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.

Los Angeles - Beach Cities Income Units

Demand is high and competition is keen, but it is possible to purchase multi-family income property in the beach cities of the South Bay area of Los Angeles County: Manhattan, Hermosa and Redondo Beach.

Earlier this year Norma Toering & Team represented the buyer on a fourplex purchase in Redondo Beach. There were seven offers on the property. I knew any offer would need to be clean and at asking price if we hoped to secure a place in the final counter. The seller countered only cash offers with short escrow periods. Fortunately, our buyer's offer was selected and 14 days later the property was his! 

Can you win them all? No, but if you're in the market to purchase residential income property in the South Bay's Beach Cities bring your best offer to the table. As I tell prospective buyers, you may only have one shot at being the new owner, so let you offer tell the seller what you're willing to do to be the next owner. Here's a market update on income property markets in the South Bay Beach Cities of Los Angeles:

• Manhattan Beach: Four income properties are for sale and YTD nine multi-family properties closed escrow.
• Hermosa Beach: 10 Income properties are for sale and YTD 12 have closed escrow in 2013.
• Redondo Beach: Eight income properties are currently for sale and YTD 19 have closed escrow. Redondo Beach has a large share of the income property in the beach cities as reflected by these numbers.

If you're in the market to purchase apartments in Los Angeles County contact Norma Toering and Team for more information. - Norma (310) 493-8333

Manhattan Beach income units for sale:

Hermosa Beach income units for sale:

Redondo Beach income units for sale: