Just Sold in South Redondo Beach: 719 N Maria Ave
As I’ve been writing about for a while now, I think that much of South Redondo Beach is still underpriced and there is room for appreciation even though the property values have already increased substantially. I say that because if you were put the same home at the same distance to the beach anywhere further north, Hermosa, Manhattan, Playa, MDR, Venice etc, that property would sell for a lot more.
One of the best investments, in my opinion, are the homes just south of Anita (190th), north of Beryl and east of PCH. I’m referring to MLS Area 155 in the northernmost portion of 90227.
The property my Buyer clients just closed escrow on for $1,302,019 is a great example. (Yes, that is another one of the random numbers I make up.)
The tree lined stretch of Maria Ave this home sits on is super cute with lots of Single Family Residences of all shapes and sizes. Best of all is that as you pull onto the street from Beryl you can actually see the ocean. Well at least I can from my SUV. And for many of the homes with second floors they may be able to - particularly if they have roof decks. Best of all, for those who like to walk, jog or bike to the Strand, definitely doable and you can get back home without climbing the Everest of 190th. Well at least not all of it.
There’s a few reasons I think this neighborhood is primed for appreciation over the next few years.
Homes there are selling at a significant discount to the Hermosa Hills just north. And in some instances even a discount to N Redondo properties found further east.
And, the AES plant will come down. Really. Yes, I know you have been hearing that for 20 years but it has to happen. Now let’s say that instead of a million condos being built on that site, some great open area is developed including parks.
That should be enough to drive prices up. But for those who don’t want to drive much further south on their work commute, this will become the last frontier of surface street driving. And you can walk to the beach. Yes, I know I already mentioned that.
The house my clients bought is a little over 1400 Sq Ft with 3 bedrooms and 2 baths and is in move in condition with updates to the kitchen and bathrooms. Because you currently can’t turn on to Maria from Anita, the street is almost like living on a cul-de-sac with low traffic (you can turn east on Anita from Maria).
This sale was another one that I was able to secure for my clients before the end of the first weekend open houses, without waiving the appraisal contingency, and beat out higher offers plus the proverbial “all cash” offer. How? You’ll have to contact me to find out.
Comic relief: someone on the listing agent’s side updated the MLS with an extra zero so it shows as a $13M sale. I don’t think it would have appraised at that price. It has been corrected, though. But I’m guessing the neighbors were real happy for a day or so to see their property values go up!
Here’s some pics of this one.