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| Remodeled Rancho Palos Verdes flip |
There's always a few neighborhoods that buyers seem to over look for whatever reason that is only know to the crowd addicted to whatever Real Estate mobile app they are perpetually glued to.
For example, at the Beach right now, I see a lot of opportunities in South Redondo. For those who can't afford South Redondo SFR prices, the best place to look is Southwood - particularly west of Palos Verdes Blvd.
On "The Hill" and more specifically for those in between the beach and the hill, I highly recommend looking in the Silver Spur neighborhood of Rancho Palos Verdes.
Here's what I define "value". Take a nice property in a good neighborhood and move it 1/4 mile to 1/2 mile in another direction. If the price goes up 10-20% there's your value. One of the best examples of this I see right now is N Redondo Beach where you can move many homes 1/2 mile to Manhattan Beach or Hermosa Beach and in some instances double the price. Or more.
So back to Silver Spur.
I see homes selling there for considerably less than if they were in the Hollywood Riviera or Palos Verdes Estates. And we might soon see an inversion to some neighborhoods in Torrance. In fact we're probably seeing that right now compared to The Seaside Ranchos area.
Often people think PV is too far away. Maybe it is. But if I asked you to drive an extra hour a day for 10 years for $500K would you do it? Some would and others wouldn't.
A great example of what I am talking about is the remodeled SFR at 5950 Flambeau Rd Rancho Palos Verdes 90275 pictured above and below.
Priced at $1,049,000 and in escrow after the weekend open house. Here's the MLS description:
"Welcome to this amazing retreat in the beautiful hills of Palos Verdes. This home defines classic elegance with it’s warm yet sophisticated finishes. This one level remodeled home has everything you’ve been waiting for with an open living, dining and kitchen areas. The multitude of windows and french doors welcomes in natural beauty of the green lush front and back yards, and gives this home a unique and special setting. Upgrades include hardwood floors throughout, designer tile, marble counter tops, and top of the line appliances. This home features a beautifully landscaped picturesque front yard with views of the Mountain tops and the back yard opens up from the dining and kitchen area which is perfect for entertaining or just tanning on your expansive deck. With just under 1400 square feet, this home makes great use of the space and feels much larger than the stats give it credit for. With a quaint master suite and it’s own separate laundry/mud room that you can enter from the back patio, this home has all the conveniences for even the pickiest of buyers. If the home was not enough, your location can’t be beat; with walking distance to shopping, parks, restaurants and all levels of the award winning PVUSD schools. You must come visit to appreciate."
Listed by Maureen Lee Keller Williams.
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