The cost to buy a home in Seal Beach has certainly become more affordable, but what about the cost of land? The old adage of “invest in real estate, because they're not making any more of it” is uniquely true in our little beach town. Aside from the privately owned 11-acre parcel on first street, the average Joe doesn't have many options to buy vacant land in Seal Beach.
More often than not, people with a desire to build a custom home(s) have to purchase an older home and demolish it to meet their needs. Very rarely is there an actual vacant lot offered for sale in our postage stamp-sized town, but presently there is one located at 325 Seal Beach Blvd. It is a residential lot measuring 30' x 103' with views of the Naval base wetlands and is listed for $427,000 or just over $164 per sq/ft.
Last year two vacant lots on the corner of 10th St & Central Avenue sold for $600,000 or $271 per sq/ft and reportedly included plans for two custom homes. We have yet to see what will be developed on this site as building has yet to begin. One thing is for certain, the seller got a premium price for them based on two more recent land sales.
In Spring of 2011, two double lots (50'x117' each) sold at 602-604 & 606-608 Central Avenue sold for $209 per sq/ft. Currently the 602-604 parcel is being built into a spectacular single custom home. The 606-608 parcel was purchased by a different party and currently sports a wooden fence enclosing a portion the landmark weed-covered lot.
If you’re looking for something with a better ocean view, the land located at 400 Ocean Avenue is up for grabs. A humongous 14,700 sq/ft lot measuring 75'x196' currently has an original home still occupying the parcel and is a candidate for demolition. You'll have to dig deep if you want this piece of paradise, with the price tag coming in at $539 per sq/ft.
As these prices indicate, land in Seal Beach is still in high demand.