Latest Real Estate News from North Santa Monica Market

The North of Montana market saw new highs and lows last week. It was a week with much more real estate activity than the recent past.

There were five new listings, two new sales and two closings—making it one of the busiest in recent memory.

ACTIVE/AVAILABLE NEW LISTINGS

• 444 14th St., 5bd + 6ba, $7.39 million (one of the highs): Very private, just reduced to $6,995,000. One of the last, true, estate size properties on the market. Craftsman style home apx.  4,200 square feetw in prime north of Montana on a double lot. This is a perfect example of a trend where adjacent property owners purchase and incorporate the lot next door. Ten or so years ago, when this was newly built on a single lot, this home was owned by one of the most prolific modern day recording artists of our time. Guess who? 
• 526 Palisades Ave., 5bd + 3.75ba, $4.2 million: This place was a mob scene Tuesday when the listing was launched. Major rehab needed, probably backs up to condos or an apt building across the alley. Stately home on an apx. 17,250 sq. ft. lot.
• 443 21st St., 5bd + 5.5ba.  $3.5 million: There are already two offers on this contemporary Mediterranean home built in 1989. We will soon be showing a very similar home on a larger, corner lot. Ask me about it.
• 408 17th St., 5bd + 4.5ba., $3.55 million: This is one of my favorite remodeled homes in the neighborhood.  It was tastefully redone a few years ago, sold to an A- list actor and re-sold a few years after that.  Much of the original charm remains.
• 525 16th St., 2bd + 1.5ba, $1.89 million: Far less common than the typical Spanish bungalow, this is a country English style that will probably sell over list price to a developer. 

NEW SALES (NOW IN ESCROW/SALE PENDING)

• 363 21st Pl., 4bd + 3.75ba., $2.55 million: Second time did the trick on this, which is further proof that the market is far healthier than two years ago when we could not find the right buyer for this.

• 428 14th St., 3bd + 1ba., $1.64 million (old in less than three weeks—one of the lows): this is one of the lowest prices I have seen in some time. It was a trust sale, first time on the market in over 70 years.  It went out a little lower than I expected.

SOLD/CLOSED

• 302 Marguerita Ave., 3bd + 3ba., listed for $4.25 million and sold for $4.08 million
• 627 24th St., 3bd + 2ba., listed and sold for $1.99 million.

COMING SOON

• Very big, ocean view, 6 bedrooms, apx. 5,000+ sq. ft. modern for $5.5 milion
• Beautiful apx. 10,000+ sq. ft., corner lot near Georgina Avenue, 6+6 for under $4 million

Have a question about 90402? Email me and I will respond next week.