All it takes is one property to get the price-hike ball rolling. Look back to late 2011 and you’ll see what I mean. In December, 3002 Hermosa Avenue (interior picture on the right and below) sold at $931 a square foot, or $3,350.00. Then, the snowball effect began, picking up steam as it rolled along. Not only did 3002 Hermosa justify the new, higher prices, but buyers were feeling more comfortable and even started showing some aggression in offering prices.
If you aren’t familiar with our area, Hermosa Avenue is one of the busier streets, used by locals to traverse the area from North Hermosa to South Hermosa. Hermosa Avenue is also one street east of The Strand. Homes here tend to have better views, because of the 26-foot height restriction, which disallows any structure from blocking the view.
For comparison purposes, let’s take a quick look at 3002 Hermosa Avenue before we discuss other homes that have sold since. Known as the “Lifeguard House,” this home has four bedrooms and four bathrooms, in 3,100 square feet of living space. To call this home “unique,” would be an understatement. First, the home was built from 200-year old barn wood from Connecticut, it features floating staircases, an enormous amount of natural light and space to park up to six cars.
Looking for all of the sales in Hermosa Beach in the last 12 months? Visit our Hermosa Beach sold homes page to find the proeprties that have sold. This is very useful information if you are looking to purchase to get you comfortable with the prices in Hermosa Beach.
Big Sales on Hermosa Ave In 2012
Flash forward to March of this year and 2131 Hermosa Avenue (Interior picture on the right) closes escrow at $3 million dollars, or $912 per square foot, just slightly less than our subject property. Slightly larger than the home at 3002 Hermosa, this home has an additional half bathroom. Although it’s stunning, it isn’t nearly as breathtaking as its neighbor that sold in December.
Spring brought lots of buyers to the area and three homes closed escrow in April. The first, 2222 Hermosa Avenue, closed escrow on the second of April, at $2,735,000. A whopping six bedrooms (one of which is being utilized as a media room) and six bathrooms fill this 4,450 square foot home. A bonus room on the top floor was no doubt quite attractive to buyers with its wet bar, fireplace, bathroom and French doors that lead out to the rooftop deck. The house also features a guest suite and a huge 4-car garage.
Several days later the home at 2123 Hermosa Avenue sold for $2,280,000. This home has 3,100 square feet of living space, has the amazing ocean views common to all of these homes and sits two houses from The Strand.
The third home on Hermosa Avenue to sell in April, 2440, closed escrow at $1,650,000. This attractive Cape Cod, with two units, offers unobstructed panoramic views and brings in $5,900 a month in rent. Ocean view picture from balcony of 2440 Hermosa Ave shown.
Finally, in June of this year, the home at 2304 Hermosa Avenue sold for $3,300,000, a little less than $100,000 under the asking price. This Mediterranean beauty offers six bedrooms with four full bathrooms and two partial baths. Features include a media room, elevator, maple kitchen cabinets, skylights, three fireplaces, closed circuit security cameras and oak hardwood floors.
There is currently one active listing on Hermosa Avenue, the home at 2804. It’s listed at a whopping $934 per square foot ($3,499,000). This Cape Cod home sits on a prime corner lot. Built in 2002, it features the same amazing views, four bedrooms, a media room, walnut floors, marble counter tops, top-of-the-line kitchen appliances and a master suite with spa-like bathroom. This tri-level home offers 3,746 square feet of living space.