This Cape Cod Was a Good Buy in 2012

By Dave Fratello | June 28th, 2017

1417 Elm Avenue Manhattan Beach CAIf you know what's perennially pleasing to Tree Section buyers, then there's only one question about 1417 Elm.

Six years ago, the then-owners tried, but could not sell it.

Why not?

It's artfully done. A close walk to school on a nice block. A familiar floorplan.

In 2011, priced at $2.099M and then down to $2.049M, they couldn't make a deal. Three months came and went, and the listing simply shut down. They rented out the house instead of selling.

Was the community of potential buyers still too bruised and battered and skeptical way-back-when, unsure about values, unsure where the market was going? Were people unsure whether to believe that restaurants like the then-fledgling MB Post were really going to be a part of a true downtown transformation that would help lift Manhattan Beach to another level of desirability?

1417 Elm Avenue Manhattan Beach CAWhatever people were thinking back then, whatever held them back, they missed a good one. 

You know who didn't miss it? The current owners. They swept in and bought it off-market in late 2012.

They actually paid more a year-plus after the failed listing: $2.149M.

That was still a good decision. The market had only begun to rise.

And the market rose consistently from the moment of their late-2012 acquisition pretty much through today.

Now the owners, newly sellers, will try to capture that appreciation. The start price: $2.995M.

That's for a 5br/5ba, 3000 sqft. home referred to in the listing as a "high end Nantucket styled home" that "radiates great execution." Perhaps the only qualification here is that the lot size (4200 sqft.) is a bit smaller than most Tree Section lots, and the total home size and backyard are proportionally smaller as a result.

Still, they'll do well. They can't help but do so. Because they didn't miss it.

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