Monthly Archives: June 2017

Manhattan Beach, Redondo Beach, Hermosa Beach, Newport Beach & Huntington Beach Apartment Buildings, Duplex, Triplex, 4-Plex Multi Family Investment Income Property FOR SALE TODAY JUNE 27TH 2017

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MultiFamilyOWL.com is still the #1 website in Los Angeles and Orange County Southern California to find all listed MultiFamily Investment Income Property For Sale instantly.  From small ocean front duplex homes, triplex homes, 4-plexes all the way to very large commercial apartment buildings and apartment complexes, Southern California Investors go to MultiFamilyOWL.com first.

Sean Goodsell the founder of MultiFamilyOWL.com is a Realtor with Coldwell Banker working both Los Angeles and Orange County Southern California.  As a successful MultiFamily Investment Income Property investor himself, he is well suited to help guide both seasoned multi family investors as well as guide newer investors.

Multi-family Investment Property and Home Listings in Los Angeles, CA

The most populous county in the United States, Los Angeles County has a population of 9,818,605 and has more people than 42 individual U.S. states. LA County is a fantastic choice to invest in multifamily residential income property. The economy is improving and decreasing unemployment rates are excellent for rising rental rates. Southern California’s great climate, world renowned attractions and celebrity encounters enables many of LA county’s cities to be vacation destinations. Additionally if you convert your apartment into a vacation rental, you will create short term rentals that will yield higher rentalrates.

The city of Los Angeles is the county seat, is the largest city in California and the second-largest in the United States. Encompassing 4,083 square miles, it is larger than the combined states of Rhode Island and Delaware. You may receive higher rents for multi-unit residential investment properties near the coast, however in general the asking purchase prices are higher.

LA County is composed of 88 incorporated cities and two offshore islands, San Clemente and Santa Catalina Islands. However, most of LA County is made up of 140 County-recognized unincorporated communities.

The most populous cities are:

● Los Angeles – 3,792,621

● Long Beach – 462,257

● Glendale – 191,719

● Santa Clarita – 179,013

● Lancaster – 156,633

● Palmdale – 152,750

● Pomona – 149,058

● Torrance – 145,438

● Pasadena – 137,122

● El Monte – 113,475

● Downey – 111,772

● Inglewood – 109,673

● West Covina – 106,098

● Norwalk – 105,549

● Burbank – 103,340

Major divisions of the county are 1) East: Eastside, San Gabriel Valley, Pomona Valley, 2) West: Westside, Beach Cities 3) South: South Bay, Palos Verdes Peninsula, South Los Angeles, 4) Gateway Cities 5) North: San Fernando Valley, portions of the Conejo Valley, portions of the Antelope Valley and Santa Clarita Valley 6) Central: Downtown Los Angeles, Mid-Wilshire.

Los Angeles County is famous for its entertainment industry; all six major film studios (Sony, 20th Century Fox, Paramount Pictures, Warner Brothers, Universal Pictures, and Walt Disney Studios) are located in the county. Besides motion picture and television industries, LA County resident workers are in international trade supported by the ports of LA and Long Beach, music recording and production, and aerospace.

Moreover, there are great tax benefits to owning income producing real estate. We have many duplexes, triplexes, fourplexes, and commercial apartment buildings without rent control, with on-site parking, laundry and separately metered utilities. A property manager can help you control owner/ landlord expenses and if necessary guide you through the Section 8 and eviction process.

Invest with us and request more information about the historical CAP Rates for your preferred LA county cities and ask about the GRM (Gross Rent Multiplier), Net Operating Income and Gross Operating Income for specific listings.

Information gathered from Wikipedia and propertymetrics.com

Thank you for choosing MultiFamilyOwl.com in your search for a duplex, triplex, fourplex or commercial apartment for sale in LA County.
You might be interested in looking in one of these LA County cities: AlhambraAltadenaArcadiaAzusaBaldwin ParkBellBell GardensBellflowerBeverly HillsBrentwoodBurbankCarsonComptonCovinaCulver CityDowneyEagle RockEl MonteEl SegundoGlendaleGlendoraHarbor CityHawaiian GardensHawthorneHermosa BeachHighland ParkHollywoodHuntington ParkInglewoodLakewoodLawndaleLomitaLong BeachLos Angeles (City)LynwoodMalibuManhattan BeachMarina Del ReyMonroviaMontebelloMonterey ParkMontroseNorth HollywoodNorwalkPasadenaPlaya Del ReyPomonaRedondo BeachRosemeadSan DimasSan GabrielSan PedroSanta MonicaSherman OaksSilver LakeSouth El MonteSouth PasadenaSouthgateStudio CitySun ValleyTemple CityToluca LakeTorranceValley VillageVan NuysVeniceWest CovinaWest HollywoodWestchesterWhittierWilmington

MultiFamilyOWL.com is California’s #1 multifamily investment property website to search thousands of multifamily real estate listings for sale, for rent and for lease throughout Orange County, Los Angeles and San Diego California. Find large commercial apartment buildings, duplexes, triplexes and fourplexes with MultiFamilyOWL’s advanced residential income property search features. The multi-family listings include in-depth descriptions, operating financials and high resolution property photos to help you get an inside look. Stay informed with our blog and be notified of new California multi-family and multi-unit residential income property listings by following our social media accounts. Email us at contact@MultiFamilyOwl.com

© Sean Goodsell, BRE #01258158

City of Gardena California, No Rent Control. Rent Mediation, Yes.

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The City of Gardena is another excellent example of a city within Los Angeles County that has not adopted Rent Control Laws, but is working very hard to protect Tenants and Renters Rights in the rapidly rising residential rental market.  Although Gardena does NOT have RENT CONTROL, Gardena has adopted Rent Mediation in order to create a system which works with both the tenant and the multifamily property owner.  According to the City of Gardena’s website here is some information regarding Rent Mediation we have cut and pasted below:

“The ordinance was designed to shield tenants from unreasonable rent increases while permitting the property owners to receive sufficient rent to maintain their rental units as well as receive a reasonable return on their investment.

In addition, the ordinance requires that a tenant receive a written notice of a rent increase at least thirty (30) days prior to the actual effective date of the increase if the increase is ten percent (10%) or less. If the rent increase is greater than ten percent (10%), the ordinance requires that a tenant receive a written notice of a rent increase at least sixty (60) days prior to the actual effective date of the increase. Mobile Home Park tenants must receive a ninety (90) day notice. All rent increases must also include a notice to the tenant of their right to mediation/hearing and that the tenant has ten (10) business days following receipt of the notice to file a mediation petition with the City in order to exercise their rights under Chapter 14 .04 of the Gardena Municipal Code.

If a tenant desires to file a request for mediation, he/she may do so by completing a “Request for Mediation” form and submitting it to the City Manager’s Office, Room 112 at 1700 W. 162nd Street. Within 30 days of filing, City staff and the Rent Mediation Board will review the request and schedule it for hearing typically within two weeks. For more information, contact the City Manager’s Office at (310) 217-9503 or visit City Hall, Room 112, 1700 W. 162nd Street, Gardena.”

Gardena California is a fantastic example of a well run city, working hard with an awesome community policing program, active Fair Housing Program and improving Public School System. To locate your next apartment, condo, townhouse or single family home for rent in Gardena California please click this live link.  MultiFamilyOWL.com is updated hourly with available housing for Rent!

Rent Control Los Angeles YES, Rent Control Long Beach NO

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As of the writing of this blog post Long Beach California is still not subject to RENT CONTROL as the City of Los Angeles.  Long Beach does have an incredible Section 8 Program assisting tenants and landlords and offers many rent mediation programs to help as well.  Both the City of Los Angeles and Long Beach have very dedicated City employees and Program managers working diligently to assist tenants with rising rents in a manner which also benefits the multifamily property owners.

The City of Los Angeles takes great pride in keeping an efficient, fair and financially symbiotic relationship between tenants and multifamily income property owners.  Rent Control helps landlords keep consistent rents with low vacancy rates and helps tenants offset the lack of housing and rapidly increasing rents in Southern California.