New market activity + the residents of Hermosa speak out! 7 Day Market Update and Weekend Open House List – Hermosa Beach


2/24/17
2 New Listings
2 In Escrow
3 Closed Sales
(see properties below)

Hermosa Beach Historical Home Designation

It appears major headway was made this weekby the residents of Hermosa Beach toward neutralizing the historical home issue. I used the word neutral because, although it looks as if the issue will likely go away, it may not be a done deal. The topic was the forefront of this week’s planning commission meeting where angry and frustrated residents and realtors spoke out. The historical home issue states that if a property is potentially historic (over 50 years), the owner may be prohibited from modifying whatever features of the existing structure, possibly including the entire building or whatever portion has been deemed to be of historical significance. This can significantly alter the current value of a property by eliminating it’s highest and best future value (remodeling the exterior or building a bigger and better, new structure).
There are 3 stages/categories assigned to historical properties
1. Potentially eligible historic resource –based on preliminary survey

2. Eligible – by means of a historical study, certain characteristics or qualities of the property have been confirmed to be of historical significance

3. Designated landmark – this status is conferred by the city as confirmation that the eligible features deem it worthy for landmark status and protection
Here is a relevant link:

PLAN Hermosa http://www.hermosabch.org/modules/showdocument.aspx?documentid=7994

It appears the planning commission is in agreement with the residents that this may be an overreach of property rights. If residents are concerned about this topic, they can attend the March 22nd city council meeting (7PM) at which time the council will vote on this and several other issues.

40 Active Listings in Hermosa Beach
SFR- 24
TWNHS- 13
CONDOS- 2

Actives by Hermosa Areas:
Sand Section: 23 Active listings
Valley Section: 8 Active listings
East Hermosa: 9 Active listings

NEW ACTIVE
1244 9th Listed for $2,175,000 5 bed/4 bath

This single family home is located in the Hermosa Hills section. This property last sold in 1998 for $735K.
Below are the two 2016 Single Family sales between 3000-3500sq. ft. 535 Hollowell was new construction and 1044 14th was completely remodeled to look like new construction.

160 Hermosa Ave Listed for $1,395,000 2 bed/2 bath

160 Hermosa Avenue is located in a 5-unit complex a few steps from the sand. This one last sold in 2007 for $908K. The most recent sale in this complex was 164 Hermosa Ave in 2012, for $700K.

IN ESCROW
446 Monterey #2G Listed for $1,099,000 3 bed/2 bath

It only took 13 days to find a buyer for this condo. It is part of a 34-unit complex located on the crest of Monterey. It has peek-a-boo views and last sold in 2004 for $557,500. Below are the last few sales in the complex, (we sold unit 2H in 2015 for $1,101,000).

160 Ardmore Listed for $1,399,00 4 bed/3.5 bath

In 9 days and it’s in escrow. This townhome last sold at the end of 2001 for $580K.

CLOSED
834 1st Sold for $769,000 2 bed/2.5 bath

This is a 14-unit townhome complex located on the Hermosa/Redondo border, slightly east of PCH. It last sold in 2005 for $700K. 844 1st, a similar unit, sold for $810K last October.

837 5th St #A-3 Sold for $850,000 2 bed/2.5 bath

#A-3 is part of an 8-unit complex built in 1980. It last sold in 2012 for $616K.

1116 7th St Sold for $1,080,000 3 bed/2 bath

1116 7th sold for $179K below the original list price. This single family home first hit the market in May of 2016 for $1,279,000. It was been in and out of escrow…and finally closed. The property last sold in 1986 for $224,810. Below are a few other similar sales in the neighborhood:

2 New Listings (click to see)
2 In Escrow (click to see)
3 Closed Sales (click to see)

If you have any questions about the previous properties or any other properties here in Hermosa Beach or the South Bay area, please call or text me direct at 310-613-1690 or email me at dronp@aol.com.

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Post by Darren Pujalet

Darren has written 199 articles.

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