Those who own multiple homes and investment properties have some good news coming. With housing prices high and more or less remaining high (even with micro ups and downs), more people will remain renters. Many who have thought of buying will continue to rent longer. And more renters means more demand for rental housing. Landlords can expect to benefit from this.
A client of mine was planning on selling to buy a larger home. I ran some numbers and it turns out she would have pretty good cash flow on her current home since rents have gone up a lot in her neighborhood. And her property isn't under rent control laws. Her lender has increased her borrowing amount based on this potential income. She is now going to keep this property, rent it out, and buy her larger dream home. This is when real estate gets fun.
Showing posts with label renting. Show all posts
Showing posts with label renting. Show all posts
Sunday, March 24, 2019
Monday, April 20, 2015
Rent Prices in DTLA in the Newest Buildings
According to Downtown News, rent prices are higher than ever in DTLA. Not surprising since it's become a destination as well as a neighborhood with an ever-growing list of amenities. And most of all, the ability to walk and bike everywhere within minutes. This lifestyle is new for LA, and it's become one of the most desirable things about DTLA, and a lot of people agree. The demand for housing in downtown has become so great that rent prices, as well as condo prices, have increased dramatically in the past few years. And there are no signs of slowing down.
A snapshot of rent prices in these newly constructed buildings, according to Downtown News:
The Emerson
800sf - Approx $3,295 a month. That’s $4.12sf.
Corner two-bedrooms averaging 1,175sft are $4,995 a month, or $4.25sf.
Ava Little Tokyo
625sf, for $2,510, or $4.02sf.
A two-bedroom unit with 964sf was offered for $2,798, or $2.90sf.
One Santa Fe
$2,010 for 526sf, or $3.82sf.
Two bedrooms start at $2,635 for 899sf, or $2.93sf.
Hanover South Park
709sf for $2,335, or $3.29sf.
Two-bedroom units with 1,050sf were listed at $3,330, or $3.17sf.
Avant
694sf for $2,162, or $3.11sf.
A $2,957 two-bedroom had 1,045sf, for an average of $2.83sf.
Rents in condo buildings in DTLA:
Higgins Building
$2200 for 750sf, or $2.95/sf
1100 Wilshire
$2500 for 750sf, or $3.33sf
Eastern Columbia
$2900 for 1120sf, or $2.59sf
Mura
$2800 for $1240sf or $2.26/sf
Flower Street Lofts
$3000 for $1420sf or $2.11sf
Elleven
$2400 for 970sf or $2.47/sf
Barker Block
$2500 for 890sf or $2.81sf
$4900 for 2630sf or $1.86sf
A snapshot of rent prices in these newly constructed buildings, according to Downtown News:
The Emerson
800sf - Approx $3,295 a month. That’s $4.12sf.
Corner two-bedrooms averaging 1,175sft are $4,995 a month, or $4.25sf.
Ava Little Tokyo
625sf, for $2,510, or $4.02sf.
A two-bedroom unit with 964sf was offered for $2,798, or $2.90sf.
One Santa Fe
$2,010 for 526sf, or $3.82sf.
Two bedrooms start at $2,635 for 899sf, or $2.93sf.
Hanover South Park
709sf for $2,335, or $3.29sf.
Two-bedroom units with 1,050sf were listed at $3,330, or $3.17sf.
Avant
694sf for $2,162, or $3.11sf.
A $2,957 two-bedroom had 1,045sf, for an average of $2.83sf.
Rents in condo buildings in DTLA:
Higgins Building
$2200 for 750sf, or $2.95/sf
1100 Wilshire
$2500 for 750sf, or $3.33sf
Eastern Columbia
$2900 for 1120sf, or $2.59sf
Mura
$2800 for $1240sf or $2.26/sf
Flower Street Lofts
$3000 for $1420sf or $2.11sf
Elleven
$2400 for 970sf or $2.47/sf
Barker Block
$2500 for 890sf or $2.81sf
$4900 for 2630sf or $1.86sf
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