Thursday, April 21, 2016

South Bay Income Property - April 2016

There are 104 income properties on the market in the South Bay. This month's price range is from $339,000 for a triplex in San Pedro (rented out under-market) to $7.65M for a 20 unit building in northern Redondo Beach.

Quite a few income units accepted offers in the last month which has dipped the inventory a little. The Beach Cities in particular had many apartments go into escrow, so the available inventory in those cities dropped by half or more.

86 units are in escrow, which indicates a very active market and about 1.2 months of available supply. In March there were 27 apartment buildings sold. The highest sales price was $5.15M for a fourplex about a block off the Strand in Manhattan Beach.

Two to four unit building still dominate the available market in the South Bay at over 85% of the local apartments for sale.

Available income units by city:
South Bay available income units by type/size:
  • Duplex - 46
  • Triplex - 26
  • Fourplex - 16
  • 5-8 Unit Building - 12
  • 9-19 Unit Buildings - 1
  • 20+ Units - 1
  • Details not provided or non-code compliant "rental" units - 1
If you'd like more information on any of these apartments for sale, just let us know.

Josh Toering, REALTOR at Charlemagne Intl Properties
310-525-9440 or email us

Wednesday, April 6, 2016

Just Listed - Duplex in Wilmington CA

1111 Ravenna Wilmington CA - Duplex Apartment for Sale

Wilmington, CA is a “hot spot” in the South Bay of Los Angeles for income producing properties. Charlemagne Int’l Properties recently listed a side by side duplex on Ravenna Avenue, and this upgraded property will make a savvy addition to most rental income portfolios.

1111 & 1113 Ravenna Ave, Wilmington CA
  • $365,000 listing price
  • Two one bedroom, one bath units. One unit has remodeled kitchen. Some appliance upgrades.
  • Garage with two spaces.
  • 1152 sq.ft. building
  • 3630 sq.ft. lot
  • West Wilmington location is one of the highest demand rental areas of the city.
Each unit is one bedroom with interior laundry area and one space in the two-car garage. One unit’s kitchen was recently remodeled with new cabinetry, granite counters and stainless appliances. The other unit is upgraded with stainless appliances as well.

Income – One unit will be delivered vacant at close of escrow, so you can choose your tenant and rent rate.

  • Proforma annual gross rental income – $24000
  • 1 Bed/1 Bath rent – $950/month current rent
  • 1 Bed/1 Bath rent – $1050/month (proforma based on actual offers from prospective tenants)
Call us soon, this one won’t last!

Josh Toering, Realtor at Charlemagne Intl Properties or use our contact form

Side by side one-bedroom units with laundry hook-ups inside.

Each unit gets a garage space.

living room
Nice detail features inside.

Side access to the garage.

full bathroom
Updated bathroom