Hermosa Beach Income Property - Update Nov 2014

Hermosa Beach income units are still in high demand with all available and sold units going over one million dollars.

• Available Units: 4 Apartments are listed for sale in Hermosa priced from $1.349M to $4.399M
• Units in Escrow: 6 Units are in escrow ranging from $1.4M to $3.599M

October sales includes 1 units at $1,550,000. Unit breakdown:

• Duplex sales – 1

On pricing, this month’s units sold an average of 1% within the asking prices. The average time on market was 1.5 months.

Would you like more information about income units in Hermosa? 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

 Hermosa Beach Units for Sale:

Torrance Income Unit Sales - Update Nov 2014

 

Torrance has many duplex units on the market this month with over 80% of the "for sale" apartments being 2-unit or 3-unit buildings. All eleven of the available units this month are standard sales.

• Available Units: 11 Apartments are listed for sale in Torrance priced from $759K to $3.295M
• Units in Escrow: 7 Units are in escrow ranging from $695K to $1.25M

October sales includes 2 units from $995,000 to $3,650,000. Unit breakdown:

• Duplex sales – 0
• Triplex sales – 0
• Fourplex sales – 1
• Sixteen unit building – 1

On pricing, this month’s units sold an average of 3% above the asking prices. The average time on market was 3 months.

 Would you like more information about income units in Torrance? 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

  Torrance Units for Sale:

Wilmington Income Unit Sales - Update Nov 2014

 

Foreclosures and short sales have dramatically dropped off for income property in Wilmington. All sixteen of the available units this month are standard sales or probate listings. A couple of the properties in escrow were distressed, but it is a big change to see so few of the bank-owned properties on the market.

• Available Units: 16 Apartments are listed for sale in Wilmington priced from $299K to $1.2M
• Units in Escrow: 7 Units are in escrow ranging from $285K to $1.6M

October sales includes 5 units from $447,500 to $1,350,000. Unit breakdown:

• Duplex sales – 2
• Triplex sales – 0
• Fourplex sales – 2
• Ten unit building – 1

On pricing, this month’s units sold within 3% of the asking prices and were split pretty evenly between properties that went slightly under asking price and a few that were bid up. The average time on market was 17 days.

Would you like more information about income units in Wilmington? Find out the current market value of apartments you own? Toering & Team has helped many investors with both buying and selling investment properties around Wilmington and the entire South Bay of Los Angeles. Let us know how we can help!

- Josh Toering (310) 525-9440 or email ToeringandTeam@gmail.com

Wilmington Units for Sale:

San Pedro Income Property - Nov 2014

The coastal town of San Pedro had a great month for income unit sales. The overall indicator shows it has picked up in popularity with investors.

• Available Units: 44 Apartments are listed for sale in San Pedro priced from $350K to $5.995M
• Units in Escrow: 21 Units are in escrow ranging from $289K to $2.09M

October sales includes 10 units from $370,000 to $825,000. Unit breakdown:

• Duplex sales - 4
• Triplex sales - 2
• Fourplex sales - 3
• Six unit building sold - 1

On pricing, this month's units sold within an average 1% of the asking prices and were split pretty evenly between properties that went slightly under asking price and a few that were bid up. The average time on market was 78 days.

Would you like more information about income units in San Pedro?  Find out the current market value of apartments you own?   Toering & Team has helped many investors with both buying and selling investment properties in San Pedro and the entire South Bay of Los Angeles.

Let us know how we can help!

- Josh Toering (310) 525-9440 or email ToeringandTeam@gmail.com

 San Pedro Units for Sale:

Income Property Future Looking Bright

Renters outnumber owners in Los Angeles.  According to a housing forecast I glanced at last week, Los Angeles area rents are projected to increase next year by an average of 8%, or if under rent control, whatever the law will allow.  Millennials are postponing home ownership and boomers are ditching the big single family home in favor of smaller urban digs.  The future of income property in greater Los Angeles looks bright.



The income property market in the South Bay of Los Angeles remains one of the hottest segments of the local real estate market.  The heat turned up in 2012 and the sizzle continues with only slight cooling today. Charlemagne Int'l Properties represented clients on properties with over 20 offers, and five or six was the norm.  There is still keen competition for prime investment properties, but the market no longer resembles a shark feeding frenzy thanks to the uptick in prices over the past two year.  However, there are still good investment properties available throughout the Los Angeles area.


Does income property make sense for your investment portfolio?  It's not for everyone, but for those who are suited to either managing property or hiring a management company it can be a smart investment, especially if the strategy is to buy and hold.  Income property in the coastal areas of Southern California has a steady supply of renters who want to enjoy the beach lifestyle but cannot afford to purchase in the pricey coastal towns.


Whether you're interested in purchasing a duplex or a large apartment complex it is important you familiarize yourself with what being a landlord entails prior to taking the plunge.  Los Angeles City falls under rent control with additional layers of rules and regulations for landlords.


For more information of income property in the South Bay of Los Angeles contact Charlemagne Int'l Properties at 310.493.8333 or email us at ToeringandTeam@ gmail.com.

- Norma Toering, Broker-Owner of Charlemagne Int'l Properties
(310) 493-8333

South Bay Income Property for Sale: (Under $800,000)

South Bay Income Property for Sale: (Over $800,000)

Income Property--South Bay of LA

Years ago one of my clients said, "I'm sure the day will come when I don't want to work 60 hours a week."

I nodded and wondered where he was going with the conversation.

He continued, "I'm thinking about purchasing income property.  Is that something you can help me with?"

"Yes"  was my short answer.  I went on to say we have helped several residential clients purchase income properties in the South Bay of Los Angeles, and have listed income properties as well.

When purchasing income properties in Los Angeles, or units as they are often referred to, it is important to know several communities fall under Los Angeles Rent Control.  Rent control adds another layer, actually several layers, of additional rules and regulations landlords must adhere to with properties subject to rent control.  Properties built prior to 1979 fall under rent control.

The competition is keen for income properties in the South Bay, especially in the beach cities of Manhattan, Hermosa and Redondo.  The demand for rental units is always high in those coastal areas and of course the location is prime as well.  Those two factors combine to keep the demand high and the supply low.  This translates to higher prices and more competition often in the form of multiple offers for a desirable property.

If you would like a little guidance in locating and purchasing income property in the South Bay of Los Angeles Charlemagne Int'l Properties is here to offer our expertise and guidance.

- Norma (310) 493-8333

South Bay Income Property for Sale: (Under $800,000)

South Bay Income Property for Sale: (Over $800,000)

Where Should I Invest $1,000,000?

That's the question I'm going to work on this weekend. I hope to be able to provide several viable options for several clients who are ready to invest in real estate.

The answer is easy if the prospective buyer is a first time home buyer, as owning your own home provides several benefits in addition to providing shelter. Once the primary residence is in place, and perhaps even the move-up residence, it becomes a matter of personal choice as to what real estate vehicle best fits your real estate portfolio model. Vacation home or income property are always options.

Although throughout history a great many people made their fortune in real estate, it is not without its risks. Ask anyone who was trapped "underwater" during the Great Recession and you will hear one horror housing story after another. With mortgages larger than the value of their property, many walked away, did a short sale or were foreclosed upon. Many learned the hard and costly lesson that real estate prices do not always go up. It was a difficult time in the world of real estate as well as the overall economy.

Real estate is a market, and like the stock market, today's prices do not reflect tomorrow's value. The secret sauce is location, and there is nothing new about that. However, it is wise to investigate why one location is superior to another even though they may be within the same general geographic neighborhood. The sub-categories of location are view ( buy one if you have the option), proximity to amenities such as shopping and dining, schools, freeways, public transportation (close enough to keep commutes easy, but far enough away to avoid noise and pollution), and perhaps the most difficult to project--future growth and value potential.

Every savvy investor would like to get in on the ground floor of the next trendy neighborhood, the deal of the decade and so on. The key to identifying real estate opportunities is to first know what's happening in the communities of interest and watch local trends. One of the driving forces of today's rental market is more young people are delaying the purchase of their first home. This translates to a higher demand for rental units in urban and beach locations as this is where young professionals want to live.

On the other hand, suburban areas with top-rated schools will attract renters who do not purchase due to affordability or other personal factors, but still want their children to enjoy the benefits of the best education they can provide. I've leased many Palos Verdes homes for this exact reason.

Income producing property in a highly sought-after neighborhood may not be offered at a bargain price, especially if in a coastal location, but chances are there will be a growing demand for such properties. This translates to increase in value (equity building) and a low vacancy rate--both positive factors from an investor's point of view.

If you're in the market to purchase income property, or a second home, we would happy to discuss your investment goals and help you meet them.

- Norma Toering - Broker/Owner of Charlemagne Intl Properties
(310) 493-8333