Long Beach Investment Properties Market Report-2 to 4 units For Sale-Long Beach Income Properties-Long Beach Real EstateLong Beach Investment Properties Market Update 2 to 4 units For Sale 562-212-5420-Long Beach Income Properties-Long Beach Real EstateLong Beach Income Properties Update and Market Report2 - 4 Units
Updated May 5, 2010
Sales of Long Beach Income properties (2 -4 units), are picking up as buyers realize what good buys they are right now. Prices are up slightly in since January but are still low, days on market are down some. Smart investors are investing in the Long Beach income property market and future planning for retirement income. Some of these income property sales have provided instant return on investment (ROI), others will do so in short order. Bank owned investment properties have been entering the market here in Long Beach providing excellent opportunities for ownership. Gross Rent Multiplier's (GRM) are down and Cap Rates are up. The days of a 14 + gross rent multiplier are gone. We are beginning to see GRM's back in the healthy 10 and below range once again. Smart investors are scooping these up bank owned income properties in Long Beach rather quickly, often with all cash offers or large down payments. Its a very good time to be out shopping for residential income properties. Although Long Beach is part of Los Angeles County, we do not have rent control here. This makes Long Beach an ideal place to own and operate investment properties. 2 to 4 income property units may be purchased with a residential loan. 5+ units and mixed use properties will bring you into the commercial arena requiring a commercial loan. Commercial loans are structured very differently than residential loans and the qualifying process is more rigorous. A commercial loan will likely require about 50% down payment with a higher interest rate than pure residential. Contact a commercial lender to find out what you will qualify for and how much down payment the lender will require prior to shopping, the down payment required on commercial loans is usually substantial. Many buyers in contact us interested in purchasing residential investment properties in Long Beach. Some are new to this market and don't understand how to purchase. At this time banks require non-owner occupied units to place a minimum 20% down payment, sometimes higher. Owner occupied units can be purchased with lesser down payment, ask your lender how much down payment you will require for your purchase.
Claiming to purchase owner occupied and not actually occupying is considered to be bank fraud which is a felony. Before considering an income property purchase you should first contact your lender regarding qualification. Long Beach has been experiencing a shortage of available homes and condos for sale; as a result buyers are turning to the residential income property market in an attempt to find a fit. Often a duplex, triplex or a four-plex will provide a very nice front home which may work as a good fit for a 1st time home buyer. A portion of the rental income generated by the units will be considered by the lender and will assist the buyer to qualify for a higher amount, making the purchase both possible and manageable. If you are a 1st time buyer and think this may work for you call your lender, ask them how much loan you will qualify for with rental income from a duplex, triplex or a four-plex. Buyers are finding that Mixed Use Properties can be a great live/work solution. We have few live/work properties in Long Beach, finding the right mixed use property in the right location can be a great resolution. Income properties are a great solution for parents searching for investment properties to house their college student children. While the price may be a bit higher than a condo, the income is as well because there are more bedrooms to rent, more bathrooms and more common area than say a condo purchase would provide.
There are currently 81 duplexes for sale in Long Beach.Average Price: $488,546 Average Days on Market: 115 Lowest priced duplex for sale in Long Beach: $150,000 Highest priced duplex for sale in Long Beach: $1,499,000
There are currently 36 triplexes for sale in Long Beach.
Average Price: $613.132 Average Days on Market: 166 Lowest priced triplex for sale in Long Beach: $144,500 Highest priced triplex for sale in Long Beach: $1,875,000 There are currently 74 Fourplexes for sale in Long Beach.
Average Price: $528,630 Average Days on Market: 181 Lowest priced fourplex for sale in Long Beach: $240,000 Highest priced fourplex for sale in Long Beach: $1,555,000
All 2 to 4 Unit Long Beach Income properties for sale(Includes Signal Hill)Includes Standard Sales, Foreclosures, REO and Short Sale Properties Direct MLS feed is always current and up to date
Properties marked contingent are currently in escrow accepting back-up offers.
Contact Laurie for more information, available property lists, or to purchase investment properties in Long Beach (562) 212-5420
(Direct feeds from the Southern California MLS) Belmont Shore and Naples Island Luxury Real Estate For Sale
Long Beach Homes For Sale
Long Beach Condos For Sale
Long Beach Income Properties For Sale
http://www.longbeachrealestatehome.com/009112
Posted on May 05, 2010 21:45:00 by Laurie Manny
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To begin your search for the perfect home or to sell your home in the Long Beach area, begin your journey by calling Laurie Manny at (562) 212-5420.
