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Alex, Home Buyer in Redondo Beach, CA

What is the average price per square foot for land only in South Redondo Beach, California?

Asked by Alex, Redondo Beach, CA Wed Apr 16, 2008

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I agree with Tony. The prices have dropped severly in the new construction market. Many builders have gone under. The banks supporting the building loans have gone under. 6500 sq ft lot in South Redondo is going for $675,000 (it used to be over a million) and the lots in North Redondo (7500 sq zoned R3 have been bought for under 600k (and they used to go all the way up to $900,000)

So doing the calculation of 6200 sq ft with a $700,000 lot value, probably around $112 a square foot.

I've been working with buildable lots for years.
0 votes Thank Flag Link Tue Jan 26, 2010
Unfortunately the demand for lots in South Redondo is far off it's peak since builders have been hit in many directions in recent years (new city approval process, tight construction lending, recycling requirements to demolish existing structures.. to name a few). That said, the comparables in the past 90 days are few and far between. Keep in mind as well, South Redondo has some unique zoning in specific neighborhoods and an R3 lot can bring a premium of about 15-20% (since a builder could increase his land acquisition cost for more than one unit). All said, I would suggest a fair price for a standard 6000sf lot in South Redondo of about $120 East of PCH and $140 West of PCH. Keep in mind that odd sized lots reduce the amount of construction square feet allowed as well ocean view and premium street locations can increase value substantially. If you are interested in selling that I may suggest an appraisal that includes a zoning review with the city.

I do work with a builder that specifically constructs in South Redondo so I'd be happy to get you an offer...
0 votes Thank Flag Link Wed Jul 1, 2009
Hi Alex. It really depends on the exact location in South Redondo and the size of the lot and since there are not many vacant lots. what is on the property. To answer your question in general terms, probably $150 to $200 per sf. If you have a more specific question, I'm happy to try to answer.
0 votes Thank Flag Link Wed Apr 16, 2008
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