It has been a long time since we have done a “deals of the week” blog post. Quite honestly, it is damn hard to find deals these days as a buyer. After multiple offers, the asking price on many new listings often settle on a number that is far less than a deal.
That said, there is always a bargain somewhere and it is worth trying to find sneaky value where others might miss it…even if the exercise can be futile at times.
Let’s get right into it…
Rancho Palos Verdes
First and foremost, we are going to start with a humble brag at my newest listing on the east side of The Hill.
- 3427 Newridge Drive, Rancho Palos Verdes
- 3 beds, 3 baths, 2,324 sq. ft., 28,884 sq. ft. lot
- Asking Price: $2,399,000
This home and property simply stun the senses. Pictures cannot describe the views, videos cannot depict the terraced grounds, and the price is so reasonable.
Every tour we have had, buyers are in awe of the city and ocean views, along with the attention to detail of the home. If the property is an unfortunate pass for a buyer, I still get feedback that the property is five out of five stars and that they were so glad they toured.
No question, this home does not disappoint. Look at the pictures, book an appointment, and make a bid on a property that you will keep forever. I promise it will be worth your time.
Manhattan Beach
This Tree Section stunner is a value play, or even a flip for the right buyer.
- 3204 Maple Ave, Manhattan Beach
- 4 beds, 3 baths, 2,004 sq. ft., 4,639 sq. ft. lot
- Asking Price: $2,000,000
The Manhattan Beach Tree Section has gone bananas coming out of the pandemic. You have limited choices in the Trees, mostly between an expensive turnkey home or a tear-down bungalow.
This listing above offers optionality and is priced affordably.
One can rehab the existing footprint and have a great-sized three bedroom home with an office and a large backyard. Or, make an addition off the back to 2,500 square feet for even more space and you have a home that has increased at least half a million in value, or perhaps more.
If the market keeps roaring the next 12 months, the right buyer might turn a profit rather quickly.
Redondo Beach
Covered land play alert!
- 1029 Avenue A, Redondo Beach
- 3 beds, 2 baths, 1,411 sq. ft., 6,608 sq. ft. lot
- Asking Price: $1,599,000
If you read my blog a few weeks ago about land value sales on the Avenues East of Prospect, then you will understand this one. Please refer to my blog post titled: “South Redondo ‘Avenues’ Home Prices East of Prospect Just Went Higher” for more.
The conclusion of that post was that the double lot listing currently in escrow for $1.25 million per lot. This property is a nice home that you can hold over the long term as a land investment.
Essentially, buy the lot for $1.25 million and the home is thrown in for another $350,000. It is not that simple, and real estate rarely ever is…
But, if you are looking for an affordable Avenues home with land value upside over the long term, then this one deserves a look for the right buyer.
Have a great week! Cheers.
Richard Haynes
DRE: 01779425
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The Richard Haynes Real Estate ShowA leader in South Bay real estate for the better part of a decade, Richard thrives as an advisor to his clients with over $248 million in sales as a broker or investment principal at his boutique agency, Haynes. Richard is known for his keen local market insights which have been featured in the L.A. Times, The Street, and Forbes, along with his weekly South Bay real estate blog. [read more]