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

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7 Day Market Update

7 New Listings (click to see)
5 In Escrow (click to see)
2 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
446 Monterey Blvd #3F Listed for $975,000 3 bed/2 bath
446
446 Monterey is a 34 unit condo complex. This unit last sold in 2011 for $700,000. There were no Sales last year (2014) in this complex and only 2 in 2013:
#2C Sold for $660,00 2 bed/2 bath 1133 sq. ft.
#1J Sold for $703,000 3 bed 2 bath 1331 sq.ft.

207 16th St Listed for $1,700,000 2 bed/2 bath
207
It’s the first time this one has been on the market in over 40 years. It last sold in 1972 for $30,000. This single family is close to the beach and has ocean views. The lot is 1520 sq. ft., so if someone buys it at this price to tear it down, they will be paying close to $1120. It’s a great location and a corner lot. My guess is this one will go quickly and likely for more money.

1707 PCH #125 Listed for $559,000 2 bed/2 bath
Front Entrance
Last week this one was in escrow, now its back on the market.
This unit last sold in 2003 for $370,000.
2014 sales in this complex:
Unit 121 Sold for $545,000 2 bed 2 bath
Unit 308 Sold for $360,000 1 bed 1bath
Unit 302 Sold for $347,500 1 bed 1 bath

1113 Valley Dr Listed for $1,099,000 2 bed/2.5 bath
1113
This one was last on the market in 2009 for $939,000 but didn’t sell.
It last sold in 2002 for $470,000. 1109 Valley (in the same complex) is 1653 sq. ft. and sold last year for $985,000.

1802 Hillcrest Dr. Listed for $1,095,000 2 bed/2 bath
This ocean view home was custom built by the owner with quality
The last sale date for this one was in 1972 for $17,500.
This SFR with coastal views is just east of PCH. Even though the lot is only 1651 sq. ft., the asking amount sits in a very accessible price point for Hermosa, so I won’t be surprised to see this go quickly.

2804 Hermosa Ave Listed for $5,100,000 4 bed/3.5 bath
2804
This single family home has been on and off the market for years.
This one sold in 2013 for $3.6M. Now, less than 2 years later, it’s back on the market for $1.5M more. This stunning 4 bed, 3 ½ bath with ocean views is pushing the envelope given that some larger new construction homes a few blocks to the south on Hermosa Avenue, sold in the $4.5-$4.8 range. However, this home is located on the best 6-block area of Hermosa Ave on the north end.

1127 Loma Drive Listed for $2,599,000 8 bed/5 bath TRIPLEX
Loma Dr. side of property.
The last sale on this Triplex was in 1975 for $130,000
It’s a good location, just 4 blocks to the water and a ½ block to Pier avenue.
The income they currently pull in is $6900 month in rent, or $83,000 per year.

PENDING
736 Gould Ave #8 Listed for $1,150,000 3 bed/2.5 bath
736
This unit resides in a 33-unit building, just west of PCH. #8 last sold in 2002 for $555,000. After 58 days on the market and an original list price of $1,129,000.
Unit #3, a 3 bedroom 2.5 bath, just closed at $1,004,250. There were only 2 sales last year in this 33-unit building:
#15 3 bed 2.5 bath for $950,000
#27 3 bed 3 bath for $830,000

1707 PCH #304 Listed for $565,000 2 bed/2 bath
17077
17 days and it’s in escrow. Currently, there is 1 other unit for sale #125 (which just went from escrow last week to Active again).
Unit # 125 is a 2 bed/2 bath listed for $559,000.

Unit #304 last sold in 2008 for $521K.
2014 sales in this complex:
Unit 121 Sold for $545,000 2 bed 2 bath
Unit 308 Sold for $360,000 1 bed 1bath
Unit 302 Sold for $347,500 1 bed 1 bath

302 Palm Dr Listed for $1,499,000 3 bed/3.5 bath
302
2 weeks on the market and its in escrow. Built in 2004, this home was last on the market in 2012 for $1,095,000. However, after a month and a half with no sale, it was taken off the market. Now it is back for $396K more.

1424 Manhattan Ave #3 Listed for $925,000 2 bed/2 bath
1424
After almost 2 months on the market this one has a buyer
This is a 4-unit condo building located 1 block east of Hermosa Avenue and 2 blocks to the water. The last sale in this complex was unit #1, which sold last April for $800,000, $105K above list price of $695,000. Unit #3 looks like it might have better views.

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.

2 Other recent lot value sales on Hermosa Avenue:
Address                        Lot Size                    List Price             Dirt sq. ft. price
2324 Hermosa Ave. 2435 sq. ft.      Pending $2,950,000           $1212
2464 Hermosa Ave. 3104 sq. ft.      Sold for $3,750,000             $1208

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.

CLOSED
132 Neptune Sold for $2,350,000 4 bed/2 bath
132 Neptune Ave, HB - Tuscan beach charmer offers sand, strand a
This property recently sold in 2013 for $1,599,000. The slightly larger home and lot (1542 sq.ft. home/1510 lot) next door, 136 Neptune, sold for $200K over asking at $2,450,000. 132 Neptune sold right at full list price.

2464 Hermosa Ave Sold for $3,750,000 4 bed/3 bath
hermosa
It only took 4 days to go into escrow. This beauty was sold for it’s corner lot location, which is just a skip away from the beach. $1200 per dirt sq. foot seems to be the new norm for the premium Hermosa Avenue lots.

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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Post by Darren Pujalet

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