After the long holiday weekend, the South Bay is seeing a nice pop of inventory this week.
I hope this is a new trend that continues, but this week alone cannot be trusted post-Memorial Day weekend. Many sellers will delay their listing to enjoy their time off, so this might just be a week to catch up on new listings.
We will be watching future weeks to see if this is truly a trend.
With the new inventory, there are some great options that debuted this week, and while I would love to share all the options, there are a few I need to keep close to the vest due to client tours this weekend.
That said, the extra listing inventory more than compensates my showings to highlight a few interesting offerings. I am choosing one from each area covered in the weekly blog.
Keep in mind, these are all properties newly listed this week!
- 124 8th Street, Manhattan Beach
- 3 beds, 2 baths, 1,760 sq. ft., 2,705 sq. ft. lot
- Asking Price: $5,199,000
This beach cottage is an absolute gem. South of the pier location, 100-block, and a turnkey charmer…what is not to love?
Even better, there have been recent sales in this special pocket between $7 and $9 million. It is essentially priced at land value, but you don’t have to tear it down immediately. Enjoy this special home for a long time and maybe build later (although it would be a shame to knock it down).
- 4137 Via Nivel, Palos Verdes Estates
- 3 beds, 2 baths, 1,754 sq. ft., 8,289 sq. ft. lot
- Asking Price: $1,675,000
Valmonte has been on fire the last 12 months. From consistent $1,000 price per square foot sales which were rare in the past, to a $5 million listing in escrow (would be a major record), this Palos Verdes Estates pocket will not quit.
This new listing will sell well-above its asking price. It is move-in ready, in a great location, and has a fun courtyard. This listing should command six figures higher as a major fixer comp just a few houses up the street sold for $100,000 more a few months ago. Expect it to sell high and go fast. But, ultimately, it will be well worth it.
- 322 30th Street, Hermosa Beach
- 3 beds, 5 baths, 3,408 sq. ft., 2,417 sq. ft. lot
- Asking Price: $5,850,000
Custom North Hermosa walkstreet homes are about as rare as they come. Not only is there just a handful of Hermosa walkstreets, but there are also few new custom homes that come for sale.
Sure, you could wait for a tear-down lot, spend $2 million or more on a new home and wait two to three years. Or, you can pay a top dollar but buy yourself a fabulous walkstreet location with a rooftop swim-spa that offers fabulous ocean views. It’s expensive on a price per square foot basis but the home and location are one-of-a-kind.
- 513 Anita Street, Redondo Beach
- 4 beds, 4 baths, 3,087 sq. ft., 5,483 sq. ft. lot
- Asking Price: $2,000,000
Lastly, a major value play in the city of Redondo Beach. Anita is a busy thoroughfare from which is why the pricing is so good. Outside of that, this is a well-built 2006 vintage that backs-up to the Hermosa Beach border.
If you are okay with the busy street, you are landing a big home at a compelling $647 a square foot. It might cost the average person about $1.5 million to build a home like this, meaning the Anita lot is only about $500,000 when factoring in the build and dirt value. If an Anita lot came to market with no home, it would definitely sell higher than $500,000. This home may not be for everyone, but there is loads of value for a long-term holder.
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