By Keith Kyle
It’s unusual that in a market in which the inventory remains so low and buyers will scratch and claw for just about any properties in the Sand Section, that the inventory of oceanfront homes remains very high. The obvious explanation is that most buyers are priced out of homes now starting in the $7.0M range, but this is a town of seemingly endless wealth. What really is driving this is the combination of the exclusivity of being able to buy an oceanfront home and the pace at which home prices along this rare stretch of beach have risen. Of the homes currently on the market (not including the condo hotel of the Beach House)and sold in the past 18 months the average sale price is almost $10.5M.
By Keith Kyle
The beachfront street known as The Strand in Hermosa Beach usually has a multi-million dollar price tag and is certainly out of the range for most buyers. A potential option for those looking to live the good life without the rich and famous price tag is the condo/hotel known as the Beach House at 1300 The Strand. Units are individually owned but can only be used by owner a total of 90 days a year. The rest of the year the on site management rents out the units and revenues are split 50/50 between owners and management. Not all of the units are beach front, but the newest listing from South Bay Brokers is not only beach front but sits high on the top floor offering panoramic ocean, beach and pier views.
View the listing information for 1300 The Strand Unit 312
By Keith Kyle
The Beach House Condo Hotel in Hermosa Beach
If you’re like most people in the South Bay, the ultimate in beach living would be a home on the famous “Strand”. The Strand is the oceanfront strip in both Hermosa and Manhattan Beach. Home offer panoramic views, ocean breezes, the sounds of crashing waves, and the beach as your front yard. The drawback is, of course, the price. Hermosa Beach Strand homes generally sell for the mid $6.0Ms for a tear down and can run over $14M for new construction on a larger lot.
Is there a way to enjoy oceanfront living for less?
The answer may lie in the “condo-hotel” known as The Beach House just off pier plaza at 1300 The Strand. All 96 units are individually owned and can be used by the owner for up to 90 days a year. The on site management company uses them as rental hotel rooms for the rest of the year providing the owner with rental income to offset costs. The units are 439 feet and are located in one of two buildings. The original building is primarily oceanfront units with panoramic views of the beach, ocean, Palos Verdes and the pier. The other building is located just off of the Strand but enjoys an excellent location. The units are all fully furnished and offer an efficiency kitchen, 2 TVs, CD player/receiver, fireplace, living room with a pull out queen sofa sleeper, king bed, desk area, bath with soaking tub and separate shower.