I often recall the advice a speaker at a real estate investment seminar gave to the attendees. "Make sure you can be there in two hours, even if you are using a management company for day-to-day decisions, and don't purchase in areas where you feel you should carry a gun when you check on your investment." Still sound advice.
Proximity is especially important for small investors who manage their own portfolio. Maintenance issues may develop at any time without regard for the time of day or night. Logistics are important whether you're simply cruising by for a visual check on your way home from work or meeting a repairman. Location is always a key factor when considering purchasing a property.
Income properties can be found in almost every city in the South Bay of Los Angeles. Buying close to home may simplify your duties as a landlord.
Here's an update on income property sales in some of the areas in the South Bay of Los Angeles as of May 19, 2015:
El Segundo: Four residential income sales recorded per MLS as of 5/19/2015. There are currently no income properties for sale in El Segundo
Gardena: 14 Residential income property sales sold YTD and 19 Gardena income properties are currently for sale.
Lawndale: 21 Residential income sales recorded YTD and 12 income properties are listed for sale.
Torrance: 21 sales YTD and 26 active listings are the stats for residential income property in Torrance.
Lomita: YTD Lomita reports nine residential income sales and six residential income properties for sale.
Harbor City: Three sales YTD and eight residential income properties are currently for sale in Harbor City.
San Pedro: With 44 residential income sales recorded YTD and 50 income producing properties for sale San Pedro tops the list of city with both most sales and listings.
Manhattan Beach: Per MLS records nine Manhattan Beach residential income properties sold YTD and there are five income properties currently for sale.
Hermosa Beach: 10 Residential income property sales closed escrow as of May 19, 2015. Four residential income properties in Hermosa Beach are currently for sale.
Redondo Beach: With 17 sales YTD and only five properties currently for sale Redondo continues to be a "hot spot" for investors.
Palos Verdes: Although not known for having a large inventory of residential income properties, one sale was recorded in Palos Verdes Estates. There are currently no residential income properties listed for sale.
For more information regarding selling or buying residential income property in the South Bay of Los Angeles contact Charlemagne Int'l Properties at ToeringandTeam@gmail.com or give us a call at 310.525.9440 for Josh or 310.493.8333 for Norma.
South Bay Income Property for Sale: (Under $800,000)
South Bay Income Property for Sale: (Over $800,000)
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Based on information from the Association of REALTORS®/Multiple Listing as of the initial date of this article/blog publication and /or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.