A Paradise Cove mobile homes has just closed, selling at a record setting $2000 per sq.ft. for this neighborhood and I’ve got the exclusive photos to share with readers of Themaliburealestateblog.com! Interesting that a $60m sale just happened a few hundred yards away!
One of the hottest segments within the Malibu real estate market has been with the sales of mobile homes in Paradise Cove. About 3 years ago,Vanity Fair published an article about Paradise Cove touting it as Malibu’s “bohemian trailer park.” I believe that this article is responsible for putting the park on the radar of anyone seeking an alternative to the standard idea of the beach homes seen on stretches of beach along Malibu Road, Escondido, etc. Why spend $4m to $6m for a weekend house when you can do the same for under $1m? That’s what a lot of people thought and what started the wave of buying in Paradise Cove. Prices escalated and to this day, they continue to climb.
Nothing could be more evident of this change than when a bluff top mobile home was purchased last year for $4m. A record price for a mobile home and likely the highest price ever paid for one. Guess what? …It was worth every penny and is worth even more today!
Just a few days ago, I was told about an upcoming sale that I can now freely report. Sandy Bell is a local in the Cove and has a knack for remodeling mobile homes. She’s bought and sold more units in Paradise Cove than anyone else and here’s why….When Sandy buys a unit, she plans on making it her own. She gives the mobile home a major makeover and doesn’t spare any expense with the remodel. Viking Ranges, marble counter tops, and high pitched ceilings with beams make her remodels look like a real home….one that Restoration Hardware could do a complete catalog shoot in.
The problem is that Sandy creates such an amazing place that other people soon desire it and are willing to pay a premium for it. She never intends to sell, but it’s hard to say no to people willing to pay so much for her efforts. This has happened many times and it just happened again this weekend, except this time the sale was bigger than anything previous.
About eight months ago, Sandy got hold of a rundown mobile home with about 1000 sq. ft. It sat in a unique section of Paradise Cove where the coaches sit on a raised bluff over looking the pier and ocean. Every inch of the mobile home would need to be remodeled. She started by raising the roof and adding large beams. Next came an extended deck to take in the ocean views and afternoon sea breeze. The kitchen would be completely “high end” with Carrara marble counter tops, vintage nickel plated hardware, and custom built cabinetry with patina’d brass pulls that resemble dock cleats.
With only 1000 sq.ft., Sandy was able to find room for two bedrooms (both with ocean views), two bathrooms with more marble and large walk-in showers, and a living room with a fireplace and room for an oversized sofa and love seats. Every part of this place was perfectly executed with the right colors, materials, and finishes. It is no longer an old low-roofed mobile home…it is now a charming little beach cottage that she and her husband planned on living in for a long time.
But no surprise to Sandy, someone else took notice of the place and soon an offer was made. One that made Sandy seriously need to think about it. Well, history has a way of repeating itself and her dream home has now become someone else’s…for $2,000,000! At $2000 per sq.ft., I believe this sale now is the highest price per sq.ft. ever paid for a mobile home where the land is leased.
There are other units like this that have sold without ever hitting the market. I’ve sold numerous units in Paradise Cove and always know about a few that are available for sale. Call me at 310-699-8428 to find out more about Paradise Cove.
Here are the pictures I took just a few days ago. Any preconceived notions of what a mobile home is may need to change!
Tags: paradise cove