Rare Malibu Beach Front Condo

by ritasimpson on August 22, 2013

in Condos at the Beach

It’s not easy to find a beach front property in Malibu for around a million, and many buyers are looking for just that!

The reason? there are very few condos on the water in Malibu and single family homes on the water start at around two million when you can find one.

However this week one unit just hit the market, ¬†Asking price: $1,095,000 for a one bedroom one bath on the water. Don’t get sticker shock, there is an explanation for this:

Units in that same complex with ocean views but not directly on the ocean have been selling in the $800K -$900K range for 2 bedrooms. Very few of the units are directly on the water and those that are almost never come up for sale. For reference when the market was very soft a few years back, a couple of beach front studio units came up on the market in this complex as short sales. They sold quickly in the $600K range. Now that the market has roared back we must wait and see if $1 million is the new $600K in Malibu.

We're sorry, but we couldn't find MLS # 13698395 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

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