Wednesday, June 1, 2016

South Bay Income Property - May 2016

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:
South Bay available income units by type/size:
  • 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
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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