A recent home sale saw a buyer get a great deal on a very unique home. 3004 The Strand was a “historic” home with a very unuusal layout, design and configuration that closed escrow in June 2020 at a price significantly below the list price. It was listed at $9,495,000 and closed at $7,000,000. It may not be a coincidence that it’s one of the few beachfront home sales in the past year. It hadn’t been on the market (especially in relation to most current beachfront homes on the market) long but sold at a significantly lower price.
It’s been a while since the last beachfront home in Manhattan Beach closed escrow, but that just recently changed with the sale of 2304 The Strand. This was basically a lot value sale and had been on an off the market for some time with a number of price reductions. Originally listed in January of 2019 for $9,950,000 the price was reduced $8,999,000 in July, then $8,250,000 in October, to settling at $7,950,000 in November. It’s not unusual for most Strand homes to sell for way below original list price (in large part to not being priced in line with value originally) but this was an almost 25% drop from list price. The two most recent sales on the beach have both been tear down/lot value sales. The prior sale was at $8,525,000 for 3212 The Strand.
2304 The Strand, Manhattan Beach
By Keith Kyle
I’ve written in the past about just how rare and valuable oceanfront homes in Manhattan Beach are. Nothing has changed in that regard as prices have actually reach stratospheric levels and simply put, the number of homes on the beach is limited and always will be. They may rebuild some of them, but there’s no room to build new homes.
Having said all of that it’s fairly amazing that over a quarter of the homes available in the sand section of Manhattan Beach are located on the oceanfront street known as The Strand. A few years back it would have been difficult to find a single Strand home for sale. Now there are 11 and most are staying on the market for quite a while. The primary reason for this is that most Strand home sellers are asking for fairly unbelievable prices for their homes. While there’s always a demand for luxury oceanfront homes even the higher end luxury home buyers are priced out of this neighborhood.