3 Mid-Priced Manhattan Beach Homes

Let’s say you have about $1,650,000 to spend and you’re looking for a detached, single family residence (not a townhome or condo) in Manhattan Beach. You’re in luck. There happen to be three homes currently offered for sale at that exact price: 435 10th Street, 1516 Highland Avenue, and 1601 Faymont Avenue. Which would you choose?

435 10th (4br/2.5ba, 2022 sf, 2479 sf lot) Is an older Sand Section home (1952) that has been maintained and improved over the years. It has beach charm and personality that will take time to develop in the newer homes. This home has not been sold during the last 20 years. It is located on the corner of a south end walk street and Valley Drive, just a couple blocks to the heart of downtown, right across the street from the Veteran’s Park greenbelt, and about 4 blocks to the beach. The walk street frontage is nearly three times what the other 10th Street homes have. Garage access is off Valley Drive, a local thoroughfare.

1516 Highland (3br/3.5ba, 2229 sf, 1500 sf lot) Offers outstanding ocean views from a contemporary style home built in 2005. It last sold 3 years ago for $1,798,000, about 8% above the current list price. Highland Avenue definitely qualifies as a busy street, but up on the third story you’re above it all. This Sand Section home has a great location for the beach lover who prefers no yard work. You could roll right out of bed and into Uncle Bill’s Pancake House, just two blocks away. It is right at the edge of the downtown area and only a couple of blocks to the beach, within convenient walking distance of anyplace you would care to go.

1601 Faymont (5br/4.5ba, 3464 sf, 5247 sf lot) This beautiful Cape Cod style home was built by Gravatt Construction in 2006. It last sold 3 years ago for $1,880,000, about 12% above the current list price. This large new home has a real back yard with grass and enough room for a children’s play set. It provides abundant street parking and a little more distance between you and your neighbor. This Liberty Village home is perfect for a family with young children.

If one of these properties is just what you’ve been looking for, or if you want assistance purchasing another South Bay home, call Janie Sue Nagy at 301.707.8762 or email Janie.Nagy@shorewood.com

Viewing Not Quite 3 Open Houses in the Trees

Thought I’d check out open houses for 3 Tree Section homes that were just listed this past week.

1609 Oak – At $950,000 it is currently the lowest priced livable home in the Trees. (The only one priced lower is definitely a teardown.) This home has been a rental and its condition is acceptable for a rental. However, someone paying close to $1 million for their own home would surely want to make some significant upgrades or perhaps just rebuild. (See previous post.)

1413 Pine – $1,389,000. The open house closed an hour earlier than advertised and I missed it. I noticed the home had gone to backup status earlier today and wondered if it would still be open. Passing it on the way to 1609 Oak, I saw it was open after all, but 15 minutes later the open house was over. Maybe it was just too much to have folks trudging through with muddy feet from the rain, after it had sold. (See previous post.)

1724 Pine – Asking $2,049,000 (4br/4ba, 3532 sq ft, 4480 sq ft lot, $580/sq ft) for this 1998 home with a lovely stone façade. The French Normandy architecture by Jay Stephenson, AIA is definitely uncommon at the beach. The interior finishes are very nice. The bedrooms are large and the hall bath is as large as most master baths. The only thing I found odd were the rough-finished, sloped ceilings in the living room and master bedroom. Raising the living room ceiling turned what could have been another bedroom or office above it into an attic space that is finished, but not included in the official square footage. The landscaping is well done. However, there is not much yard to landscape. The rear is all deck and patio.

After checking a few comparable properties, I understand why the high-quality flyer for the home did not include the listing price. I suspect the price will change soon.

The closest active comp for 1724 Pine is a Mediterranean style home at 1605 Elm for $1,699,000 (4br/3ba, 3104 sq ft, 4256 sq ft lot, $547/sq ft) built in 1999.

The most recent comparable sold home is 566 31st Street (5br/4.5ba, 3336 sq ft, 4761 sq ft street-to-street lot, $538/sq ft) in the gas lamp area. It was built in 1998 and sold in December for $1,795,000. While 31st Street is closer to the refinery and may suffer from being close to Sand Dune Park, it is also closer to the beach.

Other comparable closed sales include:

2901 Oak (5/5, built 2008, 3250 sf, 4480 sf lot) $1,699,000 sold 11/23/2009

2312 Pine (5/5, built 2003, 3143 sf, 4480 sf lot) $1,755,000 sold 10/15.2009

3210 N. Ardmore (5/4, built 1998, 3489 sf, 6380 sf lot) $1,400,000 sold 10/24/2009

1308 Walnut (5/4, built 1999, 3273 sf, 4480 sf lot) $1,850,000 sold 9/3/2009

1825 Oak (4/4, built 2007, 3136 sf, 4480 sf lot) $1,679,000 sold 8/7 2009

2200 Palm (4/4, built 1996, 3647 sf, 5220 sf lot) $1,975,000 sold 7/13/2009

1812 Palm (5/4, built 1998, 3226 sf, 4480 sf lot) $2,100,000 (above list price of $1,899,000) sold 7/11/2009

1825 N. Poinsettia (5/4, built 2004, 3420 sf, 4480 sf lot) $2,000,000 sold 6/16/2009

3413 Pacific (5/6, built 2008, 3400 sf, 4480 sf lot) $1,687,375 sold 5/18/2009

Contact Janie Sue Nagy 310.707.8762 or Janie.Nagy@shorewood.com for real estate services in Manhattan Beach and surrounding areas.

Wow - Some Quick Sales in the Trees

A couple of Tree Section homes relisted this past week have sold already.

1413 Pine is accepting backup offers after 5 days on the market. The owners attempted to sell 2 years ago for $1,759,000, coming down to $1,659,000 and taking it off the market after 6 months. This property was also in preforeclosure, having received a Notice of Default in 2009. With the inventory of available homes lower now and a lower asking price of $1,389,000, this home was snapped up quickly this time.

2405 Elm is in pending status after 16 days into a new listing. (See previous post.) I don’t know if the price reduction of about $50,000 or the increase in compensation offered to the buyer’s agent or a change in market sentiment made the difference, but it’s now in escrow.

Contact Janie Sue Nagy at 310.707.8762 or Janie.Nagy@shorewood.com if you would like to snap up your own home in Manhattan Beach or neighboring areas.

17th Street Wannabe in the Tree Section

1609 Oak Avenue was just listed for sale at $950,000. This 3 bedroom - 3 bath (1988 sq ft) home has been a rental, and is coming to the market now as part of the owner’s estate. The listing notes that even though it has an Oak address, “This home faces 17th St., only the garage is on Oak.” The home was built in 1976 and while it is livable, this corner-lot home will need some updating.

A buyer has got to ask, "What else could I get in the Tree Section for just under $1 million? " Here are a few comparable homes.

For about $100,000 less you could get this teardown at 1801 Elm Avenue. So if you want to build in the Tree Section and are willing to go to probate court to overbid the auction price, this property has the same size lot (4480 sq ft) and is situated mid-block rather than on a busy corner.

2204 N. Ardmore. For a little more ($979,000) you could buy this single story (1126 sq ft), 3 bedroom - 2 bath home, a little closer to the beach on a slightly smaller lot (4400 sq ft). How many homes come with a private putting green? It has been on the market over 100 days, so the price may be a bit more negotiable by now.

2405 Elm (2168 sq ft) was immediately relisted at $999,900 after the previous listing expired. It was originally offered for $1,250,000 in June 2009. After several price reductions, it expired at $1,050,000 in December. This home has been updated with some nice features, but suffers from a quirky floorplan. It also has 3 bedrooms and 3 baths on a 4480 sq ft lot.

Call 310-707-8762 or email Janie.Nagy@shorewood.com to schedule a no-obligation consultation, if you are interested in buying this home or any other South Bay property.

Even the Infrastructure is Beautiful

In Manhattan Beach, it is all about the aesthetics. For example, here is a Manhattan Beach cell tower in disguise.

 

Compare it to more humble attempts at camouflage for inland cell tower trees.

FSBO No More

Signs are changing in the Hill Section - 800 N. Poinsettia is serious about selling. The FSBO sign is gone (after being up a little over a month - see earlier post Hill Section FSBO Really?) and a Shorewood sign has appeared. The tenants have left, the gardeners have already tidied up the landscaping, and contractors are busy sprucing up the place. You can see their van in the picture. This Hill Section property has a nice city view and a large deck off the north side to take advantage of the view. Look for the listing to hit the MLS soon.

According to the tax assessor this home has 4 bedrooms, 3 bathrooms and was built in 1967. The lot is 50’ by 144’. It will be interesting to see what the asking price turns out to be. Inventory in the Hill Section is pretty low now, only 6 current listings (2 new homes, 2 built in 2004, and 2 from the '50s).

It must not have received sufficient builder interest as a FSBO. But it would be a great lot on which to build a magnificent new home. It is located in good company.

Just across the street, a beautiful new home at 718 N. Poinsettia sold for $3,225,000 in December.

On the opposite corner, 717 N. Poinsettia (which has a lot about one and a half times the size and was built in 1986) sold for $3,110,000 in November.

Just up the street at 877 8th Street a 2006 home sold for $3,100,000 in December.

There is also construction nearing completion on a new home just a half-block toward the beach on 8th Street.

Call 310-707-8762 or email Janie.Nagy@shorewood.com to schedule a no-obligation consultation, if you are interested in buying this home or any other South Bay property .