Category: rent

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Downtown Los Angeles Income Property Real Estate Lease Market Report for November 2022

REAL ESTATE NEWS (Los Angeles, CA) — Are rent prices going up or down? Staying the same? Let’s take a look. According to the MLS statistics for Downtown L.A. and nearby loft neighborhoods 23, 42 and 1375, rents are rising substantially. Urban L.A. housing is getting more pricey:

There were 61 lofts leased last November 2021. An average of 42 Days On Market (29 days Median). Median rent price $2,700. Average $3,073.

This November of 2022, there were only 55 units leased. They were on the market for an average of 50 days (43 days median). Median rent price $2,975 and average rent $3,510.

While it’s taking a bit longer to find renters, the market is stagnating while lease prices are inflating, with tight rental inventory and significantly higher rent prices than the same period last year. Stagflation is clearly still the name of the game, with a declining economy and higher prices aiming for the moon, with no end in sight.

Get a free list of lofts for lease in L.A. Fill out the online form:

LOFT & CONDO LISTINGS DOWNTOWN LA [MAP]

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Copyright © This free information provided courtesy L.A. Loft Blog with information provided by Corey Chambers, Broker CalDRE 01889449. We are not associated with the seller, homeowner’s association or developer. For more information, contact 213-880-9910 or visit LALoftBlog.com Licensed in California. All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties subject to prior sale or rental. This is not a solicitation if buyer or seller is already under contract with another broker.

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Squatter in the SB Grand?

Distressed properties quietly return to Downtown Los Angeles

ASK COREY

Q: How do they expect to draw interest in this property without showing any pics of the interior. I would like to set up a time to view this unit. — Mike S.

A: Thank you for your request on the L.A. Loft Blog. We are told that the loft for sale may have an un-cooperative, non-paying renter tenant in place who comes with the unit. If true, it will probably require an eviction after escrow closes, thus may potentially be sold AS IS, perhaps with no inspection or limited inspections. Sadly, this has become more common recently in Los Angeles as the city and state have gone too far with virus hysteria, new counter-productive rent control laws and misguided socialist policies. Below are links to photos and videos of similar units.

Technically, a squatter is a person who unlawfully occupies an uninhabited property, but the term may sometimes be applied to a renter who stops paying rent for an extended period of time. Landlords who wish to avoid conflict sometimes prefer to sell a property for a very good price rather than battle an aggressive, non-paying tenant. For business minded investors, this can offer a profitable opportunity. A stylish historic industrial style loft with character and large square footage at a low price, this type of distressed property may present a special deal for the right buyer, particularly an investor and cash buyer:

Welcome to this lovely high ceiling loft located on 312 W 5th St #907 in the Historic Core of Los Angeles surrounded by Little Tokyo, Toy District and the Arts district, #10,#110, #101 Freeways. Walk into your LA Loft with High ceilings, open floorplan with AC inside. The building features a rooftop pool, spa, lounge, with an amazing 360-degrees panoramic view overlooking downtown L.A. 24/7 security and concierge, and gym. Easy walk over to the farmers market, Disney Concert Hall, Crypto arena/LA Live! This loft could make a great investment opportunity. | PROPERTY DETAILS

Here is a link to similar unit #707 with photos
https://www.themls.com/Share/YWFiaWpoZmpp

Here’s a link to video of similar unit # 307 (907 will have more natural light)
https://youtu.be/L3i7ITyjfCo

860 Sq Ft. Asking $373,000
312 W 5th Street 907, Los Angeles, CA 90013
Property Details at https://tinyurl.com/sbgrand

Get a free list of distressed properties in Los Angeles. Fill out the online form.

LOFT & CONDO LISTINGS DOWNTOWN LA [MAP]

  Lofts For Sale     Map Homes For Sale Los Angeles

SEARCH LOFTS FOR SALE Affordable | Popular | Luxury
Browse by   Building   |   Neighborhood   |   Size   |   Bedrooms   |   Pets   |   Parking

Non-paying renters can present an expensive nightmare for landlords, yet lead to a great deal for investors.

Copyright © This free information provided courtesy L.A. Loft Blog with information provided by Corey Chambers, Broker CalDRE 01889449. We are not associated with the seller, homeowner’s association or developer. For more information, contact 213-880-9910 or visit LALoftBlog.com Licensed in California. All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties subject to prior sale or rental. This is not a solicitation if buyer or seller is already under contract with another broker.