South Bay Real Estate Guide

South Bay Real Estate Guide

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THE HILL SECTION OF MANHATTAN BEACH I f you are a millionaire (or lucky enough to be a billionaire), you want to live in Manhattan Beach, and if having your neighbors a mere six feet away from you in the Sand Section is not your idea of comfortable living, then the Hill Section is most likely your destination. The Hill Section obtained is name from the simple fact that it is on a hill; many might say one of the most aesthetically astonishing and residentially desirable hills in the world. That is, of course, if you based your opinion on some of the following criteria: THE CLIMATE — A Mediterranean- type climate with mild temperatures, year round. Even when temperatures reach over one hundred degrees in Los Angeles, Manhattan Beach can easily stay a comfortable eighty degrees. THE SCHOOLS — Manhattan Beach recently ranked first overall by Forbes Magazine as the best school district in an area where housing prices exceed $800,000, and ranked sixth overall in the country. ACCESSIBILITY — Located just a few miles from LAX, the area is an easy commute to the business district of Downtown Los Angeles and Century City. Also conveniently located nearby are the training facilities of the Los Angeles Lakers, L.A. Kings and Clippers, as well as the many business parks related to the aerospace industry. Business executives, athletes or anyone looking to effortlessly venture outside of the area all find this area an ideal place to live. PROXIMITY — A walk or stroll to the beach is an absolute breeze, and a good portion of the Hill Section is in close proximity to the great shops and restaurants in downtown Manhattan Beach, providing outings on evenings and weekends that truly offer a small town feel. VIEWS — When you are situated on the West side of the hill, you will enjoy sweeping views of the ocean from Palos Verdes to Malibu and beyond. If you find yourself on the North or East side, you can often have incredible views of the glimmering lights of Downtown Los Angeles as well as even the Hollywood sign (if you're partial to squinting). The area is bordered by Pacific Coast Highway to the East, Ardmore Avenue to the West, Manhattan Beach Blvd to the North and the City of Hermosa Beach to the South. Street parking is not a problem here due to the ample lot sizes, which allow for more curb space. There are no elementary schools situated in the Hill section, however Robinson Elementary is close by in the Sand Section, and Pacific Elementary is just North in the Tree Section. The area is deemed principally as residential zoning, other than the border streets, which are zoned commercial. The area was developed primarily in the 1950s, but most of those homes have long since been razed for newer, more modern homes to fit the demands of today's wealthy citizens. The lot sizes range from just under 4,000 square feet to some that are well over 15,000 square feet. The average lot is probably closer to 7,000 square feet, allowing for an ample- size home to be built conforming to the needs of a large family; there is plenty of room for a yard and a little more distance from your neighbors than the smaller lots found in the Sand Section. Prices in this area are almost all over $1,000,000 and have reached as high as $10,000,000. Although many local experts know there are homes that easily exceed that value, the owners have never opted to sell — and why would they if they are living their dream? Obviously prices fluctuate based on the market and economy, however price retention in this area have fared very well in the downturn compared to other hard hit markets in the country. Furthermore, when the market is moving up, you could stand to make millions by just sitting in your living room watching your equity rise. If you are one of the lucky ones living in the Hill Section, holding power is the name of the game. Hold on as long as you can and enjoy it, as you may be living in one of the most desirable locations in the country. To learn more about available homes for sale in the Hill Section or to track current home values and sales trends in the neighborhood, visit: HillSectionEd.com EAST MANHATTAN BEACH Average List Price = $1,171,000 Average Price p/sf = $450 Number of Homes for Sale = 20 Months of Inventory = 4 THE HILL SECTION IS KNOWN FOR HOMES WITH OUTSTANDING ARCHITECTURE, IMPRESSIVE VIEWS AND SOMEWHAT LARGER LOTS. MANHATTAN VILLAGE Average List Price = $1,087,000 Average Price p/sf = $480 Number of Homes for Sale = 8 Months of Inventory = 4 THE HILL SECTION Average List Price = $3,173,000 Average Price p/sf = $879 Number of Homes for Sale = 14 Months of Inventory = 14 All statistics based on Trendgraphix reports, Nov 2011

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