|Manhattan Beach CA Pier on day of 10K Race|
If you have never been to the South Bay Beach Cities and are not familiar with the "Strand" here's a little bit of background to get started.
A paved path, called The Strand, runs along the coastline from Torrance Beach in the south approximately twenty miles north to Santa Monica and stops at about Pacific Palisades. There are beachfront ocean view homes along The Strand in Manhattan Beach and Hermosa Beach CA.
Northward from Manhattan Beach there are no beachfront homes in El Segundo CA but you will find beachfront housing in Playa Del Rey and other coastal communities.
In South Redondo Beach, the closest that you can own a home to the oceanfront is on "The Esplanade" which in general is set further back than The Strand. The bike and walking path continues after the Redondo Pier but not the houses.
People may confuse The Strand with a "boardwalk." The Strand is not considered a "boardwalk," because it is not made out of wood boards.
So if it is still not clear where the Strand is, just head down to the end of Manhattan Beach Blvd. You see the path with the amazing houses directly facing the ocean? Those homes are on The Strand.
Other than the absolutely un-obstructable ocean views, what makes Strand homes so unique is that they literally are "on the beach". Other beachfront property in LA County is not quite this much on the beach may be further set back - with the exception of Malibu CA where homes may actually have waves breaking beneath the houses.
In any case, this is some of the most desirable and expensive real estate in Southern CA. While many buyers prefer to be south of the Manhattan Beach Pier and some even prefer North Hermosa "between the Piers" to let's say El Porto in Manhattan Beach, let's face it, it's all good. Very good.
During 2015 there have been 3 sales on The Stand in Manhattan Beach. As of this blog post there are 2 additional properties in escrow on The Strand and 5 active listings.
Let's take a look at what's going on.
CLOSED SALES ON THE STRAND MANHATTAN BEACH
3716 The Strand Manhattan Beach CA. Listed for $5,899,000 and sold for $6,000,000. 9 bedrooms, 6 bathrooms with a 3 car garage. 4211 SqFt house on a 3503 SqFt lot. Listed and sold by Shorewood Realtors. Was purchased for cash by a LLC so I would not be surprised if it is being developed. At that price would make a lot of sense to just build something new. Closed escrow February 2015.
Per the listing agent in the MLS:
"Stunningly situated along the sparkling Pacific Ocean in North Manhattan Beach, this amazing Strand property sits high above the bike path, providing incomparable 180-degree views. Imagine the sunsets & ocean breezes you’ll enjoy from any of the home’s 3 breathtaking balconies. Indeed, views abound from all three spacious units of this classic coastal triplex, each of which features 3 bedrooms, 2 bathrooms, & ample parking for 2 cars. Each unit has been impeccably kept & the upper unit features an oversized deck that serves as an outdoor living room! It’s an amazing opportunity for you to live in one premium unit while renting out the other two for an impressive built-in income. With its extraordinary views, prime location and 3,500+ square foot lot, this postcard-perfect property is also ideal for custom new construction. Just steps from the sand & the bustling beachside enclave of El Porto, where you’ll find surfing, swimming, paddling, biking, jogging, walking, & volleyball—it’s all right there in your front yard. A short walk or bike ride away is famous downtown Manhattan Beach, full of chic shops, restaurants and nightlife. Of course, a unique property like this offers luxurious options beyond rental income. This is beach living at it's best!"
4414 The Strand Manhattan Beach CA. Listed for $6,950,000 and sold for $6,475,000. 9 bedrooms, 6 bathrooms 4401 Sq Ft on a 3278 SqFt lot. Listed and sold by Shorewood Realtors. Also bought for cash by what looks to be an investor builder. Closed escrow April 2015.
Per the listing agent in the MLS:
"A Rare opportunity to live on Beach front property with a bonus separate income property This one of a kind magnificent Manhattan Beach Strand home sits 8 feet above the Strand with just sand between you and the incredible blue Pacific Ocean. This modern 3 level house has been renovated throughout - new plumbing, heating, electrical, and flooring. Custom kitchen and bathrooms are currently being installed. There is still time to customize your own cabinets and tile in this bright living space. This home also boasts an unmatched 6 car garage and a separate 3 bed 2 bath living quarters with private balcony above. The newly remodeled exterior has four large ocean front patios that stretch the entire width of the property, perfect for relaxing, entertaining on the strand, and just living the beach life! Situated in front of one of the best and most desired surfing spots for miles around! Come enjoy your stunning new home next to one of the 3 fireplaces watching sunsets set into the ocean as far as the eye can see. Located in a super friendly neighborhood with easy access to LAX, Silicon Beach, the 405 and 105. "
304 The Strand Manhattan Beach CA. Listed for $14M and sold for $14M in 7 days "all cash". Considering the listing agent marketed the property as priced at "lot value" expect to see something new there to replace the 3 bedroom 3 bath 2829 SqFt house built in 1952. Great location between the Manhattan Beach and Hermosa Beach Piers. Closed escrow July 2015.
So, what can we learn from these 3 Strand sales? To me the only conclusion would be that up until around July only investor/builders had an appetite for these listings. So it is not surprising whatsoever that the 2 properties in escrow on the Manhattan Beach Strand are both new construction.
IN ESCROW MANHATTAN BEACH STRAND
808 The Strand Manhattan Beach CA. This is interesting because it is an ocean front condo/townhouse.
|Condo for Sale on The Strand in Manhattan Beach|
But if you want your own SFR on The Strand expect to spend more, a lot more. This one actually had a price INCREASE of $1M.
104 The Strand Manhattan Beach CA. This should explain why builders are paying $6-8M for lots.
ACTIVE LISTINGS ON THE MANHATTAN BEACH STRAND