South Bay Income Property - April 2016

There are 104 income properties on the market in the South Bay. This month's price range is from $339,000 for a triplex in San Pedro (rented out under-market) to $7.65M for a 20 unit building in northern Redondo Beach.

Quite a few income units accepted offers in the last month which has dipped the inventory a little. The Beach Cities in particular had many apartments go into escrow, so the available inventory in those cities dropped by half or more.

86 units are in escrow, which indicates a very active market and about 1.2 months of available supply. In March there were 27 apartment buildings sold. The highest sales price was $5.15M for a fourplex about a block off the Strand in Manhattan Beach.

Two to four unit building still dominate the available market in the South Bay at over 85% of the local apartments for sale.

Available income units by city:

• Palos Verdes - 0
• Manhattan Beach - 3
• Hermosa Beach - 2
• Redondo Beach - 2
• Torrance - 6
• Lawndale - 8
• Lomita - 6
• Harbor City - 4
• San Pedro - 39
• Wilmington - 14
• Gardena - 12

South Bay available income units by type/size:

• Duplex - 46
• Triplex - 26
• Fourplex - 16
• 5-8 Unit Building - 12
• 9-19 Unit Buildings - 1
• 20+ Units - 1
• Details not provided or non-code compliant "rental" units - 1

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

Just Listed - Duplex in Wilmington CA

Wilmington, CA is a “hot spot” in the South Bay of Los Angeles for income producing properties. Charlemagne Int’l Properties recently listed a side by side duplex on Ravenna Avenue, and this upgraded property will make a savvy addition to most rental income portfolios.

1111 & 1113 Ravenna Ave, Wilmington CA

• $365,000 listing price
• Two one bedroom, one bath units. One unit has remodeled kitchen. Some appliance upgrades.
• Garage with two spaces.
• 1152 sq.ft. building
• 3630 sq.ft. lot
• West Wilmington location is one of the highest demand rental areas of the city.

Each unit is one bedroom with interior laundry area and one space in the two-car garage. One unit’s kitchen was recently remodeled with new cabinetry, granite counters and stainless appliances. The other unit is upgraded with stainless appliances as well.

Income – One unit will be delivered vacant at close of escrow, so you can choose your tenant and rent rate.

• Proforma annual gross rental income – $24000
• 1 Bed/1 Bath rent – $950/month current rent
• 1 Bed/1 Bath rent – $1050/month (proforma based on actual offers from prospective tenants)

Call us soon, this one won’t last!

Josh Toering, Realtor at Charlemagne Intl Properties
ToeringandTeam@gmail.com or use our contact form
310-525-9440

Side by side one-bedroom units with laundry hook-ups inside.

Each unit gets a garage space.

Nice detail features inside.

Side access to the garage.

Updated bathroom