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What Did That Westwood Home Sell For At 1302 Manning Ave?

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The Westwood home at 1302 Manning Ave LA CA 90024 lasted about 4 months on the market before accepting an offer on 2/27/15. During the listing period, the home only needed one price reduction of $200k before accepting an offer. As I talked before in a previous post about this house, this is one heck of a sales price south of Wilshire. One I have never seen for a single family residence in either the MLS or public records for this micro neighborhood. Over the last 12 months there have been 36 sales in this micro neighborhood. The average sales price for those homes was $1,833,305 and the average size of those homes were 2,418 square feet. So as you can see, this beast of home at almost 5,600 sq ft, dwarfs the average size home and annihilates the average sales price. Having said that, the price per square foot isn't necessarily out of line for an updated/new home as there are many examples of homes selling between $800-$1,000 a square foot south of Wilshire. But because the house is so big, it's not a list/sales price we have ever seen before south of Wilshire in an SFR. But big prices might start coming if any other new builds hit the market on good lot sizes. There is another new construction home that just hit the market with a $3.99k price tag and is already in escrow after two weeks. And I know another build that is in progress that sits on a large lot that will probably command something in the upper $3's to maybe even over $4m now with these latest sales.

On 3/23/15, 1302 Manning Ave closed about 2.61% under the asking price at  $4,626,000 |$828 $/sf|.  According to the MLS, the home is a 5 bedroom / 6 bath, 5,584 sq ft of living space on a 10,016 sq ft lot.