2 Sales in Manhattan Beach Above $20,000,000 in 2017

By Keith Kyle

2017 has seen a few sales with HUGE numbers that are still pretty unheard of….even in this high end luxury community.

The record setter was at 1000 The Strand closing at $21,000,000.  This was a showcase piece of land with an older multi unit building.  Sitting on an oversized lot just 2 blocks from downtown and the pier, this oversized property offered stunning and unblockable views of the Manhattan Beach pier, the beach, and the coastline.  The 4 plex currently on the lot consists of a 4 bedroom “owners” unit along with 3 two bedroom units and almost 6,000 square feet.  The home closed escrow in May.  Originally offered in 2015 at $28,900,000 the home was featured in the LA Times as a potential record setter.

The second highest sale of the year was another legacy type property in the Manhattan Beach hill section at 814 Pacific.  This incredible estate sat on a 23,000+ foot lot which is massive even by hill section standards.  The challenge in Manhattan Beach is that even into the multi millions….you can’t have it all.  That’s not the case with 814 Pacific as it most definitely had it all…..large house, huge yard, big view, pool, sport court, gym area, 5 car garage, guest house…

The home offered almost 10,000 feet with the main home featuring 5 bedrooms and 5 1/2 baths with many of the rooms offering big ocean views.  The property also had a detached guest house with 1 bedroom 1 bath and a separate “man cave”.  Although the home is great, it’s the outdoor areas that truly make it spectacular.

There’s No Better Place to Beat the Heat than Manhattan Beach

The South Bay is often referred to as “the bubble” and that can mean a lot of things…..lifestyle, schools and certainly the weather. There’s no doubt that the weather impacts the home values and a weekend like this one makes it clear why. While we in the bubble hear about this heat wave, with tempatures well into the triple digits, it just couldn’t be nicer at the beach. With tempatures “cooking” us in the mid 80’s and ocean tempatures nearing 70, you just wouldn’t know that it’s hot just a few miles away.  From bikerides on the beach, to surfing and playing volleyball, to shopping and dining in downtown Manhattan Beach, there’s something for everyone.  While in town take a look at the Manhattan Beach open houses if you’re interested in finding out just what it’s like to live in this wonderful coastal community.

Happy Halloween!

From all of us at Manhattan Beach Luxury Real Estate, Keith Kyle Homes and Vista Sotheby’s International, we wishghost-and-spider you and yours a very safe and happy Halloween. The holiday’s are always a great time, and there’s no better place to celebrate than here in Manhattan Beach and the South Bay.

New Website for Fusion At South Bay Homes and Real Estate

By Keith KyleFusion_at_South_Bay_website

We’re happy to announce the launch of our website designed exclusively for the gated community of Fusion South Bay.  Fusion is a vibrant and active community that is just east of Manhattan Beach and offers newer construction at a fraction of the cost of Manhattan Beach.  The townhomes and condos in Fusion is an ideal option for those looking in nearby El Segundo, Manhattan, and Redondo Beach but want something newer and nicer for a reasonable price.

Visit FusionHomesforSale.com for the latest listings, recent home sales, floorplans, community maps and more.

An Abundance of New Construction Hits the Manhattan Beach Tree Section

By Keith Kyle756 36th

If you’re looking for new construction of the luxury variety and happen to fancy the Manhattan Beach tree section, you have plenty of options. Currently there are 6 new homes on the market with a number still to come that are at various stages of completion. Prices range from just over $3.2M for a 3300 foot Spanish inspired 5 bedroom at 3113 Walnut, to $4.8M for the ocean view “West Indies” inspired offering at 716 12th Street. The bulk of the homes are priced in the lower to mid $3.0M mark with the 12th Street home being the exception. 12th Street is priced higher due to the location closer to the beach, the larger lot, the ocean view and the fact that it enjoys almost 1000 feet more than the other homes.  Click here to view all of the current Manhattan Beach tree section homes for sale.

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Is Liberty Village – Manhattan Beach – Ready for $3.0M Homes?

By Keith Kyle

1631 19th Street sold at $2.725M

1631 19th Street sold at $2.725M

Liberty Village is a small area of East Manhattan Beach with primarily smaller, original homes built in the 1940s and 1950s.  This had always been the least expensive area or Manhattan and homes were often owned by engineers from nearby TRW (now Northrop Grumman).  Well times have changed and with lot values now over $1,000,000 even Liberty Village is a viable option for some big money buyers in Manhattan Beach priced out of the other areas.

Although still made up primarily of original homes, many of which have been extensively remodeled by owners or flippers, the area has seen a definite increase in new construction as builders have seen a much higher likelihood of yielding significant profits.  Lately numbers have skyrocketed and we’ve inched closer to the $3.0M mark which would have seemed unthinkable a year ago.

The highest sale was at 1631 19th Street which closed at $2,725,000 in June of 2015.

1304 Lynngrove Currently Listed at $2.99M

1304 Lynngrove Currently Listed at $2.99M

The listing at 1304 Lynngrove initially took that high water mark and then some.  Originally listed in February of 2015 for just under $3.2M the home has had a number of price reductions and is now listed at $2,999,900 which is still a huge number for Liberty Village.   It will be interesting to keep an eye on the ultimate sales price of this new construction home on a 5300 foot lot as it will likely set the bar for any and all upcoming new construction homes in the area.

We're sorry, but we couldn't find MLS # SB15245725 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

 

Foreclosures in Manhattan Beach?

By Keith Kyle

While Manhattan Beach was fairly well insulated from the market downturn and housing market collapse a few years ago, we have seen a few bank owned and preforeclosure properties lately.  Since July 1st there have been three “distressed” properties on the MLS.  These are not your usual foreclosures as prices are well over $1,500,000, but it’s still a very rare occurrence in this community of luxury homes and multi million dollar properties.

Manhattan_Beach_Foreclosures_2015

 

Currently there is only one short sale on the market located at 1127 5th St in East Manhattan beach.  Contact us if you would like to be updated with any of these rare foreclosure opportunities in the future.  To see a list of the foreclosures in other cities including Redondo Beach, Palos Verdes, Torrance and more.

Good Times at the 2015 Surf Festival

By Keith Kyle,2015 Surf Festival Manhattan Beach

One of the highlights of summer in Manhattan and Hermosa Beach is the annual Surf Festival.  Only in the South Bay can a festival include events such as the pier to pier swim (between Hermosa and Manhattan piers), surf contests, lifeguard competions and relays, paddle surfing, body surfing competition, sand castle competion, beach running races and the highlight of the event which is the Charlie Saikley 6 man volleyball tournament.  Always a fan favorite, the 6 man tournament offers both mens and women’s brackets with levels going from the “just out having fun” to teams composed of current and former pro volleyball players.  To add to the festive atmosphere many/most of the teams dress up in various costumes including the WWF team (that puts a wrestling ring around their half of the court), to the Lakers 2015 Surf Festival Manhattan Beachcomprised of former pros and even former LA Lakers.

In addition to the variety of competitons for adults, there are also a number of competitions for kids.  This is one of the most entertaining events of the summer.

Known as the “international surf festival” it truly is a global affair with athletes and lifeguards coming from as far away as Australia to compete.

 

612 John in the Manhattan Beach Hill Section

There’s generally compromise involved with South Bay real estate.  If you want to live near the beach you’re not 612 John Streetgoing to have a yard….if you want a bigger house you can’t live near the beach….if you want a pool you’re in the wrong city.  The home at 612 John, however, offers it all.  The home sits in the prestigious hill section with panoramic ocean views on a tremendous lot slightly under 10,000 feet.  In a town where a non ocean front home recently sold for $3,250,000 on a 1,372 foot lot…..10,000,000 is huge.  This has allowed some creativity and luxury amenities not possible anywhere else including a 7400 foot palatial estate with a detached guest home(both enjoying tremendous ocean views), a yard and a pool.  The home offers luxury features throughout.

We're sorry, but we couldn't find MLS # SB15090832 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

The number of homes for sale in Manhattan Village continues to trend upward while Manhattan Beach inventory remains low

By Keith KyleManhattan-Village-Estate-Home

The real estate market in Manhattan Village, the gated community in Manhattan Beach, CA, continues to buck the trend.  While the market in the other neighborhoods of Manhattan Beach has seen record low inventory, few new listings, and extremely high demand for both low end fixers and high end luxury homes, the housing inventory in Manhattan Village has reached near record highs.  The market has still been very active with appropriately priced homes quickly selling quickly but new listings seem to replace anything going into escrow.  I was asked recently by a client whether the higher levels of inventory is indicative of low demand and a less desirable location, but that’s certainly not the case.   It is a very different feel to the rest of the Manhattan Beach but the amenities of the community including numerous pools, 24 hour security, and exterior landscaping and maintenance draws homeowners looking or a greater sense of privacy.Manhattan-Village-Home-Sales

 

The chart to the left shows the number of homes for sale (light green), sold homes (dark green) and current homes “in escrow” (red line) for the past year.  The number of homes on the market in September, 12, was the highest inventory since 2010.

See the current Manhattan Village homes for sale