With Westside real estate prices at all-time highs, people have once again been asking me “who are the people buying all these expensive properties?” I answered that question back in May of 2019 and here is my update for 2022.
Buyers of some of our recent transactions include:
A financial services executive who closed last week on an Ocean Avenue, North of Montana, penthouse condo that was listed for $10.5M.
A first-time home buyer real estate investor and his young family bought a small fixer in Pacific Palisades from us in the upper $2M’s.
We have a 7-unit apartment building in the Sunset Park neighborhood of Santa Monica under contract for a little less than $3M with an immigration attorney/real estate investor.
A YouTube executive and his wife who runs a financial service start-up just closed on a $4.2M starter home North of Montana Avenue on a 7,500 soft lot.
A Brentwood home I listed went to a doctor for $4.3M.
We sold an 11,000+ lot in the Santa Monica, West of 4th Street, neighborhood (the house was considered a tear-down) for $5.3M to a commercial real estate executive who will spend an additional $2.5M building a home for himself and his family.
A real estate developer bought property in the West of 7th Street neighborhood, North of Montana Avenue, for $5.4M and will build a spec home that should be ready before the end of the year.
We sold a little condo North of Wilshire in Santa Monica (which never hit the market) for just under $900K to real estate investor parents for their child.
A $4.1M home in Gillette Regent Square, North of Montana Avenue, went to a dentist.
A Santa Monica Canyon home with ocean and canyon views was bought for $5.2M by a semi-retired NorCal attorney.
Another Santa Monica Canyon sale with partial ocean views was to an entertainment executive for just over $3.6M.
A third Santa Monica Canyon sale for $5.125M was to a nutritional supplement CEO. By the way, did you know that Santa Monica Canyon is not in Santa Monica?
An 8-unit apartment building in Culver City was bought by a retired attorney/real estate investor.
We sold an older starter home in Brentwood, North of Sunset Boulevard, for nearly $5M to a young CEO of an apparel start-up.
An interior designer and her restaurateur husband bought a beautiful fixer-upper, near Georgina Avenue, for $5.3M from us.
We sold a near-new single-story home for $4.85M, on an A+ street, North of Montana Avenue, to an attorney and her partner. They were coming out of a townhome here in Santa Monica.
A home near our 14th Street office on Montana Avenue went for $5.4M to a well-known musician.
We sold a beautiful corner lot property, North of Montana, home for nearly $8M to a financial services executive.
We sold a brand-new spec home in Venice’s Silver Triangle to a healthy snack food CEO for $3.3M.
An expanded, authentic, 1920s Spanish home on a 60’ wide lot between Marguerita Avenue and Georgina Avenue went to an architect. It sold in a bidding war for $4.7M.
An entertainment attorney bought a small bungalow near the arts section of Santa Monica from us for around $1.7M.
We sold a $6.3M Pacific Palisades home in the Alphabet Streets, near the Caruso shopping center, went to the co-developer of an App and her family.
We sold a large, new development home to an international Buyer, who didn’t see their $9.4M+, North of Montana Avenue, home in-person until after the close of escrow.
A handful of Buyers and Sellers came from, or went to, Texas and a smaller number of Sellers moved to the Midwest.
Did you notice a theme here? Legal eagles, tech, entertainment, and real estate people are buying these valuable assets as quickly as they can be found.
In 90402 real estate news
There are just 10 active listings North of Montana –
331 Palisades Avenue– Listed at $11,995,000. Restored 1913 French Colonial on a corner lot- almost 17,500 sqft with pool and guest house. This house is registered under the Mills Act which has some tax advantages for a new owner. Last listed, but not sold, back in 2011 for $5,500,000.
1707 San Vicente Blvd– Listed for $22,000,000! An old John Beyers Spanish style fixer on a huge (nearly a full acre!) lot overlooking the Riviera Country Club. Super eclectic, boho-chic, styling with beautiful views around every corner. First time on the market since 1958.
825 Woodacres Rd– Reduced to $12,999,000 from an original list price of $14,950,000.
808 Woodacres Rd– Re-listed at $14,250,000 and was last on the market in September of last year for $18,000,000.
835 San Vicente Blvd– Reduced to $19,995,000. Originally listed in August of last year for $23,950,00.
435 Georgina Avenue– Reduced to $8,995,000. Originally listed in September of last year for $9,800,000.
443 Euclid Street – Listed for $4,950,000. Last sold in 2019 for $3,200,000, this is a huge increase in asking price in just a few years. Pretty original main house with a renovated 1 bedroom guest house over the garage.
723 21st Place – Listed for $4,700,000. Nicely updated 2,500 sqft house, move-in ready with a pool. Last sold in 2017 for $3,660,000.
707 11th Street – Listed for $6,495,000. Totally renovated, open concept architectural with a pool and killer guest house above the detached garage. Last sold in 2018 for $4,188,000.
401 17th Street – Listed for $3,490,000. Trust sale, priced at lot value for this 1920s Cape Cod on an 8,976 sqft corner lot. This house is on the Santa Monica historic inventory list.
6 are under contract –
710 25th Street– Listed at $4,495,000. Architectural 4bdrm home, just over 3100 sqft and ready for updating. Last sold in 2000 for $1,330,000.
247 19th Street– Listed at $9,995,000.
721 16th Street– Listed at $3,899,000.
614 12th Street– Listed at $3,700,000.
308 14th Street– Listed at $4,300,000.
428 10th Street– Listed at $3,150,000.
18 sold since my last update-
111 Winnett Place– Sold for $8,000,000. Originally listed at $7,500,000.
709 22nd Street– Sold for $7,100,000. Originally listed $6,849,000.
408 18th Street– Sold for $7,500,000. Originally listed at $6,498,000.
816 San Vicente Blvd– Sold for $5,800,000 (original list price).
711 21st Place– Sold for $6,955,000. Originally listed at $7,495,000.
207 Palisades Avenue– Sold for $7,080,300. Originally listed at $6,295,000.
547 16th Street– Sold for $7,325,000. Originally listed at $6,450,000.
721 25th Street– Sold for $3,695,000. Originally listed at $2,975,000.
413 Euclid Street– Sold for $3,450,000. Originally listed at $3,450,000.
419 22nd Street– Sold for $7,650,000. Originally listed at $7,950,000.
207 Palisades Ave – Sold for $7,080,300. Originally Listed for $6,295,000.
2202 La Mesa Drive – Sold for $7,400,000. Originally listed for $7M.
713 Georgina Avenue – Sold for $6,204,650. Originally listed at $5,799,000.
628 Euclid Street – Sold for $3,600,000. Originally listed for $3,695,000.
222 Alta Avenue– Sold for $8M. Originally listed at $7,695,000.
516 4th Street– Sold for $6,725,000. Originally listed at $5,995,000.
722 25th Street– Sold for $4,185,000. Originally listed at $3,498,000.
501 19th Street – Sold for $5,025,000. Originally listed at $5,195,000.