1300 The Strand - The Beach House Hermosa - 301 sells at $650,000
One of the more notable sales in Hermosa Beach during December was the rare sale of a condo/hotel unit at the highly sought after Beach House Hermosa. This beachfront hotel is always in demand and ownership ofers a really unique situation.
The unit that sold, #301 actually faces east so it doesn’t have any sort of beach views and is definitely not ocean front but the price is still very appealing given that beach front units are in the $1.2M range. We’re not sure of the full situation as the same realtor represented both the buyer and the seller and it sold for $50K below the list price after just a week on the market.
The Beach House is a VERY unique ownership opportunity as it’s not a timeshare but full ownership of a specific unit. The proceeds from rentals are split between the hotel and the owner 50/50. Owners can stay in their condo up to 90 days a year with the rest being required to make available for rent through the hotel. This was the agreement made with the California Coastal Commission when built to ensure public “access” to the beach for non-owners. The only other property in our area that is similar is Terranea resort in Palos Verdes in which people own the Casitas.
1300 The Strand #301 Beach Facts and Features
- 1 bathroom
- 439 square feet
- Beachfront building but not beachfront unit
- Built in 1998
- $1,054 monthly HOA
- Listed by Steve Schloeder – Bonanza Realty – 310-327-0555
- Sold at $650,000