Just Sold: 4919 Reese Rd Torrance
My Buyer clients just closed on this really unique house in the Torrance “Christmas Lights” neighborhood of Seaside Ranchos. This one proves that location is the most important feature to consider because this property needs everything and my clients will do a substantial remodel - like down to the studs.
I’ve seen a lot of Torrance “hodge-podge” remodels but this one really took it to another level for absurdity. The previous owner took what was a 3 or 4 bedroom house and turned it into a 2 bedroom - albeit with very large bedrooms. For a property that was over 2700 Sq Ft, well the space wasn’t used well. As for the over 8000 Sq Ft lot - most of it was taken up with a huge pool that was turned into a koi pond.
Other than the terrible sense of mold when we first walked in, there were some red flags that really concerned me. The house has a ton of deferred maintenance but also there was a railing missing on an external staircase which I assumed with be a red flag for an appraiser plus I wasn’t sure of the pool / koi pond wasn’t going to be called out.
And as I thought, both came up on the appraiser’s report. As a consumer, you may not be aware that appraisers, in addition to looking at property values, also rate the condition and call out any health and safety issues. So here’s what I also found out, the collateral departments in banks can override the underwriter. (Always a good thing when the underwriter has to answer to a higher authority.)
As it turned out, the collateral department was ok with the Koi pond remaining untouched, even though the appraiser had assigned a value as a pool. But we did have to fix the railing. I actually helped the Buyers do that. Full service, not what you see on Selling Sunset for sure.
As for the pool, the Buyers will be filling it in and returning the space to backyard.
So with these issues, why would someone want to buy this house? Location, location, location which is why it closed escrow for $1,735,000.
The Seaside Ranchos neighborhood is just over the border from South Redondo Beach and offers the charm of the Beach Cities on larger Torrance lots. Along with the Hollywood Riviera, it is one of the most desirable places to live in Torrance and the South Bay.
“The Seaside neighborhood is more than 60 years old and offers 2 parks;
Sea-Aire and Seaside Heroes Park. At Sea-Aire there is a 9 hole pitch and putt golf course, children’s play area and a community room. We have one of the best elementary schools in Torrance, Seaside Elementary. “Sleepy Hollow” as Seaside is fondly called, is known for its spectacular Holiday Lights display during December attracting visitors from all over SoCal and beyond”
ABOUT THOSE LIGHTS
I guess we’re not supposed to say Christmas anymore or something like that. So now, think of the display as “Holiday Lights”. Here’s the background.
For several years, residents in the Seaside Ranchos neighborhood in Torrance have elaborately decorated their homes for the holidays. The annual neighborhood coordinated light display in the Seaside Ranchos area of Torrance is not a city-sponsored nor a city-sanctioned event. The decision to do, or not to do, these displays is entirely upon each of the homeowners and the City is not in any way involved in that decision-making process.
Over the years, this neighborhood event has attracted large crowds and has created potential safety hazards. Although not a City event, the City of Torrance does have an obligation to address public safety concerns so there are some traffic control restrictions put in place.