Monthly Archives: March 2014

Newport Beach in Orange County California—- Great Fourplex on MLS now!

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Currently there is an amazing fourplex multifamily income property opportunity listed on the MLS by: CJ VanderMeulen, California Professional R.E., 909-337-6111, source: Listhub.

This fourplex is located on Balboa Blvd. perfectly situated between the Newport Bay,  the Beach, Balboa Pier, Balboa Fun Zone and Newport Beach Pier.  According to the MLS, each of the 4 apartments are 1 bedroom and 1 bathroom.

Click this link below to see a short video MultiFamilyOWL shot from the median divide on Balboa Blvd.

Click this link to see the Fourplex !       Newport Beach Multi Family Fourplex Income Property

 

And as always, remember to utilize MultiFamilyOWL’s advanced multifamily income property search functionality to locate your next duplex, triplex, fourplex investment property in Orange County and Los Angeles County California!

(All property details retrieved from multiple public real estate  websites, Information is believed to be accurate, but shall not be relied upon without verification. Accuracy of square footage, lot size and other information is not guaranteed)

Ocean Front Duplex on the Boardwalk Newport Beach, California.

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Click the link below to watch a super short video regarding the duplex in Newport Beach California that MultiFamilyOWL highlighted last week in our blog post.  Soon after announcing the price reduction on MultiFamilyOWL, multiple offers were received!  The VIEWS are AWESOME!!!  RIGHT ON THE SAND!

Click this link below to see this awesome beach FRONT Duplex!      Newport Beach Duplex For Sale Multi Family Income Property

To search other awesome multifamily duplex, triplex, fourplex income properties in Newport Beach Orange County California make www.MultiFamilyOWL.com your #1 website !

San Pedro, California….. NON-Rent Control multifamily options.

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San Pedro currently has four multifamily income properties available on the MLS built after the year 1978 which excludes them from the city of Los Angeles rent control regulations.  These four available multifamily properties consist of two triplexes, one fourplex and one large eight unit commercial apartment building which also offers retail space.  Currently there are no duplex multifamily properties available in San Pedro built after the year 1978.

To view all available multi-family income property duplex, triplex, fourplex and larger commercial apartment buildings in San Pedro, California click this link.  Remember to use MultiFamilyOWL’s advanced search functionality to search by Rent Control, Year Built or Operating Income.

Hawthorne & Inglewood. No Rent Control.

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Hawthorne and Inglewood are two cities located in Los Angeles County that do not have Rent Control.  Inglewood, California currently has a great inventory of multifamily duplex, triplex and fourplex income properties for sale.  With Magic Johnson’s interest and investment in the City of Inglewood over the past decade, the city has prospered tremendously.  The influx of REO properties has all but dried up and new commercial and residential development is popping up throughout the city again.

Hawthorne, California also currently has a nice inventory of multifamily duplex, triplex and fourplex income properties listed for sale.  The City of Hawthorne is working diligently to attract new business and improve the existing businesses through the Commercial Rehabilitation Program.  Many existing businesses have already received funding for improvements and many more are in the process of applying.

Hawthorne and Inglewood are two cities in Los Angeles County that multifamily income property investors must take a closer look at.  Both have phenomenal central locations, supportive pro-business city officials and extremely strong tenant populations with reasonable Gross Rent Multiplier and CAP Rate multifamily income property valuations.

—Distress Sales— North Hollywood & West Hollywood

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North Hollywood and West Hollywood offer a huge stable tenant population, reasonable valuations and always an abundance of duplex, triplex and fourplex multifamily income property options for sale.

West Hollywood currently has over fifteen investment rental properties for sale, ranging from small duplexes starting at just over one million to large commercial apartment rental buildings listed for sale over five million.  However the purpose of this post is to highlight the importance of staying on top of Short Sale and Notice of Default (NOD) sales in neighborhoods you are invested in or looking to invest in.  Currently in North Hollywood there is a Short Sale duplex on Curson Avenue in escrow which was last listed at $582,000.  There is also a fourplex NOD Short Sale property in escrow last listed at $979,000 on Huntley Drive.  It might be a great idea to keep an eye on these two income properties, as Short Sales are notorious for being bought up by back-up buyers after the first escrow fails to perform.

North Hollywood currently has over thirty multifamily income properties listed for sale.  There is currently a huge inventory of great income producing duplex, triplex, fourplex properties, with several nice duplexes having asking list prices under $500,000.  There are currently four NOD and/or Short Sale multifamily properties last listed under $450,000 in escrow.  Using MultiFamilyOwl’s advanced search functions be sure to keep an eye on the status of these properties.

Garden Grove & Santa Ana Duplex, Triplex and Fourplex multifamily property options abound.

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Garden Grove and Santa Ana California are located directly adjacent to Huntington Beach, situated between the 405 freeway and the 5 freeway with interstate 22 dividing the two.  As new home development moves east and tenants run out of options at the beach, Santa Ana and Garden Grove scoops up more high paying tenants and appreciation.  Click these links for  MultiFamilyOWL’s full analysis of Garden Grove, California or Santa Ana, California.

Per the MLS, the least expensive duplex income properties available in Santa Ana are both located on Chestnut Avenue and priced at $325,000 and $350,000 respectively.  The least expensive duplex in Garden Grove is located on Monroe Street at $810,000, however it does bring in twice the income in rent as the two in Santa Ana.  There are three triplex multifamily properties available in Santa Ana ranging from the high 500k’s levels all the way up over 1 million.  Lastly there is an awesome inventory of six great four-plex income properties available in Garden Grove and three still available on the MLS in Santa Ana.  To view pictures and details on these duplex, triplex, fourplex multifamly income properties always visit www.MultiFamilyOWL.com    !!!!

 

Fullerton, Anaheim & Orange…..March 2014 REO multifamily opportunities.

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MultiFamilyOWL gets many calls every week from income property investors searching for multifamily duplex, triplex and fourplex properties in the cities of Orange, Anaheim and Fullerton.  Today while helping an  investor locate some well performing multi-family income properties in the Anaheim area, he inquired if there were any REO properties available.

Currently there is a four-plex multifamily REO listed for sale by Baywest & Associates on the MLS on Iris Court in Fullerton.   This fourplex features four 2 bedroom 1 bathroom apartments and is listed just over 800k Fullerton, California  There is also an REO triplex in Anaheim, California listed just below 800k by Incline Realty located on East Terrace Street.  This triplex features a 3 bedroom 3 bathroom apartment and two other 2 bedroom 1.5 bathroom apartments.  Looks like all the REO multifamily properties have not dried up completely even in great neighborhoods like Fullerton, Anaheim and Orange, California.   To view these properties and many other awesome income producing duplex, triplex, fourplex multi-family properties in Orange, Tustin, Fullerton, Anaheim and Whittier visit www.MultiFamilyOWL.com

Culver City, Mar Vista & Westchester……Exploring duplex and larger multifamily income properties just east of the beach.

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Culver City, Mar Vista and Westchester are three amazing neighborhoods for multifamily income property investors to acquire duplex, triplex or fourplex properties.  Located perfectly centralized on the westside, the tenant base is massive and asking prices and Gross Rent Multipliers are a little bit more reasonable than the neighboring areas of Marina Del Rey, California, Venice and Santa Monica.  Be sure to see the hottest and newest multifamily listings available at www.MultiFamilyOWL.com

Westchester, California is typically the most reasonably priced area of the three when looking at multifamily income properties.   Currently there is a duplex on Reading Avenue producing $36,000 gross operating income with a recently reduced asking price of $639,995 and a fourplex on Glasgow Avenue producing $52,464 gross operating income with an asking price of $775,000.  At the time of this blog post, both properties had been active on the MLS just under 2 months.

The Culver City, California and Mar Vista neighborhoods are also very tight inventories when looking at multifamily income properties.  Currently per the MLS, there are eight duplex, triplex and fourplex properties in escrow, with only seven duplex and triplex properties available for sale.  The average price of the seven available duplex and triplex properties is right around 1 million, with the high being just under 1.5 million and the low being just above 1/2 million.   Searching www.LoopNet.com we also located a duplex on Sawtelle Blvd listed at $925,000 this duplex offers to large 3 bedroom apartments and might be worth a closer look.

Venice, Marina Del Rey & Playa Del Rey…….A multifamily income property investor’s dream or nightmare?

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Currently the average duplex or triplex available on the MLS in Venice, Marina Del Rey or Playa Del Rey is listed right around $2,000,000.

Currently there are three duplexes available in Venice California under two million.  Two of these duplexes are on Cabrillo Avenue only one block off of Abbot Kinney Blvd, both are listed right around 1.5 million and offer superb locations.  The third duplex is listed just under $1,200,000 and is located on Glencoe Ave about 1/2 mile east of Lincoln Blvd, also a central location but not nearly as close to the Abbot Kinney trendy district.

Marina Del Rey currently has even lower inventory of multifamily income properties, with the least expensive property currently available being a beautiful high-end triplex on Catamaran Street listed just under 2.5 million.  www.MultiFamilyOWL.com

Playa Del Rey California has a very unique commercial/residential duplex opportunity for sale on Culver Blvd listed on the MLS just a bit over 1.5 million.  This duplex offers the opportunity to lease the downstairs as office/business space and rent or live in the three bedroom quarters above.

Newport Beach Duplex—–Huge Price Reduction TODAY !!!!!!!——-

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Video of 2008 W. OceanFront Newport Beach MultiFamily Duplex For Sale Huge price reduction coming today at 2008 W. OceanFront Newport Beach, Ocean Front duplex for sale.   New price will be $2,395,000.   Visit www.2008oceanfront.com  and www.MultiFamilyOWL.com for all the details. This is the multifamily income property in Newport Beach every investment property owner dreams of, super solid rental history.

HURRY this one will not last long at this price!

Go to MultiFamilyOWL.com to view many more income properties for sale in Newport Beach, California.