Looking to spend $2-$3M on a multi-family property in the los angeles area. Where do you think would be the best cities to look?

Asked by Charles Simmons, 90293 Fri May 24, 2013

Would like areas with strong rental demand and maximum future rent appreciation and property value appreciation over the next 5-10 years.Thanks!

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Austin Chen, Agent, Beverly Hills, CA
Fri May 24, 2013

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, REALTOR®
Real Estate Investment Specialist
DRE #: 01898306
Office: 323.902.SOLD (7653)
eFax: 323.443.1093
Mobile: 310.948.2629
Email: austin@hrela.com
Website: hrela.com
1 vote
By the way, I currently have open escrows for 4 different multifamily properties and another 3 about to open soon. I also have several pocket listings that could be of interest to you. My office specializes in multifamily investments, and collectively, we have over 250+ years of experience.
Flag Fri May 24, 2013
Nur Akman Ci…, Agent, Beverly Hills, CA
Thu Jun 20, 2013
Hi Carl,
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.
Nur Akman
cell 310 428 6573
0 votes
Dorene Slavi…, Agent, Torrance, CA
Thu Jun 20, 2013
It depends upon your goals for the purchase. Regardless, you do need a good Realtor to help you.
0 votes
Ron & Ana Gr…, Agent, Beverly Hills, CA
Fri May 31, 2013
You can call a Realtor and have a chat or play games on Trulia your call...323-314-7312 West LA
0 votes
Joshua Sixx, , Los Angeles, CA
Fri May 31, 2013
The best areas to look are on the westside. Pacific Palisades, Brentwood, Santa Monica, Century City, Beverly Hills Post Office will all suit your needs perfectly with a wide range of types, sizes and price ranges of properties which should more than suit your needs. If you need a buyers agent with the knowledge and the inside scoop to save you a lot of leg work and ensure the best investment is made I'll be happy to help. 310-593-1772
0 votes
carlos parra…, Other Pro, Monrovia, CA
Tue May 28, 2013
I strongly suggest Pasadena, South Pasadena, and Arcadia.
0 votes
Arleen Fidler, Agent, Los Angeles, CA
Sun May 26, 2013

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.
Best Regards,
Arleen Fidler
Sotheby's International Realty
Dre# 01166494
0 votes
Ron & Ana Gr…, Agent, Beverly Hills, CA
Sat May 25, 2013
The West Side Is The Best Side. Stay close to Cedars-Sinai, West Hollywood, Beverly Center, Miracle Mile. Beverly Hills, Sony & Fox Studios and around UCLA. No way to go wrong...Most of all enjoy your investment, let it go to work for you! Find us if you need us. http://www.TheGreenwoodTeam.com
0 votes
Seth Phillips, Agent, Los Angeles, CA
Fri May 24, 2013
Great timing!!! The market is appreciating at an amazing pace. High rents, low vacancy, very low interest rates, This is indeed the right time and the right place.

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.
Web Reference:  http://www.sreinvesting.com
0 votes
Great seeing you on here Seth. I agree, Koreatown is red hot! That is why you and I are doing a deal there right now. I'll get back to you with the Seller's response soon. Thanks!
Flag Fri May 24, 2013
Emily Knell, Agent, Huntington Beach, CA
Fri May 24, 2013
At this point in the real estate market, there is opportunity in every single city in LA County.

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
562-430-3053 c
Realtor Since 1996
Realty ONE Group
0 votes
Ron & Ana Gr…, Agent, Beverly Hills, CA
Fri May 24, 2013
Duplexes are your best bet. We have a few in the 1k to,1.8k
0 votes
Moloud elisha, Agent, los angeles, CA
Fri May 24, 2013
It is best to work with an experienced real estate agent to guide you in your search where you can get the best return with lowest vacancy rate and best possible future growth.
You can call me I'll help you with that.

Moloud Elisha
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
Email: moloud@sbcglobal.net
0 votes
Andrew Jones, Agent, Venice Beach, CA
Fri May 24, 2013
Hi Carl,

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.
0 votes
Thanks Andrew. When you say "areas along the hills to the west of downtown" what area would that be?
Flag Sat May 25, 2013
kevin luc, Agent, baldwin park, CA
Fri May 24, 2013
Watch for where the light rail is developing in the next few years and buy it now at today's prices. Go to census.gov and look up facts on crime and schools as well as the local characteristics. Do some drivebys during different times of the day.
0 votes
Lee Fruchter, Agent, Glendale, CA
Fri May 24, 2013
Cash or lender financing? Demand is strong, but you got some great areas in the San Fernando Valley.
NOHO District, Echo Park, Glendale, etc.


Web Reference:  http://www.homesbylee.com
0 votes
Flag Fri May 24, 2013
Christopher…, , Los Angeles, CA
Fri May 24, 2013
Depending on the type of investment style you prefer, the San Fernando Valley is generally a great area for investors with your budget. Getting an idea of the type of property would help especially considering you could be talking about an upscale unit with less units or a property that houses more people and brings in less income per unit.
0 votes
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