While the housing market may have a “high” and “low” season, the desirability of buildable land in Seal Beach is relatively linear and always in demand. More often than not, the sale of residential parcels is done publicly through the Multiple Listing Service (MLS) and with the assistance of a Realtor.
Just last week, the property at 1213 Ocean Avenue had a construction fence placed around the original beach cottage and a local Contractors sign attached. Though not listed for sale in the MLS, it appears this 5,528 sq/ft lot is scheduled for demolition and likely construction of a custom residence.
The most recent public land sale in Seal Beach was the property located at 127-129 Dolphin Avenue. The sale, which closed September 23rd, consisted of two 25’ x 100’ residential lots at a price of $762,500 each. The property, which was sold with a set of approved plans, has an existing structure which is expected to be torn down in the coming months.
Recently re-listed for sale in the MLS, is the 8,330 sq/ft lot located at 402 Ocean Avenue, better known as the Gold Coast. Offered at $4,900,000, presently this is the only land available in this exclusive beachfront neighborhood. On and off the market now for several years, it’s likely just a matter of time before this land too is sold.
Earlier this year, the Federal Government held an auction to sell the four parcels that were originally used by the Pacific Electric Railway. The parcels ranged in size from 6,834 sq/ft (the smallest) up to 10,493 sq/ft.. The minimum opening bid was $200,000, with bidding increments of $50,000 each. Neighboring property owners quickly scooped the parcels up.
4 ½ residential lots located at 232 17th Street, currently a Triplex, is being sold for land value. With a total lot sq/ft of 11,250, this land is being offered at $2,700,000 and may accommodate up to four single family homes. At the time of this publication, it has been on the market 77 days with no takers. Though an opportunity of this proportion surely won’t go unnoticed for long.
While the value of land in Seal Beach remains relatively linear, the opportunities to purchase desirable lots is fleeting. If you’d like to stay current with the sales activity in Seal Beach, or the value of your home, visit www.SealBeachHomeValues.com.