| 90018 Sales Data Last 12 Months (5+ Units) Key sales data for the last 12 months in West Adams/Jefferson Park for apartment buildings 5+ units.7 Deals ClosedAverage CAP rate: 4.89%Average GRM: 12.60Average Price/Unit: $162,809Average Days on Market: 88For a more comprehensive analysis or to learn about an adjacent submarket, please email me at adamestrin@fredleedsproperties.com |
| Rent Growth Since Pandemic Since the onset of COVID, apartment rents in the West region have experienced the slowest growth nationwide. Despite historically running ahead, rents in the West region now fall below those in the Northeast, with the latter becoming the priciest region in the country for apartment rents since November 2023. While rent growth has slowed in the West and South regions, the Midwest and Northeast continue to experience annual rent increases above the national norm. Despite being surpassed by the Northeast in overall rent prices, the West region still maintains the highest rent per square foot, reflecting its smaller average unit size compared to other regions.To learn more, click HERE. |
| Ballot Measure For Extreme Rent Control The upcoming November election in California presents a critical challenge for rental housing providers, as the “Justice for Renters” Act threatens to overturn the longstanding Costa-Hawkins Rental Housing Act. Costa-Hawkins, in effect for nearly three decades, exempts certain properties from rent control and allows for resetting rental prices based on market rates. Advocates against the Justice for Renters Act argue that its passage could lead to stricter rent control policies, potentially reducing rental availability, hindering property maintenance and new development, and ultimately impacting both landlords and renters negatively.To learn more, click HERE. |
| Smarter Way To Do Shared LaundryThe laundry industry has long served as a vital amenity for tenants and an additional revenue stream for landlords. However, challenges such as potential theft on coin-operated machines and unreliable service from larger companies have been persistent issues for property owners. In response, Smartomat Laundry offers a more personalized and transparent approach. By implementing a true 50/50 revenue share model without hidden fees, they aim to provide a fair partnership for property owners. With a focus on honest customer service and prompt responsiveness to maintenance needs, Smartomat seeks to alleviate the frustrations often associated with laundry management in rental properties. Learn more HERE |
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| Owning and operating apartments in Los Angeles has become increasingly burdensome on property owners. If you plan to hold your investments long-term but would like less headaches, we also manage roughly 4,500 units with a robust 200+ person team. For more info, email adamestrin@fredleedsproperties.com |
