Since mid-May, we've seen 6 Tree Section homes listed on the MLS sell for $3m+, with 2 more sold privately and reported for comps.
As we end the year, it looks like we have one more to add – 613 15th St., now in escrow after about 3 months on the market.
If you've been up near the top of American Martyrs Hill in the…
Since mid-May, we've seen 6 Tree Section homes listed on the MLS sell for $3m+, with 2 more sold privately and reported for comps.
As we end the year, it looks like we have one more to add –
613 15th St., now in escrow after about 3 months on the market.
If you've been up near the top of American Martyrs Hill in the past year-plus, you've seen three neighboring lots that got snapped up, scraped and adorned with new Caliterraneans. All were sold for about $4.2m.
Here were the lot sale prices:
- 604 15th, sold 8/06, $2.020
- 608 15th, sold 2/06, $1.975m
- 613 15th, sold 5/06, $1.950m
On the south side of the street,
604 and
608 15th were both pre-sold during construction – a nice chance to tailor these projects to buyers' specific tastes.
613 was the outlier in a few respects – particularly because it fell to market. Is it great, for
$4.179m?
It's huge. With 6br/8ba and 5500 sq. ft., the home features a kitchen/great room combo suitable for a kids' basketball practice. The vast living room up front
(pictured) features high ceilings. Down below, there's a media room (a
B-minus version, in our book) that offers two baths. Of course, the master is splendid.
MBC wanted to love this home more than we did. There was a palpable sense that the house was a standard Tree Section newbie that was just inflated a bit more to fit the larger (6250 sq. ft.) lot. There were great details, and pro forma details. Frankly the home begged for staging to make sense of its cavernous spaces.
There was quite enough here, nonetheless, to net a buyer. (Actually, this is the second contingent escrow to date.)
As we look at the price, it's worth a quick comparison to the neighboring pre-sales – note that all the lots are 6250 sq. ft.:
- 613 15th (6br/8ba, 5500 sq. ft. – $760 PSF) [based on last list of $4.179m]
- 608 15th (5br/6ba, 4775 sq. ft. – $880 PSF) [based on Oct. 26 sale price of $4.2m]
- 604 15th (6br/6ba, 4950 sq. ft. – $850 PSF) [based on pending price of $4.2m]
With a prestigious location, an ocean peek and a vast, quality house, 613 15th was going to go. We're curious as to why it began lower on PPSF – was it the excess of s/f, different architect or builder, limited views?
There are 3 business days left in the year. If this is the last hurrah for the Trees for now, it's fitting to have it be one of the highest-priced listings.
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 March 29th, 2023 at 3:30am 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.
