It is something of a rule in real estate – especially with respect to view locations – that the neighbor is the best buyer.
But recently, a variation on that theme has emerged twice on the Manhattan Beach market.
In both cases, there was an opportunity not only to buy one property, but to also buy the neighboring property at the same time.
Highland/Crest
Two half lots emerged in the treasured South End of the Sand Section in early May.
212 Highland Avenue (1br/1ba, 651 sqft.) could have been viewed as the "front" half of a full lot sale.
That's because right behind it, 211 Crest Drive (2br/2ba, 1431 sqft.) was being offered at the same time.
212 Highland was offered at $2.250M, slightly more than the rear property, due to its greater view potential. (The Crest property could be blocked by a new build on this very site at 212.)
211 Crest was asking $2.150M. (Both properties are listed by Jennifer Caskey, Compass.)
212 Highland needed one week to make a deal, while 211 Crest needed two weeks.
(Not so bad in either case, of course.)
Because the properties sold a week apart, one might infer that there was not a single buyer who took advantage of the opportunity to buy both, and try to merge the lots and make one new home there.
We'll see where they wrap up.
1800 Block of The Strand
On Manhattan Beach's front row, facing the Pacific Ocean, recently a unique opportunity came up with two neighboring Strand lots.
1812 The Strand (2br/5ba, 3550 sqft.) is a modern style build from 2006 (described as offering a "nod to Brutalist architecture").
Right next door is a considerably older home, a 1922 build at 1808 The Strand (1br/1ba, 1068 sqft.), described as literally the oldest home on The Strand.
1812 was asking $13.000M and 1808 was at $12.750M. (Both properties are listed by Edward Kaminsky, eXp Realty of California, Inc.)
The agent representing both properties made clear that the two offerings present the "exceedingly rare potential for a side-by-side acquisition," which "could become one of the most extraordinary double-lot opportunities ever to come to market on The Strand."
And, lo, both properties went under contract at virtually the exact same time, just 3 weeks after listing.
Maybe someone saw that opportunity exactly the same way, and didn't miss it?
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.
