Thursday, October 31, 2013

Hermosa Beach - Income Property Snapshot

Hermosa Beach - View from the pier

Hermosa Beach is a fabulous little coastal city sandwiched between trendy Manhattan Beach and the much larger beach city of Redondo Beach.  However, when it comes to living the California beach lifestyle, Hermosa Beach has no trouble rising to the top of the list.

Not only are home prices on the rise in Hermosa Beach income properties are highly prized assets as there is always an ample supply of tenants wishing to live at or near the beach.  When you're the landlord, a waiting list of prospective tenants is a very good thing indeed.

Hermosa Beach income property market update for 2013 YTD:

  • 10 Hermosa Beach income properties are currently for sale ranging from 2 to 4 unites.
  • 2 Hermosa Beach income properties are pending sales ranging from 3 to 8 units.
  • 19 Hermosa Beach income properties close escrow YTD with 18 of them being duplexes and one sale of a unit at Beach House Hotel with rents shared with the hotel.

For more information on Hermosa Beach income property contact Norma Toering and Team at 310.493.8333 or Josh Toering at 310.525.9440.  We help you achieve your income property real estate goals.

Hermosa Beach income property and rental units for sale:

Manhattan Beach Income Property Snapshot

Manhattan Beach Income Property

Norma Toering & Team is seeking income property in the beach cities of Manhattan, Hermosa and Redondo Beach.  Several of our long-term clients are currently enlisting our assistance in helping them build strong real estate investment portfolios.  Consequently, I check daily for additions and changes to the current available inventory.

In addition to our market knowledge, we enlist the help of a Columbia MBA finance consultant to analyze the numbers and future potential of properties of interest.  We wish to give our clients the best service and information available whether they are purchasing a duplex or a large apartment complex.
The Manhattan Beach income property market is very competitive as this coastal city has some of the most expensive real estate in Los Angeles.  The market improvements of 2013 sent prices skyward making it difficult to find properties that make sense on paper and requiring the need to factor in future development value.

Here is what transpired in the income property market in Manhattan Beach YTD 2013:

  • 3 Active Manhattan Beach income properties for sale from 2 to 10 units.
  • 3 Pending sales from 2 to 5 units.
  • 20 Manhattan Beach income properties closed escrow YTD ranging from 2 to 10 units.

From more information about income property in Manhattan Beach contact Norma Toering & Team at 310.493.8333 or Josh Toering at 310.525.9440.

 Manhattan Beach income property and rental units for sale:

Monday, October 21, 2013

Beach Cities and South Bay Income Property

A prospective multifamily income buyer recently asked me, "Has the spring feeding frenzy in the income property market cooled, or will my offer still be one of many?" The truthful answer is it depends on the location and condition of the property. Premium properties in choice locations will still receive multiple offers. On the other hand, fixer properties in less desirable areas will likely present rehab opportunities so they, too, will likely draw multiple offers.

In today's market, it is hard to find a wallflower income property. Last week Norma Toering & Team submitted an offer on Hermosa Beach multifamily units just blocks from the Pacific Ocean. Yes, there were eight offers. Last week another client inquired about fixer units in Wilmington. They opted not to be offer number 11. These number reflect the current activity in the income property market. 

We are not seeing the 20+ offers common during the first half of 2013, but the income market remains strong as the end of the year approaches. Check out the city by city snapshot of sales so far this year.

Closed South Bay income property sales by city for 2013 YTD:

  •  Palos Verdes: 2
  •  Manhattan Beach: 18 
  •  Hermosa Beach: 18
  •  Redondo Beach: 28 
  •  Torrance: 58 
  •  Gardena: 50 
  •  El Segundo: 7 
  •  Lomita: 15 
  •  Harbor City: 7 
  •  Wilmington: 36 
  •  San Pedro: 96 
  •  Long Beach: 396
For more information about income property in any of the above cities contact Norma Toering & Team. We have clients interested acquiring income properties ranging from fixers at the low-end, to clients seeking properties at the higher end of the price spectrum. We will help you find multifamily units that match your investment goals.

 - Norma Toering and Team - REMAX Estate Properties (310) 493-8333

Income Property for Sale in the South Bay of Los Angeles (priced over $800K):

Income Property for Sale in the South Bay of Los Angeles (priced under $800K):

Wednesday, October 2, 2013

Expand Your Real Estate Portfolio

Several of my long-term clients are in an expansion mode.  They have their primary home and are ready to expand their real estate portfolio to include income property or perhaps a second home.

Rental Property Investments in Los Angeles South Bay

Although Norma Toering & Team possess extensive expertise in the local residential field, we also have a myriad of experience in selling income property in the South Bay of Los Angeles.  In addition, we have an expert consultant with commercial real estate and Columbia MBA credentials on retainer.  With his assistance, we are currently searching for a boutique hotel opportunity for a client.

If you’re in the market to purchase multifamily units in the South Bay, Norma Toering & Team welcome the opportunity to discuss your investment goals and help you chart a path to accomplishment.  We currently have a client with a 10-year goal of purchasing two to three properties per year.  It is our goal to help him build a portfolio of real estate holdings with current cash flow and future appreciation potential.

- Norma & Josh
(310) 493-8333