Redondo Beach has been very active for income property buyers in 2013. In representing our investor clients this year, we found multiple offers to be the norm. The premium buildings by location or income potential drew maximum interest.
- Available units: 4 Buildings priced from $800,000 to $1,649,000.
- Pending sales: 6 Buildings priced from $679,000 to $3,300,000.
- Sold in 2013: 34 Buildings sold from $697,125 to $2,606,000. The average price was $1,150,000.
The average year built for units in Redondo was 1958 and it took an average of 51 days to sell. There were no distressed income property sales in Redondo in 2013. 75% of the sales were in North Redondo and 25% in South Redondo.
– Josh Toering
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