If you're looking for a home or a lot in East Manhattan Beach, that's probably because you want one of those larger 7500 sq. ft. lots that are relatively standard east of Sepulveda.
With one of those big 50 x 150 lots, you can build well over 4000 square feet of house without digging a basement, and still end…
If you're looking for a home or a lot in East Manhattan Beach, that's probably because you want one of those larger 7500 sq. ft. lots that are relatively standard east of Sepulveda.
With one of those big 50 x 150 lots, you can build well over 4000 square feet of house without digging a basement, and still end up with a sizable yard.
The question is, what's that big lot going to cost you?
Like everything, East MB lots are now getting much more expensive.
There are 2 next-door neighbors really far east that have both just sold and seemed to raise the bar for land values.
1721 Gates (pictured) sold in March right at the asking price of $1.400M. Though it's east of Redondo Ave. and just about a dozen homes up off of Aviation, the lot is almost perfectly flat, which makes home design easier.
And it's just a 2-block walk to the west to get to the local elementary and the high school. But still, pretty far east.
Now, the next-door neighbor at 1727 Gates has sold, for $1.453M.
1727 has a 3br/3ba, 1500 sq. ft. house on it that's livable, but wants updates.
Regardless of the buyer's plans, the vast majority of that value was in the land, owing to the neighbor's recent sale.
So if these less-prime, full-size lots went in the $1.4s, what is the land worth on a quiet street, further west, say, nearer to the elementary?
And by the way, if we get spec homes on these lots, how deep into the 3's are they going to have to sell to be profitable?
We'll come back to these questions as the market gives us answers.
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 18th, 2024 at 5:55pm 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.