To Sell or to Rent?

By Dave Fratello | September 28th, 2017

It's getting to be that time of year when it's neither optimal to sell nor to rent out a home.

In 2-3 weeks, that statement will deserve underlining.

But if you're out of the house and want some kind of income, why not try both?

That seems to be the attitude among various sellers/potential landlords out there. They've got their properties listed publicly for sale and for rent at the same time.

Curiously, all of the listings we found to be listed both ways are either in the Sand Section or the Tree Section - no Hills, no East Manhattan.

In the list below, clicking on the first address will bring you to the for-sale listing; a second link will display the rental listing. 

424 2nd Street Manhattan Beach CA424 2nd (4br/6ba, 4200 sqft.) is a true custom beauty in a great Sand Section neighborhood in the South End.

The offering price, now $5.235M, seems to comp out reasonably well, but after 5+ months, the home hasn't sold.

For almost 2 months, they've also been offering 424 2nd for rent for $16,000/mo

Disclosure: Dave has toured clients through the property recently.

Also in the South End, the single-family home at 225 1st (3br/4ba, 2100 sqft.) has been on the market 7 weeks. 

The for-sale offering price: $2.849M (down from $2.995M).

And for rent: $7,495/mo. (was $8,950). 

88 Manhattan Avenue Manhattan Beach CAA third one in the South End: 88 Manhattan Ave. (3br/4ba, 2150 sqft.), a modernized mid-90s ocean-view townhome.

Listed at $3.500M, there are no takers yet after about 2 months.

The rental listing, which is 3 days older than the for-sale listing, is at $13,000/mo.

Up in the North End of the Sand Section, there's a case that looks more like a rental that is trying to sell at the same time, rather than a sale listing that's for rent.

432 32nd (4br/4ba, 4300 sqft.) is listed for $3.495M, $100K lower than its start 4 weeks ago.

The rental listing began much earlier, however, and is in its 12th week, way down to $8,750/mo. after a start in July at $13,950/mo.

746 31st Street Manhattan Beach CA746 31st (4br/3ba, 3525 sqft.) is an early-90s original with some updates on one of the truly great streets of the Tree Section.

Listed for 3 weeks at $3.149M, it hasn't found a buyer just yet. 

Listed for rent for 5 weeks at $10,000/mo., it also hasn't found a tenant yet.

622 The Strand (2br/2ba, 1110 sqft.) is the "Glass House" on a "landlocked" corner on The Strand at 7th St.

Seems like everyone knows this house.

You may not know that its attempt to sell this Summer appears successful. It's in escrow (has been since August), with a last list price of $6.299M.

A rental listing remains active here, with over 320 DOM, at $17,900/mo. Presumably that rental listing gets canceled when they close the sale. But why not yet?

2504 Pine Avenue Manhattan Beach CA2504 Pine (5br/5ba, 3600 sqft.) is a 2007 Tree Section Mediterranean that benefits greatly from both a recent refresh and terrific staging.

Looking good and on the sale market, it's asking $2.999M.

Or you might get the keys the the same house by renting it. The rental listing is at $11,000/mo.

452 27th (5br/4ba, 3850 sqft.) is a 1990-built custom contemporary up on the plateau in the North End of the Sand Section. 

The listing came out at $3.350M in July, and cut $100K about a week ago to $3.250M. It's at 76 DOM as we speak.

The rental listing, at $9,000/mo., began about the same time as the price cut on the sale, and has 9 DOM.

2600 Grandview Avenue Manhattan Beach CAThe new construction at 2600 Grandview (6br/8ba, 4400 sqft.) is, as they say, "one-of-a-kind" and "stunning," with views that you almost could not imagine as possible. The beach, the ocean, PV, downtown MB and the Martyrs steeple... very inspiring, very Manhattan Beach.

The for-sale listing is in its 9th month now, down almost $1M from asking to $5.999M.

The for-rent listing is in its 6th month, down $2,000 from start to $19,500/mo.

Lastly, up on the plateau, one of the newest listings is 436 28th (4br/3ba, 1700 sqft.). 

For sale: $2.499M.

For rent: $8,550/mo.

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