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Old 06-07-2018, 10:34 PM
 
60 posts, read 37,142 times
Reputation: 87

Advertisements

https://www.apartments.com/4330-city...-unit/g2lhb7z/

I promise I’m not the landlord trying to promote this. I’m just surprised how you can still find rents like this when you go out your way and look in the non-gentrified pockets of the city.

According to the description,

“Fully Furnished *ALL utilities Included (gas, water, electricity and trash) *Private Gated Community *Laundry Services on-site *Steps from Bus Stop straight to Campus! *BEST PRICE AROUND *Free WiFi *Brand new appliances *”.

Not bad, i’d probably live here if I were a new grad millennial seeking a starter residence until I can save up to buy.
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Old 06-07-2018, 10:51 PM
 
Location: California
2,830 posts, read 2,023,205 times
Reputation: 2692
1) "Starting at"
2) It's primarily for students
3) ... and its 4 renters per household, so $550 is the sublet rate
4) If you're not a student, you lease the entire unit for $2,200.
5) It's not really in a great area
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Old 06-07-2018, 11:37 PM
 
Location: Los Angeles (Native)
25,306 posts, read 16,445,196 times
Reputation: 12186
Looks like it’s East L.A /City Terrace area .

$2200 for a 2bedroom apartment in that area wouldn’t be a great deal.

A 2 bedroom in same area for $1675 also looks nice inside like it’s been rehabbed recently

https://www.apartments.com/1521-kurt...es-ca/3v8vb4e/
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Old 06-07-2018, 11:47 PM
 
4,297 posts, read 1,435,775 times
Reputation: 3563
$550/bed

Lol
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Old 06-08-2018, 12:14 AM
 
Location: CA
1,209 posts, read 2,354,151 times
Reputation: 1240
Awwww bless your little cotton socks. You're not getting a whole apartment $500. Also, City Terrace is in the early stages of gentrification, trust. Drive around the hills, check out the new coffee shop La Terraza on City Terrace Drive, go to the park on Hazard and you'll start to see the joggers and gay couples walking their dogs.
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Old 06-08-2018, 12:27 AM
 
Location: Los Angeles (Native)
25,306 posts, read 16,445,196 times
Reputation: 12186
Quote:
Originally Posted by Miss Pip View Post
Awwww bless your little cotton socks. You're not getting a whole apartment $500. Also, City Terrace is in the early stages of gentrification, trust. Drive around the hills, check out the new coffee shop La Terraza on City Terrace Drive, go to the park on Hazard and you'll start to see the joggers and gay couples walking their dogs.
A flip someone trying to sell in City Terrace for $599k , they bought it for 399k in November , it looks nice inside . But seems like quite a bit for the area .

https://www.redfin.com/CA/Los-Angele...m_content=link

At the rate things are going I wouldn’t be surprised if East L.A is on the up and coming list , maybe it already is.

Guess it just depends on how long the housing market in general keeps trending up .

South L.A is hot .. is Watts next ?
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Old 06-08-2018, 01:45 AM
 
Location: CA
1,209 posts, read 2,354,151 times
Reputation: 1240
Quote:
Originally Posted by jm1982 View Post
A flip someone trying to sell in City Terrace for $599k , they bought it for 399k in November , it looks nice inside . But seems like quite a bit for the area .

https://www.redfin.com/CA/Los-Angele...m_content=link

At the rate things are going I wouldn’t be surprised if East L.A is on the up and coming list , maybe it already is.
It is.

New houses are being built especially in the hills. The artists and hipster types are already there throwing their underground club nights. El Sereno is only next door and Forever21 moved their headquarters there and there are a few production companies, some are real lowkey, which is usually how it is.
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Old 06-08-2018, 07:13 AM
 
Location: Southern California
12,659 posts, read 11,377,102 times
Reputation: 35026
Valiant effort OP but it's a $2200/mo apartment in a crappy area.
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Old 06-08-2018, 09:18 AM
 
60 posts, read 37,142 times
Reputation: 87
I apologize to everyone for the confusion. I just reread the link and I completely missed it stated $550 per BED (as someone earlier pointed).

In that case. $2,200 is pushing it for City Terrace. If there were a recession, the Eastside of Los Angeles is the first to crash hard. There are just too many homes in and around Boyle Heights so destroyed, that they can never undo/remodel the damages done without demolishing it completely. The residents of Boyle Heights seem to not care much for home maintenance thus will take decades to gentrify.

Last edited by Bruin1983; 06-08-2018 at 09:27 AM..
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Old 06-08-2018, 09:40 AM
 
Location: Los Angeles (Native)
25,306 posts, read 16,445,196 times
Reputation: 12186
Quote:
Originally Posted by Bruin1983 View Post
I apologize to everyone for the confusion. I just reread the link and I completely missed it stated $550 per BED (as someone earlier pointed).

In that case. $2,200 is pushing it for City Terrace. If there were a recession, the Eastside of Los Angeles is the first to crash hard. There are just too many homes in and around Boyle Heights so destroyed, that they can never undo/remodel the damages done without demolishing it completely. The residents of Boyle Heights seem to not care much for home maintenance thus will take decades to gentrify.
There is a lot of poverty in BH. A lot of people are house rich but cash poor .
The structures are very old since it’s an old part of town
You have old homes on the west side ( west la etc ) too but they are generally maintained better as income is higher .

The market now is nuts all over L.A , fixers are going for about the same price as something in livable condition

All the flippers actually making money are buying off market deals rather than on the MLS .

I’ve even seen people buying off market , and listing in market right away for significantly more .
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