3310 The Strand, Hermosa Beach: a north Hermosa Strand house sold at $7,500,000

Sold

On the Strand the house is the smaller part of the price. 3310 The Strand is a 2,244 square foot house on a 2,223 square foot lot in the Shakespeare Beach tract at the north end of Hermosa, on the sand, with the ocean in front of the entry level and the floor above it, and a studio at beach level with its own patio a few feet from the sand. We listed it at $7,775,000 in the summer of 2023 and closed at $7,500,000 on September 26, after 77 days, at $3,342 per square foot of house. The record dates the structure to 1910, and the lot, not the house, is what the buyer paid for.

What was the house?

Three levels stacked on a Strand lot. The entry level holds a living room with a fireplace and a wide balcony over the sand, a bar, the kitchen, the dining room, a powder room and the laundry, with a two-car garage, extra living space and a patio at the back of the same floor. Upstairs the primary suite faces the water behind a glass-railed balcony, with a family room and two more bedrooms sharing a bath beyond it. At beach level, a studio with a living area, a kitchenette, a bath with a shower and a private patio opens toward the sand. Four bedrooms and five bathrooms in all, on a lot at the north end of the Hermosa Strand.

What was the goal?

To sell a Strand property whose value was mostly the lot to the buyer who would pay for the location and decide the house’s future afterward. The stakes on the Strand are that the buyer pool at this price is small, that each buyer has an opinion about whether to keep, remodel or replace the structure, and that the spread between those opinions shows up in the offers. The strategy was to price at $7,775,000 against the recent north Hermosa Strand sales, to present the house as it stood, with the views from two floors and the beach-level studio as the case for using it while deciding, and to hold the price through the summer while the right buyer arrived.

The house closed at $7,500,000, 3.5 percent under the ask, on September 26, 2023, after 77 days. A sale at 96.5 percent of list on a Strand lot after one summer is a full-value result at this level; the lot set the floor and the marketing period found the buyer who would pay it.

What does the sale say about the Hermosa Strand?

That the north end of the Hermosa Strand, in the Shakespeare Beach tract, prices its lots in the same territory as the Manhattan Beach Strand, and that a buyer at $7.5 million is buying frontage first and the house second. See the Hermosa Beach Sand Section for the neighborhood, Hermosa Beach for the city, and fixer, remodel or tear-down for the decision every Strand buyer of an older house is making.

Update: sold

If you own on the Strand and the house is the older part of the asset, the price is a lot price and the marketing is a matter of finding the one buyer who agrees. Send Neil the address and we will tell you what the frontage is worth on the current record. The Sellers page describes how we market a Strand property.

Sources

• California Regional MLS listing record, SB23081448; closing figures as reported to the MLS
• Hermosa Beach Sand Section; Hermosa Beach

Written June 2023; updated September 26, 2023. Property facts, list price and days on market are from the California Regional MLS listing record (SB23081448); the sale price and closing date are public record. Represented by Neil Chhabria, Chhabria Real Estate Company. This article is general real estate information about one sale, not tax, legal, lending or investment advice, and not a statement about the value of any other property.

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