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Santa Monica Dirt: Bus Stop Bust

Posted by John Hathorn on July 11, 2014
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Have you seen the ridiculous new Santa Monica Big Blue Bus stops along Montana Avenue over the past 2 weeks? North of Montana Santa Monica 424 15th

What a joke! When I saw them installed but not yet unveiled I thought for sure that the disc on top was a solar panel – there is no way it could be construed as shade or shelter from the sun or rain. A solar panel I thought would power a digital display that would give riders info about their bus. How cool would that be? A message that says “Bus # 3 to Lincoln Blvd is running 5 minutes late,” or whatever. The technology has been around long enough and certainly the BBB dispatcher has automatic real-time info on which bus is where at all minutes of operation.

Sadly, this is not the case. The disc on top does nothing more than shade a few inches and only if you stand in just the right spot. The seats are uncomfortable and there are only 2 of them on the stops I have seen. Oh well, so much for a tech savvy, silicon beach Santa Monica bus stop.

Supposedly, frequent bus riders were polled to see what was important to them. The response- shade, shelter, seating, light and bus info. Ummm…..? A google search revealed that this upgrade cost the Feds apx. $7 million.

What do you think? Did Santa Monica miss the mark?

Here is your up to the minute real estate market info:

There are 16 properties available to buy North of Montana Avenue. A few hit the MLS this week: 424 15th St., 523 11th St., 444 21st St. and 410 Lincoln. Twelve are currently under contract and there are 30 closed sales year-to-date with 601 17TH St. closing (listed by Pence Hathorn Silver).

Lot value and new construction properties remain the hot segment of the market. My office gets calls almost daily from brokers, developers, investors and buyers asking if we have any land value properties that we can steer them to.  If you, or anyone you know, has a property that they have had any thoughts of selling, please call me or forward this to them. This might be the best time in the history of organized real estate to sell a home.

Who do you know that might want to explore this?

New Listings this Week

424 15th St. –   4bd + 4ba.  $4,490,000.   Almost 5,400 sq ft of livable space. Contemporary design. Far enough away from San Vicente and Montana Ave but close enough to walk to shops and restaurants. 15th is a very quiet street that does not cut through San Vicente. This home was offered for sale a few years ago and failed to sell. I predict this time it will.

523 11th St. –   4bd + 4ba.  $3,150,000.   This older J. Charles design is showing its age but some lucky buyer will have no trouble finding ways to make it pop again. Magnolia tree lined street. Open floor plan w/the public rooms opening to the private garden and pool. Features wood floors, high ceilings & great light. Last sold in March 2004 for $2,375,000.

444 21st St. –   2bd + 2ba.  $2,995,000.   AAA+ prime location and a Gillette’s Regent Square lot of over 8,900 sq ft. Exquisitely remodeled last year. Detached garage is being used as an office. Last sold in June 2012 for $2,125,000, just before the market for land value properties began skyrocketing.

410 Lincoln Blvd. –   3bd + 2ba.  $2,695,000.   Development opportunity to build a new home. Includes architectural plans that are approved to build a 3 level home w/6-7 bedrooms, movie theater, gym, wine cellar, roof top deck. Last sold in March 2013 for $1,750,000.

New Sales this Week

354 24th St. – 0 bd, 0 ba. $5,000,000.        Yes you read this right! It is one of the only vacant lots North of Montana Ave. 13,049 sq ft. This sold in about 2 weeks. Land purchasing these days usually requires cash. Look for a $12,000,000 spec home on this lot in early 2015.

239 14th St. –   5bd + 6ba.  $4,450,000. Rebuilt in 2006 and many upgrades done in 2014. Great attention to detail. Features large chef’s kitchen, oversized Calcutta marble island, Viking appliances, 2 dishwashers, etc. Lush backyard. Last sold in June 2013 for $3.925 million.

434 19th St. –   3bd + 2ba.  $2,800,000.   Land-value / tear down on an 8,949 Gillette lot. My guess is that this will end up selling several hundred thousand dollars over asking – at least $3.1M. It last sold in October 1987 for $745,000.

Closed Deals this Week

601 17th St.–   5bd + 7ba.  $4,400,000. Listed by Pence Hathorn Silver.

Pence Hathorn Silver Active Properties:

502 16th St. – 5bd + 7.5ba – $8,495,000

615 18th St. – 7bd + 8ba – $6,495,000

143 Foxtail Dr. – 4bd + 3.5ba – $3,095,000

12727 Sunset Blvd. – 4bd + 4.5ba – $2,395,000

844 17th St. #102 – 2bd + 2ba – $1,795,000

416 Entrada Dr. – 3bd + 1.75ba – $1,450,000

1330 Stanford St. #F – 2bd + 2.5ba – $1,149,000

11959 Mayfield Ave. #2 – 2bd + 2.5ba – $899,000

Search for more homes, see real time analytics and learn about the North Santa Monica / North of Montana Ave. community on our North of Montana blog.  Add your comments (scroll down to the “Add Your Comment” section) and read other blogs. And please call my mobile phone (310) 924-4014 with any questions.

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