The Teen Streets at $5M and (Way) Above

By Dave Fratello | July 30th, 2013

It seems that the pleasures of the Teen Streets near downtown are well understood.

Steps to the ocean, no Manhattan Ave. interrupting the flow from Highland to the Strand, and a short walk to all the amenities of downtown. These seem like private little paradises.

The going rate to get in: About $5M.

You now have 3 options on the Teen Streets at around that number, plus one other priced at... well, if you have to ask, it's not for you.

112 18th (6br/7ba, 4230 sq. ft.) was discussed quietly last week among agents and is now the newest listing of these teen street offerings, just hitting the MLS on Tuesday. We haven't seen it yet. 

The property profile and photos say a lot. You've got an 80s home with guest unit that's been well-maintained and upgraded, but still bears the marks of bygone notions of cool.

Is it urgent to revise the building? Probably not. But some day it will be modernized, most likely without being scraped.

One thing that will never change: That Strand-adjacent address... 18th and Ocean, oh my.

They're launching this one at $5.195M, a full million above the much more challenging 112 20th (4br/5ba, 4000 sq. ft.), which sold recently for $4.200M before a big remodel got underway.

The start price here is also a partial tick under the $5.300M sought for the new listing (larger home) at 224 29th St., a home that's basically comparable but not in the teen streets area.

Next up is 215 19th St. (4br/5ba, 4250 sq. ft.), a by-the-books, safe, conventional, lovely early-2000s Mediterranean.

It's got all the major boxes checked – reverse floorplan for capturing views, and open, island-style kitchen, entertaining room downstairs opening to the walkstreet patio, elevator.

And that Teen Street location.

This one's deep into its second month on market – and there was some pre-market time, too, when it was offered.

It hasn't been a hit yet with buyers, and we're not entirely sure why. We're suspecting that the views just aren't quite enough, or maybe the style is fading too fast in our collective rearview mirrors. But this is not a bad house by any measure.

215 19th is listed at $4.999M.

204 16th (4br/5ba, 4300 sq. ft.) is the longest-running of this elite group at nearly 90 DOM as we write here.

We've said before that this newer (2007) Mediterranean home has a heavy, serious, luxurious feel to it all around. Great ocean views from the top-floor living room in back, and very decent views down the walkstreet in front as well.

View bonus: The power poles are gone, as of just a couple years ago.

As is common (and most requested) for a walkstreet home like this, you've got an entertaining room on the bottom floor, connecting to a patio on the walkstreet, bedrooms on the midlevel, and living spaces up top, nicely integrated with private, outdoor decks.

This one traded 2 years ago, almost exactly, in May 2011, for $4.700M.

204 16th has been asking $5.295M, a markup of +$595K (+13%) over just 2 years. (But what a couple of years.)

And then, floating high above all of these, there's a completely unique, massive home in a great spot – currently the priciest home in all of Manhattan Beach at $12.875M.

That's 201 18th St. (5br/7ba, 7900 sq. ft.).

The 1.5x lot size (4050 instead of 2700sq. ft.) is only part of the story of how they got almost 8000 sq. ft. into this modern masterpiece of a house.

They dug.

And not just for a whiz-bang media room or some extra (dark) guest bedrooms like you might see in a typical basement. No.

Beneath this blazingly gorgeous, warm modern home is a vast wine cellar, er room, er celebration space. You can walk the aisles behind the glass-framed, refrigerated walls of the cellar, an area that feels not unlike a cold library with oaky aromas. Bring out the wines you'd like to sample, and enjoy around a large table in the tasting room.

The home itself has so many "wish list" items for a high-end 21st-century beach house, you almost lose track: A blend of wide open and modern with rustic woods and stone, floor-to-ceiling windows, covered indoor/outdoor rooms, disappearing doors, a mud/beach room to shake off the sand and wash off the suits, great bath for the master, even an ocean-view home office.

About the only thing you could say is missing from a "have it all" checklist would be a pool – but that's provided 150 yards to the west and stretches all the way to Asia.

This home compares to few, if any, ever built in MB. Not incidentally, its closest comp is probably the most ridiculously high-priced off-market sale ever in MB, the $16.0M paid for 853 3rd St. in the Hill Section back in 2011. (See "2011: A Year of Highs, Part II" for more.) That was a unique sale in a unique situation, requiring lots of extra dollars to pry the sellers off their land.

And the home was designed by the same firm as 201 18th... so, does this one have that kind of potential?

MBC bonus link: Enjoy hi-res photos on this property-specific website.

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