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Santa Monica Dirt

Posted by John Hathorn on November 15, 2016
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Santa Monicans like most Americans are still in a state of shock having been stunned by the election results – aside from the Presidential race, the fact that Luv lost and legalizing weed won surprised most of the locals that I have spoken to.

Interest rates have climbed slightly but most real estate professionals, Buyers and Sellers predict business as usual in the near future.

Several new listings in the past 3 weeks have come to market:

2020 San Vicente Boulevard – Tuscan style on an 11,000 square foot lot.  5 bedrooms, 6 baths. The list price is $5,595,000.  Remodeled kitchen with top-of-the-line appliances, expansive sun-drenched family room..  Ideal floor plan with 4 en-suite bedrooms up with 5th bedroom that could be maids/gym, library/office.  Features terraces, pergolas, outdoor barbeque grill, 2 lounging areas, 3 car garage.  Franklin School District. Last sold for $500,000 in December 1986 and makes my 215 21st Place listing look like the steal that it is at $4.7M

463 18th Street – hit the market 4 days ago.  2-story Mediterranean over 5,700 square feet on 8,949 square foot lot.   5 bedrooms, 5 baths. The list price is $5,900,000. Very similar to my 215 21st Place listing (same architect) Features step-down living room, hardwood floors, formal dining, butler’s pantry.  Great layout, 4 large beds up and 1 en-suite down with an office.   Last sold for $4,264,000 in September 1999 and further supports the fact that our 215 21st Place listing is a legal steal that it is at $4.7M

524 11th Street –  Very eclectic architectural design – 4 bedrooms and 5 baths on a 7,494 square foot lotList price is $4,900,000.  Incorporates international style with elegant Moorish accents. Last sold for $856,000 in December 1998.

 130 Foxtail Drive –  Fully priced development opportunity north of San Vicente.  4 bedrooms and 3 baths on a large 10,870 square foot lotList price is $4,695,000.  Beautiful treetop and ocean views in upstairs bedroom. Perfect opportunity to upgrade and remodel.  Last sold for $850,000 in March 1997.

524 Lincoln Boulevard –  2 bedrooms and 2 bathsList price is $3,099,000.  Beautiful English Cottage with remodeled kitchen on a 7,493 square foot lot.  Park-like setting in backyard with mature fruit trees.  Expand, remodel or build new. Last sold for $770,000 in May 1988.

New Sales Now Under Contract:

602 Palisades Beach Road 7 bedrooms + 7 baths.  $14,000,000. Oversized 11,000 square feet lot of beach front land.  Once owned by Samuel Goldwyn with a rich Hollywood  history. Great location with around 59 feet of beach front.  The property is approx. 5,000 square feet with 2 structures, 3-car garage, additional guest parking.

234 Marguerita Avenue –  Not surprising that there were multiple offers on this land value lot listed for about $416 per sq ft. The (insignificant because it will be torn down) house is a 4 bedroom, 4 bath. The list price is $5,200,000. Popular location – West of 7th Street. The lot is a spacious 12,562 sq ft and it is just half a block from Ocean Avenue.  Definitely, a one-of-a-kind developer’s dream lot and location. Last sold for $185,000 in May 1975!

312 16th Street –   4 bedrooms and 4 baths listed at $4,995,000.  Huge price but apparently worth it by virtue of the fact that this sold very quickly last week. Elegant with 1920’s beauty and charm.  Open floor plan with wide plank oak floors, original 1920’s wrought iron banister leads upstairs.  Large grassy yard with guest cottage and kitchen.  3-car garage or bonus studio.  Last sold for $1,650,000 in June 2001.

327 18th Street – is 3 bedrooms, 3 baths asking $3,700,000.  My office sold this as a land value project for less than $3.6M. Buyer plans to do a major remodel / addition. Closes Dec 7.

609 11th Street –  Listed by Pence Hathorn Silver for $3,195,000. Very charming original Spanish 3 bedrooms + 1.75 bathrooms almost 2,300 square feet.  Features original detailing, step down living with beamed ceiling, tile fireplace, large dining room.  Large detached guest room with kitchen. Last sold in January 1995!

319 11th Street – is 2 bedrooms, 2 baths reduced to $2,825,000 from $2,950,000.  3 days after the price reduction, this listing went into escrow. Great investment opportunity to renovate or build new!  Estate/Trust sale.  Last sold for $800,000 in December 2000.

555 26th Street –  Wonderful opportunity to develop or build new.  1 bedroom and 1 bath listed at $2,095,000.  Close to Brentwood Country Mart and Montana Avenue.  Large almost 10,000 square feet lot.  Can be purchased individually or together with 661 Moreno Avenue.  Last sold for $1,620,000 in May 2012.

Closed Sales:

455 21st PlaceClosed escrow.  6 bedrooms and 9 bathrooms.  $6,450,000.

421 23rd Street Closed escrow with sold price of $5,685,000. Listed by Pence Hathorn Silver. 5 bedrooms and 6 bathrooms.

922 San Vicente Boulevard Closed escrow.  5 bedrooms and 3 bathrooms.  $3,050,000.

443 Euclid Street – Closed escrow with sold price of $3,400,000.  Listed by Pence Hathorn Silver. 3 bedrooms and 2 bathrooms.

Call me for a couple of upcoming attractions that are not yet listed in the MLS, priced from $1.9 million to $8 million.  And….here are a few that we have listed in the MLS:

1024 Palisades Beach Road – 5 bedrooms and 8 baths $9,250,000

323 Adelaide Drive – 4 bedrooms and 6 baths $6,895,000

920 Alta Avenue – 6 bedrooms and 6.5 baths $6,595,000

215 21st Place – 5 bedrooms and 4.5 baths $4,695,000

1012 2nd Street Unit# 2 – 3 bedrooms and 3.5 baths $3,488,000

1023 S. Bundy Drive – 2 bedrooms and 2.5 baths $2,049,000

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