Is Lakewood A Good Place for Rental Properties?

Lakewood CA was one of the first planned suburbs of the midcentury and retains that small town feel to this day. This is incredibly rare in LA county, which gives Lakewood unique qualities for rental properties and investment opportunities. Located close enough to major cities and beaches while far enough to experience peace and quiet, Lakewood can be a great place to invest in a rental property.

Today we’ll go over 3 different reasons as to why Lakewood CA could be the next city you invest in.

Above Average Rent

The first thing investors search for in a rental property is how much can be earned from the rent. Lakewood CA boasts an above average rent of around $2,200 when compared to the national average of around $1,750. This can provide a boost to profitability while covering rising operation costs such as maintenance, taxes and inflation. Naturally this may increase the property’s long term value which is an additional benefit. Furthermore higher rent prices tend to attract more financially stable tenants which can result in having longer term tenants with less issues and complaints.

Lakewood CA is far from an affordable city to invest in. However, rent in Lakewood CA has generally shown appreciation year over year. With the increases being roughly 1.7% meaning there is an expectation that rents may rise in the future.

Location

Lakewood CA is in a great location within Southern California. Although still within LA county, Lakewood sits far enough from the loud hustle and bustle from Los Angeles, while being thirty minutes away from amazing beaches such as Seal Beach, Long Beach and Huntington Beach. Being more inland, means Lakewood CA doesn’t have to deal with the additional maintenance that comes with properties in Beach cities caused by the increased humidity, salty air, and sand. Which can significantly increase the rate in which the home systems naturally wear and tear. 

Though if its necessary to commute for work or visit one of the neighboring cities, there are many major freeways, and great public transit options allowing prospective tenants to easily travel to and from. This combined with the convenience of having a number of shopping centers, parks and amenities nearby makes Lakewood Ca highly desirable for prospective and attractive for investors.

Weather

Like most cities in Southern California, Lakewood has great weather year round. This means that it's a city with great appeal to prospective tenants who don't want to deal with extreme cold or extreme heat. As investors, this supplies you with a more broad pool of prospective tenants.

Moderate weather also lowers living costs for tenants as they don't need to use their heating or cooling excessively which reduces stress on the home systems. This means repairs and investments done to the rental should function well within the average lifespan. This can greatly reduce the overall costs of operations as less repairs and maintenance may be necessary though routine inspections should still be done.

Lakewood’s mild year round climate, great location and above average rent pricing makes it an amazing city in which to invest in a rental property. While there’s less maintenance when compared to beach cities, its important to protect your investment with regular and preventative maintenance. A full service property management company can be the help you need to handle the day to day operations efficiently. This can help owners maintain performance while ensuring the property continues to meet market standards. If you’re looking to invest in Lakewood CA or if you need help managing your Beach City rental property, we invite you to call us today at (562) 888-0247 or complete our Owner Application online.