Lyon | Stahl Investment Real Estate

Simply your best choice for investment real estate

Month: September 2016

Beautiful Hermosa Beach Duplex | $1,799,000

Situated west of PCH in beautiful Hermosa Beach, this spacious 2,800SF duplex would make a perfect owner-user investment or development opportunity!

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The front unit is a bright townhome style 3 bedroom 2.5 bath unit with a private patio and a deck off the master bedroom suite, complete with walk-in closet. This unit also features a wet bar, dining room, tile entry, and hardwood flooring. There is a 2 car garage plus additional visitor parking.

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The rear unit has 3 bedrooms and 2 full baths, with a deck off the living room with a sitting area for entertaining. This unit includes a 2 car carport and 2 additional parking spaces and a shared laundry room.

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Conveniently located near both Redondo Beach and Hermosa Beach piers, and a very short distance to shops and restaurants.

Offered at only $1,799,000. Call us at (310) 425-9838 today for more info!

Click here to view the marketing package.

A General Overview of Executor’s Duties [Infographic]

The responsibilities that come with being an executor of an estate can seem overwhelming, especially if you’re unfamiliar with the process. We’ve put together this helpful infographic outlining the major duties of an executor.

One of the major responsibilities often involved in handling an estate includes selling property. When coupled with the stress of your other duties, this can seem like a daunting addition to your already long laundry list of things to do.

Working with trusted real estate experts can help. The Lyon|Stahl team utilizes a cutting-edge marketing strategy for each property we sell that has proven to bring in higher sales prices, better terms, and a quick, no-hassle transaction, all within the shortest time frame possible.

Give us a call at (310) 425-9838 today if you have any questions about the duties of an executor as they relate to real estate – or if you’d like to learn more about our services.

 

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An executor is an individual appointed to carry out the terms of a will. Their responsibilities include handling the decedent’s liabilities, debts, and assets.

Locate Assets
First, locate the Will and any other required documents. You can then determine how to proceed in regard to the Will.
Find the decedent’s assets and keep them safe until they can be distributed.

Notify Involved Parties
Contact each individual to inherit assets according to the last Will and Testament.
This not only includes named beneficiaries, but also potential heirs such as children, siblings, and other family members.

Manage Assets and Liabilities
Put together a detailed list of all assets to be distributed, liabilities, and potential debts to be collected from others.
If the estate includes a business, the executor may be responsible for continuing to run the business until other arrangements can be made.

Wrap Up Affairs
Cancel credit cards, close bank accounts, and notify social security of other necessary parties of the death.
Continue with any necessary payments such as those owed on a mortgage or other debts.

Estate Bank Account
It is best to set up a bank account solely for the estate, and do not commingle the estate’s assets with any other assets. Be sure to keep very detailed records of all cash flow in and out of this account.

File Tax Returns
The executor is not personally liable for the decedent’s debts, but all debts should be resolved before assets are distributed.
Income taxes are required to be paid for all income acquired in the last year that the deceased was alive.

Distribute Assets
Once all claims have been taken care of, assets can now be distributed to the appropriate beneficiaries and heirs of the estate. This may require the executor to sell property or set up any trusts required by the will. Court approval may also be necessary.

Pass Remaining Assets
Any remaining assets not specific in the will must be distributed according to state laws.
According to California law, unnamed property of the deceased will belong to the state.

File Final Accounting
Prepare a final account to close the estate.
Remember to double check all records for accuracy before filing.

Collect Compensation
After the executor’s work is done, he or she is entitled to compensation (subject to court approval).
Remember that this is income that you will need to declare on your income taxes.

Complete Modern Remodel | 4 Units in El Segundo

Lyon | Stahl is pleased to present 1637 E Palm Ave, El Segundo. Conveniently located near the beach, LAX (but not too close!) and the 405 and 105 freeways. The three downstairs units each have a nicely sized private yard, and the upstairs unit has a large enclosed patio.

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Modern renovation with smooth stucco, new windows and sliding glass doors, new electrical panels and wiring, glass garage doors, ceiling fans, new plumbing and water heaters, and new rain gutters. Each unit comes with a washer and dryer, and the building was recently painted.

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There are two 2-car garages, so each unit has one garage space and room in the driveway for a second off-street spot. There is new, drought-tolerant landscaping throughout the property, and this building is located near El Segundo’s award winning school districts.

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Offered at only $2,400,000, this amazing opportunity won’t last! Be sure to call us today at (310) 425-9838 before this deal is gone!

Click here to view the marketing package.