Weekend Opens (3/7-3/8)

By Dave Fratello | March 7th, 2009
It's another very busy weekend for opens, with plenty of new offerings and a few properties that were featured this week on MBC. Whatever your interest or potential price range, make time to see some good stuff.

To plan your open-house tours for this week, use MB Confidential's online list of Manhattan Beach open houses (it's mobile-friendly!).

We ask MBC readers who visit these homes to also report back. Tell us what you see, what you like and what you don't like. Use the comments here to discuss the homes we've highlighted.

Hill Section

201 Larsson (3br/4ba, 3900 sq. ft.) is literally at the top of the hill, and sports some good views as a result.

We're afraid buyers will find the 1980s/90s updates a bit, well, dated – more "Miami Vice" than 21st-century MB.

The start price of $3.299m works out to almost $850/PSF. A roughly comparable recent sale at 312 S. Dianthus (5br/5ba, 4475 sq. ft., $2.6m) came in at $581/PSF, while a super-clean, newer, quiet view home at 808 Highview (5br/5ba, 4575 sq. ft., $3.6m) came in at $787/PSF.

If you use these 2 as comps strictly for PPSF, 201 Larsson could be at $2.265m-$3.070m. Neither bordered busy 2nd St. If this one sells, we'd guess it's at the lower end of that range: $2.3m or so. Time will tell. Open Sun. 1-4pm.

114 N. Poinsettia (5br/5ba, 6400 sq. ft.) is a newer home with big ocean views that offers a lot to love, particularly now that the offering price has moved so much.

In May 2008, this nearly new home came out at $7.750m. Even after it adjusted to $6.995m, MBC suggested it was still high by a million or so. It was 1 of 3 homes put up for a pricing poll asking who'd be first to cut to $6m, and this one was the "winner." (Much to the chagrin of the owners, who happen to have good PR contacts that got their gripes into the WSJ.)

Poinsettia canceled late last year while at $6.2m, but returns now at $5.495m. That's beginning to look nice for a big home with lots of authentic Spanish character, large basement rooms (including gym) and a wonderful upstairs kitchen/living/dining space with maximal views. Open Sat. & Sun. 1-4pm.

717 Poinsettia (4br/5ba, 4200 sq. ft.) is a very classy newer home on a double corner lot. Instead of views you get gorgeous, lush landscaping unmatched in most of MB (huge plus in our book), and a big, secluded south-facing back yard. Currently at $4.499m. NOTE: Open Sat. only, 2-4pm.

Sand Section

408 9th is a new flat South End walkstreet entry that defines the breed better than 2 longer-running listings (both to be mentioned below). Here you've got real curb appeal, a nice front patio that opens out to the walkstreet and a mid-block location near downtown.

Updates are fresh and beachy. The only limitation on this home's appeal may be its size (4br/3ba, 2400 sq. ft.). We tend to agree with the listing's pitch that it's "Not too big, not too small... just right!" But there will be folks in this price range who want more space.

Watch this price. Starts at $2.299m and its fate may help define the walkstreet micro-market for a while. Sellers paid $1.565m in Sept. 2003. Open Sun. 2-4pm.

Nearby, flat walkstreet homes at 424 5th and 429 7th made news at MBC this week when they both made substantial price cuts. (See "Flat Walkstreet Chops.") They're now at $1.799m (for 5th) and $2.1m (for 7th). Both are a few hundred square feet smaller than the 408 9th, and 5th has an upside-down layout issue. Both are open Sun. 1-4pm.

The Strand for about $1m? That's what 4305 The Strand promises. It's a not-too-small TH (2br/2ba, 1750 sq. ft.) tucked up in a building that bears a legit Strand address. Fresh, contemporary updates. Starts at $1.199m. MBC went out on a limb and predicted it may not last a week. Open Sat. & Sun. 2-4pm.

Tree Section

Another MBC "Great Street" has a new offering.

755 31st (4br/5ba, 4050 sq. ft.) is a terrific, warm family home with big entertaining spaces and big bedrooms. You won't be surprised by the vintage – 1990 construction – with a few of its details, but it's warmly updated and decorated.

The listing notes a benefit of the location that you might miss otherwise. Sure, there's no yard to speak of, but the alley out back is a cul-de-sac, creating a protected play area for kids – nice bonus.

The start price, at $2.450m, puts 31st all alone between a bunch of big, new homes at $2.7m+ and several new homes and resales at $2.2m and below. Open Sun. 2-4pm.

As MBC noted Friday, the King & Queen are open.

The Fisher Queen (1208 Fisher) at $3.999m, and the Fisher King (1212 Fisher) at $5.295m, are both open Sun. 1-4pm.

2404 Palm (4br/3ba, 3100 sq. ft.) is back after a long hiatus. My, how things have changed since the first time this quirky home hit the market in Oct. 2007, vastly overpriced at $1.895m. (See MBC's story, "Unique Ain't Always Great," which details the home's "abundant strangeness.")

Palm rolled over into 2008 at $1.749m, but it had not really yet begun to adjust. A year later, the start price now at $1.599m seems out of kilter again. Consider that a larger (5br/4ba, 3500 sq. ft.), brand-new home at 2829 Valley closed last month for $1.650m. (Palm has a much better location, of course.) Open Sat. & Sun., 2-4pm.

2103 Elm
(new, 5br/4ba, 3100 sq. ft.) is NOT available for $899k, as the Beach Reporter open-house listing states.

It's a new Cape Cod still listed at $2.199m after 7 weeks, making it the priciest of all the Tree Section new construction smaller than 3495 sq. ft., although probably the best location from $2.2m down. (Way up in the stratosphere is 848 14th, 5br/5ba, 3495 sq. ft., still at $2.799m after a recent cut.)

We speculated that, perhaps, the misprint might have hinted at an upcoming price chop of $300k (to $1.899m), but no, not yet. Open Sat. & Sun., 1-4pm.


UPDATE: On Monday, 2103 Elm cut to $2.099m.

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