Years ago one of my clients said, "I'm sure the day will come when I don't want to work 60 hours a week."
I nodded and wondered where he was going with the conversation.
He continued, "I'm thinking about purchasing income property. Is that something you can help me with?"
"Yes" was my short answer. I went on to say we have helped several residential clients purchase income properties in the South Bay of Los Angeles, and have listed income properties as well.
When purchasing income properties in Los Angeles, or units as they are often referred to, it is important to know several communities fall under Los Angeles Rent Control. Rent control adds another layer, actually several layers, of additional rules and regulations landlords must adhere to with properties subject to rent control. Properties built prior to 1979 fall under rent control.
The competition is keen for income properties in the South Bay, especially in the beach cities of Manhattan, Hermosa and Redondo. The demand for rental units is always high in those coastal areas and of course the location is prime as well. Those two factors combine to keep the demand high and the supply low. This translates to higher prices and more competition often in the form of multiple offers for a desirable property.
If you would like a little guidance in locating and purchasing income property in the South Bay of Los Angeles Charlemagne Int'l Properties is here to offer our expertise and guidance.
- Norma (310) 493-8333
South Bay Income Property for Sale: (Under $800,000)
South Bay Income Property for Sale: (Over $800,000)