The latest beachfront offering, located at 529 Paseo De La Playa never even made it to the market before selling. This was a fairly original home but was unique in a few ways including the extensive work done to the hillside allowing for a permitted walkway down to the beach.
The home itself has lots of potential and a great flat backyard area with incredible views. The home hit the market at $5,800,000 and offered 4 bedrooms, 3 baths and just under 3,200 square feet of living space on a huge (although typical for the homes on the west side of the street) 22,000 foot lot that extends down to the sand.
This is one of our absolute favorite locations in the South Bay.
Welcome to our real estate recap for Torrance CA. While the homes in the Hollywood Riviera might have a Redondo Beach mailing address, they’re actually in and serviced by the city of Torrance so it’s good to keep an eye on both the Redondo Beach real estate market and the Torrance real estate market. The number of homes that sold had a huge drop going from 123 closed home sales in May of 2019 to only 49 in May of 2020. The good news is that home prices were solid with a median sales price of $786,000 and an average price per foot of $514. The homes that sold averaged only 20 days on market. View a list of the homes that sold over the past month.
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)
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.
Althought the condo complex of Cote D’Azur in the Hollywood Riviera sits oceanfront, it’s actually fairly rare to see a unit with big ocean views. While the newest listing in the complex doesn’t directly face the ocean there is a ver nice view from the corner making it ulike some of the more recent listings. Ironically it is located pretty far east in the buildings but due to it’s view down Paseo De La Playa it has a great ocean close feel. Priced at $1,050,000 this is a 2 bedrooom, 2 bath 3rd floor condo on one level with approximately 1,312 square feet. The location of the complex is fantastic at the highest part of Paseo De La Playa. Montly HOA is approximately $560 a month and association amenities include a very nice pool area with a small clubhouse building and bbq area.
