market precedent: 516 The Strand sold in November 2014 for $13.500M.

Strand Properties in Escrow

104 The Strand Manhattan Beach CA 104 The Strand (5br/8ba, 6125 sqft.) is a speculative new construction project that is going to break some records for Manhattan Beach.

This one was sold while very little existed to show buyers other than high-tech sketches and a super-deep hole in the ground.

List price: $18.900M.

Buyer? Yes. In September.

See our post, "$19M New on The Strand" for some further background on this property, including the original asking price for the land: A measly $8.000M.

808 The Strand Manhattan Beach CA808 The Strand (4br/5ba, 2900 sqft.) is "just" the penthouse of this structure near the pier.

Like some others on this list, the property got a thorough treatment from a recent buyer who saw value in the upside.

Totally remodeled, flashy and looking very 2015, this one came out asking $9.800M.

It had been acquired in Sept. 2012 for $3.560M.

UPDATE: 808 The Strand has sold for $8.500M (-$1.3M/-13%).

That's all of the public-market sales activity along The Strand in 2015.

Which raises an interesting question: What about all those other listings?

Active and Canceled Strand Listings

For sure, the headliners in this year's Strand news are two that are stratospherically priced.

1000 The Strand Manhattan Beach CA1000 The Strand offers about a 5000 sqft. corner lot right near the pier.

It came out early in the year asking $28.900M (see "$29M? Can We Talk?"), and has gradually allowed $1M to come off that asking price.

They're deep into Month 7 of the offering as we write now, here in December. They've gotten some interesting press (see Easy Reader's "The Modest Origins of a $29 Million House"), but seem to not yet have found that one buyer they need.

2722 The Strand Manhattan Beach CA2722 The Strand is a true double lot right at about the midpoint of Manhattan Beach, just north of Bruce's Beach Park.

Measuring in at 6925 sqft., it's actually a bit more than the size of two 3300 sqft. Strand lots.

Start price: $28.500M – still the same now as the 3rd month of the listing begins.

Due to the price chop at 1000 The Strand, this is actually the priciest property in Manhattan Beach right now.

(See "Battle of the Giant Strand Lots Begins," from October.)

3808 The Strand Manhattan Beach CA3808 The Strand (6br/5ba, 4350 sqft.) offers two units, one back on Ocean Ave.

They're calling this a "spectacular Ocean front Estate" with "Tuscan/Mediterranean styling ... with unmatched design and quality."

It was listed for $8.395M for a spell, then increased to $8.695M when a new agent took over in July.

They're now into the 6th month of this version of the listing. 

1140 The Strand Manhattan Beach CA1140 The Strand (5br/4ba, 2800 sqft.) is a long-running listing of a triplex that is the first home north of the pier parking lots. Nearly every Manhattan Beach resident or visitor has taken note of the building at some point.

The most recent (apparent) effort to sell began in July 2013, let's call it 30 months ago, with an asking price of about $10M.

In July 2014, MBC published "Another Try at 1140 The Strand," which discussed an ill-fated 2014 listing. It was the fourth fairly recent listing of the property – soon to be replaced by this year's 5th.

The history on market:

  • April 2005-April 2006: Asking $5.6M
  • April-Oct. 2006: Asking $4.999M
  • July-Oct. 2013: Asking $9.995M
  • July 2014-March 2015: Asking $13.999M
  • Sept. 2015-present: Asking $15.975M

The seller obviously has a knack for staying ahead of the market, as well as on it.

614 The Strand Manhattan Beach CAEntering its 7th month is richly priced 614 The Strand (4br/3ba, 2125 sqft.) a smallish, polished, 1950 original.

Launched at $18.275M, this one has seen a single cut to $18.000M.

The sellers seem not to be in any hurry, banking on the incredibly high South End land value plus that for the cozy structure. And if they don't sell any time soon, hey, they live on The Strand!

3120 The Strand (5br/4ba, 4200 sqft.) is an early-90s contemporary, custom built, which launched in May asking $16.000M.

Midway through the 5th month on market, back in October, this one came off the board – canceled instead of selling.

4230 The Strand (3br/3ba, 1600 sqft.) is a corner condo that was offered for $3.600M, chopped to $3.350M and quit during its third month on market in June.

That's our briefing on beachfront property in Manhattan Beach for this year.

If someone surprises their honey with a Strand purchase in the next week or so, we'll update this post to reflect any changes before year end.

Please see our blog disclaimer.

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