There is no question that the luxury flipped home market has slowed considerably in the past 6 months. With “fixers” being listed and sold at fairly unbelievable prices, the opportunities just are not often there for flippers. The most recent rehab properties to come out are generally fixer homes purchased at the beginning of the year or sooner. The recent flip at 647 24th Place in Hermosa Beach should be a good litmus test whether the market is still there for recently flipped homes.
Unlike most flips, with the focus being almost exclusively on the easy cosmetic upgrades, the home at 24th Place did some major work, and the results were fantastic. When we first saw this home back in November of 2014 it hit the market at $1,079,000. It sold quickly at $1,300,000. The home had great views, a good sized yard, and a nice location west of PCH, but boy did it require some imagination. Imagination they had….
The home has been reinvented and layout completely reconfigured. When we first saw the home the kitchen, living room and family room were on the first floor, while all of the bedrooms were on the second floor. This redesign went well beyond the norm and completely flipped (pun intended) the layout with the bedrooms now downstairs and living areas upstairs. What that’s done is to allow the more frequently used areas to have the best views in the house. In addition they extended the front living room ceiling and added an entirely new row of windows allowing for a much larger sense of space, great light, and spectacular views. The home is currently listed for $2,200,000 which is a very big number for a home this size in this neighborhood, but with the impressive new layout, high end finishes, and so little on the market….it just may be close. Click here to see details and photos of the home at 647 24th Street in Hermosa Beach.
Welcome home to the very best in coastal luxury in this charming Hollywood Riviera location. From the moment you enter you’re surrounded by luxurious touches from the beautiful double doors and formal entry to the custom light fixtures. This gorgeous family home in the Hollywood Riviera was designed by local architect Louie Tomaro, one of the South Bay’s premier architect for luxury homes. With spectacular curb appeal, you are greeted by a gated entry, and a massive front yard. Upon entry, the double doors leads to a beautiful foyer designed to welcome visitors with a sense of casual elegance, bathed in natural light. The downstairs suite with private bath is perfect for guests or to use as a somewhat detached office. Upstairs features 4 additional bedrooms each with it’s own private bathroom. The master bedroom suite includes a walk-in closet, stunning master bath, and large French doors that offer direct access to the backyard. The gourmet kitchen includes stainless steel Kitchen Aid and Viking appliances, cherry wood cabinetry and opens to the dining room and family room for a casual, yet elegant feel. The balcony off the family room lets you take in the city light views and cool ocean breezes. Kolbe & Kolbe windows and doors, and cherry hardwood floors lend an elegant touch throughout. Sitting on a large lot, this home also features a spacious and private side patio as well as a very sunny backyard and patio area. The huge fenced-in front yard with remote control-ready arched gates give this residence an estate-like feel. Enjoy the close proximity to the beach, Riviera Village, Riviera Elementary and the Palos Verdes walking trail. Contact listing agent and Redondo Beach luxury home specialist, Keith Kyle at 310-251-2344 or Keith@KeithKyleHomes.com for more information and to arrange a private showing.
The best part of living at the beach is…..living at the beach. When it comes to really living at the beach, the “walk streets” of Hermosa offer it all. These pedestrian only “streets” are only found in the sand section and almost always mean that the homes are within a few blocks of the beach.
What makes these streets so unique and so valuable?
Most sand section homes on full lots face the street in the front, homes on both sides and an alley in the back. Fronting the street means the obvious challenges of car noise, parking challenges and a much higher level of traffic, especially in the summer. Walkstreets front a sidewalk instead of a street making for a much quieter, safer, and community friendly situation.
Most homes on these streets are full 30×90 foot lots with some being half lots or partial lots. There is great demand by builders for
older “fixers” or tear downs due to the premium location. Homes generally start in the $3,000,000 for a lot value sale and most larger homes start in the mid $5,000,000s.
What makes the walkstreets different from the walkstreets in Manhattan Beach is the abundance of original beach bungalows. As Hermosa has always had a bit more of a beach vibe, many of these older homes remain with some being beautifully remodeled and others still in fairly original condition. These original cottages give these walkstreet a real beach feel and makes for an ideal environment to live the good life.
Unfortunately searching and finding homes only on walkstreets isn’t easy as there is no specific category on the local MLS to designate them. If you would like to receive walkstreet listings please contact us or fill out our daily Hermosa Beach listing request and keep you notified anytime a new home comes on the market.
When most people envision perfection in beach living, they picture a home with endless views of the sand, surf and ocean. The magnificent homes of The Strand offer just that. With only a limited amount of space, these homes feature spectacular locations in which to sit back and relax. Many of the original bungalows have been replaced with stunning estates with nano doors, high end amenities, and those panoramic views. Homes range from the mid $6.0Ms to over $14,000,000. Properties rarely come on the market and often sell quickly due to the unique and somewhat priceless location. The majority of the properties are single family homes with a scattering of condos, townhomes and duplexes. The most affordable option is the condo hotel located at 1300 The Strand known as the Beach House.
It would seem you can’t look down any street in Hermosa Beach without seeing a new home at some stage of construction. As prices have skyrocketed in the past 18 months builders have actively sought out any “fixers” or original bungalows to tear down and replace with a maximum sized luxury property in it’s place. As with everything in real estate location is the primary target of builders but with such limited housing inventory builders seem to be interested in just about any location or lot at this point.
With the current lack of housing inventory and incredible demand in this small luxury coastal community, many of these homes sell prior to going on the market. As of early summer 2014 home prices in the sand section for these new construction homes generally have started in the low $3.0M and high points have been $5.0M+. Contact us for information on upcoming listings or to keep current on pocket, off market and upcoming home listings.