A little over a year ago I sold a little tree section fixer at 3612 Poinsettia, Manhattan Beach. In prior years this house would have been torn down the day escrow closed as it was only two bedrooms, less then 900 square feet with a single car garage and needed work. In fact it had been sold to a builder who backed out just before closing as he had a lot of inventory that hadn't sold.
3612 Poinsettia was a probate sale. I listed Poinsettia around Thanksgiving in 2007 with a starting price of $929,000 which was actually lower then the value given by the appraiser for the state of California. After a few adjustments the price was reduced to $849,000 in March of 2008. Along the way there were many comments about the price and condition. In May 2008 this little home found its place in the market and after receiving multiple offers (7 of them) entered escrow and closed in mid July 2008 at $849,000 with a small credit to the buyer.
Since escrow closed I have driven by and noticed a number of changes. Last weekend I was able to see what the new owners had done to the inside as well as the outside... what a difference a year makes. This was always a sweet house... but now it is charming. They did a number of things I would have done and others I didn't consider. French doors were added to both bedrooms which really opened up those rooms. The new kitchen is stunning and the living room is warm and inviting.
I thought it would be fun for those of you who followed the story of this listing to see the before and after views of this lovely home. If you are considering buying a small "fixer" you will find some great ideas. The exterior was repainted and flower boxes added. They tore out the old kitchen cabinets, etc and redid everything while staying within the same footprint. They made few structural changes other then widening the doorway into the kitchen and closing off the back door by the garage. They scraped the ceilings and revamped the fireplace. Most of the flooring is the original, sanded and stained a darker color. The kitchen flooring was added and is a perfect match to the existing floor. They tore out the old tub and vanity in the bath and put in a double sink and a claw footed tub/shower. French doors were added to both bedrooms. New moldings around the doors and new doors for the closets finished off the project. The backyard and patio area are their next project.
3612 Poinsettia, Manhattan Beach: Before and After....
Before....
After......
All it takes is a little imagination.....and a bit of help from some friends to make a fixer into something special. In the last two years a number of homes that would have been lost to the bulldozer a few years ago are being bought and updated. I think this is great. Many of these older and smaller homes have good bones but need a little fixin' to show off their charm. For awhile there it seemed as if we were becoming a Stepford community of McMansions. It's nice to see a mix of homes around town... this is what adds character and charm to our City by the Sea. .
*** Closed Escrow:
1708 Pine in Manhattan Beach closed escrow 9/2/2009... sale price was $850,000. This was a fixer 2 bedroom 1 bath 760 sqft on a 4480(40x112) sqft lot...
The new owners are willing to share information about the folks who helped them transform the house. Email me off line if you would like the information.
16 comments:
They did a nice job. I wonder what those fixes cost? It was just too small for us. Great for a retired couple with no kids/grandchildren.
Anon 10:54,
I'm not sure what it cost as they have a lot of family who did work...i.e an uncle made the new garage door.
Actually they are a young couple who plan to add on downline when they have children.
Wow. Seems like they really overpaid if that's the case. Hard to believe there wasn't a better option out there that would allow for a family, etc. The single car garage will be an issue down the line as well.
Anon11:28,
Depends on what you need... They liked the large kiving room which is hard to find in many of these homes.
They also liked the backyard (40x116 lot)which is large and very private.
Lot value in the trees hasn't declined much for that size lot.
To each his own. How large could the living room be as the entire house is 900 sq ft? Seems an odd move. Also, trumpeting a 40 ft. wide lot is sad.
Anon 1:17,
40'is standard width of lots in tree section.
And that's why the Trees are way, way overrated. Hill, Sand, even east of Sepulveda offer much better locations.
Anon4:12,
I guess it depends on your personal preference. Many lots on the Hill are only 30' wide as are most sand section lots.
Folks who live in the tree section love it and usually stay there if they move to a larger home.
It seems like a good price when you look at recent comps. In June a house on Oak Ave. (2 bedroom, 1bath with 862 square feet) sold for $799,000. The tree section is very desirable; it is close to the beach, and it is a great location for people who have to commute to West L.A.
Anon 7:48,
Lot value in the trees hasn't declined a lot since last year.. It has gone down about 20%- 25% depending on location since the peak.
Tree section is overcrowded and still overpriced for most locations. Also, Oak is a terrible street.
Well, obviously, not everyone thinks Oak is a terrible street because someone bought an 862 sf house for $799K. Poinsettia is a lovely street. A property is only worth what someone is willing to pay for it . . . the sale prices in the tree section speak for themselves.
Congrats to the buyers! Those of us looking to buy our first home applaud their vision and effort. Love the bathroom sink!
Anon10:49 and Anon 7:38,
Your differences of opinion are what make real estate and horse races interesting.
fthb,
I love that sink... I haven't seen one quite like it before.
Come on. Oak is a terrible street. That someone paid 800K for an 800 sq. ft. dump on Oak proves only that a sucker is born every minute.
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