Coastal Elegance at 516 4th Street in Manhattan Beach

By Keith Kyle516 4th Street Manhattan Beach

One of the homes currently on the market (as of July 8th, 2016) that we really like is located at 516 4th Street in the Manhattan Beach sand section.  While not on a walkstreet the home sits on a quiet street and has the look and feel of a walkstreet location.  The home offers a coastal plantation style with a large front yard and patio offering a great mix of indoor/outdoor living.

We're sorry, but we couldn't find MLS # SB16089792 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

Another Big Month in Manhattan Beach Real Estate

By Keith Kyle612 John Street

January 2016 saw another impressive month of home sales and home prices in this luxury coastal community.  Althought median prices were down from the prior month, they were up from a year ago and demand continues to be strong.  Fewer new construction homes were sold this past month which has some concerned about the abundance of current and future new construction projects in Manhattan Beach.

Visit our sales page to see all of the recent home sales in Manhattan Beach and neighboring communities.

City Homes
Sold
January
2016 Median
January
2015 Median
Year
over Year % Change%
Carson 27 $415,000 $385,000 7.8%
El Segundo 8 $1,074,500 $799,000 34.5%
Gardena 28 $471,000 $399,000 18%
Harbor City 13 $500,000 $454,000 10.1%
Hawthorne 33 $457,000 $500,000 -8.5%
Hermosa Beach 10 $1,783,500 $1,680,000 6.2%
Lawndale 9 $450,000 $430,000 4.7%
Lomita 12 $420,000 $365,000 15.1%
Long Beach 241 $425,000 $406,000 4.7%
Manhattan Beach 22 $1,760,000 $1,675,000 5.1%
Marina Del Rey 16 $1497,000 $855,000 75.1%
Palos Verdes Estates 19 $1,272,000 $1,251,000 1.7%
Playa Del Rey 10 $574,000 $527,000 9.0%
Rancho Palos Verdes 38 $900,000 $1,015,000 -11.3%
Redondo Beach 66 $885,000 $802,000 10.3%
San Pedro 47 $465,000 $450,000 3.4%
Torrance 83 $632,000 $617,000 2.3%
Westchester 22 $880,000 $900,000 -2.2%

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.

 

It’s Not Hard To See Why Builders Are Buying Everything in Manhattan Beach

Whenever the real estate market is on fire, as it is right now in Manhattan Beach, the demand for luxury homes intensifies and builders are happy to take advantage of this dramatic increase in demand…..and why wouldn’t they?

It’s not hard to see why builders are scrambling to buy any fixer, tear down, or even the charming, but smaller, beach bungalow.  We’re seeing prices of new construction reach heights that would have seemed impossible not long ago and the usual constraints such as smaller lots, less than ideal locations, and even lot prices well beyond lot values don’t seem to matter.

Let’s look at a few recent properties:

750 30th Street in the Tree Section

750 30th Old 750 30th

 

Sold December 2013 (above left 1952 1138 ft bungalow on 5417 foot lot) at $1,552,000 and recently listed (above right 5 bed/5 bath 5000 sq feet) at $4,499,000

 

1905 Elm in the Tree Section 

1905-Elm-Old 1905 Elm New

Sold in May of 2013 (above left – 1952 beach bungalow) for $1,131,000 and currently in escrow (above right – 5 bed/5 bath 3111 square feet) with list price of $3,100,000

 

128 14th Street in the sand section  

128 14th Street -  2012 128 14th Street

Sold in April 2012 (1954 built triplex) for $1,950,000 and currently in escrow (4 bed/5 bath 4000 feet) with list price of $5,995,800.

 

433 Marine Place in the Sand Section

433 Marine Place Old 433 Marine Place New 432 23rd place

Very poor condition home at 433 Marine Place sold for $957,000 in March 2012.  Home was torn down with 2 new townhomes put on the lot.  Townhome at 433 Marine Place (3 bed/4 bath 2000 square feet) selling at $1,979,000….while second townhome at 432 23rd Street (3 bed/4 bath 1929 square feet) sold for $2,152,000

There are countless other recent sales and a number of new construction projects coming on the market in the next few months.

Call/text us at 310-251-2344 for more information or contact us with any questions.

 

New Construction in the Manhattan Tree Section

Currently under construction, this “Beach Plantation” style home located at 750 30th Street, in the tree section of Manhattan Beach is currently 750-30th-Street-Manhattan-Beachlisted at a pre-completion price of $4,499,000.  The home sits on an extra deep lot offering a layout and features not as common on the traditional lots. This luxury home will offer 5,070 square of living space and  features 5 bedrooms, 7 baths, 3 fireplaces, a 3-stop elevator, central air, 3-car garage, and a full basement with wine cellar and wet bar. The large south-facing backyard has a covered patio and an outdoor cooking island with built-in BBQ and fridge and is accessed from the large family room via ‘disappearing’ sliding glass doors that recess into the wall. Expected completion is March 2015.  Listing information provided by listing agent Sachi Fujita with Shorewood Realtors.  Call or text us at 310-251-2344 or contact us for more information on this beautiful home

We're sorry, but we couldn't find MLS # SB14225470 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

The photo is an artist’s rendering based on the architect’s blueprints and is not intended as a precise representation of the finished home.

Ocean View Off Market Opportunity at 220 35th St in the Manhattan Beach Sand Section

By Keith Kyle

We were recently notified about a spectacular home coming to market in September located at 220 35th Street in Manhattan Beach.  This is a modern masterpiece enjoying the best of all worlds including top of line finishes, fantastic ocean views, walk street location and inspired design.  The home will not be listed until September but according to the listing agent sellers will consider offers prior to listing.  The home is expected to be listed at $5,995,000 by Dave Fratello of Confidential Real Estate.  Contact us or call/text us at 310-251-2344 for more information or to set up a tour prior to the home going on the market.

Update:  This home sold off-market and is no longer available.

220 35th St. Manhattan Beach CA

Manhattan Beach Modern

This epic coastal modern home designed and built by Steve Lazar has everything for the luxury beach lifestyle: Ocean views and breezes, fabulous entertaining spaces and top-of-the-line everything.

Completed in 2008, this warm, custom-built property was elegantly upgraded post-purchase by the owners with designer finishes, custom lighting and audio systems, built-ins and a full-feature Crestron smart-home automation system (audiovisual,
HVAC, lighting, security and more).

Home Details:

Interior: 4br/5ba, approx. 4200 sq. ft.
Lot: 2700 sq. ft.
Built: 2008, upgraded by owners

Asking price: $5,995,000

Property on waiver. Sellers would review any offers before MLS listing.

 Information provided by Dave Fratello of Confidential Real Estate

Demand for New Construction Luxury Homes Grows in Manhattan Beach

By Keith KyleNew construction homes in manhattan beach

While builders took significant losses during the downturn that started in 2006 and 2007, things have certainly turned around since then.  Builders are clamoring for A+ locations in Manhattan Beach and have once again even started purchasing lots or tear down homes in less desirable locations.  Almost regardless of location and lot size, two long term deterents, buyers are clamoring for new construction and builders can barely keep up.

Of the 16 homes built in 2014 or scheduled to be completed in 2014 that have sold or are in escrow they averaged only 20 days on market which is truly incredible.  With a median price of just under $2.7M it’s not hard to see why builders are making every effort to tap into this incredible demand.   These statistics are based only on the homes that went to market and many have been sold before even making it to the MLS as pocket listings and exclusive offerings.

The 5 current new construction homes come in with a median price of $4.7M.

With the coastal charm, proximity to downtown LA and Hollywood,  almost perfect weather, and nationally ranked schools, Manhattan Beach has become an even higher demand market for the luxury home buyer.

If you are looking for both on market and off market new construction homes in Manhattan and Hermosa Beach contact us at any point.

  1. 5 beds, 4 baths
    Home size: 3,250 sq ft
    Lot size: 4,646 sqft
  2. 6 beds, 8 baths
    Home size: 4,410 sq ft
    Lot size: 2,700 sqft
  3. 5 beds, 6 baths
    Home size: 4,289 sq ft
    Lot size: 3,340 sqft
  4. 5 beds, 6 baths
    Home size: 4,302 sq ft
    Lot size: 2,698 sqft
  5. 4 beds, 5 baths
    Home size: 4,200 sq ft
    Lot size: 2,698 sqft

See all Real estate in the city of Manhattan Beach.
(all data current as of 12/16/2017)

Listing information deemed reliable but not guaranteed. Read full disclaimer.

With Builders Buying Everything in Manhattan Beach…is there anything left for Buyers?

By Keith KyleEast Manhattan Beach homes

There is no question that due to the incredible rise in prices and the demand for new construction luxury homes, Manhattan Beach is definitely in a full blown building frenzy.  Any original bungalow or “starter” home is quickly bought by builders with all cash, non contingent offers  This was similar to the environment from 2005-2007 and it adds to the already challenging environment for home buyers.

So how is a buyer to compete?

The solution is to either be very patient, or very aggressive with offers and offer prices.    In a seller’s market it always poses a real challenge to buyers but when builders begin buying all of the lowest priced homes, it adds an entirely different pressure on the market.  Builders are generally fairly cautious with their numbers and unwilling to overpay, but in a market in which new home prices are beyond record levels, builders are willing to take risks on even marginal properties.

Home buyers do have the ability to come to the negotiating table with a different perspective, however.  This ability to consider long term aspects may be the one advantage that they have.  Home buyers in this luxury coastal community may need to overpay somewhat but can take confidence that even when the bubble burst several years ago, prices did not drop severely.

Recent Lot Sales in Manhattan Beach

By Keith KyleConstruction Site

There’s no question that builders have jumped wholeheartedly back into the luxury market of Manhattan Beach as prices have soared and seem poised to continue so for quite a while due to the low inventory and pent up demand.  Recent prices on new construction homes and even flips have surprised even the most optimistic and it’s not surprise that many original condition homes and fixers are being sold for lot value.  Most of these sales are to builders but that’s not always the case as many buyers are willing to build their dream home and pay a premium over what builders are willing to pay.  I wanted to thank Mike Michalski from South Bay Brokers for putting this list together.

LOT SALES
Address                          Size    (WxH)               Orientation                           Price                 Sale Date
750 35th St                  5406   (40 x 135)          South-facing, Interior       $1,120,000        10/9/2013
1905 Elm Ave             4480   (40 x 112)           West-facing, Interior        $1,131,500         5/8/20 13
3113 N Poinsettia       4640   (40 x 116)           West-facing, Interior       $1,140,000      10/18/2013
717 25th St                   5120   (40 x 128)          North-facing, Interior      $1,150,000          5/8/2013
Busy intersection
605 25th St                 5121   (40 x 128)           North-facing, Interior       $1,250,000       4/12/2013
1313 Pine Ave           4480   (40 x 112)            West-facing, Corner          $1,300,000       In Escrow
1600 N Poinsettia   4200   (37.5 x 112)          East-facing, Interior         $1,350,000+
2900 N Ardmore     7500   (75 x 100)            South-facing, Interior       $1,350,000         4/17/2014
Busy street
2409 N Poinsettia   4480   (40 x 112)            West-facing ,Interior         $1,400,000        4/16/2014
2517 Laurel Ave       6867   (63.5 x 108)        West-facing corner             $1,400,000         3/5/2014
750 30th Street        5400 (40×135)               South-facing, Interior        $1,515,000         12/4/2013
636 12th Street         3000 (30 x 100)            South-facing, Interior        $1,589,000       10/17/2013
Possible view, Am Martyrs
3311 Elm Ave            8793   (irregular)          West-facing, interior          $1,611,000          9/18/2013
1804 Agnes Rd        4800   (40 x 120)           East-facing, interior            $1.700,000          5/22/2013 Private party
American Martyrs
738 29th Street       4800   (40 x 120)          South-facing, Interior          $1,750,000         3/31/2014
677 19th Street         9631   (Irregular)         North-facing, Interior          $1,850,000       4/11/2014
Some downslope, Am Martyrs
3309 Walnut Ave     9287   (80 x 116)           West-facing, Interior           $2,050,000      12/24/2012 Double lot
544 Marine Ave        5885   (60 x 99)             South-facing, Interior         $2,250,000       5/14/2013
Double lot
3312 N Poinsettia     9282   (80 x 116)           East-facing, Interior            $2,350,000       1/29/2014
Double lot, some downsloping
524 15th St                  6311  (50 x 125)         South-facing, Interior           $2,500,000       8/13/2013
Some view potential American Martyrs