The Hermosa Beach Pier
If you check out the ads in the Beach Reporter it seems as if there is nothing priced under $1,000,000 in the Beach Cities. If you are a first time buyer that can seem pretty daunting. However the truth is that there is a lot of property under the million dollar price mark. In fact there is a lot of property under $600,000 in the Beach Cities. They are not 1500 sq ft, 3 bedroom 2 bath homes in the Tree Section of Manhattan Beach; however there are affordable starter homes in our area.
Currently there are almost 100 properties under $600,000...50 condos, 26 townhomes and 14 homes. Most of them are in Redondo Beach but there are a few in Hermosa and El Segundo and one in Manhattan Beach. The least expensive property in Manhattan Beach is a 2 bedroom/2 bath 1,095 sq ft condo on Manhattan Beach Blvd listed at $599,000.
The following units are available in Hermosa and are ideal for first time buyers on a limited budget who want can't afford a townhome or single family home but would like to buy a starter property in the Beach Cities.
There is a really nice 2 bedroom 2 bath unit in The Victorian complex at 2411 Prospect # 118 Hermosa Beach. The is a cutie with a new kitchen, polished cement floors and a fireplace. It is priced at $429,000. There is also a one bedroom priced at $399,000 . If you haven't been inside the Victorian then you may have missed one of the best kept secrets in the Beach Cities. This is a well maintained complex with a pool and underground parking. All the units have a private storage area in the garage. Some of the top floor units even have a peek of the ocean. It's just a short walk or bike ride to the beach.
If you want something a tad closer to the beach and can afford a slightly higher price there are two... 1 bedroom units available at The Hermosa Surf at 1707 Pacific Coast Highway priced at $465,000 and $470,000 and a 2 bedroom unit priced at $539,000. A little closer to the beach is The Apple Tree at 1720 Ardmore. There is a 1 bedroom priced at $499,000 and a 2 bedroom priced at $569,500. Next door at The Commodore you will find two... 2 bedroom units one at $575,000 and the other priced at %579,000.
All these buildings have pools for those who like to swim. The Hermosa Surf is one of the few FHA approved buildings which means you can buy using an FHA loan with 3% down. Historically people who have purchased a unit in these buildings usually live in them for 5 years or so and then move up to a townhome or single family home. These units are often kept by the owners and rented out as they make great rental units.
So if you want to buy and The Strand is out of reach.... then one of these units might be a good choice. Call or e-mail me if you have questions.