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2 Years Later, Walkstreet Home Finds Its Level

216 4th Street, Manhattan Beach,

216 4th Street, Manhattan Beach, There is much to recommend 216 4th St. in the South End of the Sand Section.

The 2018 custom build is on a prime corner at the edge of a classic walkstreet, with ocean views both permanent and... lucky, for now.

Thanks to its having a basement level, the home's half lot (1350 sqft.) doesn't limit the living space much, with 3br/5ba, and over 2750 sqft. of interior square footage.

216 4th Street, Manhattan Beach, In all, it's a rare find in a must-have location, with potential for year-round living or just frequent, epic holidays – and not a small amount of potential short-term rental income as well.

When you've got something rare, pretty, sizable with ocean views in a great location, you might try asking "too much."

And for a while, that's exactly what 216 4th did.

A listing of the property debuted 2 years ago, in late June 2022, at $7.499M.

We got a call from a client soon after, expressing interest and concern – both sincere.

216 4th Street, Manhattan Beach, They'd love to acquire the home, but they were going to need the price to be closer to $6.500M rather than $1M higher.

We got out our slide rule, and, after looking at what comps existed, we quickly determined that a price between $6.500M-$6.750M was closer to right than the list price.

We had good conversations, but it was clear the seller wasn't ready for that yet.

Our client moved on.

The first listing for 216 4th did shed $500K, hanging around at $6.995M till Oct. 2022, then returning at that level in July 2023.

This year, a third listing of the property emerged at $6.799M – now in range of our first estimate – but the listing quit in May.

Until...

Ta-da! An off-market sale of the property has now closed for $6.500M.

That's exactly where our client saw the value 2 years ago, instantly. No muss, no fuss, they saw the value properly right away.

It just took a while for the seller to see it that way.

Please see our blog disclaimer.

Listings presented above are supplied via the MLS and are brokered by a variety of agents and firms, not Dave Fratello or Edge Real Estate Agency, unless so stated with the listing. Images and links to properties above lead to a full MLS display of information, including home details, lot size, all photos, and listing broker and agent information and contact information.

Based on information from California Regional Multiple Listing Service, Inc. as of July 15th, 2024 at 4:26pm PDT. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.