17th Street Wannabe in the Tree Section

1609 Oak Avenue was just listed for sale at $950,000. This 3 bedroom - 3 bath (1988 sq ft) home has been a rental, and is coming to the market now as part of the owner’s estate. The listing notes that even though it has an Oak address, “This home faces 17th St., only the garage is on Oak.” The home was built in 1976 and while it is livable, this corner-lot home will need some updating.

A buyer has got to ask, "What else could I get in the Tree Section for just under $1 million? " Here are a few comparable homes.

For about $100,000 less you could get this teardown at 1801 Elm Avenue. So if you want to build in the Tree Section and are willing to go to probate court to overbid the auction price, this property has the same size lot (4480 sq ft) and is situated mid-block rather than on a busy corner.

2204 N. Ardmore. For a little more ($979,000) you could buy this single story (1126 sq ft), 3 bedroom - 2 bath home, a little closer to the beach on a slightly smaller lot (4400 sq ft). How many homes come with a private putting green? It has been on the market over 100 days, so the price may be a bit more negotiable by now.

2405 Elm (2168 sq ft) was immediately relisted at $999,900 after the previous listing expired. It was originally offered for $1,250,000 in June 2009. After several price reductions, it expired at $1,050,000 in December. This home has been updated with some nice features, but suffers from a quirky floorplan. It also has 3 bedrooms and 3 baths on a 4480 sq ft lot.

Call 310-707-8762 or email Janie.Nagy@shorewood.com to schedule a no-obligation consultation, if you are interested in buying this home or any other South Bay property.

Tree Section Probate Auction Coming

1801 Elm Avenue in the Manhattan Beach Tree Section was listed today as a probate auction property. Don't be fooled by the low listing price. The Kennedy Wilson Auction Group says there is no minimum starting bid and no asking price. The open house is Saturday, November 28th from 12:30 – 2:30 PM and on Auction Day (December 6, 2009)  from 3:45 – 4:45 PM. See the Kennedy Wilson website (http://kwiauctions.com/probate_auctions.asp) for more information.