After 9 closed sales in total in 2014 and 2015 there are now ten properties listed in the MLS and one in escrow. Land value and SFRs for what is currently available start at $7.5M and top out at $28,500,000. (Well there is a condo for $2.987M).
So with more listings available for sale today than actual sales over the past few years, a few things came to mind not the least of which is "when is that next Powerball Drawing?".
Seriously, because with this much money at hand this has to be serious, right, I was curious as to how Manhattan Beach Strand prices and sales activity stacks up against let's say Hermosa Beach, Venice, Santa Monica, and Malibu CA. Do you get more or less for your money other considerations aside.
And no doubt there are a lot of other considerations aside. Many of us love the laid back lifestyle and overall convenience of living in Manhattan Beach. But for those who need to be closer to work, wherever that may be, or want more land, or some other amenity, it is a matter of personal preference. And if you are fortunate enough to be able to purchase in this price range you certainly get that choice.
So let's look at what approximately $20M, gets you in Manhattan Beach and elsewhere. You don't have to spend that much to buy on The Strand or as you will see beachfront in other parts of LA but it is a fun comparison. And since this is my blog, I get to have fun.
For the current Manhattan Beach Strand listings you'll have to scroll down to the bottom of this post after the break. That's just my clever way of getting you to look at the entire article!
|108 The Strand Manhattan Beach CA|
So what can I get in for $20M in Venice CA?
As it turns out nothing because the most expensive beach front listing at 2705 Ocean Front 90291 is on the market for $10,500,000 after having been reduced from an even $12M. To be fair, it is a "mere" 3849 SqFt on a 2520 Sq Ft lot with 3 bedrooms and 3.5 baths. But still priced at almost $3000 SqFt. Well $2728 in actuality.
Here's how the listing agent describes it in the MLS:
"Brand new one of a kind coastal contemporary home on Venice Beach designed by notable Newport Beach architect Ian Harrison. Walls of glass create an indoor-outdoor feel with unobstructed ocean views from Malibu to Venice Pier. Interior features include French Limestone & Walnut floors, 4-stop elevator, and much more! The kitchen contains a custom built-in breakfast nook, Thermador appliances along with walk-in pantry & built-in Thermador Coffee & Espresso maker. The ocean front master bedroom suite enjoys its own level which includes a fireplace, ocean front balcony, walk-in closet, cozy den, separate laundry room, and master bath with Calcutta marble, steam shower with blue tooth audio & jetted soaking tub. Two guest suites each with their own bath and private balcony are secluded in the rear of the house. A large ocean view rooftop deck with stone fireplace, built-in barbecue and adjacent interior kitchen with sink, fridge, ice maker, dishwasher complete the experience."
Follow this link for the listing.
|2705 Ocean Front Venice CA 90291|
Moving further north along the coast to Santa Monica we have 1020 Palisades Beach Road 90403 for $16.5M. This 6130 SqFt house sits on an 8570 SqFt ocean front lot.
"Classic 7 bedroom Spanish 1928 Spanish Colonial revival oceanfront estate on Santa Monica's Gold Coast was originally built in 1928 for silent film star Norma Talmadge and was a hangout for the Hollywood elite. This home has been lovingly updated with the modern conveniences while retaining the old Hollywood ambience by Molori Designs (@Molori). Situated on an extra large 45 beachfront lot, this home has two luxurious master suites on the water, two living rooms, large dining room, sun room, four fireplaces, large pool and much more. A short Uber ride to the best shopping and dining in Los Angeles. A bike ride to the pier or Abbot Kinney. Truly the best of LA."
Wow. A bit of history there and truly a remarkable home. Follow this link. MLS 16101042
|1020 Palisades Beach Rd Santa Monica CA|
By the time we get to Malibu CA, the $20M price point is kind of middle of the pack. Well at least when the top "listed" property is at $75M and let's face it many of these homes change hands "off market" and you never know about them until you read the celebrity story in the LA Time or Curbed LA.
For a cool $24,000,000 (reduced from $25M) you can get a 6000 SqFt home built in 2008 with 6 bedrooms and 7 baths. It is on a 15,000 SqFt lot but last I checked there's just more land out there than in Manhattan Beach. So now we're up to $4,000 SqFt for the house.
Here's the MLS description of 31412 Broad Beach Rd, Malibu 90265.
"This Malibu luxury beach home offers an exceptional living experience. Designed and furnished by Waldo Fernandez, this home has breathtaking whitewater and coastline views from nearly every room. 6 bedrooms and 7 bathrooms complete with large chef's kitchen, opening to a massive outdoor entertaining deck with fireplace that overlooks the ocean views. Expansive master suite with dual baths and dual closets, private deck and separate sitting room or office. Family room opens to impressive infinity pool and spa, seemingly cascades into ocean, located one level above the sand. Elevator service for each level, as well a professional training gym, and theater room with movie seating. Come see this masterpiece on the sand."
MLS 15886355. Follow the link.
|31412 Broad Beach Malibu CA|
Let's wrap up closer to home with good ole Hermosa Beach CA.
Best we can come up with here is $16M for new construction at 1540 The Strand Hermosa Beach CA.
5000 SqFt house at about $3200 SqFt on a 4160 SqFt lot in a great A+ location.
"This ultra-modern beachfront masterpiece located on a corner lot at 1540 The Strand in Hermosa Beach is currently under construction, due for completion summer 2016. When complete, it will feature a Strand level Recreational Beach Room w/full bar & panoramic doors opening West & North. The 1st floor will feature an ocean front master suite w/his & hers walk in closets + 2 additional guest suites, while the upper level living spaces will offer panoramic ocean views from the entertainer’s kitchen, walls of disappearing doors, an upper level outdoor kitchen, family media lounge, & ocean view dining. The home will be completed w/signature finishes that make this unique property turn-key for the discerning high-end buyer, with built-in customization throughout & the latest in home automation systems, property security systems, trend setting designer finishes & home efficiencies. The corner influence on this exceptional 52' x 80' lot allows for expansive beachfront indoor/outdoor space w/hard-scaped social area centered around a gas fire feature, custom outdoor kitchen, oceanfront sun patio & large outdoor dining area. This distinctive home is available now for pre-completion purchase which will allow for owner customization of finishes. Parking for 6 on-site!"
And as promised here's the active Manhattan Beach listings:
Got any questions? Just give me a call. 310 975 5139.