Investment Properties Market Report-2 to 4 units For Sale-Long Beach Real EstateInvestment Properties Market Update 2 to 4 units For Sale 562-212-5420-Long Beach Real Estate
Updated January 8, 2010
Sales of Investment properties (2 -4 units), increased again in 2009. Prices are down, days on market are up some. Smart investors are once again investing in the Long Beach income property market and future planning for retirement income. Some of these income property sales have provided some instant return on investment (ROI), others will do so in short order. Bank owned investment properties have been dribbling onto 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 range once again, sometimes less. There are bank owned properties in the mix, smart investors are scooping these up rather quickly often with all cash offers or large down payments. Its a good time to be out shopping for investment properties. Although we are part of Los Angeles County, we do not have rent control in Long Beach. This makes Long Beach an ideal place to own and operate investment properties. 2 to 4 units may be purchased with a residential loan. 5+ units 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 and may be difficult to acquire for most borrowers. Many buyers contact us interested in purchasing residential investment properties. Some are new to this market and do not understand how to purchase. 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. 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 is currently experiencing a shortage of available homes and condos for sale. Buyers are turning to the residential income property market in an attempt to find a fit. Often a duplex, triplex or a fourplex will provide a nice front home which may work as a good fit for a 1st time home buyer. The rental income generated by the units is considered by the lender and will assist the buyer to qualify for a higher amount, making the purchase possible and manageable. If you are a 1st time buyer and think this may work for you call your lender, ask them how much you can qualify for with rental income from a duplex, triplex or a fourplex.
There are currently 95 duplexes for sale in Long Beach.Average Price: $422,435 Average Days on Market: 1124 Lowest priced duplex for sale in Long Beach: $185,000 Highest priced duplex for sale in Long Beach: $1,390,000
There are currently 28 triplexes for sale in Long Beach.
Average Price: $639,884 Average Days on Market: 177 Lowest priced triplex for sale in Long Beach: $234,500 Highest priced triplex for sale in Long Beach: $1,875,000 There are currently 65 Fourplexes for sale in Long Beach.
Average Price: $571,782 Average Days on Market: 201 Lowest priced fourplex for sale in Long Beach: $175,000 Highest priced fourplex for sale in Long Beach: $1,350,000
All 2 to 4 Unit Long Beach Investment properties for sale(Includes Signal Hill)
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
Laurie Manny Professional Group 244 Redondo Avenue
(562) 212-5420
http://www.longbeachrealestatehome.com/009112 Posted on January 08, 2010 03:45:00 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.
