Sold for $750,000 or 7% over the listing price of $699,900 after just nine days. This sale turned out to be a successful quick flip (see earlier post – Liberty Village Flip Flop Flip) for the second ("buy-it-cheap") flipper who picked it up for $540,000 in December 2009 as the result of a foreclosure. The original ("fix-it up") flipper lost the home after chasing the market down beginning in 2006. So if you can pay cash and know your way around the foreclosure market, there are bargains to be had in Manhattan Beach.
1700 Manzanita Lane ($999,000 4br/2ba 1,790 sq ft)
Sold for the list price of $999,000. This older home has been remodeled and well maintained. The assessor’s records show 3br/1ba so there were some unrecorded additions even before the previous sale. This home last sold in August 2004 for $925,000. The owners tried to sell in 2006 for $1,175,000 and cancelled after 44 days. They tried again in mid December 2008 for $1,065,000 and again cancelled after 34 days. The third time was the charm. After finally getting the price right, they got an offer that stuck five days after listing it.
1344 23rd Street ($1,105,000 3br/2ba 2121 sq ft + 1br/1ba 536 sq ft)
Sold for 96% of the original listing price at $1,105,000 after 122 days on market. This property is considered a duplex because it includes a separate 1br/1ba guest house. The main house has 3br/2ba. It is an older home that has been updated and well maintained. It is situated on the south side of 23rd Street, so it does not back up to the traffic on Marine Avenue. It had not been sold since 1973.
2104 Manzanita Lane ($1,400,000 5br/4ba 3556 sq ft)
This house sold for either $1,384,000 or $1,400,000 depending on whether you believe the listing agent’s MLS update or the recorded transfer value. I’m going to call it based on the recorded value, basically it sold at the listing price. This home last sold for $975,000 in 2001.
1208 Magnolia Avenue ($1,500,000 5br/5ba 3419 sq ft)
The most recent listing for this “new” 2006 home ran 184 days. It was first offered at $2,099,000 in September 2006 and has been chasing the market down since then. The price was reduced to $1,999,000 in May 2007, to $1,899,000 in September 2008, to $1,749,000 in June 2009 and found a buyer for $1,500,000 in January 2010. There was a long enough break in listings between when it was withdrawn from the market in January 2009 and relisted in June 2009 to reset the cumulative days on market. The developers bought this property for $899,000 in May 2005.