Calabasas Residential Real Estate
The Calabasas residential real estate market had a strong start to the year with multiple sales ranging from $500,000 to $6 million. The majority of properties sold in January closed in less than 30 days after listing. Although a few properties remained on the market for over three months, there was no identifiable pattern with regard to location, number of bedrooms and bathrooms, and most likely reflected the overall condition of the property or sale conditions. On average, homes sold in Calabasas had a size of approximately 2,000 square feet.
Calabasas is a highly desirable location for home buyers due to its natural beauty, upscale neighborhoods, and proximity to Los Angeles. The city offers residents a high standard of living, with a low crime rate, excellent schools, and plenty of recreational activities, including hiking, golfing, and shopping. Additionally, Calabasas is home to many celebrities, adding to its glamour and exclusivity.
Los Angeles Multi-Family Commercial Properties
The commercial multi-family real estate market had a limited number of sales, which were in high demand and sold rapidly, lasting less than 28 days on the market. The properties sold for an average of $1.5 million each and comprised buildings ranging from one to eight units. Remarkably, the majority of the properties sold above the asking price, signaling significant competition among interested buyers. This trend reflects the robust demand for multi-family real estate in the current market, and highlights the benefits of investing in this asset class.
About Los Angeles County Commercial Property
Los Angeles County is an excellent location for purchasing a commercial multi-family real estate building due to its strong rental market and high demand for housing. The county has a diverse population and a thriving economy, attracting people from all over the world. Additionally, the area offers a wide range of amenities, including world-class entertainment, dining, and cultural attractions, making it an attractive location for renters.