In Long Beach real estate, $ 4 million is the new $ 1 million • Long Beach Post News
And then they could turn their lives around and buy a million dollar house. Again, big problem. The entire east side of town, from Belmont Shore to the Hawaiian Gardens border, is covered in million dollar homes, that is, homes valued between 1 and $ 1.25 million.
Many are three-bedroom, two-bathroom homes, with perhaps a bit of upgrading to place them on the north side of $ 800,000 to $ 900,000, a price range that is alarmingly typical of homes in places. like Los Altos and the Plaza neighborhoods – homes that were never meant to knock your jaw off or spare your savings for a down payment. They were built and bought by single-income middle-class families during the days when there was a middle class in Long Beach, thanks to well-paying jobs in shipyards and in the aerospace industry.
These days, $ 4 million is the new million dollars, in that it takes that much to buy the kind of house that would be a place that attracts the admiration, if not the lust, of passers-by.
It’s been about 40 years that a million dollars would buy opulence in Long Beach. Real estate agent Keith Muirhead, now at Compass, specializes in properties in Naples and the Peninsula, and he remembers the first time he heard of a Long Beach house being sold for a million dollars . “It was right on the sand on a huge lot on Ocean Boulevard in Balboa Place on the peninsula. My tennis coach told me about it and it was great news: a million dollar house. How much would the property cost today? “Oh my God, it would take at least $ 5 million,” he said.
Today, there are only five single-family homes in Long Beach listed at over $ 4 million. The elite homes of Long Beach.
You go to LA, $ 4 million is nothing. That’s the equivalent of a $ 20 bill. You give an owner in Los Angeles $ 4 million and they buy a car with it or give it to their kids. I recently saw an ad for a mansion in Los Angeles where the seller had reduced the price by $ 100 million. Reduced!
But in Long Beach, $ 4 million or more buys the best, which is why realtors always say Long Beach is the most affordable beach community around. You will never see a property in this city where the price will be reduced by $ 100 million.
You can see a million dollar price drop, however. The owners of what may yet be the most expensive home sold in Long Beach, a mansion out of the water at 93 Giralda Walk in Naples, recently slashed their list price by $ 9 million by $ 9 million. dollars. nearly $ 8 million.
This is a terribly opulent house, certainly not what you would consider a laid back beach. You would feel like a redneck if you were dressed in something more seedy than the top hat and tails as you entered the marble-floored lobby with its towering ceiling, glittering chandelier, and grand staircase leading to the second floor. I drooled over it in a previous column and it certainly hasn’t deteriorated in the 134 days since it hit the market by listing agent Josh Reef of Douglas Elliman, Beverly Hills.
The sprawling 7,730-square-foot home sits on a massive 8,960-square-foot lot and features five en-suite, 7.5-bath bedrooms, a few fireplaces, an exercise pool, and plenty of other amenities. I still don’t see why this is the most expensive house in Long Beach considering it’s not on the water but it just shows you can’t have it all no matter how much money you spend.
A glittering $ 5 million free-falling Mediterranean mansion on the Peninsula Boardwalk at 5601 E. Seaside Walk costs a few million dollars in freefall. Listed by Spencer Snyder, the three-story, four-bedroom, seven-bath waterfront home has nearly 6,000 square feet of living space topped by an open floor plan on the third floor including a large room with a cornice ceiling and a spacious dining area with wooden sliders that open to a balcony with a built-in barbecue and spectacular views of the Pacific Ocean and coastline.
The second floor master suite is as large as a ballroom and has its own private balcony, again with endless views.
Facilities include a gym, a five-car garage and an elevator that serves all three floors.
The house does not move quickly at this price. It has been on the market for about 10 months.
Home # 3 on our dashboard is another oceanfront peninsula home at 2 Laguna Place, listed by Keith Muirhead, who entered the million dollar market with his sale of a home on the Rivo Alto Canal in 1998, for $ 1.2 million. Muirhead’s commission of around $ 25,000 allowed him to take his family on a three-week vacation to England, Denmark and France.
When I first wrote about this ad last February, the asking price was $ 5.18 million. Now you can collect it for $ 4.979 million. Designed by famed Long Beach architect Ed Killingsworth in 1956, it was, for its time, a mid-century modern style, with trademarks such as a wooden floating staircase, wooden walls. Catalina stone and generous use of glass, bringing the Pacific right into your living room. The four bedrooms and four bathrooms are located on a corner lot and have a living area of 3,375 square feet.
The over $ 4 million club’s new kid is the last home on the peninsula, a stone’s throw from Seal Beach, right next to the 72 Place parking lot, so plenty of parking for guests, as well as a garage for five cars.
Listed by Shannon Jones at $ 4.5 million, the modern design house at 7023 E. Seaside Walk is light and airy with tons of windows (can we just state that homes on the water have lots of windows? ) and great views of Alamitos Bay and the Pacific from its six balconies.
The big feature of this three story house, built in 1969 and renovated in 1975, is its roof terrace which is perfect for entertaining with its view of everything as well as an outdoor kitchen and barbecue.
The house, with five bedrooms and four bathrooms, just went on the market last week.
And now we come to Long Beach’s most affordable over $ 4 million home, which is pretty hard to believe it’s been on the market for a year now. Another listing from Keith Muirhead, at $ 4.2 million, the four bedroom, four bathroom home at 220 Rivo Alto Canal is conveniently located at the T-boning of Colonnade, Naples and Rivo Alto canals, and facing the expanse of Alamitos Bay and spectacular sunsets.
The house features a 45 foot open water dock, with no deck to hide under, for direct access to the bay and open water.
Add in an extra $ 4 million and you can buy the large lot next door, the last undeveloped lot in Naples, for your own private park or to double the size of your home.