November 2014

Long Beach Income Property – Update Nov 2014

By | November 19th, 2014|Income Property, Long Beach|

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 [...]

South Bay Los Angeles Income Property – Nov 2014

By | November 13th, 2014|Beach Cities, Income Property, Long Beach|

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 [...]

May 2014

Long Beach CA Income Property Report–May 2014

By | May 1st, 2014|Front Page, Income Property, Long Beach, Los Angeles|

Long Beach is home to a bustling port as well as California State University and always maintains a high demand for rental properties.  The downtown area of Long Beach is filled with wonderful restaurant and entertainment choices including The Pike near the waterfront area.  During the 25 years I've lived in the South Bay area of Los Angeles, Long Beach has experienced a rejuvenation with many new condo and loft developments along Ocean Boulevard and Pine Street. Long Beach has one of the highest number of income properties in the South Bay of Los Angeles and is always a ripe [...]

February 2014

Do You Have the Right Stuff to Be a Landlord?

By | February 16th, 2014|An Agent's Life, Buyer Tip, Front Page, Income Property, Long Beach, Los Angeles|

Owning income property is not for everyone.  Sometimes it feels like the odds are stacked against you.  Like most other life endeavors it is a good fit for some people and a nightmare for others.  Sometimes a mismatch occurs due to personality, and other times it happens due to personal circumstances.  For instance, a childless couple began acquiring rental fix-up properties early in their marriage.  It was a shared desire to build real estate wealth, and weekends spent at Home Depot pouring over kitchen sinks and paint chips allowed them to spend time pursuing a mutual interest. Those Home Depot [...]

November 2013

South Bay Income Property – 2013 Summary

By | November 26th, 2013|Beach Cities, Front Page, Income Property, Long Beach, Los Angeles, San Pedro, Torrance|

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 [...]

October 2013

Beach Cities and South Bay Income Property

By | October 19th, 2013|Beach Cities, Featured Posts, Hermosa Beach, Income Property, Long Beach, Manhattan Beach, Palos Verdes Estates, Rancho Palos Verdes, Redondo Beach, Rolling Hills, Rolling Hills Estates, San Pedro, Torrance|

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 [...]

August 2013

Income Property in Los Angeles–South Bay

By | August 6th, 2013|Buyer Tip, Front Page, Hermosa Beach, Income Property, Long Beach, Los Angeles, Manhattan Beach, Palos Verdes, Redondo Beach, San Pedro|

I do a quick search each day for a few clients intent on purchasing residential income property in the South Bay of Los Angeles before interest rates creep much higher.  Obviously, their motivation has grown stronger during the past few weeks as rates inch upward. Residential income is scattered throughout the cities of the South Bay area, but some have more income properties than others. Here's a snapshot of income properties available in the South Bay by city: San Pedro:  36 Residential income properties are currently for sale in San Pedro. Palos Verdes: 0 Residential income properties for sale in Palos Verdes. [...]

May 2012

The Pike in Long Beach is Restaurant Row

By | May 18th, 2012|Front Page, Long Beach, Palos Verdes|

I admit the Palos Verdes Peninsula is a bit short on great places to dine, but my best advise is cross over the bridge.  The Vincent Thomas Bridge that is, and hit The Pike in Long Beach.  The choices are varied and the scene is both 'beachy' and urban.  Whether you select to dine on slow cooking or something  faster, decadent or light, there are many restaurants waiting for the opportunity to delight your taste buds. Earlier this week while celebrating a friend's birthday we considered dining at P F Chang's, checked out a Japanese restaurant but settled on Gladstone's.  The halibut [...]

March 2012

Long Term Outlook for Los Angeles Beaches: Research Paper

By | March 4th, 2012|Beach Cities, Long Beach, Los Angeles, Palos Verdes|

The LA Times reported on a research paper looking in to the long term changes that could occur to our local Los Angeles beaches from rising sea levels.  The paper concluded that sandy beaches may face increased erosion and that many smaller beaches may shrink to the point that tourists no longer use them. The overall economic impact was studied for loss of tourism dollars in a meter rise of sea level and the Times article ranked "winner/loser" areas over the 100 year timescale.  For the Southbay, Manhattan Beach was expected to gain tourist money at an $8 million gain, [...]