South Bay Real Estate Guide

South Bay Real Estate Guide

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THE TREE SECTION T he Tree Section of Manhattan Beach is considered one of the most desirable places to live. It is bordered by Sepulveda Boulevard to the East, Manhattan Beach Boulevard to the South, Rosecrans Avenue to the North, and the Sand Section to the West. Its proximity to the ocean, LAX and an easy commute to the city, make it as appealing geographically as it is aesthetically. The area adopted its name, "the Tree Section", not from the many trees that populate the neighborhood, but rather from the street names: Palm, Oak, Elm, Pine, etc. The area is also well known for its strict tree ordinance that restricts homeowners from removing most trees from their property without a permit from the city, thus preserving the visual attraction of the neighborhood. This section is one of the most diverse in all of Manhattan Beach. Being one large section, it encompasses the largest amount of sub-sections of all of Manhattan Beach's areas. Most of the neighborhood was initially built post war in the 1940s, and was occupied by the many aerospace industry workers that were employed nearby in El Segundo and Redondo Beach. Initially, the homes were smaller in size, ranging from approximately 1,000 square feet to 1,800 square feet. Today, developers have purchased many of these older homes, and have built newer, larger homes, upwards of 3,000 square feet. The architectural styles of the new homes have varied quite dramatically; from the many Cape Cod and Nantucket designs to the Mediterranean traditional styles of Tuscan and Spanish influences. It is not uncommon to see the more conventional Craftsman style home popping up, reminiscent of turn-of- the-Century artisan movement, not to mention the many custom, one-of-a- kind homes designed and built by local residents, adding to the diversity of the Tree Section. The Tree Section is made up nearly entirely of residential properties with very few commercially zoned lots, making it ideal for families. It is not an uncommon sight to see children riding bikes in the street and families taking an evening stroll with their pets. Yet depending on where you live, there can be found a small commercial area with shops and restaurants close by. Depending on the time of year, you can expect a few detours, as homeowners will barricade an entire block for impromptu block parties. Lot sizes vary in the Tree Section, but most of the lots are typically 40 feet wide and range from about 110 feet to about 135 feet in depth, depending on what block and street one is looking at. There are exceptions to the norm, however, and on rare occasions one can see lot sizes approaching 9,000 square feet. Not only are they hard to find, but they are also expensive, as land value in this beach community can be 90% or more of the total value of the property in some cases. Within the Tree Section there are several sub-sections that are both extremely popular and notable in their own right. American Martyrs is an example of one, and this area is popular for a multitude of reasons. It received its name for its proximity to the local Catholic church and private school, American Martyrs. There is a waiting list to get into the school, as it is a distinguished institution and thus, quite popular. Some of the more admired streets in this section are 15th Street through 18th Street as they offer something unique and hard to find: space. The lots in this section are typically 50 feet wide which not only allows one a little more distance from your neighbors but also allows more street parking and best of all, a very short walk to nearby Live Oak Park and the downtown district of Manhattan Beach. In some cases, these lots even offer a peak of an ocean view. The Gaslight District is located near Marine Avenue (although, the Gaslight District can be found on the Realtors Sand Section map, it is located adjacent to the Tree Section). These streets are beautifully lined with original gas burning lamps & lush trees. Many of the lots in this area are typically smaller; sometimes only 25 or 30 feet wide. However, what one loses in size, one gains in character. Prices in the Gas Lamp District hold up very well, and are priced similarly to the larger homes and lots nearby. Lastly, streets like 12th and 13th Street sometimes are confused for Sand Section homes, even though they are properly part of the Tree Section. Homes here are built on smaller lots that average 30x90 and are closer to the downtown district, so they tend to be assumed as Sand Section homes, which is not a bad thing! Homes that border major roadways, such as Marine Avenue and Rosecrans Avenue tend to see a decline in pricing, which offers tremendous value for your money if you are a new Tree Section buyer. Pricing in the Tree Section can be some of the most confusing in the area as well. Home prices range from just under $1 million for a small post-war sized home to well over $4 million dollars for a custom built home situated on an oversized lot in a highly sought after location. An agent with thorough knowledge of the Tree Section, like Ed Kaminsky, will expertly guide sellers and buyers alike to make the right decisions within their needs and budgets. Traditionally, the thought is that the farther West of Pacific Ave. you can get, the more valued the homes are. However, an agent who understands the special nuances of the area will direct their clients through a better To learn more about available homes for sale in the Tree Section or to track current home values and sales trends in the neighborhood, visit market activity for the TREE SECTION Average List Price = $1,600,000 Average Price p/sf = $561 # of Homes for Sale = 25 Months of inventory = 4.2 All statistics based on Trendgraphix reports, Nov 2011 knowledge of great finds that will hold particular long term value. For instance, looking at the map, just East of Marine Avenue, and North of Pacific Avenue, a special little pocket of streets that lie between 18th Street and 23rd Street, John Street and Palm Avenue, are not in the "desired" American Martyrs or Gaslight Districts, yet these home can yield higher than normal sale prices, and demand for these streets is far higher than market supply on an annual basis. Homes along nearby Laurel Avenue, Agnes Road, and the stretch of 19th Street between them border the American Martyrs area and benefit in much the same way. A small stretch along both 23rd Street and Marine Avenue, just West of Flournoy Road, borders the Sand Section Gaslight District and tend to stay ahead of the curve when it comes to resale values based on this special location. 31st Street is a special street, in that it lies apart from the Sand Section Gaslight District, yet has its own claim to fame... and its own gaslights (hence, less overhead wiring). Properly pricing Tree Section homes is a skill that comes from many years of experience in the industry. You'll get top dollar from an agent like Ed Kaminsky, who knows how to navigate the pockets of value in the area and how to educate a buyer who is looking to find a great investment. It's a great neighborhood with many options for many budgets and needs, which is easy to see why so many people seek a Tree Section address to call home. AMERICAN MARTYRS - A TREE SECTION LANDMARK. 6 SPECIAL ADVERTISING SECTION

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