San Pedro Investment Property

The Vincent Thomas bridge in San Pedro, California.

Several of our (Norma Toering & Team) real estate clients are building real estate investment portfolios and requested our help in assembling properties that not only have positive cash flow but also a strong potential for future appreciation. My business partner and son, Josh, really enjoys this market niche. We also enlist the assistance of our MBA in finance, with concentration in real estate, consultant who happens to be another son.

Nothing like growing your own real estate experts! We pride ourselves on completing a thorough due diligence during the investigation period. In the past we've uncovered unknown easements that impact future value of property due to restrictions, missed termite damage, illegal units and additions and the list goes on. Our goal is to help our clients make an informed and wise investment with no major surprises discoveries after the close of escrow.

The first thing to know about San Pedro income property is if a property was built prior to 1979 it is subject to Los Angeles Rent Control. Newer buildings do not fall under the rent control guidelines. Rent control limits rental increases and states guidelines that must be adhered to by every landlord. It adds another layer to being a landlord but with annual rent increases as allowed by law, it is possible to keep a property's rents at market rate. 

San Pedro currently has 38 residential income properties for sale ranging from 2 to 21 units--something for every budget. This coastal town is home to Los Angeles Harbor, cruise ship port, Point Fermin Lighthouse and the hills provide a wealth of dazzling views. With its waterfront location and a strong rental market it is worth checking out if you're in the market to purchase San Pedro income property.

For more information on San Pedro income property contact Norma Toering at 310.493.8333 or Josh Toering at 310.525.9440.

San Pedro income property for sale:

South Bay Income Property - 2013 Summary

South Bay Income Property - 2013 Summary

Income property for sale:

• The Beach Cities - 11 Available units priced from $800K to $3M
• Torrance/Lomita - 18 Available units priced from $600K to $1.2M
• Harbor Area - 46 Available units priced from $250K to $4.8M
• Long Beach - 134 Available units priced from $300K to $17.5M

Income property sales:

• The Beach Cities - 72 Sales year to date (Average sale price of $1.4M)
• Torrance/Lomita - 56 Sales year to date (Average sale price of $800K)
• Harbor Area - 141 Sales year to date (Average sale price of $500K)
• Long Beach - 352 Sales year to date (Average sale price of $650K)

If you would like more information on available income property, please contact us or give me a call.

 - Josh Toering - REMAX Estate Properties (310) 525-9440

Torrance Income Property for Sale

Torrance - Sunset above Torrance Beach.

Torrance has had an active rental units market in 2013.  Currently:

• 6 Income buildings are on the market priced from $675,00 to $1,349,000.
• 3 Buildings are in escrow.
• 31 Rental units have sold this year ranging from $400,000 to $2.3M.

The average time for units to sell has been 66 days.  The average sale price is $941,000, while the median is $825,000.  About 80% of the buildings were in the 2 to 4 unit configuration, with the remaining buildings being over 5 units.

If you would like more information on available rental properties in Torrance or other areas of Los Angeles, please give me a call.

- Josh Toering, REMAX Estate Properties

(310) 525-9440

Torrance income property for sale:

Hermosa Beach - Income Property Snapshot

Hermosa Beach is a fabulous little coastal city sandwiched between trendy Manhattan Beach and the much larger beach city of Redondo Beach.  However, when it comes to living the California beach lifestyle, Hermosa Beach has no trouble rising to the top of the list.

Not only are home prices on the rise in Hermosa Beach income properties are highly prized assets as there is always an ample supply of tenants wishing to live at or near the beach.  When you're the landlord, a waiting list of prospective tenants is a very good thing indeed.

Hermosa Beach income property market update for 2013 YTD:

• 10 Hermosa Beach income properties are currently for sale ranging from 2 to 4 unites.
• 2 Hermosa Beach income properties are pending sales ranging from 3 to 8 units.
• 19 Hermosa Beach income properties close escrow YTD with 18 of them being duplexes and one sale of a unit at Beach House Hotel with rents shared with the hotel.

For more information on Hermosa Beach income property contact Norma Toering and Team at 310.493.8333 or Josh Toering at 310.525.9440.  We help you achieve your income property real estate goals.

Hermosa Beach income property and rental units for sale:

Manhattan Beach Income Property Snapshot

Norma Toering & Team is seeking income property in the beach cities of Manhattan, Hermosa and Redondo Beach.  Several of our long-term clients are currently enlisting our assistance in helping them build strong real estate investment portfolios.  Consequently, I check daily for additions and changes to the current available inventory.

In addition to our market knowledge, we enlist the help of a Columbia MBA finance consultant to analyze the numbers and future potential of properties of interest.  We wish to give our clients the best service and information available whether they are purchasing a duplex or a large apartment complex.
The Manhattan Beach income property market is very competitive as this coastal city has some of the most expensive real estate in Los Angeles.  The market improvements of 2013 sent prices skyward making it difficult to find properties that make sense on paper and requiring the need to factor in future development value.

Here is what transpired in the income property market in Manhattan Beach YTD 2013:

• 3 Active Manhattan Beach income properties for sale from 2 to 10 units.
• 3 Pending sales from 2 to 5 units.
• 20 Manhattan Beach income properties closed escrow YTD ranging from 2 to 10 units.

From more information about income property in Manhattan Beach contact Norma Toering & Team at 310.493.8333 or Josh Toering at 310.525.9440.

 Manhattan Beach income property and rental units for sale:

Beach Cities and South Bay Income Property

A prospective multifamily income buyer recently asked me, "Has the spring feeding frenzy in the income property market cooled, or will my offer still be one of many?" The truthful answer is it depends on the location and condition of the property. Premium properties in choice locations will still receive multiple offers. On the other hand, fixer properties in less desirable areas will likely present rehab opportunities so they, too, will likely draw multiple offers.

In today's market, it is hard to find a wallflower income property. Last week Norma Toering & Team submitted an offer on Hermosa Beach multifamily units just blocks from the Pacific Ocean. Yes, there were eight offers. Last week another client inquired about fixer units in Wilmington. They opted not to be offer number 11. These number reflect the current activity in the income property market. 

We are not seeing the 20+ offers common during the first half of 2013, but the income market remains strong as the end of the year approaches. Check out the city by city snapshot of sales so far this year.

Closed South Bay income property sales by city for 2013 YTD:

•  Palos Verdes: 2
•  Manhattan Beach: 18 
•  Hermosa Beach: 18
•  Redondo Beach: 28 
•  Torrance: 58 
•  Gardena: 50 
•  El Segundo: 7 
•  Lomita: 15 
•  Harbor City: 7 
•  Wilmington: 36 
•  San Pedro: 96 
•  Long Beach: 396

For more information about income property in any of the above cities contact Norma Toering & Team. We have clients interested acquiring income properties ranging from fixers at the low-end, to clients seeking properties at the higher end of the price spectrum. We will help you find multifamily units that match your investment goals.

 - Norma Toering and Team - REMAX Estate Properties (310) 493-8333

Income Property for Sale in the South Bay of Los Angeles (priced over $800K):

Income Property for Sale in the South Bay of Los Angeles (priced under $800K):

 

Expand Your Real Estate Portfolio

Several of my long-term clients are in an expansion mode.  They have their primary home and are ready to expand their real estate portfolio to include income property or perhaps a second home.

Rental Property Investments in Los Angeles South Bay

Although Norma Toering & Team possess extensive expertise in the local residential field, we also have a myriad of experience in selling income property in the South Bay of Los Angeles.  In addition, we have an expert consultant with commercial real estate and Columbia MBA credentials on retainer.  With his assistance, we are currently searching for a boutique hotel opportunity for a client.

If you’re in the market to purchase multifamily units in the South Bay, Norma Toering & Team welcome the opportunity to discuss your investment goals and help you chart a path to accomplishment.  We currently have a client with a 10-year goal of purchasing two to three properties per year.  It is our goal to help him build a portfolio of real estate holdings with current cash flow and future appreciation potential.

- Norma & Josh
(310) 493-8333