$1,425,000

For more pictures: http://www.avenueeye.com/21610th/

Amazing & exhilarating experience having the Shuttle Endeavor fly over our own Shorewood Hermosa Beach office!

South Bay Digs | Home of the week | July 13, 2012

1525 9th Street | Manhattan Beach | $1,325,000

This beautifully remodeled 3 bedroom, 2 bathroom custom Craftsman style home features approximately 1,800 square feet on a prime, south facing, 7,500 sq. ft. lot. Located in one of the most highly desired neighborhoods of East Manhattan Beach. The remodeled kitchen features granite counter tops with Jerusalem limestone back splash, cherry wood cabinets, professional appliances, & granite top bar/breakfast island. Oak, maple, and travertine floors throughout with crown moldings, Pella windows, living room with marble & granite fireplace and beautiful floor to ceiling windows, With flow and ease, make your way through the naturally lit hallway towards the additional family room with vaulted ceilings & slate fireplace. Master suite includes walk in closet, French doors, and master bath. The backyard Oasis includes private Jacuzzi, built in BBQ & bar with tranquil sitting areas with mountain views; absolutely perfect for entertaining. Both the front & backyards feature fine hardscaping & luscious landscaping with water saving plants, mature trees and gorgeous King Palms. Detached garage with bonus room, award winning Manhattan Beach School District, and of course, walk to the ‘Concerts in the Park’ at Polliwog every summer! Just the home you’ve been waiting for!

 In the last 3 years there have been 38 Strand home sales in Hermosa Beach & Manhattan Beach. Since the beginning of 2012 in just 3 months there have been 8 closed homes on The Strand in either city. This is the same number of closed sales for the entire year of 2009, let’s just say that market has turned for the positive here in the sand sections of Hermosa & Manhattan Beach. The average price for a closed sale on the Strand since 2009 is $5,886,948, which includes 3 of the most expensive sales in Strand history. All three of these sales have happened in the last 12 months and are definitely helping the real estate market recovery in the beach cities.

1600 The Strand in Manhattan Beach closed at $10,900,000 in April 2011, a 3 bedroom, 6 bathroom home with over 5,200 square feet of living space. This home was designed by Ray Kappe with a contemporary design on a pristine corner lot complete with a rooftop pool. This home originally listed for $13,500,000 and took over a year to sell and is the highest closed Strand sale in Manhattan Beach history. 2826 The Strand in Hermosa Beach closed the following month at $12,600,000 making it the highest sale in Hermosa Beach history. This home was designed by Louis Tomaro and custom built in 2010 boasting 5 bedrooms, 8 bathrooms, 8,000 square feet, and a rooftop pool & putting green.  And then last month 2909 The Strand in Hermosa Beach closed at $12,513,962. This home sits on a double lot with 7 bedrooms & 7 bathrooms and the biggest rooftop deck on the Strand. All 3 of these highest sales on the Strand were all cash offers.

Currently there are only 9 homes on the market that are for sale and 4 of these are condo units in the Beach House in Hermosa Beach. These 4 units are all about 450 square feet, 1 studio bedroom, and have 1 bathroom and range in price from $407,500-$595,000. The only single family for sale in Hermosa Beach right now is 3222 The Strand for $4,999,900 with 8 bedrooms, 4 bathrooms, over 2,600 square feet of living space and built in 1951. In Manhattan Beach, there are 3 single family homes and 1 townhome for sale. The townhome is located at 808 The Strand and has 3 bedrooms & 3 bathrooms for $3,695,000. The 3 single family homes for sale range in price from $7,799,00 to $24,900,000 which is 2016 & 2020 The Strand, two homes for the price of one.

From what I gather with this information is that the Strand inventory is low, demand is high for the right property, and investors have cash these days. I am interested to see what new Strand properties will be coming on the market for the rest of 2012.

Recent notable closed properties: 1220 Sunset Ave, a custom built 3 bedroom detached townhome built in 2005 went over asking with multiple offers and sold for $1,560,000. 1401 Manhattan Ave, a 3-bedroom townhome sold for all cash in 4 days for full price at $1,169,000.  A prime Strand corner lot closed at the beginning of the year for $5,850,000. This lot currently has 2 Spanish style built homes built in 1928 on a large 6,198 square foot lot located at 2444 The Strand. These recent closings are setting the tone for 2012 and getting the spring selling season started early.

Current escrows: 834 Monterey Blvd, a 1990 built 3 bedroom townhome with huge ocean views is in escrow and received multiple offers and went over the asking price of $1,075,000.  Another great sign of an upward tick in the market is new construction happening and there is one busy corner in North Hermosa on 28^th St & Hermosa Ave with two construction sites right now.  2812 Hermosa Ave was bought in 2010 and is now becoming a custom built home with amazing ocean views. 123 28^th St is under construction and in escrow and is listed for $3,100,000.

Agent Brokerage Moves:  Lauren Forbes & John Corrales left NW Brokers at the end of 2011 for Coldwell Banker. David Keller, longtime manager of the Hermosa Beach Shorewood Realtors office, left to now manage ReMax Beach Cities in Manhattan Beach.

Got a real estate question? Contact Brittny at brittny@shorewood.com