Category Archives: Buying Tips

Helping Los Angeles County RENTERS become OWNERS with cheap Duplex properties for sale

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MultiFamilyOWL.com is working to help all renters in Los Angeles County find cheap Duplex Properties For Sale in Los Angeles County so they can STOP RENTING and start COLLECTING RENT!  By clicking the link above you can view many Duplex multifamily income properties currently for sale in Los Angeles County priced under $200,000 !!!  With the average 1 bedroom apartment renting for close to $1,000 per month, if all renters start purchasing duplex properties they will be living for almost free!

MultiFamilyOWL.com works hard to make these affordable duplex properties for sale easy to view and provides our viewers the name and brokerage of the listing agent handling the listing so that our users can quickly contact them.  MultiFamilyOWL charges NO FEES, we have NO LOG  IN, we have NO PASSWORD requirements.  We just want others in Los Angeles County to benefit from multifamily property ownership like we do!!!

You can become your own landlord!  Stop paying rent and start collecting rent!  Make 2017 the year you begin your real estate empire!!  We are always here to help!

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: Alhambra – Altadena – Arcadia – Azusa – Baldwin Park – Bell – Bell Gardens – Bellflower – Beverly Hills – Brentwood – Burbank – Carson – Compton – Covina – Culver City – Downey – Eagle Rock – El Monte – El Segundo – Glendale – Glendora – Harbor City – Hawaiian Gardens – Hawthorne – Hermosa Beach – Highland Park – Hollywood – Huntington Park – Inglewood – Lakewood – Lawndale – Lomita – Long Beach – Los Angeles (City) – Lynwood – Malibu – Manhattan Beach – Marina Del Rey – Monrovia – Montebello – Monterey Park – Montrose – North Hollywood – Norwalk – Pasadena – Playa Del Rey – Pomona – Redondo Beach – Rosemead – San Dimas – San Gabriel – San Pedro – Santa Monica – Sherman Oaks – Silver Lake – South El Monte – South Pasadena – Southgate – Studio City – Sun Valley – Temple City – Toluca Lake – Torrance – Valley Village – Van Nuys – Venice – West Covina – West Hollywood – Westchester – Whittier – Wilmington

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

Los Angeles Investment Property: DUPLEX, TRIPLEX, FOURPLEX & Larger Income Producing MultiFamily Property For Sale

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Locating the best REALTOR to help you find and analyze your next Duplex, Triplex, Fourplex or Larger Income Producing MultiFamily Apartment Building is your first step.  Investment properties require a specialized skill set of understanding CAP Rates, Gross Rent Multipliers, Vacancy Factors and Operating Expenses.  Each community also may have government regulations such as Rent Control.  In some instances, Section 8 can work to a landlord’s advantage, so you really need to locate a Realtor who is not only an Investment Property Specialist, but also knows the community regulations and market rents thoroughly.

MultiFamilyOWl.com is here to help direct you to the best and most experienced Investment Property Realtors in each community throughout Los Angeles County.  When searching cities on MultiFamilyOWL.com you will find the contact name and brokerage for each listing Realtor.  Realtors who have multiple listings in areas you are interested in are usually good ones to start with.  Ask questions such as:

-How many Investment Property listings do you currently have?

-Do you personally own any Duplex, Triplex, Fourplex or larger income producing apartment building multifamily properties?

-Are you familiar with determining realistic Net Operating incomes?

-Do you have any Investment Property designations through the CAR, NAR or CCIM?

Currently the hottest areas in Southern California for Investment Property purchases are:

  1. North Hollywood
  2. West Hollywood
  3. Long Beach
  4. Huntington Beach
  5. San Clemente
  6. Torrance
  7. Inglewood
  8. Santa Ana
  9. East Los Angeles
  10. Garden Grove

Things to remember when buying a multifamily residential income investment property…..March 6th, 2014

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Monday I received a call from a novice residential income multifamily investor who asked if I would come look at a seven unit apartment building for sale he was thinking of putting an offer in on in the valley of north Los Angeles county.  On paper the financials looked good, almost too good to be true.  Before agreeing to make the drive I asked the following questions just to be sure we couldn’t eliminate the building right away for an obvious flaw:

1) Are all tenants current on rent?   2) Are there any current violations, pending complaints or pending litigation from the city, police department or tenants?   3) Is the building zoned and certified as 7 units?  4) Are the rents confirmed actual rents or are any of the rents proforma?   5) Is each unit separately metered for electric and gas?   6) Is there a common laundry room, and if so are the machines coin operated with leases?   7) Has the building been professionally managed or owner managed and how many years profit loss statements are available upon request?

The prospective buyer spent Tuesday and Wednesday this week checking off these questions with the owner of the building and relayed the answers to me. Things seemed to be checking out so i agreed to make the drive this morning from Orange County and give the building a closer look.  The exterior of the building seemed very well maintained and the owner arranged for us to view the interior of three units which had very cooperative tenants.  Upon inspecting the first 2 bedroom 2 bathroom apartment I quickly found two big red flags:

1) No individual water heater in the unit nor outside the unit.   2) Heating was electric baseboard.

So the units did have separate gas and electric meters, however the gas meter only serviced each apartments cooking appliances and the electric meter serviced each apartment’s baseboard heating and lighting.   When I questioned the owner on the average amount of each tenant’s electric bill, the owner acknowledged that he gives each tenant a stipend to assist in the bill during the winter months only.

Upon inspecting the common laundry room I found two beautiful 175 gallon water heaters, and you guessed it, ELECTRIC.  These two water heaters fed all seven units hot water and  the common washers in the laundry room and this electric bill was paid by the owner.  I asked the owner what his monthly electric bill was on average and he said he would email us the last 12 months.

So very important, when asking if each unit is separately metered, also always ask if the heating and cooking appliances are gas, electric or propane.  Also always confirm each unit has an individual water heater and confirm if it is gas or electric.  Also always remember to request the water bill prior to making your offer (I love buildings with succulents) and to see how many exterior common lights there look to be.

When buying duplex, triplex and fourplex or larger multifamily  income properties in Los Angeles and Orange County California you do not have the same severe heat and cold as other  multifamily markets around the nation, but we do have a massive water shortage and very high electric utility costs that you must always be aware of.

Estoppel Certificates……Read Carefully when buying a Multi-Family !

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When buying a multifamily duplex, triplex, fourplex or larger apartment building there are many due diligence items that separate the inspection/contingency phase of escrow from customary single family purchases.  This blog post will be highlighting the extreme importance of understanding the Estoppel Certificates.

According to Legal dot com’s website a Estoppel Certificate is formally defined as:

“A tenant estoppel certificate is used to verify the current status of the tenant and landlord’s rights and obligations under an existing lease. The estoppel certificate identifies the tenant and landlord; the leased property location; the lease commencement date, termination date and option period, if any; the status of rent, prepaid rents and security deposits; status of any defaults by the landlord, among other information.

An estoppel certificate is typically used when the owner of a commercial property wants to sell  the property, and the buyer requires confirmation of the status of all leases in the property, to ensure that the tenant(s) do not have any claims against the landlord which would allow the tenants to offset or withhold future rent payments.”

The Estoppel Certificates will be signed by each tenant and the landlord/owner with current leases attached.  Read carefully to clearly understand who is responsible for each utility, who owns which furnishings/appliances and if there are any special agreements/payments between the tenants and landlord for services the tenant may perform at the property (gardening maintenance and exterior maintenance are two common ones).  If there is a common laundry area or laundry room with coin operated machines, prospective buyers must be certain to request any possible leases that exist for these machines.  These leases commonly run with the property and can be over 10-15 years in length term.