Buying Income Property in Redondo Beach

The Beach Cities of Los Angeles continues to be one of the hottest markets for income units in the South Bay area. The demand for 2-4 unit buildings has soared, with developers grabbing up the smaller buildings to replace them with quick profit townhome build outs. Investors are chasing the triplex and fourplex market due to attractive financing. But even the larger complexes are selling too, with sales going over $5 million on a regular basis.

As units are replaced by new townhomes, the income property inventory isn't being replaced. Developers and unit owners just aren't putting in more apartments. This is partially due to the current zoning restrictions which encourage less density. Developers also see much better and quicker returns in selling off brand new townhomes instead of collecting rents.

Investors saw that even in the market downturn of 2008-2010, the Beach Cities and Redondo Beach property values did much better than other areas in California. This coastal stability is a very attractive feature of Redondo and the South Bay in general. There are always renters looking to live by the ocean and have that "Bay Watch" lifestyle they've dreamed about.

Would you like more information about income units in Redondo Beach? 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

 Redondo Beach Units for Sale:

Redondo Beach Income Property

Redondo Beach, California income property is a desirable commodity and the supply is always limited. When a highly desirable property hits the market the one thing an investor can count on is there will be competition vying for ownership, and offers to purchase will be plentiful, and often over asking price. Last year saw an enormous surge in both properties available for sale and number of offers submitted. One agent's response to my question as to whether he had other offers was, "More than twenty." Our experience this year shows we can expect more of the same. This month we had one of ten offers on a Redondo Beach income property in a prime ocean close location.

Currently there are seven Redondo Beach income properties for sale ranging in size from two to 15 units. The price range is from $999,000 for a 2 unit property, up to $5,395,000 for a 15 unit complex close to the ocean. There are currently 12 Redondo Beach multifamily properties in escrow with accepted offers. Seven Redondo Beach income properties have sold year-to-date.

Redondo Beach is one of the three Beach Cities in the South Bay area of greater Los Angeles. Its prime coastal location makes it a popular rental area and consequently, a sought-after location for income property buyers. With its sandy beaches and coastal breezes Redondo Beach is a prime Southern California location, and savvy investors are always anxious to add a piece of Redondo Beach real estate to their investment portfolios.

Taking a quick look back at the history of Redondo Beach income property sales, per the Multiple Listing Service, since 1995 1207 income properties sales with a minimum of two units were recorded. The highest price paid was $8,100,000 in 2007 for a 32 unit complex located on the Esplanade with unobstructed ocean view.

For more information on Redondo Beach income property contact Norma or Josh at Charlemagne International Properties and we will add your name to our list of income property sellers and buyers in the South Bay, and provide you with a list of hand-selected properties matching your investment criteria.

- Norma Toering, Broker/Owner Charlemagne Int'l Properties
(301) 493-8333 - Email Norma

Redondo Beach Units for Sale:

Redondo Beach Income Property - Dec 2013

Redondo Beach has been very active for income property buyers in 2013. In representing our investor clients this year, we found multiple offers to be the norm. The premium buildings by location or income potential drew maximum interest.

• Available units: 4 Buildings priced from $800,000 to $1,649,000.
• Pending sales: 6 Buildings priced from $679,000 to $3,300,000.
• Sold in 2013: 34 Buildings sold from $697,125 to $2,606,000. The average price was $1,150,000.

The average year built for units in Redondo was 1958 and it took an average of 51 days to sell. There were no distressed income property sales in Redondo in 2013. 75% of the sales were in North Redondo an 25% in South Redondo.

- Josh Toering (310) 525-9440

Redondo Beach units for sale: