Yorba Linda Income Property for Sale & Lease

Yorba Linda is a suburban city in California’s Orange County. It is within reach of Downtown Los Angeles and it is the birthplace of Richard Nixon, the 39th president of the U.S., although he moved away before the city’s incorporation. Its famous resident continues to be remembered through the Richard Nixon Presidential Library and Museum. The city is also home to Savi Ranch, a huge commercial district, as well as various other shopping centers. Furthermore, there are 1,000 physical businesses operating within the city, including a further 1,500 businesses out of residential homes. As such, it is a city with a very low level of unemployment and it is becoming increasingly affluent. Additionally, it is a city that is of particular interest to commercial real estate investors.

It should be pointed out that income property is the type of property that people or firms purchase and sometimes develop on. The goal is to lease out the property until it appreciates substantially in price, after which they sell it again. Income property is often commercial, although it can also be residential. In the latter case, financial experts speak of “non-owner occupied”. For these properties, higher interest rates than owner occupied mortgages can be asked, because they are classed as high risk mortgages.

Yorba Linda Income Property for Sale & Lease – Should You Buy or Lease?

If you are interested in income property in Yorba Linda, the usual options are either to buy or lease.

Buying an income property has a number of advantages, including the fact that:

  • Your monthly costs remain constant because amortizations usually don’t increase during the duration of the mortgage.
  • You can get really good tax deductions, including property taxes and mortgage interests.
  • You ca lease out some of your space in order to earn your income.
  • You have the option of using the income property yourself for your own personal use should you not be able to find a lessee.
  • You can benefit from the tendency of the property value to rise over time.

On the other hand, the cons of buying an income property include the fact that:

  • You do not have much flexibility, which means that if you decide later on to relocate, you will need to sell the property first.
  • You have substantial upfront costs, not in the least because there is usually a 30% down payment to pay on the mortgage. You will also have maintenance, appraisal, and other property management costs to pay.

Income property, by its very definition, is not suitable for leasing. If you were to lease an income property, then you would do so for your own personal use, turning it into a residential property. As a result of this, the only statistics that should be of interest to you are those of prices, supply, and demand for purchased income properties. On the other hand, statistics on leasing these properties if present can also be useful for giving you an idea of what you will be able to earn on your property.

Yorba Linda Income Property for Sale – Trends and Statistics

  • The asking price for income properties in Yorba Linda $314,841.90, which is a 0.7% increase over the past three months, and a 10.5% increase year on year. This is higher than the state ($206,014) area and the metro ($254,071.41) area.
  • The index of total dollars available for income properties for sale in Los Angeles-Long Beach-Yorba Linda is 29, which represents a 13.4% increase over the past three months but a 2.5% decrease year on year.
  • The index of total number of listings of income properties available in Los Angeles-Long Beach-Yorba Linda is 24, which is an 8.9% increase over the past three months, but a 1.3% decrease year on year.
  • The profile view index income property for sale in the Los Angeles-Long Beach-Yorba Linda metro area is 97, which is a 24.9% increase over the past three months, and a 22.5% increase year on year.
  • The index of total number of units of income property for sale in the Los Angeles-Long Beach-Yorba Linda area is 21, which is a 12.2% increase over the past three months, but an 11% decrease year on year.

Yorba Linda Income Property for Lease – Trends and Statistics

Unfortunately, there are no trends and statistics available on potential income earned on leasing out a property that you have purchase. This is in part due to the fact that you could purchase a vast array of different types of properties, and their monthly lease amounts vary greatly. Investing in income property is one of the commercial real estate investments most likely to give you the highest possible returns if managed properly. At the same time, it is one of the most complicated options out there, due to the variety of opportunities that you could choose.