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

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

Where Has All the Housing in the Hollywood Riviera Gone?

When people ask me how the market is these days I certainly tell them it’s good….just not necessarily if you’re a buyer.  Real estate, like just about any other market, is a matter of supply and demand.  There’s no question that the demand is there, but it is a big question why the supply is so low.  Take a look at the chart below to see just how few homes are actively for sale in the Hollywood Riviera (light green bar) while the number of sold homes and pending sales bounce back and forth but overall have remained pretty steady.

 

The chart above shows the number of active listings, homes in escrow and sold homes for each month in the Hollywood Riviera.

The chart above shows the average price per foot of homes in the area. While this can be a helpful statistic it’s not always as relevant in an area such as the Hollywood Riviera in which homes can differ so greatly in terms of upgrades, views, age, etc.

The chart above shows the average days on market as well as the % of how close homes are selling to their original list price.

The chart above shows the average list prices of the homes as well as the average selling prices of the homes.

The chart above shows the months of inventory on the market or how long it would take to sell all of the homes. The higher the number the more of a buyers market it tends to be.

Hollywood Riviera Home Spotlight – 124 Via Monte Doro

The Hollywood Rivera is one of our favorite neighborhoods and part of the reason is that, due to the hillside overlay restrictions, it’s not overbuilt.  Homes are generally still have the beach bungalow  vibe and don’t overwhelm the lots.  Although most of the homes are fairly similar (development is starting to become more prevalent) there are occasionally some very special hoomes to hit the market.

124 Via Monte Doro is one of those special homes.  The home was built in 1928 by Clifford Reid who was the developer and visionary behind the Hollywood Riviera.  He envisioned a neighborhood with a French Riviera look and feel and it’s now what’s known as the Hollywood Riviera.

124 Via Monte Doro offers 6 bedrooms, 7 baths, 6,756 square feet of living space on three lots totalling almost 22,765 sq ft.

124 Via Monte Doro

Keith Kyle is a top producing realtor in the Hollywood Riviera with Vista Sotheby’s International Realty. Contact Keith for all of your real estate needs

August 2019 Home Sales in the Hollywood Riviera

Real estate in the Hollywood Riviera saw another solid month in August 2019 with 14 home sales….all of which were single family homes.  The average listing price for the month was $1,538,000 with the average sales price of $1,517,000 showing a slight slow down in the ongoing sellers market.  The lowest priced sale of the month was $839,000 for niced sized 3 bedroom home right on PCH and the high sale of the mnth was $2,660,000 for a 3,370 sq foot beautifully remodeled home with great ocean views located at 103 Via Mesa Grande.

See also the current homes for sale in the Hollywood Riviera.

August 2019 Home Sales and Home Prices in the Hollywood Riviera

MLS   Address Price $ Per Foot Bed/Bath Sq Feet Year Close Date
SB19138196 4814 Pacific Coast Highway    $834,900 $521.81 3/1,1,0,0 1600/P 1953/ASR 8/28/2019
SB19168350 3850 Bluff ST   $892,000 $541.26 4/2,0,0,0 1648/A 1962/ASR 8/27/2019
PV19057143 4721 Greenmeadows AVE   $949,000 $783.00 3/1,0,1,0 1212/A 1953/ASR 8/13/2019
PV19123834 23327 Susana AVE   $1,093,000 $589.54 4/1,1,0,0 1854/A 1954/PUB 8/29/2019
PV19092871 263 Calle De Madrid    $1,385,000 $709.89 3/2,0,0,0 1951/A 1948/ASR 8/7/2019
SB19127570 127 Via Alameda    $1,400,000 $655.74 4/3,0,0,0 2135/A 1954/ASR 8/1/2019
SB19100911 601 Camino De Encanto    $1,500,000 $932.26 3/2,0,0,0 1609/A 1955/ASR 8/20/2019
SB19160334 318 Via San Sebastian    $1,500,000 $1,061.57 3/1,1,0,0 1413/A 1954/ASR 8/30/2019
PV19029926 5318 Calle De Arboles    $1,580,000 $483.92 5/2,1,0,0 3265/O 1955/ASR 8/27/2019
SB19163317 4230 Mesa ST   $1,608,500 $678.98 3/3,0,0,0 2369/A 1974/ASR 8/22/2019
OC19169208 150 Via Monte Doro    $1,730,000 $702.97 4/3,0,0,0 2461/P 1954/PUB 8/22/2019
PV19093307 5607 Via Del Collado    $1,950,000 $942.48 3/2,0,0,0 2069/A 1956/ASR 8/20/2019
SB18241497 817 Calle Miramar    $2,160,000 $897.76 4/3,0,1,0 2406/T 1954/ASR 8/15/2019
SB19014103 103 Via Mesa Grande    $2,660,000 $789.32 3/1,2,1,0 3370/A 2014/ASR 8/28/2019

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the hollywood riviera

Vista Sotheby's International

Vista Sotheby’s International Realty is one of the premier real estate firms in Southern California.  Visit our Riviera Village Office

ADDRESS:

1801 S Catalina Ave, Redondo Beach, CA 90277

Phone:

310.251.2344

E-mail:

keith@keithkylehomes.com

CONTACT AGENT

DRE#01712785

Keith Kyle

Top Producing Realtor

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