One of the most efficient ways of searching for homes is to see homes in your specific price range. We’ve done the work for you and keep you updated on homes in various price ranges in Redondo Beach.
With prices rising rapidly in North Redondo Beach, the bar has now apparently been set for new construction 2 on a lot townhomes. With the recent sales of all 4 units at 2016 and 2018 Gates, all priced at $999,000 the pricing for new construction 4 bedroom townhomes appears to be something unheard of in the past for this neighborhood. The homes are certainly well done with high end finishes, square footage between 2400 and 2500 square feet, and each having small yards but the general consensus is that hitting the $1.0M price is a very big number for North Redondo townhomes. Known in the area as “2 on a lot” townhomes they feel more like single family homes than townhomes. They are completely detached, have direct garage access and private yards. The property is shared among the 2 owners that comprise of the HOA. In most cases the agreement between owners is pretty informal and often only insurance and landscaping are shared costs. Contact us for information on these wonderful alternatives to single family homes or fill in our free listing update form to receive new listings daily. See below for all of the 2013/14 sales of these 2 on a lot new construction townhomes.
Located just east of Hermosa Beach, the “Golden Hills” section of Redondo Beach offers great home values for the South Bay. The homes in the Golden Hills are affectionately known as the “tall and skinnies” and many offer great square footage for much less than in neighboring Hermosa and Manhattan. Redondo Beach offers great schools, proximity to the beach, and an abundance of activities. Home prices generally range from the low $1,000,000’s to over $2.4M for new construction and the homes are usually 3-4 bedrooms.
Current Homes for Sale in the Golden Hills of North Redondo Beach
What is a " 3 on a lot townhome " in Redondo Beach?
One of the property types fairly unique to Redondo Beach is the “3 on a lot” townhome. When most buyers, especially those coming from out of the area, think of a townhome they picture endless rows of identical looking houses. Many buyers reach out to me looking for a single family home in the area, but unfortunately, can’t always afford single family homes in Redondo Beach. I often recommend that they consider a townhome as they’ll generally get nicer, newer, larger and better location for a lower price. Most of the time this idea is quickly rejected but once I show them the concept of a “two on a lot” or “three on a lot” they become far more interested. A great number of the lots in North Redondo are fairly large for the area at 50×150. These lots originally had some type of bungalow or duplex built in the 50s and many were long ago sold and knocked down. Due to zoning rules in Redondo Beach, what replaced them were most often townhomes.
A “3 on a lot” townhome is a building in which 3 units share the lot. These 3 on a lot townhomes are always connected, unlike some 2 on a lot situation, with shared walls between the front unit and middle, and back unit and middle.
Front Unit – usually has some type of front yard that, while technically often “common use” areas, they are generally used only by the front owner. The units often have square footage of 1700-1900, 3 bed, 2 1/2 bath, at least one balcony, attached garage and one shared wall (garage below and often living room above. Most often there are two bedrooms and 1 bath downstairs, with the master bedroom, living room and kitchen upstairs. These units are often the brightest but also front the street.
Middle Unit – The middle unit is often the least expensive of the three units due to the multiple shared walls and no yard. Square footage is often between 1700-2000 square feet and either has the same configuration as above, or often times has 4 bedrooms with 2 downstairs, master upstairs and a very small 4th bedroom upstairs. Living room is often smaller in the middle unit.
Rear Unit – Usually the most expensive as they almost always have some type of private yard in back. Configuration is often the same as the front unit, but usually some type of sliding doors/French doors from one or both of the downstairs bedrooms accessing the backyard.
One aspect that many buyers find difficult to accept is the fact that there is an HOA. Unlike large complexes with management companies, HOA board meetings etc., the HOA on a 3 on a lot can be very low key and sometimes not even active. As the 3 owners collectively own a portion of the land, the HOA cannot be dissolved but in many cases it is inactive. In general they are informal affairs with the minimal HOA fees (often around $175 a month) covering landscaping and shared insurance and each owner covering maintenance, and other items separately. As with any property not wholly owned there are possible challenges and frustrations as owners (just like neighbors) don’t always see eye to eye on fixes, repairs like termite work, roof fixes, etc. Overall the benefit of the townhouse concept is that the same price that may purchase a 1100 foot 2 or 3 bed 1 bath house in need of work, can purchase a 1800 foot 3 bedroom 3 bath townhome that’s far newer. Real estate purchases almost always involve compromises and priorities and depending on just what’s important to a buyer in Redondo Beach, a 3 on a lot townhome might be an ideal fit.
If you are looking to purchase a home in the South Bay and want to visit open houses in Manhattan Beach, Hermosa Beach, Redondo Beach, Torrance, El Segundo and surrounding areas, you’ve come to the right place. Our South Bay open house list has weekly schedules for all South public open houses. Take advantage of our HomeFinder and have new listings emailed to you daily. Open House schedule subject to change without any notice.
The South Bay saw big numbers in August 2013 with impressive increases in both median home price and the number of sales in many of the local communities. Hermosa Beach posted some of the most impressive numbers with 30 closed sales in this small beach community and a median home price of over $1.2M. “This is a big number but it’s especially impressive as it’s a 40% increase over median home prices in Hermosa Beach in August of 2012″ according to Hermosa Beach realtor Keith Kyle. Other cities enjoyed significant gains as well. Click on any link below to view the homes sold and home sales prices for August.
