The story now is tied up with a bow.
1155 and 1165 Ronda have now closed, together, in one sale for $10.885M.
As we noted last month, this property is really two lots in a hidden part of East Manhattan Beach, one with a main house (1155, to the right in this photo) and another (1165) acquired by those owners…
The story now is tied up with a bow.
1155 and 1165 Ronda have now closed, together, in one sale for $10.885M.
As we noted last month, this property is really two lots in a hidden part of East Manhattan Beach, one with a main house (1155, to the right in this photo) and another (1165) acquired by those owners at some point for a guest house, monster garage and vast, grassy yard.
At 39,000+ sqft., the two parcels together make up 90% of an acre.
These were first offered for sale last year with a $14.900M start price in April 2016. That listing canceled and a new one began this year, last showing at $11.500M.
So the total drop from start is over $4M, and 27%.
The drop from last asking price was just 5% (-$615K).
If you were to ignore the structures, the lots here just traded for $5.4M each. Of course, there's a lot of house on one lot and a nice second structure on the other, so perhaps the land values were closer to $4M each.
It's an extraordinary acquisition, almost an acre of beach area property that we've said looks a bit like Brentwood or Beverly Hills.
At 1155, the late-80s custom "castle-like" house seems surely to be due for updates. You might see something different happen with the second lot.
We'll see what more we can learn about the plans for next steps here.
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Based on information from California Regional Multiple Listing Service, Inc. as of July 17th, 2024 at 10:17pm 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.