Just Sold: 125 1st Ct Hermosa Beach
I just sold 125 1st Ct -126 1st St in Hermosa Beach. This super cute duplex was purchased by a developer who will be building new Townhomes whenever the plans can get approval. Which might not be for a long time. So don’t expect to see the new construction here for a year or so.
Why would it take so long?
In addition to getting approval from the City of Hermosa Beach, because the lot is located in the Sand Section it also requires approval from the Coastal Commission. You can view the map to see how much of Hermosa this affects. Short version is pretty much everything west of Valley Ardmore except for a cutout south of 24th to around 18th and east of Loma and then another few blocks around 31st. But pretty much the entire Sand Section. If you want to know more about what the California Coastal Commission does, follow this link.
But unless you are a builder, no need to worry yourself with these issues. Speaking of builders…..
As luck would have it, bad luck in this case, just about as soon as I started to look for a developer for this property, the prices of lumber spiked. Unless you’ve been to Home Depot or a lumber yard recently, you may not have noticed this. Prices have doubled and tripled in some instances and you can find lots of articles about this online including this one. This has caused the price of new construction to go up with resales on its coat tails. It also has had the effect of making builders more cautious about what they will pay for land. And lumber isn’t the only commodity that has increased and there are shortages of some materials and appliances.
WHAT’S THE SAND SECTION?
The “Sand Section” refers to the properties west of Valley - Ardmore in both Hermosa and Manhattan Beach. This is both an MLS distinction and a term used by locals.
The Sand Section includes homes on The Strand as well as the Walk Streets. Many, but not all, Sand Section properties have ocean views.
In general, the Beach Cities is the home of the “micro-markets” with Hermosa Beach having 3, Manhattan 6, and Redondo Beach 8. You can learn more here.