South Bay Los Angeles Income Property - April 2015

 

 The South Bay has residential investment units in most cities. Units occasionally come on the market in Palos Verdes and units in the Beach Cities tend to get snapped up fairly quickly. Torrance is still very popular with investors.

The LA City rent control rules in San Pedro/Wilmington/Harbor City are a factor in keeping those areas competitive but the lower prices attract many first time investors. Income property of all types remains in high demand along the coast of the South Bay.

Investors are going after the 4+ unit buildings, while owner-occupants and tear-down builders are focused on duplex and triplex listings.

Josh Toering, Charlemagne Intl Properties
(310) 525-9440

In other news: one of our Palos Verdes clients just listed their Pasadena home at 875 South Madison Avenue in Pasadena CA.

Manhattan Beach Income Property Update

 

 Manhattan Beach, California ranks high on any list of "most expensive real estate" and that applies to not only single family properties but also multi-family residences. Rental demands remain high and pricey in this beach city with its close proximity to LAX, the urban amenities of Los Angeles and the Pacific Ocean with its surf and sand are either steps, a walk or a short drive away. 

 21 Manhattan Beach income properties sold during 2014. The sold prices ranged from a low of $1,255,000 for a duplex to $5,400,000 for a duplex on a double lot located in the Sand Section. 2015 Income property update for Manhattan Beach: 2 Manhattan Beach income properties have sold year-to-date. 6 Manhattan Beach multi-family properties are currently in escrow with accepted offers. 6 Manhattan Beach income properties are currently for sale. 

 For more information or help in selling or purchasing Manhattan Beach income property contact Charlemagne Int'l Properties at ToeringandTeam@gmail.com or Josh at 310.525.9440 or Norma at 310.493.8333.

One of our South Bay clients just listed their mansion in Pasadena at 875 S Madison Avenue, Pasadena CA.

 Manhattan Beach Units for Sale:

 

Palos Verdes Income Property

Income properties are rare finds on the Palos Verdes Peninsula, but once in a while one will come on the market. The largest concentration of multi-family income properties is the prestigious Malaga Cove neighborhood in Palos Verdes Estates along Via Campesina A few others are scattered throughout the Palos Verdes area.

It's not surprising there are currently no Palos Verdes income properties listed for sale on the MLS. The most recent sales happened during the summer of 2013 when two properties on Via Campesina sold.

The good news is the neighboring cities of Redondo Beach and Torrance have a much larger supply of income properties for sale.   For more information on income property in any of the cities in the South Bay of Los Angeles contact ToeringandTeam@gmail.com.

 Income Units for Sale in Palos Verdes CA:

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:

Long Beach Income Property - Update Nov 2014

Long Beach had a very active month in apartment sales.  Over 50 units completed escrow and transferred to new owners.

• Available Units: 168 Apartments are listed for sale in Long Beach priced from $249,000 to $65M
• Units in Escrow: 80 Units are in escrow ranging from $239,000 to $3.75M

October sales included 53 units from $295,000 to $4.17M. Unit breakdown:

• Duplex sales – 21
• Triplex sales - 6
• Fourplex sales -  8
• 5 to 8 unit building sales - 9
• 9+ unit building sales - 9

On pricing, this month’s units sold an average of 3% under the asking prices. The average time on market was 74 days.

Would you like more information about income units in Long 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

One of our South Bay clients just listed their mansion in Pasadena at 875 S Madison Avenue, Pasadena CA.

Long Beach Units for Sale:

Lomita Income Property - Update Nov 2014

Lomita income units have slowed their sales pace going into the USA holiday season.  The current numbers show 4 months of supply in apartments placing this market in a "neutral" section between buyers or sellers.  The units for sale as of today are all duplexes or fourplexes, with one mixed use building also listed.

• Available Units: 8 Apartments are listed for sale in Lomita priced from $499,000 to $1.5M
• Units in Escrow:2 Units are in escrow ranging from $619,900 to $742,500

October sales included 3 units from $620,000 to $890,000. Unit breakdown:

• Duplex sales – 2
• Triplex sales - 1

On pricing, this month’s units sold an average of 1% under the asking prices. The average time on market was 41 days.

Would you like more information about income units in Lomita? 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


Lomita Units for Sale:

South Bay Los Angeles Income Property - Nov 2014

The South Bay has residential investment units in most cities. Units occasionally come on the market in Palos Verdes and units in the Beach Cities tend to get snapped up fairly quickly. Torrance is still very popular with investors. The LA City rent control rules in San Pedro/Wilmington/Harbor City are a factor in keeping those areas competitive but the lower prices attract many first time investors.

Income property of all types remains in high demand along the coast of the South Bay. Investors are going after the 4+ unit buildings, while owner-occupants and tear-down builders are focused on duplex and triplex listings.

South Bay LA Income Units for Sale (Priced under $800,000):

South Bay LA Income Units for Sale (Priced over $800,000):

South Bay Income Properties that have sold recently: