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Real estate and homes for sale in the South Bay

Homes in the Beach Cities and South Bay

Coming Soon – 1 Bedroom Ocean View Top Floor Condo in The Village Redondo Beach

September 12, 2019 by admin

We’re currently in the process of helping the seller remodel this wonderful condo in Redondo Beach and it should be coming on the market in the next 2 weeks.  If you’re looking for a top floor condo with great amenities and a fantastic oceanview, we may have the perfect fit for you.  Take a look at the good life in The Village Condos and Townhomes or see the current homes for sale in this oceanview community in South Redondo Beach, CA 90277

Contact listing agent Keith Kyle with Vista Sotheby’s International Realty at 310.251.2344 or via email at Keith@KeithKyleHomes.com

Filed Under: Condos for sale, New Listings, Ocean view homes, Oceanfront Homes, Off Market Listings, Redondo Beach, South Redondo, The Village Tagged With: keith kyle, oceanview condos, redondo beach homes, the village condos, vista sotheby's international

Understanding a Land – Lease Property

July 30, 2019 by admin

**The following article was written many years ago but it’s still relevant today. There are not many land lease properties in the South Bay but there are some located primarily in Torrance and San Pedro.

Understanding a Land – Lease Property

By Patrick Barta
Special to RealEstateJournal

A land-lease property is one in which the land beneath the building is owned by someone else. While such an arrangement can make buying a property a little more complicated and can in some cases reduce the unit’s resale value, it’s usually not a big problem, and it certainly isn’t a reason to dismiss the transaction out of hand.

Although land-lease properties are relatively uncommon, they do pop up in some big cities, especially New York. Typically, they occur when a real-estate investor refuses to sell the land that a developer covets for a residential building. If the developer really likes the location, and can’t find a good plot of land somewhere else, sometimes he or she will agree to a land-lease arrangement, paying to lease the land for a specified period — like 50 or 99 years — and then erecting the building. Land-lease arrangements are also known to occur when developers convert a rental property to an owner-occupied cooperative building, but the original owners refuse to sell the land.

There are downsides for people who want to buy units in these buildings.

The properties are sometimes harder to finance and consequently harder to sell, possibly reducing their resale value. There also could be some extra costs involved in owning the units, as well as some negative tax implications. But land-lease properties also have an upside: They’re often discounted relative to other nearby properties, offsetting some or all of the risk and hassle involved in owning them. In some cases, that discount is tiny, but in other cases, it can be as high as 25%, real-estate agents say.

One reason for all the hassle is that someone has to pay for the lease on the land, and often, that cost is split up among the owners of all the units. In many cases, that monthly lease expense is tacked on to the maintenance fees that are being charged to individual unit owners. Another weak point is that some lenders are afraid to extend credit for a land-lease property if the lease is likely to expire within a few years. Although it’s extremely unlikely the landowner would refuse to renew the lease or decide to build something new on the site — indeed, most leases are renegotiated in advance of the expiration — lenders still worry about their collateral, and the owner could jack up the lease fee. That, in turn, would raise the unit owners’ costs and possibly reduce the market value of the units.

Despite all that, if the land-lease arrangement has plenty of time before it expires — say more than 20 years — there’s little reason not to dive in. Once some of the terms are worked out, “it’s like any other purchase, and as long as you go into it with your eyes open,” you should be fine, says Stephen Kotler, an executive vice president at Douglas Elliman, a New York-based real-estate brokerage. At the very least, you could be getting a bigger, nicer unit than you would have been able to afford otherwise.


Filed Under: Condos for sale Tagged With: land lease properties, real estate, understanding land lease

Their Loss is Your Gain – Oceanview Condo Back On the Market in Redondo Beach

July 30, 2019 by admin

Many potential home buyers think that they are priced out of Redondo Beach and that the dream of living near the beach and enjoying great ocean views is outside of their reach.  The home located at 610 The Village in the heart of Redondo Beach may just be the perfect fit.  This unique opportunity in The Village of Redondo Beach may be your way to buy in this iconic coastal city.  This studio condo at 610 The Village #302 in South Redondo 90277 just fell out of escrow due to issues with the buyers.   This is the lowest priced home in the city and the only property for sale in Redondo Beach priced below $500,000!  This could be your transition from renter to owner…or a  great investment property (last studio in the Village rented for $2,000 a month)…..or the perfect second home or vacation home.  Contact listing agent Keith Kyle for more information on this great opportunity to own your piece of paradise in iconic Redondo Beach, California

Details:

  • Price:  $485,000
  • 410 Sq foot studio
  • Top floor with nobody above and only one shared wall
  • Great ocean view
  • Walk to the beach and pier
  • 2 Parking spots
  • Fantastic community amenities with several pools, fitness center, bbq areas,  lounge areas near the pools, jacuzzis, parklike grounds and more.

610 The Village Photo Gallery


  

 

Filed Under: Condos for sale, Keith Kyle, Ocean view homes, Real Estate, Redondo Beach, South Bay, South Redondo, The Village, Vista Sotheby's International Realty Tagged With: keith kyle, oceanview condos, oceanview homes, redondo beach real estate, the village condos, the village redondo beach

Redondo Beach 2 on a Lot Townhomes Explained

June 24, 2019 by admin

Something fairly unique to real estate in Redondo Beach is what’s known as two on a lot townhomes.  When most people think of townhomes they envision a row of identical looking homes with shared walls, lots of neighbors, and a big HOA.  Redondo Beach 2 on a lot townhomes are dramatically different and many buyers from out of the area have trouble wrapping their heads around what this means.

See the current two on a lot townhomes for sale

Simply put a 2 on a lot townhome is a property in which the owner “owns” their home but instead of owning the lot or land outright…they own a 50% share of the lot.  When many of the original homes were built in Redondo Beach, the homes often enjoyed great lots of 7500 feet.  The original homes were simply beach bungalows or small duplexes.  As these R2 lots began to dramatically increase in value they were often purchased by builders looking to increase their return by building two homes on the lot.  Technically considered townhomes, or even condos due to the fact that the land is “shared” by the members of the homeowners association, for almost all intents and purposes they look and feel like single family homes.  See also 3 on a lot townhomes” in Redondo Beach.

Aerial View of 2 two on a lot townhome buildings. Closer home is attached and rear 2 are detached

Whereas a standard single family home priced around $1,400,000 may be 3 bed/2 bath and about 1600 feet and built in the 1950’s, these detached townhomes are generally newer, nicer and larger and often have 4 bedrooms, 3 or 4 bathrooms, 2000+ square feet and the built within the last 15 years.  They also often have all of the luxury finishes, such as master suites with walk in closets and jacuzzi tubs, gourmet kitchens with granite counters and stainless appliances, hardwood floors, recessed lights and laundry rooms.  In addition they have attached garages and most have smaller yards.

Other than the architecture and often a shared driveway they really do feel like single family homes.  As the “association” is simply comprised of the two neighbors the formalities are often only shared insurance and shared landscaping.   Sometimes even those are handled by the separate owners and for all intents and purposes it lives like a single family home.  As the structures are not attached responsibilty for upkeep often falls on the individual owner which limits some of the usual “HOA” challenges and annoyances.  Keep in mind that the HOA can never be disolved, but are often so informal they exist in legality only.  Both front and back homes are generally equally sought after as the front unit is often brighter but sits in front of the driveway the rear unit uses, while the back unit often has a bit more sense of privacy and often has a slightly larger yard.

Current Townhomes for Sale in North Redondo Beach

Filed Under: Condos for sale, Redondo Beach Tagged With: 2 on a lot townhomes in redondo beach, attached townhomes, detached townhomes, redondo beach townhomes

3 on a Lot Townhome – Redondo Beach Real Estate

June 24, 2019 by admin

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.

3 on a lot townhomes redondo beach
Front of a 3 on Lot
3 on a lot townhomes redondo beach
Aerial View of 3 on a Lot
3 on a lot backyard in Redondo Beach
Typical Backyard Area for the Rear Unit
3 on a lot townhomes redondo beach
Front “A” Unit on a 3 on a 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. The most common details of the units are:

  • 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.

Filed Under: Condos for sale, North Redondo, Real estate tips, Redondo Beach Tagged With: 3 on a lot, redondo beach townhomes, townhomes

Our Newest Listing in 360 South Bay

June 11, 2019 by admin

Featured Listing at 5553 Coral Drive in Three Sixty South Bay

We are proud to announce the listing of this beautiful home in 360 South Bay.   5553 Coral Drive #105 is a residence 1 floorplan in the Townes located in  perhaps the best spot of all of the Townes units.  Offering 1,630 *square feet and an extremely adaptable layout that offers several multi use rooms to work for any lifestyle.

Enter through the front door to a bright and open room perfect as a formal living room, den, office, library, formal dining room or even a spare bedroom.  Just beyond is  the spacious and open kitchen with gleaming cabinetry, stainless appliances, recessed lights and beautiful countertops.  The kitchen island is perfect for entertaining and the rows of additional cabinets make for ample storage.  The open living room with direct access to the outdoor deck offers an abundance of natural light with large windows and the overisized room can adapt to a multitude of layouts.  The large deck offers the perfect place to sit back, relax and enjoy the cool ocean breezes.

Details

  • Priced at $890,000
  • 1,630 square feet
  • 2 bedrooms plus office, plus bonus room
  • 2.5 baths
  • 3 car attached garage
  • Central air conditioning
  • Outdoor deck
  • Turn key condition
  • Contact listing agent Keith Kyle for more information or to set up a private showing

Head up the elegant staircase to dual master suites plus a spacious bonus room.  Unlike the 3 bedroom Townes units, the plan 1 offers a much larger master suite with large windows, his and her walk in closets, great light and plenty of space.  The master bathroom is a delight with dual sinks, brushed nickel fixtures, spacious shower and more.  Seperating the two bedrooms is a area perfect for tv room, play room, office, den or just about anything that fits your lifestyle.  The 2nd master suite is open and bright  with a spacious layout and walk in closet.

All of this located in Three Sixty……the premier gated community in the South Bay.  This fantastic community offers a resort lifestyle with multiple pools, spa, social area and firepit, poolside cabanas, wine room, incredible club house, parks, playgrounds, dog park, sports court and a state of the art fitness center.  The community resides in the Hollyglen area and is part of the award winning Wiseburn School District.

keithkyle

Keith Kyle


Top Producing Realtor
DRE# 01712785

310-251-2344 cell/text
Keith@KeithKyleHomes.com

Filed Under: Condos for sale, Homebuyers, New Listings, South Bay, Three Sixty, Vista Sotheby's International Realty Tagged With: 5553 coral drive

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