Which South Redondo Beach Large Condo Complex is a Better Value?

Redondo Beach is a city with a plethora of real estate options.

There is property on the water, property with easy access to freeways, and everything in between. From condos to town homes to single-family homes, Redondo Beach has a wide variety of every asset class at virtually every price point.

It truly has a little something for everyone.

If you have been a buyer hunting for a condo in South Redondo, options are everywhere. There are small condo complexes and large condo complexes throughout town.

I am almost certain that during your hunt you have run into listings in one of the “mega-condo” complexes, as I like to call them.

The two “mega-condo” complexes I am referring to are Brookside Village on the corner of Prospect Avenue and Camino Real, and The Village, which runs along the western part of Catalina Avenue between Torrance Boulevard and Beryl Street.

For this post, I am going to break down which of the two “mega-condo” complexes is the better value.

The Complexes, Locations, and Differences

First, if you are not familiar with the complexes, there are various differences between the two options.

The Village is within a stone’s throw of the famous Redondo Beach Pier. Many units offer amazing walkability to restaurants, entertainment, and the beach, and have views of the Pacific Ocean. The complex is “high-rise” for the South Bay and has expensive HOA fees running from $400 to $700 a month.

Brookside Village is located farther east at a crossroad for easy commuting throughout the South Bay. The units surround community pools and a beautiful lush landscape with garden community vibes. The complex is “low-rise” with easy access to parking and more affordable HOA fees which run around $400 a month.

The Breakdown

The 1-Bedroom Condos

The offerings in each condo complex are vastly different when comparing both options for 1-bedroom units.

Standard Size Sales for The Village (619 square feet):

• 620 The Village #107
  • Sold Price: $575,000
  • Price Per Square Foot: $928

• 640 The Village #105
  • Sold Price: $579,000
  • Price Per Square Foot: $935

• 620 The Village #115
  • Sold Price: $607,500
  • Price Per Square Foot: $981

• 660 The Village #107
  • Sold Price: $624,000
  • Price Per Square Foot: $1,008

• 660 The Village #211
  • Sold Price: $650,000
  • Price Per Square Foot: $1,050

Standard Size Sales for Brookside Village (669 & 750 square feet):

• 802 Camino Real #206
  • Sold Price: $440,000
  • Price Per Square Foot: $657

• 641 S. Prospect Avenue #203
  • Sold Price: $465,000
  • Price Per Square Foot: $620

Currently, other 1-bedroom unit listings in Brookside Village are asking $608, $672, and $710 a square foot.

The Village 1-bedroom units are insanely expensive when it comes to a price per square foot standpoint relative to the rest of the South Bay. A $1,000 price per square foot price tag puts you in prime Manhattan Beach Sand Section territory and for Redondo, feels extremely expensive.

Brookside Village 1-bedroom price per square foot asking prices are much more reasonable relative to the South Bay real estate market. And where else can you own real estate in the beach cities for under $500,000?

Better Value: Brookside Village

The 2-Bedroom Condos

It is a much different story between each condo complex when it comes to 2-bedroom units.

For 2-bedroom units, there were six sales in The Village and nine sales in Brookside Village in 2019 thus far. So, I will take five sales from each complex to make an accurate representation without overwhelming you.

Various 2-Bedroom Sales for The Village:

• 240 The Village #303
  • 1,113 square feet
  • Sold Price: $850,000
  • Price Per Square Foot: $767

• 120 The Village #310
  • 1,257 square feet
  • Sold Price: $850,000
  • Price Per Square Foot: $676

• 120 The Village #104
  • 1,434 square feet
  • Sold Price: $856,000
  • Price Per Square Foot: $596

• 110 The Village #208
  • 1,484 square feet
  • Sold Price: $895,000
  • Price Per Square Foot: $603

• 250 The Village #311
  • 1,113 square feet
  • Sold Price: $1,025,000
  • Price Per Square Foot: $920

Various 2-Bedroom Sales for Brookside Village:

• 601 S. Prospect Avenue #305
  • 875 square feet
  • Sold Price: $525,000
  • Price Per Square Foot: $600

• 904 Camino Real #206
  • 977 square feet
  • Sold Price: $580,000
  • Price Per Square Foot: $593

• 812 Camino Real #203
  • 975 square feet
  • Sold Price: $590,000
  • Price Per Square Foot: $605

• 615 S. Prospect Avenue #201
  • 1,088 square feet
  • Sold Price: $590,000
  • Price Per Square Foot: $542

• 615 S. Prospect Avenue #202
  • 977 square feet
  • Sold Price: $590,000
  • Price Per Square Foot: $603

The 2-bedroom units in The Village are much more affordable to their 1-bedroom counterparts with an average price per square foot of $708. And, although Brookside Village has a price per square foot of only $588, those units are undersized for 2-bedroom units whereas the 1,200 to 1,400 square foot units in The Village allow for a much nicer 2-bedroom floor plan.

Better Value: The Village

The 3-Bedroom Condos

The Village has a small handful of “3-bedroom” options in the mega-complex, but there has not been a sale of one of these very rare units since 2006. Although they are large between 1,800 and 2,100 square feet, they are really 2-bedroom units with very large lofts that are a potential third bedroom.

Brookside Village 3-bedroom units are rare as well but you tend to see a sale or two each year.

Take a look at the two sales from 2019:

• 643 S. Prospect Avenue #101
  • Sold Price: $685,000
  • Price Per Square Foot: $531

• 826 Camino Real #201
  • Sold Price: $699,000
  • Price Per Square Foot: $467

To land a 3-bedroom condo for $467 a square foot is a ridiculously good value for anyone looking for a third bedroom anywhere in Palos Verdes or by the beach. And, Brookside Village presents a great option.

Better Value: Brookside Village (by default)

The End Unit or Penthouse (under $1 million)

With Brookside Village’s low-rise garden community vibes, end units and top floors hold value but not nearly as much as the high-rise, view-driven The Village complex.

• 640 The Village #216
  • 2 bedroom, 938 square feet
  • Sold Price: $964,000
  • Price Per Square Foot: $1,027

Now, this is not a “cheap” unit from a price per square foot standpoint but man oh man does it have one of the best view locations in all of the South Bay…and, for under $1 million.

You may have to pay an expensive price per square foot rate for it, but you won’t find property anywhere else by the beach with “Million Dollar Views” for under $1 million.

Better Value: The Village (by default)

So Which Complex Wins?

This is a trick question…it’s a tie!

The reason I broke down both complexes and weighed the pros and cons of both is because different values are perceived by different buyers.

Some buyers will gladly pay $1,000 a square foot to be near the Redondo Pier for personal reasons. Others may prefer a smaller 2-bedroom unit closer to the freeway for weekday commuting reasons.

All in all, there is no winner for which complex is a better value.

What I want you to take away from this is how to think about value in various terms and quantify that so it works best for you.

A $400 price per square foot condo or a “million dollar view” for under $1 million are the types of things you should be underwriting as you search for that perfect South Redondo condo.

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