Marine Avenue triplex sells for almost $3,000,000
323 Marine Avenue sells for nearly $3,000,0000
On the Market for a brisk 20 days, 323 Marine Avenue in Manhattan Beach has had a chance to stimulate the local developer community into a rabid frenzy of crazed, throwing caution to the wind, investors who have lined-up 30 deep to purchase this ocean view parcel in the city’s white hot Sand Section, although east of Highland Avenue. Currently a triplex, the 2,689 square foot lot will probably be the future site of two super awesome, ocean view town homes.
Listed for a reasonable, by today’s standards, $2,150,000, the rumors tell of 30 offers and a final selling price above $2,900,000—can this be for real? Well, the simple answer seems to be yes. The final buyer was apparently so hot to secure their offer that they accepted total as-is terms, and we mean from title to toenails. But, if you believe in how today’s builders pencil things out, there’s well over $1,000,000 in potential profit on whatever goes up here.