Lomita Income Property - Update Nov 2014

Lomita income units have slowed their sales pace going into the USA holiday season.  The current numbers show 4 months of supply in apartments placing this market in a "neutral" section between buyers or sellers.  The units for sale as of today are all duplexes or fourplexes, with one mixed use building also listed.

• Available Units: 8 Apartments are listed for sale in Lomita priced from $499,000 to $1.5M
• Units in Escrow:2 Units are in escrow ranging from $619,900 to $742,500

October sales included 3 units from $620,000 to $890,000. Unit breakdown:

• Duplex sales – 2
• Triplex sales - 1

On pricing, this month’s units sold an average of 1% under the asking prices. The average time on market was 41 days.

Would you like more information about income units in Lomita? Find out the current market value of apartments you own? Toering & Team has helped many investors with both buying and selling investment properties around the entire South Bay of Los Angeles. Let us know how we can help!

- Josh Toering (310) 525-9440 or email ToeringandTeam@gmail.com


Lomita Units for Sale:

Lomita Income Property - Dec 2013

Lomita rental units statistics wrapping up 2013:

• Available buildings: 8 Properties are for sale from $580,000 to $1,150,000.
• Pending sales: 4 Buildings are in escrow priced from $549,000 to $999,000.
• Lomita sales: 18 Buildings sold in 2013 from $350,000 to $2,725,000.  The average price was $708,000.  The average year built was 1945.

Lomita income property building types (2013 Sales):

• Duplex - 61%
• Triplex - 22%
• Fourplex - 6%
• 5-8 Units - 6%
• 8+ Units - 5%

Total unit value sold in Lomita in 2013: $12,750,000
Average gross rent multiplier for Lomita 2013: 13.7
Lomita unit cap rate for 2013 at 75% net income: 5.48%

For more information on available Lomita units for sale, please give me a call or drop us an email.

- Josh Toering
(310) 525-9440

Lomita income property for sale: