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

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