Beach Cities and South Bay Income Property

Beach Cities - 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.  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 – Broker/Owner
(310) 493-8333 – Email Norma

– Josh Toering – REALTOR
(310) 525-9440 – Email Josh – Josh’s South Bay Income Property Blog

Los Angeles Income Property Report by City (All Units for Sale):

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):

 

 More income property blogs by Norma & Josh:

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About the Author:

Norma Toering is the broker-owner of Charlemagne Intl Properties a boutique real estate company in Los Angeles. She has been a local South Bay real estate agent since 1992. Norma is the most well known & award winning real estate blogger in Palos Verdes. Forbes magazine consulted Norma on Palos Verdes property values when compiling their Forbes 400 list. Cell: 310-493-8333 Cell: 310.493.8333

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