425 Paseo De La Paya - List Price $12,000,000 - Sales Price $6,900,000
The big news in the Hollywood Riviera is the sale of the oceanfront estate located at 425 Paseo De La Playa.
It was a very interesting home as the location was unbelievable and it was a true “estate” style property from the gated entrance, long driveway, outbuildings and more. It was also a bit of a project home.
The home was originally listed in 2019 for $10,000,000, pulled off of the market and brought back out in 2020 for an increased price (?) of $12,000,000. The lot is unbelivable and extended all the way down to the sand. Unlike beachfront homes on the Strand in Manhattan Beach and Hermosa, the homes along Paseo De La Playa offer a great sense of privacy and as there’s no close access to the beach, other than from the homes, it’s almost a private beach below.
417 & 421 Paseo De La Playa is a wow legacy type property (well actually 2 houses) at a wow price. The previous sale of this property back in February of 2018 at $22,650,000 set a record at the time for a single family home in the South Bay. Currently listed at $22,995,000 we’ve already seen a very significant price drop from the original $26,995,000 price it was originally listed for in December.
There really is nothing like this in the South Bay. As described by the listing agent this is truly a “compound” type feel and a true legacy home. Consisting of two distinct free standing homes, combined they offer approximately 15,728 square feet on a massive 62,757 square foot oceanfront lot that extends to the sand and offers direct beach access down a trail. The main home features 5 bedrooms and 8 bathrooms, with the second “guest” house featuring 5 bedrooms and 7 baths.
Beyond the view, the outdoor amenities include an incredible pool and spa, fire area and even a private beach volleyball court.