What Happened in El Porto

By Dave Fratello | April 15th, 2016

A simple, reliable rental duplex in El Porto, or a comparable little SFR, has gotten very expensive the last couple years.

It was enough of a surprise to see $1.6's getting hit, when suddenly along came a $1.8M sale. Here are some highlights from recent sales up north.

116 Seaview Street Manhattan Beach CA116 Seaview (duplex, 1320 sqft.) is highly modernized, fully to the max.

And that shows in its forehead-slapping sale price of $1.799M in early December last year.

This sale carved out a new peak for Porto.

Something like that territory was reached in the sale of another duplex at 118 Kelp in January this year (duplex, 1450 sqft.) for $1.695M. That one's actually a 3-story structure built in the 80s, not one of the boxy 50s/60s structures that dominate El Porto.

221 El Porto Street Manhattan Beach CA221 El Porto (duplex, 1600 sqft.) (pictured) is a charmer but not over-the-top remodeled.

It sold for $1.600M in June 2015.

206 Moonstone (duplex, 1370 sqft.) sold just a little bit before, for a little bit less: $1.565M in May 2015.

That one is very open and reasonably updated, and features outstanding views from a true roof deck.

131 Kelp Street Manhattan Beach CALooking at a different kind of El Porto property, 131 Kelp (2br/1ba, 1400 sqft.) is a very difficult, older house with low ceilings and needing a lot of remodeling.

Older homes like this 1929 original tend to be built in ways that make them difficult to expand (inadequate setbacks, for one thing; 90-year-old bones that make building up tough, for another).

The recent sale here at $1.475M came remarkably close to the asking price, which had seemed ambitious. 6 months on market? No problem. People want their sand lots, don't they?

205 40th Street Manhattan Beach CA205 40th (2br/1ba, 800 sqft.) falls under a similar description.

An even smaller amount of living space, combined with a tall structure and huge garage areas, still made it hard to really see any expansion or modernization of this property. The existing 800 sqft. house has been nicely remodeled inside, and that's pretty much the way it's got to stay unless someone wants to start all over. You can expect a reliable rental, though.

The sale in late February at $1.600M was far over the asking price of $1.425M, after a bidding war.

Also coming in at $1.600M in early March was a really cute, restyled duplex at 123 El Porto (2br/2ba, 935 sqft.).

120 42nd Street Manhattan Beach CACurrently in escrow you see a prototypical El Porto duplex at 120 42nd (1560 sqft.), built in the 60s, only lightly remodeled, which came out asking $1.650M

With comps in the $1.6-$1.8M range, buyers said "sure," and it was in escrow in about a week.

Not as successful, so far...

For a time earlier this year, a typical duplex at 116 41st, with limited updates, was looking to hit an all-new high at $1.849M. It's not actively on the market right now.

And 204 45th (duplex, 1800 sqft.) tried for a few weeks this year at $1.650M – which, you can see, seems more or less down-the-middle these days – but it has canceled.

For ease of reference, here's a recap of the recent El Porto sales in price order:

  • 120 42nd (pending, list price of $1.650M)

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