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The latest sales and pricing trends for Venice Multifamily. Venice Multifamily Holds Strong Despite recent increases in interest rates, multifamily continues to increase in Venice. Interest rates are projected to continue to increase throughout 2017. As interest rates increase, which will increase an investors cost to borrow and ultimately will impact the net income earned on a multifamily investment. When this happens, the...

JUST SOLD AND IN ESCROW 2 PROPERTIES IN MIRACLE MILE Click here to have your portfolio evaluated in 48 hours.  Just Sold for $2,850,000 6 UNITS IN MIRACLE MILE ON A LARGE LOT ZONED R4 744 S Ridgeley Drive, Los Angeles, CA 90036 $457,000/unit $474/sqft 22.92 GRM 2.30% cap Click here to get your portfolio evaluated. In Escrow! 6 UNITS IN MIRACLE MILE 637 S Burnside, Los Angeles, CA 90036 Prime...

[caption id="attachment_15789" align="alignnone" width="300"] Measure S Defeated[/caption] Los Angeles voters rejected ballot Measure S on Tuesday March 7, 2017 which was an initiative to change Los Angeles City laws governing modifying the general building plan and real estate developments. Voting "yes" to Measure S would support a moratorium on construction that would increase density for a period of two years in...

A Q4 2016 Review and Outlook Below are some great slides and summaries provided by CoStar from last week's presentation. Based on CoStar data, there was a significant decrease in both annual demand. Something interesting to look at was the increase of homeownership in 2016 which could be directly correlated to the increase in vacancy perhaps in addition to the historically low interest...

On December 15, 2016 Mayor Eric Garcetti signed the Tenant Buyout Ordinance, combined with Rent Stabilization Ordinance, in effort to curb the housing affordability issues the city of Los Angeles is experiencing. Source: https://www.lamayor.org/mayor-garcetti-signs-tenant-buyout-ordinance. According to LAMayor.org, half of the families here in Los Angeles live in rent controlled apartments. This ordinance was built to strengthen renters' rights by mandating...

[caption id="attachment_235" align="alignnone" width="1346"] Santa Monica Expo Line Opening[/caption] The Expo Line officially opened at noon on Friday May 20th, the picture above was taken around noon on Saturday showing plenty of crowds utilizing the transit system. The train will take you from Santa Monica to Downtown Los Angeles in 50 minutes. "Looking at the schedule, a train during morning rush hour...