From the Beach Cities to the Los Angeles Harbor in San Pedro, here is your residential income October 2016 Report.
There are 132 income units listed for sale in the South Bay. 77 units are in escrow, which indicates a very active market and less than two months of available supply.
Two to four unit building still dominate the available market in the South Bay at approximately 75% of the local apartments for sale.
Available income units by city (non-c0mpliant units are not reflected)
- Palos Verdes – 0 ( A PV condo is listed in this category, but it is not multi-family)
- Manhattan Beach – 13
- Hermosa Beach – 7
- Redondo Beach – 7
- Torrance – 12
- Lawndale – 8
- Lomita – 3
- Harbor City – 2
- San Pedro – 49
- Wilmington – 15
- Gardena – 14
383 South Bay of Los Angeles residential income properties have sold year-to-date in 2016.
The fourth quarter is a smart time to purchase income properties--seasoned listings with a high number of days on the market may have sellers who want to move the property before the end of the year. Sellers, many buyers are out shopping for a property they want to add to their income portfolio before the new year.
For more information about selling or buying residential income in the South Bay of Los Angeles contact Norma@CharlemagneProperties.com or call me at 310.493.8333 to discuss your wants and needs.
