Tim Draper Sells Hermosa Beach Mansion For $18.5M

Billionaire venture capitalist Tim Draper has sold his 7,900 square-foot beachfront mansion in Hermosa Beach for $18.5 million. The property, located at 2826 The Strand, is a single-family home. The sale price of $18.5 million sets a potential record for the priciest home sold in the area. The average price per square foot for this property is $2,340.

Summary of transaction details:

• Property Type: Single Family
• Transaction Amount: $18,590,000
• Address: 2826 The Strand
• Market: Hermosa Beach

The deal was facilitated by Tad Thormodsgaard from Palm Realty Boutique, who acted as the broker representing Tim Draper in the sale. The sale of the beachfront mansion comes amidst a surge in luxury home sales in Hermosa Beach and neighboring Manhattan Beach, despite a slight decrease in median home prices in both areas compared to the previous year.