Redondo Beach Income Property - Update Nov 2014

 
Redondo Beach income units priced around the million dollar to two million dollar point are selling very quickly.  One of the Esplanade frontage units that had been on the market awhile also was snapped up and is in escrow.

• Available Units: 5 Apartments are listed for sale in Redondo Beach priced from $945,000 to $5.5M
• Units in Escrow: 7 Units are in escrow ranging from $999K to $3.5M

October sales included 2 units from $1,135,000 to $1,651,500. Unit breakdown:

• Triplex sales – 2
• Fourplex sales - 1

On pricing, this month’s units sold an average of 2% over the asking prices. The average time on market was just over two weeks.
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:

Manhattan Beach Income Property - Update Nov 2014

 Manhattan Beach income units remain in high demand this month.  On average they are selling within the first few weeks if priced competitively.

• Available Units: 2 Apartments are listed for sale in Manhattan Beach priced from $2M to $7M
• Units in Escrow: 4 Units are in escrow ranging from $1.45M to $3.2M

October sales included 3 units from $1,090,000 to $2,500,000. Unit breakdown:

• Triplex sales – 2
• Fourplex sales - 1

On pricing, this month’s units sold an average of 2% within the asking prices. The average time on market was just over two weeks.

Would you like more information about income units in Manhattan 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

  Manhattan Beach Units for Sale:

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)