7 Day Market Update and Weekend Open House List- Hermosa Beach

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4 New Listings (click to see)
5 In Escrow (click to see)
6 Closed Sales (click to see)
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This is a market snapshot of Hermosa Beach Real Estate over the last 7 days. We are not presenting these properties as our listings. Click the IDX link above to see the recent Active, Pending and Closed properties in HB.

NEW ACTIVE
504 25th St Listed at $2,349,000 4 bed/3.5 bath
504
The developer is building 4 detached townhomes on this 15,000 sq. ft. lot that will be finished in July 2015. However, you can pre-order yours today. The entire lot was purchased back in 2012 for $2.55M.

437 24th St Listed for $1,800,000 2 bed/1 bath
427
This one has been in the family for decades and now it’s hitting the market at $1.8M. This 1032 sq. ft. single-family cottage sits on a 4200 sq. ft. lot.

2824 Hermosa Ave Listed for $3,100,000 2 bed/2 bath
2824
The last sale price was recorded in 1973 for $42K. It’s hard to even imagine a price that low.
As a lot sale, this 2559 sq. ft. lot is priced at $1212 per dirt sq. ft.…..right inline with the 2 other recent Hermosa Avenue sales.
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Last year, 2056 Hermosa Avenue sold for $2,615,000 or $972 per dirt sq. foot. Recently, 2 newly constructed homes on the 2400 block sold for $4.5M and $4.8M. Do the math and the #’s seem to make sense.

637 7th St Listed for $1,195,000 4 bed/3 bath
637
This duplex last sold in 1990 for $325,000. It is two, 2 bedroom units just west of PCH.
The seller is the US Federal Bankruptcy Court And all Offers are subject to court confirmation and overbid. It looks like a remodel was in progress and halted half way through.

IN ESCROW
2030 Loma Drive Listed for $2,400,000 4 bed/3.5 bath
2030
It last sold in August of 2010 for $1,925,000. This home is at the crest of Loma, offering views of the Hermosa Valley and an ocean peak to the west. It was on the market last year at $2.5M for 45 days and didn’t sell. It looks like a buyer may have come into play while this property was off the market.

1143 7th Place Listed for $950,000 3 bed/2 bath
1143
In less than a week, this one is in Escrow. My guess is this one sold with multiple offers for over asking price. It last sold in 1987 for $205,000.

3225 Highland Ave Listed for $2,399,000 3 bed/2 bath
3225
It has a lot size of 1,920 sq. ft. and after 6 days it has a buyer! This one last sold in 2004 for $1,015,000. That’s a nice jump up from 2004 pricing.

404 Hermosa Ave #1 Listed for $1,000,000 3 bed/2 bath
404
The last condo to sell in this building was unit #5 for $685,000 in 2013. $1 Million dollars may seem expensive for a condo, however it’s rare to see a $1M sale that is ½ block to the beach here in Hermosa.

1707 PCH #125 Listed for $559,000 2 bed/2 bath
Front Entrance
After 24 days on the market this one is in escrow.
The units in this 73-unit building surprisingly don’t come up for sale very often. An average of 3 per year have sold in the past 5 years. This unit last sold in 2003 for $370,000.
Currently Listing
Unit #304 Listed at $565,000 2 bed 2 bath 979 sq. ft.
2014 Sales
#121 2 bed 2 bath 969 sq. ft. Sold for $545,000
#308 1 bed 1 bath 722 sq. ft. Sold for $360,000
#302 1 bed 1 bath 726 sq. ft. Sold for $347,500

CLOSED
551 3rd St Sold for $1,345,000 3 bed/2 bath
551
$1,099,000 was the original asking price. This one sold for $246,000 above the asking price.
It last sold in 2003 for $709,000. It’s a 1539 sq. ft. tall/skinny home on a 2506 sq. ft. lot that was built in 1967. We heard they had in the neighborhood of 10 offers.

15 15th St #26 Sold for $835,000 2 bed/2 bath
15
This one last sold in 2003 for $505,000
The original asking price was $849,900 and it sold for $835,000.
This one was on the market briefly last year but didn’t sell.
There are 27 units in this complex.
There was only one sell in 2014:
Unit # 8 Sold for $663,000 2 bed 2 bath 946 sq. ft.
And one sell in 2013:
Unit # 22 Sold for $704,000 2 bed 2 bath 840 sq. ft.

596 1st St Sold for $1,275,000 3 bed/3.5 bath
596
Last sold in 2008 for $890,000
This one was originally listed at $1,325,000. This one was cancelled in late 2014 and brought back out on the market this year for 28 days.

40 7th Ct. Sold for $1,050,000 2 bed/2 bath
40
List price was $1,199,000. Only 15 days on the market before going into escrow. It’s a 962 sq. ft. lot about ½ block to the sand. I’ve heard this one has multiple offers.

931 Manhattan Ave Sold for $2,050,000 4 bed/3 bath
931
15 days on the market and this duplex has sold. It was originally listed for $2,095,000.
We sold 925 Manhattan Avenue next door last year for $1,810,000 with the same lot size. These are very similar properties. The sale price of 931 Manhattan Avenue is congruent with the increase in the market.

227 29th St Sold for $2,330,000 4 bed/4 bath
227
It was listed at $2,250,000. With a combined rent of $5725, this one had multiple offers.
It last sold in 1987 for $385,000.

If you have any questions about the previous properties or any other properties here in Hermosa Beach or the South Bay area, please call me direct at 310-613-1690.
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