Who would not love to live on the beautiful sandy shores and peaceful aura of Hollywood Beach? It is present near the Atlantic Ocean and is one of the best Florida ocean-facing beaches.
Hollywood beach became popular after Hollywood movie stars and the fact that they brought real estate there. This place holds great investment opportunities due to its location and convenience factors.
For investors looking to buy or sell properties in Florida, Hollywood beach should be their first option. Why? Continue reading to find out why to invest in Hollywood beach real estate and whether it is profitable.
Reasons Why You Should Invest in Hollywood Beach Real Estate
Hollywood beach has always attracted investors due to its elegant scenes and all the basic amenities. You’ll get everything from businesses to entertainment sites in this single place. Not only this, but the surrounding areas are also well occupied by majestic cultural beauty and natural overlooks.
The city also has unique outdoor places to enjoy your favourite outdoor activities. All in all, everything adds up to the beauty of this place, making it the perfect Hollywood real estate. Besides this, there are some crucial factors that you should consider before investing. In detail below, let’s look at the reasons to invest in Hollywood beach real estate.
Did you know that over 118 million tourists visited Hollywood beach last year? This is all because of the attractive location that makes it one of the top tourist destinations in Florida. People love to be on this beach because of its high walkability score and pedestrian-friendly streets.
If you plan to sell or buy a property in Florida, invest in Hollywood beach real estate and maximise your profit. It is in the heart of Los Angeles and provides easy access to surrounding areas. As a property rental, you’ll get restaurants, parks, and entertainment sites nearby. Besides this, Hollywood, Florida, real estate investment gives you the following location perks:
- Variety of events and cultural shows
- Access to public transportation
- Pristine beaches with super-relaxing views
- Beautiful parks best for family tour
2- Average Housing Prices
Hollywood beach has great potential for property rentals. The major reason to invest in Hollywood beach real estate is its average housing prices. Hollywood beach real estate has a steady price rate compared to other markets.
According to the latest market trends, house prices have gone 6% higher in Hollywood beach. The average rental price was $483k, following a 6% increase from last year. This is set to increase with time, generating a greater profit for investors.
In the same way, some of you might want to sell your home and buy other profitable property in this city. If you plan for it, you should contact the 3-step home buyer for a quick and reasonable deal. With the assistance of these real estate professionals, you can sell your home and receive the cash within minutes.
3- High Appreciation
In Hollywood, Florida, real estate appreciation is not something that you’ll find unusual. Every year, Hollywood beach shows a nominal appreciation in properties. For this reason, it is also in the top ten national appreciation real estate markets.
Whether you want to rent out an apartment in Hollywood beach or sell a property, you’ll get significant profit over time. This is because rental values are set to increase with each passing year. To illustrate, the real estate market of West Hollywood has shown a massive appreciation of 64.43% in the last decade.
4- Strong Economy
Economic growth is a vital factor when you plan to invest in Hollywood beach real estate. Fortunately, the job or employment ratio has shown an upward trend of 1.9% in the previous year. To put it all, the economy of West Hollywood is steady and developing positively.
Due to the progressive economic rate of this city, people from different areas love to reside here permanently. Thus, Hollywood beach real estate is a hub for businesses and property investors. Moreover, the local government encourages people to invest more in rental properties to gain maximum profit.
5- Legal Airbnb Rental
The Hollywood beach real estate market does not hold any restrictions for Airbnb listings. You can invest in Hollywood beach real estate with an effective Airbnb rental strategy. The Median Property Price in the Airbnb marketplace is $535,380. This comes with a 7.7% Airbnb cap rate or cash-on-cash return.
These lenient Airbnb regulations make it easy for investors to rent apartments at a reasonable market price. Above all, you will get great profitability, convenience when selling, and safe accommodations in the Sunshine State.
6- Conducive Market
Hollywood beach real estate is a hot yet non-competitive market. Unlike Florida or US housing markets, where the prices fluctuate rapidly, West Hollywood has a cool buyer’s marketplace. However, there is a high appreciation that does not affect the selling price rates.
In this way, the property investors are in safe hands and can have a sound investment in this city. Even when housing prices are going high, you can buy properties at a profitable rate. Enlisted below are some factors that affect the market prices and retail value:
- The mortgage rates
- The housing inventory
- Availability of properties
7- Maximum Life Opportunities
Hollywood beach is popular as an ideal spot you’ll find in Florida. It offers maximum life opportunities for those who wish to invest in Hollywood beach real estate. Away from the noise and busy city life, it is a peaceful place to reside permanently. The culture, ambience, and nature are perfect for an enjoyable stay here.
As a foreigner, you’ll love the social environment and friendly nature of people on this beach. The average age of people residing here is 40 to 50 years. Thus, Hollywood beach real estate is a good investment option for property owners. Besides the basic amenities, you can get the following life opportunities in this city:
- A high employment ratio with a flourishing job market
- An urban feel with the culinary scenes
- Multiple livelihood and housing options
- Has a work/life balance
- Variety of amusement parks, cafes, and stores
8- Loan Facilities
West Hollywood offers multiple loan facilities for foreigners and investors. Suppose you have to invest in Hollywood beach real estate; you can apply for bank loans conveniently. Whether you’re a short-term property rental or a long-term investor, you can get a loan without any restrictions. Enlisted below are some steps that describe how you can apply for a loan application in Hollywood beach.
- Down Payment
You will need a down payment in most cases among the basic loan terms and conditions. For example, if you want to buy a house worth $380k, you’ll pay 10 to 30% for this property upfront. You can reduce your interest rate and earn a significant profit.
- Interest Rate
Hollywood beach provides an advantage to investors by offering a lower interest rate on credit history. Investors with good to excellent credit scores can easily get a fair mortgage rate when buying or selling property. The daily interest rate may increase to 7% for those with low or no credit history.
- Loan Extension
Compared to investments in other countries, mortgage rates in West Hollywood are super-affordable. The best thing is you can get an extension on your loan for up to 30 years. This favours your investment strategy and lowers the annual mortgage rate.
- Required Documents
Once you fully comply with the loan terms and conditions to invest in Hollywood beach real estate, you can apply for it. You just need the following credentials for a real estate loan application:
- Proof of income
- Credit history
- Bank statements
- Tax returns
- Identity proof
- A permission letter
9- Easy Cash Flow
Investing in Hollywood beach real estate is an easy-to-get long-term profit. You can generate a solid passive income stream with high appreciation and common tax deductions. Unlike other real estate marketplaces, West Hollywood is a stable investment market. You can conveniently buy or sell properties in this city without the risk of losing profit or getting scammed.
Moreover, you do not need government agreements to invest in this city’s real estate. The cash flow is smooth and steady unless you follow the right investment strategy. You can also increase your generated profit by upgrading your property over time.
10- Profitable Rental Properties
The real estate market in Hollywood beach is highly saturated with plenty of rental properties for investors. Rental property investors own more than 10% of the market. Similarly, the residents own 20% of the houses in West Hollywood. This shows the hot buying and selling competition in the overall market.
Due to its attractive location and luxurious amenities, Hollywood beach is a great tourist spot. Thus, you will get ample opportunities to invest in luxury apartments for travellers. This will generate a multifold profit within a short time.
Why Choose the 3-Step-Buyer to Invest in Hollywood Beach Real Estate?
As it provides various housing options for investors, you should invest in Hollywood beach real estate. Nevertheless, this place is a great investment option for profitability and accountability. Equipped with all the basic amenities, it is an all-in-one spot for tourists and residents. However, you will need a real estate company that can assist you in buying and selling houses at Hollywood beach.
For this, nothing is a better option than the 3-Step Home Buyer. With decades of experience in real estate investment, we close your deal within three simple steps. Our professionals will thoroughly read your rental agreements and sell the property within seven days.
So what else do you need to invest in the super-cool marketplace of Hollywood beach? Call us now and get your property out of the market within a few minutes.