There are 134 income properties on the market in the South Bay. This month's price range is from $300,000 for a short sale duplex in Wilmington to $7.7M for a 7 unit building in Hermosa Beach.
Even with a busy sales market, we did pick up about 30 more apartments for sale this month.
96 units are in escrow, which indicates a very active market and about 1.4 months of available supply. In March there were 34 apartment buildings sold. The highest sales price was $5.3M for a 6-plex in northern Manhattan Beach.
Two to four unit building still dominate the available market in the South Bay at over 79% of the local apartments for sale. Quite a few larger buildings came on this month though, as that is a 6% change in ratio from April.
Available income units by city:
- Palos Verdes - 0
- Manhattan Beach - 8
- Hermosa Beach - 12
- Redondo Beach - 3
- Torrance - 7
- Lawndale - 11
- Lomita - 3
- Harbor City - 4
- San Pedro - 42
- Wilmington - 16
- Gardena - 12
- Carson - 6
- El Segundo - 1
- Duplex - 55
- Triplex - 29
- Fourplex - 22
- 5-8 Unit Building - 19
- 9-19 Unit Buildings - 4
- 20+ Units - 3
- Details not provided or non-code compliant "rental" units - 2
Josh Toering, REALTOR at Charlemagne Intl Properties
310-525-9440 or email us
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