Village Plan 1 Nears $1.4M in Sale

By Dave Fratello | November 3rd, 2022

The 2br "court homes" in Manhattan Village, behind the gates, are one kind of entry-level property in Manhattan Beach.

So it's notable when yet another new high hits, as has just occurred.

A remodeled Plan 1 unit at 4 Bermuda Ct. (2br/2ba, 1465 sqft.) has now closed for $1.385M, besting the record for this popular floorplan by $26K.

(Property was listed by Tony Barberi of Vista Sotheby’s International Realty.)

The unit had first listed closer to $1.500M, beginning at $1.495M in June.

This $1.385M sale was $86K (+6.6%) above the Dec. 2021 acquisition price of $1.299M

After that purchase 11 months ago, the owners redid flooring and railings, and added a couple of points of style, but by and large the home today is in the same (remodeled) condition in which they bought it.

What's really striking about the sale is that it took 86 DOM.

Most recent 2br sales in the Village have gone with single-digit DOM counts, only one much more than 30 DOM. That's evidence of how it took time to work the price down, along with a hint that buyers at this price point may be more sensitive today.

With this new high sale, the Plan 1 2br court home record books include:

30 Monterey Ct. (2br/2ba, 1474 sqft.) at $1.359M (Sept. 2021)

14 Monterey Ct. (2br/2ba, 1474 sqft.) at $1.325M (March 2022)

5 Lafayette Ct. (2br/2ba, 1465 sqft.) at $1.325M (June 2021) - first over $1.3M

17 Cordoba Ct. (2br/2ba, 1465 sqft.) at $1.325M (Sept. 2021)

-------------------------------------------------------

32 CAyman Court Manhattan Beach CASpeaking of Village remodels, let's also look at the recent closing at 32 Cayman Ct. (3br/3ba, 1876 sqft.).

This is a Plan 3.

It was offered up in Spring in very original, and, frankly, half-destroyed, condition. It sold as a sure-fire gut-job in June for $1.500M.

A very capable, quick flip later, 32 Cayman was back on the market looking modern.

They sought $1.929M and got most of it: $1.875M, in a deal that closed this week.

(Property was listed by David Salzman of Engel & Volkers LA-South Bay.)

After buyer fees, that's a gain of $328K, but you still have to back out full costs of remodeling.

There's a profit here, but perhaps not extraordinary.

And while the list price was a tad more than the record $1.925M paid for 28 Bermuda Ct. (another Plan 3) in November 2021, it didn't get that, so the sale seems to settle in for 2nd place now, displacing the Plan 3 at 11 Cordoba Ct., which got $1.852M in Oct. '21.

--------------------------------

For a general summary of the Village, unit types and floorplans, see our Manhattan Village page here.

Please see our blog disclaimer.

Latest Listings Among
Manhattan Beach Homes For Sale