The Beach Cities of Los Angeles continues to be one of the hottest markets for income units in the South Bay area. The demand for 2-4 unit buildings has soared, with developers grabbing up the smaller buildings to replace them with quick profit townhome build outs. Investors are chasing the triplex and fourplex market due to attractive financing. But even the larger complexes are selling too, with sales going over $5 million on a regular basis.
As units are replaced by new townhomes, the income property inventory isn't being replaced. Developers and unit owners just aren't putting in more apartments. This is partially due to the current zoning restrictions which encourage less density. Developers also see much better and quicker returns in selling off brand new townhomes instead of collecting rents.
Investors saw that even in the market downturn of 2008-2010, the Beach Cities and Redondo Beach property values did much better than other areas in California. This coastal stability is a very attractive feature of Redondo and the South Bay in general. There are always renters looking to live by the ocean and have that "Bay Watch" lifestyle they've dreamed about.
Would you like more information about income units in Redondo Beach? Find out the current market value of apartments you own? Toering & Team has helped many investors with both buying and selling investment properties around the entire South Bay of Los Angeles. Let us know how we can help!
- Josh Toering (310) 525-9440 or email ToeringandTeam@gmail.com
Redondo Beach Units for Sale: