Ridiculously High Rents in DTLA

People are really starting to balk at the ever increasing rents in DTLA. Seriously, we are in the $3-$4.50/sf range. What's justifying the high rents is the fact that people keep renting! Why is this happening? A few reasons:

1. DTLA has gotten so popular as a livable, walkable area, people are willing to spend a larger portion of their income on rents.

2. A growing number of residents have high income as evidenced by the demand for luxury rentals and condos in the area.

3. Housing prices have increased so much so that priced-out buyers have no choice but to rent for longer, keeping rental demand high.

This means that it's a great time to invest in DTLA if you plan on renting the place out. If you're planning on buying, then expect to have to hold on to the property before seeing significant gains, since price increases are expected to slow down.

Rents in So Cal Going Up and Up

According to USC's Lusk Center, rents in So Cal will steadily climb for the next two years. Expected rises will be around 8%--this is usually means metro areas of LA, the OC and San Diego will go up even higher than 8%. If you're in a rent control area, you can either stay put or buy an investment. If you're planning on renting, get locked in now before things go up. If you're planning on renting out your home, you're in luck!

LEASED - 2-Story Live/Work Space in the Arts District - Toy Warehouse #5

More than 2500sf of usable space in this beautiful, historic, character live/work loft in a former Toy Warehouse in the heart of the Arts District, with a stone's throw from Little Tokyo. The unique two-story loft features exposed wood beams, brick, gorgeous hardwood floors throughout, oversized bathrooms, huge open spaces that is a dream for those with a vision for the blank canvas. Walking distance to Urth Cafe, Handsome Coffee, Wurstkuche, Piehole, Umami, Villians Tavern, and more. Offered at $5499/mo.

LEASED - Chic Brick Courtyard Facing Penthouse for Lease - Rowan PH8

Beautiful loft in the historic Old Bank District for lease. This unique L-shaped loft faces South-West and towards the courtyard, which makes it a much quieter retreat. Huge banks of windows all around the perimeter bring in lots of light during the day and city views at night. Includes original exposed brick walls, 14-ft ceilings, and genuine hardwood flooring. Building amenities include a spa, outdoor deck, lounge, and Spring Street Park is just next door. 1170sf, and 1 parking space is included. Offered at $2800/mo.

LEASED - Divine Loft with Mezzanine for Lease - Rowan #101

Beautiful loft in the historic Old Bank District. This unique and airy loft boasts 16-ft ceilings and a mezzanine level perfect for a bedroom or office. Features beautiful crown moldings and polished Carrera marble floors. Building amenities include a spa, outdoor deck, lounge, and Spring Street Park is just next door. Enjoy 1580sf of space and 2 bathrooms. Includes 2 parking spaces. Offered at $3800/mo.

LEASED ABOVE ASKING - Sleek & Modern with a Huge Balcony for Lease - EVO #810

Sleek airy loft in the ultra modern, LEED certified EVO building. Located in the heart of South Park, EVO is just blocks to LA Live, the historic core, and restaurant row. This west-facing unit is located on the 8th floor and features amazing views, an oversized balcony that spans the width of the unit, a partitioned galley kitchen with stainless steel appliances, separated bedroom area, and a separate laundry room with ample storage. The building features a rooftop fitness center, amazing infinity pool with outdoor deck area, 24-hour concierge and security and covered in-building parking. 1 beds, 1 bath, 810sf. Offered for lease at $2500/mo. Email me to schedule a viewing.

Courtesy of Yuri Huxley, Keller Williams Pasadena

LEASED - Dog Lovers Paradise for Lease - Douglas #3A

Built in 1898, the Douglas building once held the main ticketing offices for the Southern Pacific Railroad. The sturdy yet charming office doors still remain as the entry doors for the units. Located at the northern tip of Gallery Row and walking distance to Little Tokyo and the bustle of the Old Bank District, it's also just a hop to the ever-popular dog park. This lovely corner unit shares only one neighbor to the side, and has views of the downtown skyline. Bright and airy with huge original office windows, the unit also has a separated bedroom. 1 bed, 1 bath, 720sf, with a dedicated covered parking space for $2100/mo.

Courtesy of Roxanna Godinez, Loftway

LEASED - Unreal Views for Lease - 1100 Wilshire, #2511

This beautiful, sleek unit on the 25th floor of the 1100 Wilshire live/work building has more views than even some of the Ritz Carlton units. Bright and airy during the day with twinkling views for miles at night, this 2 bed, 1 bath unit features 1140sf of space. Comes with 2 dedicated parking spaces and plenty of guest parking. Outdoor space includes a rooftop pool and deck with BBQ area, plus there's a gym, media room, and 24-hour concierge. Just minutes to Staples and Restaurant Row. $3300/mo (includes utilities).

LEASED - Rare Luxe Industrial for Lease - Biscuit Co. #710

Think Meatpacking District in NY. Just south of Barker Block, Molino, and next door to Toy Factory, the Biscuit Company Lofts are nestled in their own microcosm. The building itself has been beautifully adapted for live/work lofts and at its doorstep is Church and State, Little Bear, Pour Haus, and a convenient grocer called Joe's. Rarely do units come on sale here, let alone for lease, but there's currently a 2-story penthouse that has 2 beds, 1 bath, balcony, and over 1700sf of space. The building has a pool and gym. Offered at $4995/mo.

LEASED - Serious Luxury with Views for Lease - Ritz Carlton #39J

The Ritz. Always glitzy, glamorous, and high profile. But the location in downtown is perhaps one of the most coveted because of the views. This immaculate corner suite boasts 3 beds, 3 baths, and over 2000 sf of space. The views from Hollywood to the ocean are not to be taken lightly. The building has a 24-hour concierge and valet parking, saltwater pool, and gym. Offered at $10,000/mo.

LEASED - High-end Highrise for Lease - 1100 Wilshire, #2402

Lovely corner unit in the amazing 1100 Wilshire live/work building. 270-degree views to the west and the north. This unit has amazing skyline views, 2 bathrooms, has 1600 square feet of space. Comes with 2 parking spots and plenty of guest parking. Built in 1986, the one-time office building is now known for it's stunning rooftop pool and deck, gym, media room, and 24-hour concierge. $3800/mo.

Courtesy of Jessica Robertson, John Aaroe Group

LEASED - Artists' Multi-level Live/Work for Lease - Barker Block, #127

True live/work loft for lease in the Barker Block building. Designed by the KOR Group, the building boasts a lovely rooftop pool and gym--both with views for miles, courtyard areas and an art exhibition tunnel. Plus it's directly across the street from Urth Cafe, perfect for that morning coffee run. The tri-level loft features multiple entryways that open up to spaces that can be used as offices. There's a mix of concrete and dark hardwood floors, 2 bedroom or office areas, open spaced kitchen and living area. Listed at $4000/mo for 2850 sf of livable, workable space.

LEASED ABOVE ASKING - Art Deco Gem for Lease - Eastern Columbia, #512

The Eastern Columbia building is one of the most adored buildings in downtown. The stunning 1930s art deco masterpiece features the iconic clock tower and bluish patina on the exterior, with a beautifully rehabbed interior by The KOR Group. Being one of the few, Mills Act-approved buildings, you'll also save on property taxes. Currently there's a 2-bed, 2 bath, 1770sf property available at $3000/mo on a month-to-month lease.

Courtesy of Ted Trentman, Keller Williams Pasadena

LEASED - Luxury Sky High Views for Lease - 1100 Wilshire, #1806

Gorgeous trophy unit in the amazing 1100 Wilshire live/work building. This corner unit has amazing skyline views, 2 bathrooms, and 1434 square feet of livable space. Built in 1986, the one-time office building is now known for it's stunning pool and deck, views to the ocean from the southwest units, ample parking for residents and guests, and a 24-hour concierge. $3750/mo.

Courtesy of Christiano Sampaio, Loftway