August in the South Bay tends to be a slower month for real estate. During this slow time, I thought it would be beneficial to examine different home offerings under $1 million.
Palos Verdes Peninsula
This may surprise some readers, but Palos Verdes does in fact have inventory under $1 million. Most of these listings exist in Rancho Palos Verdes on the east side of The Hill.
Asking $1 million on the dot, 5320 Ironwood Street is located in the popular Silver Spur area. This home can certainly be had under that $1 million price tag if you are looking for a fixer in a great school district.
You will not find single-family homes under $1 million in Palos Verdes Estates, but 2306 Palos Verdes Drive West #103 is a great two-bedroom condo option in Lunada Bay with a crazy low asking price of $386 per square foot!
Manhattan Beach
It is rare to find property under $1 million in Manhattan Beach these days. That said, I just brought out the lowest priced listing in the city since 2016!
This home is located at 1520 Manhattan Beach Blvd #C asking $765,000. A price like this might not be seen again in this expensive beach city. This condo is the perfect purchase to get into the area or place prudent investment dollars in what should be an easily-managed rental.
Hawthorne
The Holy Glen area of Hawthorne has been hot for years. Attractive single-family homes under $1 million have become harder to come by recently, but a few still exist.
Asking $825,000, 5308 W. 140th Street is a great option if you are open to doing some work. Likely, you will be all-in for under $1 million with the right rehab budget.
Looking for a more turnkey home? Check out 12922 Union Avenue #402. For under $800,000, you can be in the trendy South Bay ThreeSixty community with an easy commute to greater Los Angeles.
El Segundo
Just like Hawthorne, El Segundo has surged over the years making it tough to find a home under $1 million. In this area, your best bet is looking into the town home market.
With three bedrooms and three bathrooms, 408 Richmond Street #9 is right off Main Street in the heart of downtown. This one was snatched up quickly but is still accepting back-up offers.
A bit farther from downtown, 221 Whiting Street #2 offers more square footage than Richmond and has a fourth bathroom. This town home can be had for $999,000.
Redondo Beach
Redondo Beach is a larger city and the differences between South Redondo and North Redondo can be a big deal. There are quite a few options under $1 million in both areas of the city.
A nicely sized “tall and skinny” single-family home option is 1738 Carver Street in North Redondo. This home is in good condition, although it is a bit eclectic. If you head northeast from here, there are plenty more options in the condo and town home market that are discounted well-below $1 million.
In South Redondo, 406 Avenue G #14 is a nice town home option with three bedrooms and three bathrooms. Only a short distance from Redondo Beach’s wonderful Riviera Village, this location is fabulous. There are other condo and town home options throughout South Redondo as well; however, single-family homes in this area will almost always be above $1 million.
Hermosa Beach
Much like Manhattan Beach, Hermosa Beach is your classic, pricey beach city.
A great buy in East Hermosa Beach, 962 1st Street #A was gone in a flash! This roomy town home offered space and views not normally seen under $1 million. They are still taking back-up offers so it might not be too late!
A few condo options walking distance from Pier Avenue are 1600 Ardmore Avenue #108 and #301. You can opt for a turnkey condo with two bedrooms on the first floor with unit #108 or opt for the smaller unit, #301, with two bedrooms and one bathroom and put on your hard hat.
Torrance
Torrance is an amazing option for homes under $1 million, especially areas west of Hawthorne. The proximity to the beach, great schools, and quaint neighborhoods have become highly desired over the last few years.
My latest listing in Torrance is 21506 Evalyn Avenue. This is a turnkey home with a converted garage as a bonus for extra space. The neighborhood is darling, and you are only a short walk from Anza Elementary School. This home offers some of the best bang for your buck anywhere in the South Bay. Make an offer soon because this one won’t last!
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]