There is a town called San Pedro in Los Angeles county that may be the hidden gem of southern California real estate.
San Pedro is a small town by the beach. Plenty of coastline. Harbor and marina with cruise ships and sailboats. Plenty of activities in the area. For example, just .5 mile away is the Trump National golf course and the Terranea resort.
The town borders high end Rancho Palos Verdes, but homes in San Pedro can be found at significantly lower prices. There are spectacular homes with panoramic ocean, Catalina Island and mountain views that can be purchased at prices lower than any coast town.
Here is a recent example from Redfin that has remarkable views of ocean, mountain, & city:
This is a spacious 2500 sq foot home on a 25,000 sq foot lot with panoramic ocean and city views for only $1,100,000. See the details of this new listing here:
https://www.redfin.com/CA/Los-Angeles/1666-Morse-Dr-90732/home/7736819
Place this type of property in a neighboring beach town and you can add 50-300% to the price.
THE UPSIDE OF SAN PEDRO REAL ESTATE
In March 2016, LA Councilman Joe Buscaino announced a new waterfront development for San Pedro. This phase of the development will be over $100 million. Its set to be called the "San Pedro Public Market".
Here is an LA TIMES article on the development: http://www.latimes.com/business/la-fi-ports-o-call-renovation-20160302-story.html
The secret is this development has been going on for a couple of years now. The USS Iowa battelship was brought in as well as other additions since 2011. From LA TIMES:
"The port opened a $32-million promenade and small harbor inlet in 2014 designed to host festivals and movie nights. A $125-million revamp of the Cabrillo Way Marina wrapped up in 2011, and the battleship Iowa opened to visitors a year later. In 2012, a marketplace known as Crafted opened, and a brewery debuted this year.
In all, the port plans to have invested $1 billion by 2026 in sprucing up the waterfront from Wilmington to San Pedro, which has been rebranded the L.A. Waterfront."
This waterfront development will have a massive impact on real estate values in the area. The plan will bring in restaurants, small offices, retail shops, ferris wheel by the sea, and much more. What does it mean to real estate values in San Pedro? It will boost home values in this beach town.
Right now, I'd call San Pedro the "Undiscovered Gem Of Southern California Real Estate". If you or a client are looking for spectacular beach view properties AND a good investment then check into San Pedro real estate today! It's a great opportunity in a fantastic California beach town.
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