Just Sold: 2417 Grant Ave Unit B Redondo Beach
My listing at 2417 Grant Ave Unit B in North Redondo Beach just closed escrow for $1,050,000. It was listed for $949,000 and we had multiple offers (of course) and the Sellers got a short leaseback to move to their new home (ditto).
With the huge run up in prices, newer and nicer 3 on a lot units in 90278 have jumped in price by at least $100K just in the first 5 months of 2021. Last year, similar properties were trading in the $900’s like the one I sold at 1904 Slauson Ln.
I am seeing that Buyers will place a premium on turnkey move in homes and that’s exactly what this one is. The Sellers had done a number of updates over the last few years putting this 2003 build into just about new condition. Particularly desirable were the gorgeous wood floors.
WHAT’S A 3 ON A LOT?
Redondo Beach has a lot of housing jargon specific to the homes found there. A three on a lot Townhouse is exactly what the name implies: one of 3 units that are usually attached to each other row style on one lot. Each unit has its own APN. These properties are zoned as condominiums. Townhouse is a property description, condominium is a legal description and a property description. Usually as applied locally, we think of condos as the flat apartment like properties located in larger buildings.
You will typically find 3 on a lots on Vanderbilt, Carnegie, Rockefeller and Grant and east of the greenbelt on streets like Voorhees and Ruhland although there are some further west on Mathews.
The floorplan almost 100% of the time is “reverse” meaning the living room, dining room, and primary bedroom are found upstairs with 2 bedrooms downstairs. In that regard, they are similar to what we call Tall & Skinny SFRs usually found in the Golden Hills neighborhood. Getting confused? Here’s a guide to some of the local jargon. And for those who like more visual presentations here’s the video of this property:
New construction 3 on a lots are larger than this unit. Many are over 2000 Sq Ft and these days might be built with loft and roof deck. If you haven’t seen any of these on the market, hold on to your seat, they are selling for close to what resale 2 on a lots are going for currently. Expect to pay north of $1.35M for new construction. Wow.
ARE YOU LOOKING FOR A HOME IN NORTH REDONDO BEACH?
Inventory has been at historic lows since Q1 2020 and prices have gone up with double digit increases as a result. Because Redondo Beach is one of the best values in coastal LA County, expect that trend to continue into the future indefinitely.
Here’s all the most recent listings. This blog post will update with the most current inventory whenever you return to this post. That’s a pretty good reason to come back! (Refresh your browser if the listings don’t show.)
INSTANT AUTOMATED VALUATION
The best way to determine the current value of your home and how to sell it for the highest possible price is for me to come take a look and provide a FREE no obligation Broker’s Price Opinion. But if you want a quick valuation different than what you will find on Zillow, just start typing your address in below:
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