This week’s blog is a blend between two blog posts that have received positive feedback. The two posts are:
- North Redondo Tall & Skinny Home Appreciation Has Been Unstoppable
- Which South Redondo Beach Large Condo Complex is a Better Value?
The feedback was twofold:
- North Redondo tall & skinny homes are a hot topic for our readers
- A lot of readers enjoyed the breakdown between two options and how to consider each of them
This brings me to my blended topic for the week: East Hermosa Beach Tall & Skinny Homes vs. North Redondo Beach Tall & Skinny Homes.
Yes, Hermosa Beach has tall & skinny homes too. In fact, a lot of them.
And no, this is not a competition between North Redondo and East Hermosa.
If you read the condo complex blog from last week, you know that I ended up giving away the conclusion at the beginning. Once again, I am doing that here. The answer to which one is the right buy depends on the buyer, their needs, and motivations.
The point of this post is to break down different options and how you should be thinking about real estate, in general, throughout the South Bay.
If you are considering Redondo tall & skinny homes, perhaps a more expensive Hermosa tall & skinny will offer you greater value.
If you are looking at Hermosa tall & skinny homes, perhaps it is a bit of a value trap and you should consider, instead, a more affordable Redondo tall & skinny.
Comparison #1
North Redondo Tall & Skinny
- 1627 Carlson Lane
- 3 bed, 2 bath, 1,947 sq. ft.
- Sold Price: $1,290,000
VS.
East Hermosa Beach Tall & Skinny
- 436 Gentry Street
- 3 bed, 3 bath, 2,033 sq. ft.
- Sold Price: $1,500,000
Both of these properties are within two blocks of one another, have three bedrooms, and similar livable square footage.
The Redondo option is completely updated and gorgeous, while the Hermosa option has great bones but needs to be rehabbed.
Conversely, the Hermosa option has ocean views and stunning sunsets off the front deck, while the Redondo option has no ocean views.
That being said, there is a $210,000 difference in price.
Are you the type that significantly values a solid ocean view and sunset each night? Or, are you someone who values updated finishes more than ocean views?
If you don’t care as much about finishes and plan to update down the road and those ocean views are worth $250,000 to you, then you might want to consider the Hermosa option with a budget for some new paint and carpet.
If you get home late and are too busy to enjoy the view each week, then you might want to consider the cozy, updated Redondo Beach home and pocket that $210,000.
Comparison #2
These two properties below are within three blocks from one another.
So, let’s compare the differences so that you can identify how to determine value for your specific real estate portfolio.
North Redondo Tall & Skinny
- 1635 Goodman Avenue
- 3 bed, 2 bath, 1,786 sq. ft.
- Sold Price: $1,255,000
- Property’s Pros/Cons:
- Stunning updates
- 284 square feet of bigger living space
- Expensive backyard improvements
- $245,000 in savings
- Not in the Jefferson School District
VS.
East Hermosa Beach Tall & Skinny
- 846 18th Street
- 3 bed, 2 bath, 1,502 sq. ft.
- Sold Price: $1,500,000
- Property’s Pros/Cons:
- Livable with some updates, but could use more work
- 242 square feet bigger lot
- Huge front porch with ocean views
- Oversized backyard
- $245,000 premium
- In the Hermosa School District
If elementary schools and school districts in general are most important to you, then an amazing ocean view and Hermosa View Elementary could be worth the extra $245,000 easily to be in the Hermosa location.
Is extra livable square feet and remodel updates most important? Then saving $245,000 to get all of that and a fabulous outdoor space could make the Redondo option a no brainer.
Comparison #3
North Redondo Tall & Skinny
- 1538 Goodman Avenue
- 3 bed, 2 bath, 1,987 sq. ft.
- Sold Price: $1,399,000
VS.
East Hermosa Beach Tall & Skinny
- 2020 Prospect Avenue
- 3 bed, 2 bath, 2,055 sq. ft.
- Sold Price: $1,475,000
Both of these homes have similarities being same livable square footage, both having been rehabbed, etc.
The main differences here are that the Redondo option finishes are higher quality and the Hermosa option is on Propsect Avenue which is a busy street.
There is a $76,000 price difference.
Essentially, the consideration here is the “brand” of the city.
Do you believe East Hermosa is a more desirable real estate market than Golden Hills in North Redondo?
The median price data the past 12 months says that East Hermosa median price is about $1.5 million, while Golden Hills in Redondo is about $1.2 million. That’s what the numbers say in terms of dollars.
But, when there are virtually apples to apples homes, with the difference of $76,000 and a busy street, you have to decide which one is best for your budget and what you desire most? And, which option has the best upside.
This decision is tougher than it might look.
Conclusion
I know that there are loads and loads of nuances that I did not cover here. Some of those include:
- Hermosa residents have the option to go to Mira Costa High School
- Jefferson Elementary drives Redondo purchase decisions
- Redondo has far more tall & skinny options to choose from
- Some believe Hermosa values are held in higher esteem than North Redondo
- Redondo’s tall & skinny areas are less than a two block difference in some cases, and a massive discount to Hermosa Beach
- Etc., etc., etc.
The list goes on and on!
The point similar to last week’s blog is that you should be carefully weighing both cities for what is right for your specific scenario.
If you are solely looking at North Redondo tall & skinny homes, you should most definitely consider Hermosa Beach.
Vice versa, if you like Hermosa tall & skinny homes, what is stopping you from looking in Redondo Beach?
They are both very similar and can offer different benefits to different buyers.
Do your homework on both areas and their options, and make sure you have considered every angle to find the best home possible for you!