Category Archives: Westchester

westchester california duplex multifamily income property for sale

Westchester California Duplex MultiFamily Income Property For Sale

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Currently there is only ONE multifamily DUPLEX income property listed for sale on the South Bay MLS in ALL of Westchester California !!!!  This duplex is currently listed under $700,000.  To view this Duplex and another multifamily Duplex in Westchester that is currently in escrow click this live link!

Westchester is a neighborhood that straddles Los Angeles and the Westside Region of Los Angeles County and is a great place to buy or sell multifamily, duplex, triplex, fourplex and larger commercial apartment properties. Its job industry, conveniences, and attractions make this a great place to live and there is a good market available to buy multifamily rental properties such as duplexes, triplexes, and fourplexes. These properties can bring in great income and can be sold quickly if you need to move your investments around. Since Westchester is in the city of Los Angeles, there is rent control, unless the building falls under one of the exceptions, which are listed under the definition of “Rental Unit” in LAMC 151.02.

Before continuing to read this awesome and informative blog post, check out this past post I wrote a few months back on Westchester’s multifamily Duplex income market by clicking this live link!

Westchester’s population was 17,975 as of 2012. The estimated median household income in 2011 was $89,013. This is larger than the California median which was $57,287 in 2011.

The main part of Westchester is flanked by Del Rey and Culver City on the north, Inglewood and Lennox on the east, Del Aire and El Segundo on the south and Playa del Rey on the west. It includes all of the Los Angeles International Airport. There is also a two-block-wide shoestring district that runs from the intersection of Centinela Avenue and La Cienega Boulevard north to 63rd Street and then east to Overhill Avenue, where it links with the Hyde Park neighborhood.

The city also enjoys being close to a variety of conveniences. The Los Angeles International Airport (LAX) is in Westchester. Pacific Harbor Medical Group and Playa Vista Medical Center are the local hospitals. Loyola Marymount University is the local college, and the University of California Los Angeles (UCLA) which has over 37,000 full time enrolled students and is only 9 miles away.

Westchester has many attractions, including the Westchester Recreation Center which has an auditorium, barbecue pits, a lighted baseball diamond, lighted outdoor basketball courts, two indoor basketball courts, a children’s play area, a community room, a lighted football field, an indoor gymnasium without weights, picnic tables, a lighted soccer field, and lighted tennis courts. Westchester is also home to some “Googie architecture,” which is a form of modern architecture, a subdivision of futurist architecture influenced by car culture, jets, the Space Age, and the Atomic Age. Pann’s restaurant, at 6710 La Tijera Boulevard, is “probably the best-preserved example” of the Googie-style architecture. The Theme Building is a structure at the Los Angeles International Airport and is another example of Googie architecture.

All of these features make Westchester a great city to buy or sell multifamily investment rental properties such as duplexes, triplexes, fourplexes and larger commercial apartment buildings. This vibrant, growing community has great attractions, a healthy work industry, and above average rent. The density of the city and the desire for people to live here, make it an ideal location for multifamily living and the city does have great duplex, triplex, and fourplex properties.

Also serving other Los Angeles County Cities.

This information was gathered from city-data.com, and wikipedia

 Thank you for choosing MultiFamilyOwl.com in your search for a duplex, triplex, fourplex or commercial apartment for sale in Westchester.

 

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.