7 Day Market Update – Hermosa Beach

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3 New Listings (click to see)
6 In Escrow (click to see)
5 Closed Sales (click to see)

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.

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NEW LISTINGS
                        501 Heronda St. #65 Listed for $780,000                         3 bed/3 bath
501
#65 is the 2nd unit in this complex to hit the market recently. Its neighbor next door, #66, entered the market about 2 weeks at $849,000 ($69K more). 501 Herondo is a 75-unit complex located on the southern edge of Hermosa bordering Redondo Beach.

2 other 2014 sales have taken place in this complex:
#2 (2 bed/2 bath, 1439 sq. ft) $720,000
#46 (2 bed/3 bath, 1475 sq. ft) $700,000

                               1256 10th Listed for $1,950,000                                 5 bed/3.75 bath
1256 This is a beautiful 1948-built home that has been completely remodeled. It is located right on the Hermosa/Redondo border (last home in Hermosa-across Reynolds is Redondo). It reminds me of the property at 1134 19th that was on the Sandpipers Holiday Home Tour this year. Both are finished very well.
Other similar recent sales east of Prospect:
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                                 49 8th St Listed for $1,399,000           2 bed/2.5 bath
monopoly-house                                                                     (no picture available)
This one just hit the market today. It’s a 1500 sq. ft. condo located
in a 4-unit complex west of Hermosa avenue, 1/2 block to the sand.
Another condo recently sold:
412 Hermosa ave. #7 just sold for $801,000 (3 bedrooms, 1493 sq. ft. condo, 9 units)

PENDING/BACKUP
                     1460 Bayview Dr. Listed for $2,599,000                 7 bed/6 bath 
1460 It’s in escrow…likely to a cash buyer. This is a 2 unit “AS IS’” probate sale. The owners started building 2 single-family homes and construction stopped mid way through. It’s a great location. I look forward to seeing the outcome.

                       537 11th Listed for $1,695,000                          3 bed/3.5 bath
Photo is of staged front unit at 533 11th St. Each unit varies o This is the 3rd unit (back unit) of 3 brand new townhomes to sell.
The other 2 currently in escrow are listed at:
533 11th-(front)      $1,749,000
535 11th-(middle)   $1,695,000

                               942 10th St. Listed for $1,095,000                                  2 bed/2 bath
Spanish style duplex with separate private garages.
That didn’t take long. 942 10th street is a duplex with TWO 1-bedroom units, renting in the $1500-2000 range. This property last sold as a SHORT SALE in 2012 for $720,000.

                                   633 5th St. Listed for $1,575,000                      4 bed/3.5 bath
633 The market has spoken. These larger Spanish Style townhomes located just east of Ardmore, seem to be priced within the competitive range.
Here is what other 2014 Townhomes (west of PCH) have sold for:
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                               1025 8th Pl. Listed for $1,690,000                           4 bed/2.25 bath
1025 This spacious home has a roof top deck with 360-degree views spanning from PV to Malibu to Downtown LA and the mountains. It last traded in 2009 for $1,325,000 after 102 days on market. Has the market increased $365,000 for this house since 2009….we will see when they post the final price?

                        1733 Prospect Ave Listed for $1,499,000                      3 bed/3 bath
1733 This one went relatively quickly. 1733 Prospect is deceiving from the street. It’s a nicely remodeled property with ocean peekaboo views. It sold last year (July 2013) for $1,300,000.

CLOSED
                                840 20th St. Sold for $1,770,000                           4 bed/3 bath
840 840 20th sold after being on the market for 155 days and after a $125K reduction from the original asking price. It previously sold in 2002 for $675K.

                                      642 Hermosa Ave. Sold for $1,475,000             3 bed/2.5 bath
642 642 Hermosa Avenue sold after about 3 weeks on the market.
This is what we wrote when it came out:
This is part of a 6-unit complex that was built in 2008 and landed on the market right in the middle of the down turn. After some financial distress and the bank taking these properties back from the developer, this unit sold in 2009 for $940,00…after a full year on the market.

                                434 Ocean View Ave Sold for $1,150,000                      3 bed/2.5 bath
434 This was the deal of the month. After 113 days on market and an original starting price of $1,329,000…this one finally closed. This property truly does have ocean views, from Malibu to Catalina. Your blogger sold this one to some very happy clients.
Other 2014 Ocean View townhome sales:
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                                 1834 Ardmore Ave Sold for $1,420,000                    3 bed/2 bath
1834 After a $50K price reduction, this property sold quickly for $21K over the adjusted list price of $1,399,000, in only 29 total days on the market. It last sold at the end of 2013 for $1,260,000 after being remodeled and flipped back on the market by the seller.

                                   1601 Loma Dr Sold for $2,675,000                    4 bed/4.5 bath
1601 This one last traded for $2,325,000 in 2007. 1601 Loma is a larger townhome with 3200 sq. ft. It finally sold for $835 per sq. ft. This is one of the highest priced townhome sales ever in Hermosa.

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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