Home With Lots of Upside in an A+++ Location at 425 Paseo De La Playa

425 Paseo De La Playa in the Hollywood Riviera

Welcome to what could be one of the absolute gems of all of the South Bay.  Perched on the bluffs above Torrrance Beach, Paseo De La Playa is the oceanfront location unmatched for all it has to offer. 

While this home is in need of some updating to truly make it a legacy home, the basics are all here.

One of the best locations in Southern California…..check.

Endless ocean views……check

A lot that extends all the way to the sand……check

425 Paseo De La Playa is one of those rare legacy type homes.  Perched on the bluffs above Torrance Beach, the home offers incredible and unblockable ocean views.  The 28,000+ sq foot lot is unheard of in the South Bay and as with all of the homes along the west side of Paseo, the lots extend all the way to the beach, but this home has an enormous amount of land in front of the home as well.  The gated entry and true estate feel make for endless possibilities.

425 Paseo De La Playa - Listed for $12,000,000

Listing provided by John Tran and Martin Le of NextGen Team Realty

Around the Riviera – Torrance Real Estate At a Glance

Real Estate Market Recap for Torrance California

The real estate market in Torrance was a bit more stable than just about any other city in the South Bay with only a small drop in home sales.  Torrance did see a decline in the number of home sales during the month with only 81 closed home sales compared with 99 a year earlier.  Compared with many other cities that saw more than a  50% drop from the year earlier this wasn’t bad at all. 

The average days on market was a very speedy 24 compared with 37 in 2019.  The median sales price was $792,0000 and the average price per foot was $503.  See more details in our full Torrance real estate trends and statistics area.  See also the Torrance homes that sold in April.

View the current homes for sale in Torrance CA.

April 2020 Home Sales and Home Prices in the Hollywood Riviera

By the numbers - home Sales and Home Prices in the Hollywood Riviera

The Hollywood Riviera real estate market slowed down a bit as most communities in the South Bay as the uncertainties of the coronavirus kept both buyers and sellers down a bit. 

Overall it was a fairly solid month in terms of home sales.  April 2020 saw 9 homes close escrow. The median list price of the sold homes in the Hollywood Riviera was $1,099,000 with the median “sold” price being $1,075,000 indicating it was still definitely a sellers market. The average price per foot was $761 and the average days on market was only 44.

Real Estate Recap- Hollywood riviera home sales in April 2020

Type
Address
Price
$ Per Foot
Bed/Bath
Sq Feet
Year Built
SFR/D
812
Calle de Arbboles
$965,000
$661.87
3/1,0,0,0
1458/A
1948/ASR
CONDO/A
125
Calle Mayor    #25
$1,050,000
$782.41
2/2,0,1,0
1342/A
1974/ASR
SFR/D
413
Calle De Castellana   
$1,600,000
$966.77
3/2,0,0,0
1655/B
1953/ASR
SFR/D
634
Camino D>e Encanto   
$1,689,000
$1,032.40
3/2,0,1,0
1636/A
1955/ASR
SFR/D
409
Via La Soledad   
$2,115,000
$989.24
3/2,0,0,0
2138/A
1954/ASR
SFR/D
4818
Greenmeadows AVE  
$950,000
$538.55
4/2,0,0,0
1764/A
1953/ASR
SFR/D
4709
Greenmeadows AVE  
$1,075,000
$614.99
3/1,1,0,0
1748/A
1953/ASR
SFR/D
5505
Riviera Way  
$2,225,000
$646.80
4/4,0,0,0
3440/B
2019/BLD
SFR/D
24707
Via Valmonte   
$928,000
$623.24
2/2,0,0,0
1489/P
1970/ASR

What Happened in November? Active Listings Dropped Off a Cliff

A Look at the Real Estate Market in the Hollywood Riviera

We look at a lot of real estate data and charts for the South Bay and the pattern is generally pretty similar in various towns. The Hollywood Riviera seems to be a bit different, however, and doesn’t seem to be following the same trends. What we saw was a fairly typical increase in both listings and sales as we got to, and through, the summer months. It usually slows down around November but it’s usually gradual. That wasn’t the case in the Hollywood Riviera as we went from 37 active listings in October to 26 in November and plummeted to 15 in December.  Unfortunately for home buyers in the area, the inventory has been extremely low ever since.

View the current homes for sale in the Hollywood Riviera

The chart below shows active listings per month (light green) sold homes (dark green) and pending sales (red line)

 

New Oceanfront Home for Sale at 505 Paseo De La Playa in the Hollywood Riviera

505 Paseo De La Playa Listed for $5,500,000

It’s rare to see one of these incredible oceanfront homes hit the market and this is no exception. 505 Paseo De La Playa had been on the market as a rental but just came on for sale. It’s an older home that will likely get/need a significant face lift but as they say in real estate, “location, location, location”.

There’s no disputing that the location really doesn’t get much better. It’s a personal favorite of ours as we love the community of the Hollywood Riviera and this is the best location imaginable. Paseo De La Playa is a hilly street with the homes on the west side sitting on a beachfront bluff with incredible views of the ocean, PV and the coastline.

Unlike the beachfront homes on The Strand in Manhattan Beach and Hermosa, the views don’t go away when the sun goes down. Incredible city light views just seem to get more impressive.

Priced at $5,500,000 this is a 4 bedroom (one bedroom downstairs and 3 upstairs), 3 bath home with just under 3,200 square feet.  Built in 1962 the house is certainly bright and open but we envision the buyer will likely be doing quite a bit of work.

Oceanfront Home in the Hollywood Riviera

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Homes in Hollywood Riviera. All rights reserved. Information deemed reliable but not guaranteed