Charming streets, big ocean views, a quaint downtown shopping area, and proximity to the beach…..just a few of the many wonderful features of the area known as the Hollywood Riviera. Although technically part of Torrance, the Hollywood Riviera has a Redondo Beach zip code and “beach” certainly belongs in the name with fantastic ocean views and just a short distance to some pristine Southern California beaches. Some of what makes this area unique is that the city has tried to protect the ocean views by making it more difficult to build up or out, due to “hillside overlay” restrictions….the result is a neighborhood in which the homes actually fit on the lot (a rarity in the South Bay) with smaller, often one level, homes with large yards and the feeling of space. The area spreads from the bluff top, ocean front homes of Paseo De La Playa, fairly far inland so prices vary considerably. Smaller beach cottages further from the beach can be occasionally found in the high $600K range while the most recent oceanfront home is in escrow near $4.2M.
Archives for June 2013
Living at the beach may be more affordable than you think as Redondo Beach zoning allows for larger ocean front condo buildings not seen in other areas of the South Bay. At the moment there are far more oceanfront condos, townhomes and homes for sale then in recent memory. The current homes range from 1 bed 1 bath condos in the Sand Castle, to one of the more impressive oceanfront homes ever to come on the market at 717 Esplanade. 7 of the current homes for sale are ocean front condos on the Esplanade with the bulk of the additional opportunities being single family or multi unit. The home at 739 Esplanade is one of the more intriguing properties as it’s currently 3 separate levels, each with kitchen and baths that can be torn down with the ability to build townhomes, or a very large estate, but may also work as an owner occupied investment property with owners living in one of the 3 levels and renting the other two.
For updated oceanfront homes view the current oceanfront home listings in Redondo Beach.
May 2013 was a big month for both the number of home sales and prices in the cities of Manhattan Beach, Hermosa, Redondo Beach and El Segundo. Both the number of sales and home prices were on the rise. The chart below paints a pretty clear picture that the number of homes for sale, as well as pending sales and closed home sales is on the rise. According to local real estate expert Keith Kyle, “as we see the inventory of new listings rise we should start to see the return of a balanced market. We had a very unusual turnaround in which we went directly from a buyers market to a sellers market and never really reached an equilibrium.”
View the homes sales by clicking any of the May 2013 home sale links below.
Palos Verdes Estates
Rancho Palos Verdes
North Redondo Beach
South Redondo Beach
Southwood, West & South Torrance