How much do homes sell for in Redondo Beach CA? Well that depends on whether you are thinking of buying in North or South Redondo Beach, what you are thinking of buying, how old the property is and in what condition and a variety of other factors. In general, consider $400K the entry point and $650,000-$850,000 the "sweet spot" with the greatest value and number of choices. While you can spend over $1M for a home in some Redondo Beach neighborhoods, for the most part there is a lot to choose from under $1 million. And if you go over $1M in Redondo Beach, you'll love what you can buy. (Mouse over any of the house icons above to view prices. Click to go to Socalistings.)
Therefore, most homes in Redondo Beach are less expensive than what you will find in Hermosa Beach and definitely more affordable than Manhattan Beach CA. Historically, Redondo Beach has been the least expensive of the Beach Cities. In the opinion of this writer, Redondo Beach offers some of the best coastal home values in LA County. In my Real Estate practice, I often work with buyers relocating either from the Westside or other parts of the country to Redondo Beach for the affordability, lifestyle, schools, and proximity to freeways, beaches, restaurants and other amenities.
Inventory of available housing for sale in Redondo Beach CA 90277-90278 has been low over the past 18 months and prices have increased, often substantially. Whether you are buying or selling Redondo Beach real estate it is imperative to work with a well connected local real estate agent who can best advise you as to the local market.
The least expensive homes in Redondo Beach are either relatively small condos or properties at the borders, ie Redondo Beach mailing address but in actuality Torrance (which isn't necessarily a bad thing either).
If you are looking to buy a small condo on a budget, you will most likely look at either Brookside Village or "The Village" in South Redondo Beach 90277. These are two entirely different complexes with "The Village" located just north of the Redondo Beach Pier at the ocean and Brookside Village further inland at the intersection of Prospect and Camino Real. Most of these units are flat "condo" style properties although both complexes do feature townhome style units as well.
These are great first time buyer properties and many have been retained as rental units after the owners move on to other homes. That not only makes these two complexes great affordable housing today, they are also great investment properties for the future.
Brookside Village (map right) is a massive sprawling complex with 385 units spread over 32 buildings. There are 2 tennis courts and 2 pools and the grounds have lush landscaping, fountains, and winding brooks, hence the name.
You can most likely find a 1 bedroom 1 bath unit, approximately 700 sq ft in the low to mid $300's. For a 2 bedroom units you are are more likely to pay over $400K. Add in HOA dues to that of about $400 month.
At "The Village" (pictured top) aka "The Village Condominiums and Townhomes" you can also find one bedroom condos in the $400K range and you will most likely have some ocean view or at least an ocean peak. Two bedroom units have recently sold for mid $500's and new listings of remodeled units are closer to $600K. Depending on which building you may be buying a condo in, HOA dues can be as high as $500 in some instances.
In North Redondo Beach 90278 you can still find 2 bedroom townhouse style condo units 900-1400 sq ft around $500K +/-. If you move to the mid $5's there are some smaller 3 bedrooms available. Many of these might back up to the power lines that run throughout MLS Area 151-152 or be on busier streets such as Grant or in the 2700 block and closer to Inglewood Ave. (Please note - there are also some 55+ age restricted building that may show up in lower price ranges.)
What you will almost certainly find is that many of the smaller units in North Redondo Beach are in larger complexes and they may have higher HOA dues (approximately $350 in some instances) than some of the larger and more expensive units we'll discuss below.At today's currently low interest rates, you can buy a lot more home for an extra $350 per month payment if you qualify.
South Redondo Beach but there are far fewer.)
Three on a lot townhomes come in both 3 and 4 bedroom floorplans and can be anywhere from about 1500 sq ft up to slightly over 2000 sq ft for the newest 4 bedroom units. Expect to pay between $650-$750K for newer (post 1999) "A" or "C" units (front or rear) and slightly less for the middle or "B" units. The middle units tend to sell for a little bit less because they have 2 common walls and no yard.
Most of the newer projects have "exclusive use" front and rear yards. I have seen some older 3 on a lots where the rear yard is not designated as exclusive use. FYI, if you are buying a rear unit property please note that the "extra" parking space typically found near the rear unit is designated as a "guest" spot and is not meant for the exclusive use of the rear unit. Depending on the neighbors that rule may or may not be enforced.
Many of these 3 on a lots have "inactive" HOAs. That means that there are no formal meetings or monthly dues. What many homeowners do is simply split the bills as they come in (insurance, gardening, maintenance, etc.) If you are buying, my advice is to make sure that your lender understands and can accommodate this. Inactive HOAs are great as long as you have good neighbors and you do not need to make any major repairs (roof, common area). Some of the older units may not have water metered separately. Most will have individual trash cans but some will have the older "dumpster" style. Those are other considerations to take into account.
What I am hearing from my builder associates is that there are very few R-3 lots left to develop. For my money, that makes most of these townhomes excellent investments because we probably will not be seeing many more new projects. As it currently stands, 3 on a lots are already some of the best deals in the Beach Cities.
I mentioned that 3 on a lot townhomes are available in 3 or 4 bedroom configurations. Probably over 90% of these units are "reverse flooplan" with the living room, dining, room, kitchen and master bedroom upstairs and 2 bedrooms downstairs. The 4 bedroom foorplan places a second bedroom upstairs and may or may not have a full second bathroom as well. There are a few "standard" floorplan 3 on a lot townhomes mostly found in MLS Area 152 and right around Perry Park. these were built by AGAR and have great upstairs space in the 'A" and "B" units but most buyers tend to find the downstairs somewhat cramped.
The other variation in 3 on a lot townhomes is whether the driveway is shared or there is direct access to the garage. The units on the East-West Streets have shared driveways (most common) while the North-South streets such as Felton, Phelan, Perkins, have direct access driveways. Two of these are pictured below (the Perkins Ln properties I sold).
We're just getting started in this series which will continue with further posts covering North vs South price comparisons and amenities, 2 on a lot attached and detached townhomes, the neighborhoods of Golden Hills and Hollywood Riviera, and Single Family Homes for Sale.