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The Santa Monica Dirt on Single Family Home Development

Posted by John Hathorn on January 15, 2016
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These are interesting times for home sellers and developers North of Montana Avenue. The voracious appetite for 90402 and 90403 lots available to build new homes on is reaching a fevered pitch. Agents are sending personal letters, knocking on doors, cold calling and head knocking to a greater extent than ever before. I should know – I’m one of the agents on the hunt. Pence Hathorn Silver represents end-users and developers alike that will pay the highest prices ever heard of for land value properties right now. Please call me if you have one!

With Los Angeles sure to enact restrictions further limiting the maximum size for new homes in the coming months, the lots in the north of Montana area in Santa Monica have become a very highly coveted object of desire. 60’ wide lots on good streets are now $3.5 million and 50’ wide lots are $3 million. There are at least 5 of these sales currently under contract as of this post.

There are a few new Listings this week:

621 10th Street – 4 bedrooms + 5 baths. $4,425,000. This house has been listed a few times in the past and failed to sell. It is a very formal Belgian-Country style home finished with Belgian Blue stone, limestone floors, antique doors, a living room that opens to cobblestone courtyard, fountain, garden, exterior office, and Chef’s kitchen. 

339 17th Street – 4 bedrooms + 4 baths. $3,625,000.  A 5d3 historic designation will make this home difficult if not impossible to tear down and start new with. It is a 2-story Spanish with a good floor plan. So, since remodeling and updating is the only option – here is your chance to have all the warmth, charm and ambiance of a 1920s era home.

New Escrows for this Week

446 21st Place – This is a really interesting and unique contemporary 5 bedroom 6 bath home with a pool and a party cabana reduced to $6,895,000. Ground up, new construction by Kovac Design Studio and very sophisticated in form and function. 4 bedrooms plus an office and 4.5 bathrooms in the main house, 1 bedroom and 1 bathroom in the guest/ pool/party house. iPad controlled Savant Smart home system, radiant heat floors, and a stunning outdoor kitchen area.

509 17th Street. Is in escrow. There were 3 offers to buy. Another 5d3 historic designation will mean only updating / remodeling is an option. It has 4 bedrooms, 4 bathrooms and was listed $3,680,000. It was built in the 1920’s and last sold in April 2012 for $2,500,000.

364 21st Street– 4 bedrooms + 3 baths.  $3,250,000.  And another 5d3 historic designation property back in escrow for the second time (it fell out and went back on market on December 20th). Hopefully, this time it will stick and close. Triple “A” prime location but certainly will be difficult to obtain a demo permit.

No Closed Sales this Week yet other than an unpublished private land value sale on 25th Street

Call me for a couple of upcoming attractions that are not yet listed in the MLS, priced from $1.9 million to $6 million. And….here are a few that we have listed in the MLS:

24142 Malibu Rd. – 3 bedrooms + 3 baths $7,488,000

464 25th St. – 6 bedrooms + 7.5 baths $7,495,000

902 25th St. – 5 bedrooms + 5 baths Price Upon Request

302 16th St. – 5 bedrooms + 5 baths $3,795,000

12127 Dorothy St. #101 – 5 bedrooms + 5.5 baths $2,095,000

12127 Dorothy St. #102 – 6 bedrooms + 6.5 baths $3,095,000

802 San Vicente Blvd. – 3 bedrooms + 2 baths $3,300,000

2404 Hill St. – 4 bedrooms + 5 baths $2,995,000

Search for more homes, see real time analytics and learn about the North Santa Monica / North of Montana Avenue 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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