2017 Medal Winners, Hermosa Beach

Posted by Mike Michalski on Monday, January 1st, 2018.

Hermosa Beach - like its neighbor to the north, experienced a stellar year in terms of median home price appreciation in 2017.  Median single family home sale prices increased 7.7% while condos and townhomes surged 16%. 

In light of the upcoming winter Olympics, below are the top three home sale medal winners in Hermosa last year in terms of sale price (along with a few honorable mentions).

1540 The Strand

Sale Price:  $14,150,000
Details:      5 Bedrooms, 6½ Baths
                      4643 SF, 4180 SF Lot 


Originally listed for $16 million, pre-completion, this Strand home from builder Mike Davis eventually found a buyer at $14,150,000, making it the highest-priced residential sale in 2017 in Hermosa Beach.  With four stories, including a basement with wine room and media room, the home offers all the amenities in addition to its location right on the beach.

Interestingly, unlike Manhattan Beach, this sale did not set a record.  The previous high water mark for a new home was set by 2666 The Strand, a 7,000 SF home from builder Demetrius Doukoullos that sold back in 2013 for $14,800,000. 

Also, the double-wide corner lot at 1942 The Strand topped both of these properties with a $15 million sale price in 2015 (the lot had an old house on it but that was never the attraction for this property and it's now long gone as the lot was cleared for subdividing).

2302 The Strand

Sale Price: $13 million
Details:  5 Beds, 3½ Baths
       2817 SF, 5349 SF Lot

Here is another case of a superior, oversized beachfront lot in a superior south-facing corner location commanding a superior price, although not as steep as the original $14,850,000 asking price.

The house, while charming enough in the Spanish Mission style, is, we suspect, ultimately destined for the bulldozer.  If we're correct, we can't wait to see what transpires on this lot.

Still, this sale does answer the question we posed in a previous blog post (see Going For The Gusto in Hermosa, published October 8, 2017), namely which one of three ultra-high end Hermosa homes - 2302 The Strand, 3500 The Strand (priced at $16.5 million) and 2805 Tennyson Place (discussed below) - will sell first (hint: the other two are still available).

2654 The Strand
Sale Price: $9.2 million
Details:  3 Beds, 4½ Baths
           3180 SF, 2597 SF Lot

Finally, in keeping with the lot sale theme, we have a single family home dating from 1932 that, nonetheless, found a buyer off-market for $9.2 million (the sale was posted on the Multiple Listing Service for comp purposes).

The flower vase on the patio table adjacent to the Strand bike path is a nice touch but, ultimately, this home will likely go bye-bye.

Some also-rans this past year include 802 The Strand (all these Strand homes, are you detecting a theme?) which sold for $8.9 million (essentially a break-even price given the seller paid $8.5 million for the property back in '07 just as home prices were taking a dive) and 1942 The Strand for $8,350,000 - yet another lot sale but just the corner half of the double-wide Strand lot that traded for a record a couple years ago (discussed above).

Of course, a new chapter in Hermosa home prices will be written if the 6-bedroom, 8-bath, 6392 sqft home on almost a half acre at 2805 Tennyson Place (pictured above) in what's sometimes referred to as the Hermosa Hill section gets anything close to its $19,900,000 asking price (down from its original asking price of $22,500,000 back in March). 







This entry was posted under South Bay Real Estate News, Hermosa Beach, and Lot Sales.