Just Sold Lawndale Duplex: 4564 W 173rd St

I just represented the buyer of a duplex in Lawndale and want to share some thoughts on buying income properties these days.

The subject property is a duplex comprised of 2 three bedroom 2 bath detached units. The sale closed at $885,000 which I thought was a really good deal. One unit was vacant and one was tenant occupied.

While the property need some substantial upgrades such as a new roof, windows, and other repairs due to deferred maintenance, considering the location it didn’t sell for much more than a slightly larger SFR in similar condition might have sold for.

And the location is excellent - just across Artesia Blvd from the Galleria. In other words, almost North Redondo. If I put this property into 90278, it would have sold substantially over $1M. Like a lot over.

My client’s plan is to occupy one of the units meaning he is a really smart first time buyer. Here’s why.

For around $900K most first time buyers will go for a townhome. In this price range, most likely a 3 on a lot in Redondo Beach.

This is a far better investment long term for a variety if reasons not the least of which is that the tenants rent substantially reduces the monthly payment and helps pay down the mortgage to boot.

And in the future, both units can be rental properties.

One of the considerations these days about income properties is the new statewide rent control laws. But that’s a topic for another post.

If you are thinking of buying an income property, let’s chat.

Here’s what my client had to say about the experience.