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

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

Beach Cities Residential Income Report--November 2016

The South Bay of Los Angeles is popular with landlords for a variety of reasons; perhaps the top one being real estate prices are high, and that supports an ever-growing pool of renters.  The Beach Cities of Redondo, Hermosa and Manhattan are prime coastal locations for residential income properties. It's a lifestyle many aspire to and although the purchase prices are high there are a surprising number of rentals available near the beach.

Let's begin with a market update for Redondo Beach's residential income properties:

8 Residential income properties are currently for sale in Redondo Beach.

6 Redondo Beach residential income properties are in escrow with accepted offers.

41 Redondo Beach residential income properties sales have been recorded year-to-date.

Hermosa Beach residential income property report:

30 Hermosa Beach residential income properties have sold year-to-date as of November 17, 2016.

6 Hermosa Beach residential income properties are in escrow with accepted offers.

4 Residential income properties are currently for sale in Hermosa Beach.

Manhattan Beach residential income property update:

13 Manhattan Beach residential income properties are currently for sale.

2 Manhattan Beach residential income properties are currently in escrow with accepted offers.

19 Residential income properties have sold year-to-date in Manhattan Beach.

For more information about residential income properties in the Beach Cities of the South Bay of Los Angeles contact Norma@CharlemagneProperties.com or 310.493.8333

Photos taken by Norma Toering while out and about in the gorgeous Beach Cities.

South Bay of L.A. Residential Income Property Report--October 2016

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.

 

Manhattan Beach Income Property - Jan 2014 (2013 Statistics)

Manhattan Beach had a phenomenal year in 2013 for income property sales.

Beach cities summary: The surging housing market of the Beach Cities combined with the limited availability of buildings for sale, made for a competitive buying environment. Multiple offers were the standard and "all cash" deals the trump card.

Manhattan unit sales statistics for 2013:

• Available buildings: 1 Property is for sale at $3,150,000.
• Pending sales: 1 Building is in escrow priced at $999,000.
• Manhattan Beach sales: 23 Buildings sold in 2013 from $960,000 to $3,800,000. The average price was $1,915,000. The average year built was 1953. None of the MB unit transfers in 2013 was a distressed sale.

Manhattan Beach income property building types (2013 Sales):

• Duplex – 57%
• Triplex – 13%
• Fourplex – 9%
• 5-8 Units – 17%
• 8+ Units – 4%

Total unit value sold in Manhattan Beach in 2013: $44,047,000
 Average gross rent multiplier for Hermosa Beach 2013: 22.4
 Hermosa Beach unit cap rate for 2013 at 75% net income: 3.34%

For more information on available Manhattan Beach units for sale, please give me a call or drop us an email. - Josh Toering (310) 525-9440

 Manhattan Beach income property for sale: