I have been identifying and purchasing multifamily buildings in L.A,. similar in description to what you have detailed in your question, for my family and myself over the past 19+ years. As an agent for the last several years, I am doing the same for my clients. I would be delighted to assist you in your search. Please contact me at your earliest convenience.
Austin Chen, REALTORÂ®
Real Estate Investment Specialist
DRE #: 01898306
Office: 323.902.SOLD (7653)
I'm currently working with an overseas client who is looking for a multi-family property. They have a specific request.
The best answer is depends on your future plans. Do you want to keep for short term, then high cash flow will be your target, or keep longer and look for property value appreciation.
Yes some cities have rent control, but also there is real estate tax cap, in long term, real estate tax is so min. as if free. plus, about 1.25% real estate tax is very small. (compare to about 4% without real estate tax cap rate in another state).
Next 5-10 years, generally talking real estate cycle is about every 7-8 years. So 5 years for short term, but 10 years can be a different story.
My experience from my own rental propertis, in upscale neighborhoods property value increases faster and more. Demands is high, rents are high, less to no headache. In other neighborhoods, if you buy cheap, fresh up (I'm not talking about rehab), and understand the dynamics of neighborhood (for example if most residents in the neighborhood are young,single people studio or 1 bedroom apts are more preferable, but families with kids, they need bigger apts.). then you may get pretty good cash flow, but the value of the building will not appreciate as much as if it was in upscale neighborhood.
if you would like to see some samples, more info, any questions, please don't hesitate.
cell 310 428 6573
It is best to buy income property on the Westside of Los Angeles to Santa Monica.
Your best bet is to get into a no rent control area. For example Culver City has no rent control like Los Angeles County. You can contact me for more details. One of my clients is a millionaire over because he has taken my advise and now owns five income properties plus his home and is under 44 years old. This is my speciality resdential income;
I would love to speak further with you about your upcoming investment so you can make the right choice.
I look forward to hearing from you. Check out my web site arleensellsla.com my cllient has made a recommendation letter about me. I have been in real estate for almost 20years.
Sotheby's International Realty
Our company is EXCLUSIVELY a real estate investment company. We know the space and we are ready to find you find great deals and grow your portfolio.
I think one of the best areas combining yield, demand, appreciation, security, and quality of neighborhood, is Koreatown. The largest Korean population in the US, and growing at an incredible pace.
Located along the Wilshire corridor connecting the revitalized downtown LA to Sana Monica and the ocean.
YOU need to decide which types of areas YOU would like to invest in.
Maybe YOU want 1 apartment complex that has 10-15+ units. OR do you want to be diverse & get a couple duplexes here & there or triplex, 4plex, multiple of each, beach cities, inland, etc. Are you paying cash, do you need a loan? Do you have a lender in mind,? Would you like a referral?
As you can see I am very active on Trulia, I've been in the Real Estate business going on 17yrs, but you need to be more specific. Please shoot me an email directly, I don't look back on this same Trulia posting for answers after mine.
Emily S. Knell
Realtor Since 1996
Realty ONE Group
You can call me I'll help you with that.
Director, Fine Homes & Estates Division
Residential & Investment
DRE Lic# 01256924
Knowledge, Expertise & Ethics
Century 21 Beverlywood Realty
2800 S. Robertson Blvd.
Los Angeles, CA 90034
Direct # 310 - 592 4324
At the price point you're considering larger complexes are a possibility which is fortunate because these types of multi-family properties tend to yield a much better profit margin and may even operate in the black.
I'd recommend looking in L.A. proper around Hollywood and in the areas along the hills to the west of downtown. These neighborhoods are revitalizing and are at the center of all things Los Angeles so they should appreciate better in the long term than other areas like the Valley that are more on the periphery and therefore less in demand.
There are also some good opportunities closer to the ocean in South Bay, San Pedro, and Long Beach south of the airport (LAX) which are worth investigating
Almost no investment properties operate profitably in many of the better known communities here like Beverly Hills, West L.A., Santa Monica, and Venice because prices are so high across the board.
Please feel free to contact me if you'd like more detailed information about investment properties in some of the communities mentioned here.