Playa Del Rey California’s multifamily income property tenant base has added a new category……The Software Programmer/Video Game Designer/.com start-up innovator. The duplex, triplex, fourplex multifamily income properties have long been filled with students and surfers over the decades, however with the HUGE technology BOOM in Playa Del Rey, rents are rising and a highly skilled work force is in need of housing. Currently there is only one DUPLEX multifamily income property listed FOR SALE in all of Playa Del Rey, click this link to view it!
Playa del Rey (Spanish for “Beach of the King” or “King’s beach”) is a beachside community home to many residential rental income properties in the Westside of the city of Los Angeles, California. It has a ZIP code of 90293 and area codes of 310 and 424. The district’s population is estimated at 9,755 and the visible rolling hills are the result of ancient, wind-blown, compacted sand dunes which rise up to 125 feet above sea level. They are often referred to as “The Del Rey Hills” or “The Bluffs”. This area of sand dunes was the last stretch of coastal land in the city of Los Angeles to be developed. All of the houses, duplex, triplex, fourplex and multifamily investment properties in this area were custom built, many as beach homes owned by Hollywood actors and producers, including Cecil B. Demille, Charles Bickford, and many more.
Before you continue reading….check out a blog post on Playa Del Rey multifamily DUPLEX market I wrote a few weeks back by clicking this live link!
The community with many duplex, triplex, fourplex and multifamily investment properties available is bordered by the Pacific Ocean to the west, Marina del Rey and Ballona Creek to the north, Playa Vista to the northeast, Westchester to the east, and Los Angeles International Airport and El Segundo to the south. This affluent community of nearly 10,000 has a median household income: $91,339.
Perfect for residential rental income property investors, the vast majority of land in Playa del Rey is zoned for residential purposes only. Only portions of Manchester Blvd, Pershing Drive and Culver Blvd have businesses (mainly restaurants, a pharmacy and offices mixed in with residential buildings).
Playa del Rey is within the Los Angeles Unified School District and buying and selling investment properties in this area is easy due to its proximity to area colleges including:
● 1 mile to Loyola Marymount University (LMU)
● 2 miles to Otis College of Art & Design
● 3 miles to American Intercontinental University (AIU)
● 10 miles to University of Southern California(USC)
● 13 miles to University of California Los Angeles (UCLA) in Westwood
Playa del Rey in the 1950s and early 1960s was known as a great Los Angeles area “surfing spot”, but due to the many rock jetties that were built to prevent beach erosion, the good surf is mostly gone. The beach at the northernmost end of Playa del Rey is still known as “Toes Over Beach. Today a bridge between Playa Del Rey and the jetty between Ballona Creek and the Marina is accessible to foot traffic and bicycle traffic, but not to automobiles. Playa del Rey does not have rent control and interestingly locals refer to the small area of multifamily investment properties south of Culver Boulevard and closest to the beach as The Jungle, regarding a group of closely built apartments with small sidewalks and deep green overgrowth.
Multifamily investment property investors should know that the southern portion of the original Playa del Rey development known as “Surfridge,” is now vacant. Between 1966 and 1975 the houses that were once there were either moved to new locations or were demolished or taken by eminent domain to facilitate the expansion of Los Angeles International Airport (LAX). Today one can see only barbed-wire fences protecting vacant land and old streets where houses once sat. Recent LAX rejuvenation plans call for the city to finally remove the old streets that still line the empty neighborhood. Buyers and sellers should know that the condemned areas of the community are now a protected habitat of the endangered El Segundo blue butterfly.
So fly right into the heart of Playa Del Rey at LAX and tour our many available duplex, triplex, fourplex and multifamily properties there. Plan to spend the day and visit the many world renown museums attractive to prospective tenants like the Getty Center, LA Museum of Contemporary Art, Skirball Center, Museum of Tolerance, or Bergamot Station Art Center. Enjoy a performance at the stunning Frank Gehry-designed Disney Concert Hall, Dorothy Chandler Pavilion, Geffen Playhouse in Westwood, or countless other small theaters. Contact us today about your next multifamily investment property in Playa del Rey.
Also serving other Los Angeles County Cities.
Information gathered from Wikipedia, www.playadelrey.com and innatplayadelrey.com.
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