Elizabeth Hirschhorn’s Airbnb stay at an L.A. property owned by Sascha Jovanovic was supposed to end in April 2022. She says she has a legal right to stay. By Erin Clements October 6, 2023 An Airbnb guest has reportedly been living rent-free in the guest house of a luxury home in Los Angeles for more than a year and a half. According to a report from the Los Angeles Times, Elizabeth Hirschhorn’s Airbnb stay at the property was supposed to end in April 2022, but she refuses to move out unless the host, Sascha Jovanovic, pays her a relocation fee of $100,000, according to a settlement offer rev ..read more

In the long run, it is assumed that average rent will grow at about 3.1%. By Philippa Maister July 25, 2023 Cap rates for prime multifamily assets stabilized last quarter amid signs of a slight improvement in recent growth, according to a recent analysis by CBRE. “After increasing between 20 and 40 basis points in each of the past three quarters, the average prime multifamily going-in cap rate increased by only 1 basis point in Q2 to 4.73%. Exit cap rates fell by 5 basis points. Underwriting expectations for annual asking rent growth over the next three years remain unchanged in Q2 at 2.9 ..read more

Properties owners organize collection teams, tap government funding to cover shortfall By Andrew Asch May 11, 2023 Los Angeles area landlords are owed more than $1 billion in back rent from the pandemic, according to data compiled by National Equity Atlas. During the pandemic, many landlords in the National Equity Atlas’ research area of Los Angeles and Orange counties were forced to improvise to survive the pandemic’s eviction moratorium. Universe Holdings, a company which owns and manages more than 1,000 units in Los Angeles, created a three-person task force at the beginning of the pandemi ..read more

By David Wagner May 11, 2023 If you’re a developer wanting to build new housing in the city of Los Angeles, get ready to wait. A study published Thursday by the Los Angeles Business Council Institute finds that in recent years, new L.A. apartment buildings are taking almost four years to complete on average. Researchers from UCLA and Cal State Northridge found the city would need to increase the pace of construction more than five-fold to reach a state-mandated goal of almost 457,000 new homes by 2029, based on current approval and construction timelines. CSUN economics professor Edward Kung ..read more

One heartland city overtakes Atlanta for the top spot in a list of the most in-demand cities for renters By Barbara Ballinger May 18, 2023 The Midwest is garnering greater interest among would-be renters, according to the latest monthly survey by RentCafe. At the top of the list is Kansas City, Mo., which climbed up from second place and displaced Atlanta, which had been first, according to last month’s report. Second was Detroit. Albuquerque, N.M., moved up to third place, Cincinnati to fourth and Atlanta dropped to fifth. Cities on both coasts got some love from interested renters. In the W ..read more

Multifamily, industrial and neighborhood retail are still going strong, but lingering market uncertainty could impact the Fed’s plan to curb inflation. By: Al Brooks Head of Commercial Real Estate, Commercial Banking May 01, 2023 Key takeaways Market disruptions and a rising interest rate environment have furthered economic uncertainty. Multifamily, industrial and neighborhood retail continue to perform well. But B- and C-class office buildings may have an uphill battle. Commercial real estate owners and operators should look for opportunities to invest in proptech, including digital rent pa ..read more

Project would add to hyperlocal multifamily building boom By Trevor Bach Research by Christian Bautista The Real Deal April 26, 2023 The granddaughter of Z. Wayne Griffin, a 1950s-era television and radio producer, has filed plans for a major apartment complex in East Hollywood. The block-long project is located at the intersection of Hollywood Boulevard and North Lyman Place, close to the Vermont/Sunset Metro station, and calls for a seven-story complex. The plans include about 15,000 square feet of ground floor commercial space, with six levels of apartments above and both ground-level and ..read more

More Than 1,000 Units Expected This Year and Next By Ryan Patap CoStar Analytics March 16, 2023 | 2:02 P.M. LA's Koreatown has the second-largest multifamily construction pipeline on an absolute basis and as a percent of existing inventory in Los Angeles County. Roughly 2,800 units are underway there, representing 4.7% of the current unit inventory. There are four projects under construction with 200 or more units in the area. The largest is Hallasan, a 375-unit complex by national developer Holland Partners. The project is slated to complete in the coming months. With more than 1,000 units e ..read more

Anie Mayelian| 818.915.9118 Aleen Mayelian | 818.442.1678 Below are the Apartment Buildings Sold in Mid City, West Adams, and Hollywood in the First Quarter of 2023! 90019 & 90016 ,Apartment Buildings Sold 90028 & 90038 ,Apartment Buildings Sold If you are interested in buying an apartment building in Los Angeles, selling your apartment building, or simply seeking a property valuation, please contact the Mayelian Group. Anie Mayelian| 818.915.9118 Aleen Mayelian | 818.442.1678 ..read more

Three Failures Are Expected To Affect the Property Industry and Broader Economy, Professionals Say. By Ryan Ori and Mark Heschmeyer CoStar News March 16, 2023 The collapse of three U.S. banks means that one of the toughest real estate lending environments in decades is about to get even tighter, adding a new hurdle to an already challenging time for dealmaking. Since last summer, rising interest rates, inflation and worries of a recession already have been slowing the pace of deals, pushing down sale prices and making developments more difficult to finance. Failures of Silicon Valley Bank, Si ..read more