Beach Cities of Los Angeles Residential Income Report

Let's begin with 2017 residential income listings and sales in Redondo Beach.
Active Listings: There are currently nine residential income properties for sale in Redondo Beach ranging in price from $1,595,000 to $7,200,000.
Pending Sales:  Nine Redondo Beach income properties are in escrow with accepted offers.
2017 Sales Y-T-D:  44 Redondo Beach residential income property sales were recorded as of 10/26/2017 per MLS records.

Hermosa Beach Residential Income Report for 2017:
Active Listings:  There are seven Hermosa Beach residential income properties listed for sale ranging in price from $1,659,000 to $5,195,000.
Pending Sales:  Two Hermosa Beach residential income properties are in escrow with accepted offers.
2017 Sales Y-T-D:  19 Hermosa Beach residential income property sales were recorded as of 10/26/2017 per MLS records.

Manhattan Beach Residential Income Report for 2017:
Active Listings:  Seven Manhattan Beach residential income properties are for sale ranging in price from $2,099,000 to $7,895,000.
Pending Sales: Four Manhattan Beach residential income properties are in escrow with accepted offers.
2017 Sales Y-T-D:  As of 10/26/2017 24 Manhattan Beach residential income properties have sold per MLS records.

If you're considering investing in residential income property, the Beach Cities offer an excellent location with a ready supply of renters who want to live the coastal beach lifestyle.

 Norma Toering Broker/Owner 310.493.8333

All in a Real Estate Day

This article was written in 2013, but it encompasses the broad range of properties and locations Charlemagne International Properties covers as we go about our daily real estate lives.

Norma Toering & Team specializes in luxury homes, vacation homes, and income property.  Yesterday was a banner day for our business specialties.  We had a strong showing on our luxury home listing in Hermosa Beach, our offer on an eight-unit apartment building was accepted (after 30 long days of negotiations, rejection and finally resurrection–I’m tenacious), and we wrote an offer for a second home in a private beach community.  I won’t mention the sleep I did not get, as I spent my evening into the night hours negotiating the beach house offer as well as an offer received on vacant land.  Ahh yes, it does remind me of the pre-recession housing market, and it’s good to have it back.

My real estate niche specialties evolved over time.  Gradually, more of my clients from years past moved up to larger homes and I became knowledgeable about the luxury home market in Palos Verdes and the beach cities of Manhattan, Hermosa and Redondo. A few years later many of the same clients decided they wanted a weekend or summer place either in the desert, the mountains or most popular, the beach.  Their expanding real estate collection often included the addition of income-producing properties to their investment portfolio.

My clients are often the catalyst for my expanding real estate horizons and expertise.  My knowledge about rent control, cap rate, internal rate of return and so much more was client driven to help them make savvy income property investments.  I attended a three-day luxury home seminar to be up to date on marketing luxury homes internationally.  When a client wanted to purchase a desert property I spent a weekend attending open houses in 110-degree weather–call me crazy, but after studying the comparable sales and listings online, viewing photos and locating them on Google Maps, I still wanted to see the homes with my eyes.

I owe my clients a big thank you for helping me expand my real estate knowledge and business.  I’m not sure where this business will take me next, but I’m an adventurer, so I’m eagerly anticipating the next new avenue I’ll venture down in real estate land.

Since writing this article, I’ve sold luxury property in Pasadena, CA, Palos Verdes Estates and Rancho Palos Verdes. I’ve sold fixer properties, beach homes, income properties, oceanfront condos, and the list goes on. I have no idea where the day will take me as I continue the adventures of real estate and life.

Photographs of a few of my recent luxury sales

Norma (310) 493-8333

South Bay Los Angeles Income Property

 

The South Bay of Los Angeles has residential investment units in most cities. Units occasionally come on the market in Palos Verdes, and units in the Beach Cities tend to get snapped up fairly quickly. Torrance is still very popular with investors.

The LA City rent control rules in San Pedro/Wilmington/Harbor City are a factor in keeping those areas competitive and as a result, the lower prices attract many first-time investors.

Income property of all types remains in high demand along the coast of the South Bay. Investors are going after the 4+ unit buildings, while owner-occupants and tear-down builders are focused on duplex and triplex listings.

For more information on income property in the South Bay of Los Angeles. - Norma Toering 310-493-8333 Broker Owner at Charlemagne Intl Properties

Coastal Income Units in the South Bay of Los Angeles

I have a client who is in the market to invest approximately $5MM in real estate. He is selling a commercial building and wants to roll the proceeds over into another property. Simple enough.

The dilemma he faces is where to make a long term investment that will require minimum management but provide a decent return on investment. Retail seems like a high-risk venture with the disruption online shopping is creating in the industry. Will gas stations become a thing of the past as the 21st-century advances? As the economic climate changes so do an investors' goals and guidelines.

One thing is certain; people will always require a roof over their head. Housing is here to stay, and the price continues to rise both for purchases and rentals. I recently read over 50 percent of Los Angeles housing units are rentals. Homeownership is simply out of reach for many.

While it's true many people live in rental properties because they cannot afford to purchase, some renters opt to live in a luxury rental for the carefree lifestyle as well as the mobility of a lease over needing to sell a property when it's time to move on to a new job or life adventure.


The growing number of renters ensures the rental market will continue to support investors who choose to invest in multi-family luxury properties in the South Bay of Los Angeles.



Questions? 310.493.8333

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:

• 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

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