Townhomes That Went to the 3's and 4's

By Dave Fratello | June 21st, 2017

It was only back in 2011-12 that the first Manhattan Beach townhomes sold over $3M. (Here we exclude townhomes on the waterfront on The Strand, where prices are obviously always a few notches higher.)

2702 The Strand Manhattan Beach CAOne of the first was 2702 The Strand (3br/4ba, 1900 sqft.) in July 2012, almost exactly 5 years ago. It traded for $3.050M then.

This week, it resold for 55% more: $4.750M.

Despite that prestige address, 2702 The Strand is the rear unit, a good 50' from the actual Strand. But it does benefit from the corner-lot location and forever views over the parking lot of the county lifeguard station across the way. (Arguably it's a "better than Strand" location, because it's minus the fishbowl effect of being on The Strand proper.)

611 Bayview Drive Manhattan Beach CAAnother townhome that made a big, big leap like that, albeit in a more compact period of time, was 611 Bayview (3br/4ba, 2720 sqft.). That's a rear unit with views (yeah, views!!!) over its companion front unit on Manhattan Ave.

Brand new in January 2014, 611 Bayview sold for $3.250M. (It had actually pre-sold during construction.)

Exactly 2 years later, in January 2016, it was listed for $4.650M, a 43% bump, and it got every penny of that in a sale that closed a month later.

We count 25 Manhattan Beach townhomes (non-Strand-front) that have sold over $3M in the past 4 years, including 4 at $4M or higher.

Use this link to see all townhomes sold in MB for the past 3 years. (This is always available under our "Data" menu at the top of the page.)

100 Manhattan Avenue Manhattan Beach CAThese include epic recent sales at 100 Manhattan Ave. (pictured) at $4.900M and 703 Bavyiew at (!) $5.575M (!).

As this trend was taking hold, Dave helped clients get in under $3M for one TH with outstanding views at 2517 Bayview (3br/3ba, 2050 sqft.), which sold off-market in Sept. 2014 for $2.875M.

Most recently in this category, our clients got new construction at 815 Crest (4br/4ba, 2550 sqft.) for 10% under asking at $3.425M.

Today, there are 4 Sand Section townhomes in the $3M range, and 3 more in the $4M range.

In the 3's:

1211 Bayview Drive Manhattan Beach CA1211 Bayview (4br/4ba, 2350 sqft.), newly at $3.649M after just 2 weeks; this one was purchased less than 2 years ago in Oct. 2015 for $3.600M.

204 21st (3br/4ba, 1900 sqft.) is asking $3.499M.

2211 Bayview (4br/4ba, 2650 sqft.) is at $3.449M. Nearly identical neighbor at 2215 Bayview sold in Sept. 2016 for $3.425M.

Way far north, 3612 Alma (4br/4ba, 2500 sqft.) is newly up and asking $3.195M.

Just $1.00 out of the 3's is 301 15th Place (4br/4ba, 2065 sqft.), at $2.999M.

In the 4's:

704 Manhattan Avenue Manhattan Beach CA704 Manhattan Ave. (3br/4ba, 2450 sqft.) is the front-unit companion to that epic sale at 703 Bavyiew. It's now asking $4.650M.

304 and 308 3rd are new construx in the South End along HIghland, priced at $4.399M for the front unit at $4.199M for the rear.

You may, or may not, notice that the total number of sales of Sand Section townhomes over $3M this year is 6, while the current inventory is 7. (We're not counting units that are about to come to market, obviously.)

And there are 3 asking $4M or more, and a historical total of 4 to ever go over $4M. Maybe that's simply because it's a new trend, a new tier.

There's still some gas in the tank, for sure, especially for townhomes that are new or newer, and boast good locations.

It's notable, though, that some are compiling DOM and price cuts and still hanging around. There's something to watch here.

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