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There was a time not so long ago that a $100,000 per month Malibu summer rental was the talk of the town. Now it’s like, “Whatever, pass the Splenda, I gotta run to Pilates”. The new OMG price range is above $200,000 per month or higher and it shouldn’t be long before someone makes a run at $300k.
Do they get rented? Yes. Just when you think there is no way anyones going to pay that amount, the listing quietly gets withdrawn from the MLS, and a fleet of black Chevy suburbans with funny little TCP letters on the back bumper appear in front of the address.
Who are these people? In the upper digits it’s likely sheiks, royalty, oil barons, and guys who like horses under the hood or in the stable. It’s not the A-list actors that have business managers with good sense; they tend to stay in the $100k and under club.
Call for a showing but to see any of these you’ll need to be seriously qualified. Swiss bank statements, a truck load of gold bullion, or showing up with Mark Zuckerberg should all be fine.
Here are the Top Three Most Expensive Summer Rentals in Malibu
26848 Pacific Coast Highway. $250,000 per month with 13 bedrooms and 14 baths.
23316 Malibu Colony Road. Listed at $200,000 per month with 5 bedrooms and 7 baths. It will be completed by summer 2011.
7107 Birdview on Point Dume asking $100,000 with 6 bedrooms and 6.5 baths.
1 listed w Chris Cortazzo, 2 with Damon Skelton, 3 with Paul Randall
I saw a few things this week that made me pick up the phone and call clients telling them about some great opportunities within the Malibu real estate market. Yesterday on caravan, I was wowed by a home for sale located on Ramirez Mesa. This is a gated development of roughly 20 homes that sits above Paradise Cove and has great ocean views. The home for sale is almost 6000 sq.ft., nicely remodeled in a Tuscan/Mediterranean style, had 5 bedrooms ,a pool, and a three car garage. The home had views of all on Santa Monica Bay and has room for a vineyard. It’s current asking price is $3,950,000, which in my view makes it one of the largest, and nicest, homes available under $4m. I even think there is some room on the price! Call 310 699 8428 for an appointment to view it.
Listed with Chris Cortazzo
The other great deals in general are showing up in the condo market. I think we may see some condos closing at $350k or less in the next few months. There is one listed at the Malibu Gardens for $389,000! At that price it makes a great rental for Pepperdine students or just a weekend crash pad to enjoy the beach.
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For Questions about Malibu real estate, leases, vacation rentals, and where to eat, call Michael Gardner Prudential Malibu Realty Cell: 1 310 699 8428.
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