Recent Flip on Wendy Way Shows the Market Is Alive and Well

By Keith KyleMature trees and corner lot located in Liberty Village.

Luxury high-end flips have become fairly common in Manhattan Beach with prices skyrocketing and demand for “newer” feeling homes at an all time high.  Nowhere was this clearer than the recent sale at 1727 Curtis which sold in December 2014 for $1,050,000 and just resold in mid April for a whopping $1,749,000.  

There are still a number of original bungalow type homes in the area and most of the time they are sold to builders, torn down and a enormous new home is put in it’s place. There are some cases, however, where the square footage may make it worth more than a builder wants to pay, and makes for an attractive option for luxury remodels. That’s the case with the home at 2209 Wendy Way. Purchased in 2015-04-14 17.57.43November 2014 for $1,250,000 the home has gotten a beautiful makeover and hit the market several months later at $1,749,000. Unlike many of the past flipped homes in which the original purchase price was very low, this will be a good test as the builder purchased the home at a bit of a premium price for the location. They did a wonderful job of modernizing the home and layout, with high end finishes and a great feel, but the location is less than ideal and the asking price is certainly on the very high side in the Liberty Village neighborhood the home is in.   The home just went into escrow as April 21st but the sales price isn’t known as of this article.    Only time will tell but this may help determine just how eager flippers are to take on future projects.

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1740 2nd Street – New Home for Sale in East Manhattan Beach

East Manhattan is known for large homes and large lots, which allow for some creative and inspired designs.  The home at 1740 2nd Street has 1740 2ndtaken full advantage of the 5300 foot lot with an impressive 6 bedrooms and over 4000 square feet of living space.  As with all homes in the city, one of the major appeals is the fantastic Manhattan Beach Unified School district.  The home was built in 2005.  Located on 2nd St, a moderately busy street, the home is at the high end of the market for the location, but for those looking for a sizable home with a fairly new construction feel in a family friendly location, this might be the home for you.  Contact us for more information or call text at 310-251-2344 and we’ll be happy to help.

ML#:   SR14233907 
List Price:    $2,300,000
Price Per Sqft:    $573.28  
Bedrooms:  6
Baths: 5
Property Type:   Single Family 
Sqft (Src):  4,012 (Assessor’s Data) 
Lot Size  5300

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SCE to Upgrade Manhattan Beach Power Grid

Southern California Edison is making upgrades to the Manhattan Beach electrical grid.  This will affect a large part of home and businesses in this coastal city.  SCE  plans to start mid August in East Manhattan Beach and continue to the other areas identified in the map below.  This project is to eliminate El Porto substation and to provide maintain safe and reliable service to customers in city of Manhattan Beach. The scope of work include overhead pole replacements, underground re-cabling, and installing new vaults.

The process involves upgrading parts of the city distribution grid from 4 KV to 16 KV. During this process they will be removing (660) poles and (154) transformers and replacing them with taller poles and higher voltage transformers. When completed, SCE claims that the power grid will be more reliable with fewer blackouts and brownouts.

The process will take into mid 2015 and will be done block by block. While they are working on a block, the power will be off from a few minutes to maybe as long as most of the day. Their first priority is safety, so while working on replacing poles and wires they may have to shut down a whole block for the whole day.

According to SCE plenty of notice will be given to each property owner via door hangers, e-mails or text messages if you have given them your contact info.

For more information go to “ on.sce.com/elporto“.

SCE Construction Map of Manhattan Beach

East Manhattan Home Prices Reaching New Levels

By Keith KyleEast-Manhattan-Craftsman

Nowhere have we seen prices skyrocket in the South Bay over the past 16 months more than the luxury market of  Manhattan Beach.  In some areas we’ve not only returned to peak prices but well surpassed previous the high water mark for luxury homes.  Manhattan Beach’s most affordable area, known as East Manhattan, is no exception with formerly unheard of prices starting to become the norm.

East Manhattan Beach is the area of town east of Sepulveda Blvd and west of Aviation.  Due to being further from the beach, values have historically been considerably lower than other areas of this coastal community.  Excluding the truly rare oversized lots, prior to January 2014 there had only ever been 8 homes that had listed and sold over the $3,000,000 mark.

Oh how times have changed

As of April 20th there are currently 5 homes active on the market priced over this rare price point as well as 2 recent sales.  Time will tell if this is the new normal or just a matter of a vast number of luxury home sellers attempting to take advantage of this very favorable market, but either way the pricing trend in East Manhattan is a great indicator of just how incredible the market has been and continues to be.

Current Luxury Homes in East Manhattan Beach 

Sorry, but we couldn't find any results in the MLS that match the specified search criteria.

Sorry, but we couldn't find any results in the MLS that match the specified search criteria.

Luxurious Italian Estate in Manhattan Beach

Located in east Manhattan Beach on a massive 12,283 foot lot, the home at 1501 9th Street exudes luxury living while still offering a warm aninterior courtyard inviting feel.  The home features 8,474 square feet of living space and boasts 6 bedrooms and 10 bathrooms.  The oversized lot allows the home not only it’s impressive size but a wonderful outdoor pool and backyard area. Contact us for more information on this beautiful home in Manhattan Beach

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Inventory Down and Prices Up In East Manhattan Beach

By Keith KyleManhattan Beach Homes

The real estate market in Manhattan Beach continues to be dictated by record low inventory and there doesn’t seem to be any indication that will change in the near future. Historically inventory picks up mid to late January after the Superbowl when potential home buyers restart their searches and homeowners hope to take advantage of the increase in buyers. With the demand for homes in Manhattan Beach never waning, even through the traditional slowdown of the holidays, there’s been no reason for sellers to wait to list their homes…and no indication we’ll see any dramatic increase anytime soon. The chart below shows the combined areas that make up East Manhattan Beach with the light green line indicating active listings, the red bar pending home sales, and the dark green representing closed sales.

East Manhattan Real Estate Trends