Priced out of The Strand in Manhattan and Hermosa? Great Option in the Hollywood Riviera

By Keith Kyle

I get a number of inquiries from my site SouthBayOceanFront.com from buyers looking for a beach front home on The Strand in Manhattan Beach and Hermosa Beach.  Many of these buyers are extremely qualified and have the ability to comfortably purchase multi-million dollar homes.  The problem in today’s market is that values along the beach in Hermosa and Manhattan have gone up considerably in the past 18 months.  There are currently 9 oceanfront single family homes on The Strand and 8 of them are priced over $10,000,000.  That was a relatively unheard price point just 2 years ago and now there are several over $15,000,000.

So what is a $5,000,000 buyer to do?

Unfortunately homes becoming available in that range are probably a thing of the past, but there is an option not far and it may even offer attributes that The Strand can’t offer.  The area is the Hollywood Rivera (about 10-15 minutes south) and there is a fantastic bluff top street called Paseo De La Playa that offers oceanfront homes, large lots that extend all the way to the beach (some fortunate homes have paths that access the beach directly from the home), and views not only of the beach, but Palos Verdes, the ocean, King Harbor, and coastline views that extend all the way to Malibu.

As of this post, there are 2 oceanfront homes for sale on Paseo De La Playa.  The first is currently in escrow located at 605 Paseo De La Playa and is listed for $4,295,000.  The second is an off market sale in which the owner is trying to sell it themselves at 617 Paseo De La Playa and the owner is asking $4,350,000.

The homes on Paseo were all originally on leased land with many of the former owners buying out the leases in the past and are now owned free and clear.  Built in the 60’s and 70’s some of the homes are fairly original while many have been extensively remodeled.

Paseo De La Playa homes for sale

Endless Ocean Views – Paseo De La Playa in the Hollywood Riviera

Oceanfront homes on Paseo de La Playa

Get to know the homes of this incredible street in the Hollywood Riviera

By Keith Kyle

The Hollywood Riviera is one of my favorite areas of the South Bay. It offers great views, a small town community feel, ever present ocean breezes, and homes that generally fit on the lots (no McMansions) which make for a feel that you don’t often get in the overcrowded South Bay.  It’s hard to go wrong with any location in this coastal community but there’s one street that beats them all. Paseo De La Playa offers oceanfront living for the lucky few and enjoys the best of all imaginable views.  The homes sit up on a bluff, and enjoy views of Palos Verdes, panoramic ocean views, and coastline views from Redondo Beach all the way to Malibu.  What that makes for is ever changing, always impressive views.  During the day it’s all about the ocean and coastline, but in the evening when colors change, it becomes a fantastic city lights view along the coast.

Paseo De La Playa homes for sale

The lots are huge and usually in the 20,000+ range although may are on leased land often with an option to buyout the lease every few years.  Depending on how high on the hill you are (lower elevation homes on towards the left above) there is sometimes direct beach access from the homes which dramatically increases the appeal as “RAT” beach (Right after Torrance) is just below and almost serves as a private beach as access is limited to a fairly long walk from the parking lot.

Homes on this street rarely become available and many are still in fairly original condition with original owners from the 1960s (honestly why would anyone want to move) and range anywhere from the low $3,000,000s- to well into the $6.0M’s for anything remodeled, especially with beach access.

Adding beach access, if not already there, is a huge struggle as it’s tightly regulated by the California Coastal Commission.  The only minor inconvenience to living on Paseo De La Playa is that it’s a moderately busy street and a frequent route for both cars and bicyclists going between Redondo and Palos Verdes.  There is one condo complex at the top of the street called Cote D’Azure with 87 units perched high on the bluff surrounding extensive grounds and pools.  The units are 2 bedrooms generally ranging between 1300-1550 square feet.  Many units do not sit oceanfront and have limited views, while the rare few offer similar views to the SFRs just down the street.

Overall the homes on Paseo De La Playa offer some of the best features imaginable for those looking into the epitome of California coastal luxury living.  

If you’re searching beyond just the oceanfront homes of Paseo De La Playa, visit our Hollywood Riviera real estate and homes for sale site for helpful information, recent Riviera news, current listings and more.

Paseo De La Playa Homes

South Redondo homes

Hollywood Riviera Home Prices On the Rise

The Hollywood Riviera real estate market has taken off in the past few weeks with a median list price of over $1.5M which is a fairly unbelievable number for an area with a median sales price of just over $1.0M for the past 4 months.  Included in these sold homes was the ocean front home at 623 Paseo De La Playa which sold for $2.625M and without that very unique sale, median prices would have been considerably lower.  What accounts for this incredible increase?

According to Redondo Beach specialist, Keith Kyle, it is a combination of a number of factors.  “The market has clearly changed in the past few months with inventory dropping and prices rising.  In addition the homes currently on the market just happen to be more upgraded and larger as sellers with luxury homes in the Hollywood Riviera have decided it is great time to list their homes.  One last factor is the dramatic reduction in the number of distressed sales.  As of a year ago distressed sales made up a sizable portion of the listings and are almost non-existent these days.”  Click here to view the most recent home sales in the Hollywood Riviera.

Current Hollywood Riviera Homes for Sale

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