512 Pacific Avenue | King of the Hill with highest sale price
If there were a Guinness Book of World Records solely for Manhattan Beach, Pier to Pier Brokers would now be in it with their sale of 512 Pacific Ave in the Hill Section. At $5.5 million this is the highest dollar amount paid for dirt in the history of the Hill Section. The home at 512 Pacific Ave, which was built in 1948, sold well above its asking price and was paid for in cash. The sale was brokered by Blake & Diana Roberts of Pier to Pier Brokers.
Home prices in Manhattan Beach have continually climbed in 2014 and 2015 by 12% and there doesn’t seem to be any stopping, especially with properties like this one that have massive potential on L.A’s most sought after beach communities.
The previous record was set in 2014 at 828 Highview Ave. and it sold it’s dirt for $5.4 million after originally being listed for $6.35 million and sitting on the market for 60 days. In comparison, that property was a lot smaller and also set on a corner. The new record holder at 512 Pacific Avenue is set on the east side of the street with maximum views.
The hill section in Manhattan Beach is known for its rolling hills and spectacular views. The area was primarily developed in the 1950s, but most of those homes have long since been torn down for newer, more modern homes that the demands of today's wealthy citizens. The boundaries are the Manhattan Beach Blvd, Sepulveda Blvd, then it runs along the wood chip running trail to the street Boundary pl. The main draw of the Hill Section is its parallel layout to the coast, where a majority of the homes have incredible bay views out of the front of the house from Palos Verdes to Malibu. The most exclusive streets are Pacific Ave, John St and N. Poinsettia.