The 100 block is one of the most desireable locations in all of Southern California. Huge ocean views without the traffic of a strand home. Majority of the properties on the 100 block are situated on a full 30X90 lot with a north/south orentation. Let's take a look at the all of the properties that have traded hands thus far on the 100 block this year.
128 18th St Manhattan Beach, CA: Situated on one the most desirable walk streets north of the pier. This ocean view north facing spec, was recently built in 2012 with approximately 4,000 square feet.
With a short walk from the downtown, 128 18th St features 5 bedrooms, 5.5 baths, two family rooms, and two over-sized balconies with pocket Nano doors. Sweeping ocean views from Catalina to Malibu and sit down white water views from the walk street patio.
Closing yesterday (July 20) for $5,650,000 at $1,412 SF makes this the second highest sale year to date on the 100 block. It was originally listed for $6,100,000 with a Ferrari in the garage as a buyer incentive. Wonder if the new owner got that car in the garage.
128 5th St Manhattan Beach, CA: The listing agent said it best, "Exquisite Custom Designer Residence that exemplifies the Southern California Luxury Beach Lifestyle." And that's exactly what we got.
This property was built and purchased as a spec in May of 2011 for $5,250,000 after sitting on the market for 299 days. Last years market was definitely softer as we saw many trophy properties like this sit. But not this year.
After a quick 60 days this property found a bidder and ultimately ended up closing this one on June 14th for $5,850,000. That's $1,382 SF, pretty much right in line with 18th St. The property was originally listed for $6,799,000, fully furnished with over $2,000,000 in additional improvements by renowned Chicago Interior Designer Tom Stringer. This lot traded hands in 99' for $1,050,000; those were the days.
After looking at these two new build spec sales, it's safe to say the new price for 100 block new construction in Manhattan Beach is gonna cost you around $1,400 a foot.
100 Block Lot Sales: Manhattan Beach, CA
There were two dirt sales on the 100 block in the north end of Manhattan Beach that were publically announced on the MLS. These two properties included 121 32nd St and 117 30th St, both south facing.
121 32nd St Manhattan Beach traded hand in May for $2,705,000. This walk street lot was on a full 30X90 lot and was a legal duplex. I'm sure the new owner is going to tear this one down, sooner than later. Picture of this one on the right.
117 30th St was purchased for $2,549,000 by the seller of 128 18th St, a local real estate broker. Probably in hopes of doing another spec build to sell.
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Manhattan Beach Walk Street: 100 Block