Compton
REAL ESTATE
These $1 Billion Abandoned Skyscrapers in Los Angeles May Soon Be Revived
A trio of abandoned skyscrapers in Los Angeles may soon get a new lease on life, reports the Wall Street Journal. According to the paper, a new, unnamed buyer has recently emerged, who hopes to take the half-finished development over the finish line. Known as Oceanwide Plaza, the buildings were...
East L.A. rental market is heating up!
Eastern Los Angeles has seen the largest year-over-year jump in rental competitiveness, soaring from 25th place to break the top 20 at the start of this rental season to rank ninth. This dramatic rise is primarily due to a sharp increase in lease renewals (from 42.1% one year ago to 52.7% now).
New 163-Unit Affordable Housing Project Breaks Ground in Long Beach's Midtown
The City of Long Beach has officially embarked on a journey to expand its affordable housing inventory with the groundbreaking of 1400 Long Beach, a new 163-unit complex catering to low-income families. Located in the heart of Midtown, the project aims to transform a previously vacant lot into a community-enhancing residential space. Mayor Rex Richardson, at the ceremony said, "We are thrilled to begin construction for this exciting project in Midtown," and emphasized the city's ongoing mission toward increasing affordable housing availability.
The Rise of Single-Family Rentals in Los Angeles: What Investors Need to Know
Astute real estate investors are always looking for new methods to enhance and safeguard their fortune. Real estate has long been hailed as the foundation for accumulating money as it offers special chances. However, potential investors are sometimes turned off by the hands-on nature of managing rental properties. Turnkey real estate investment is an inventive...
Mandy Moore’s Mid-Century Modern in Pasadena Available for $6M
Actress and singer Mandy Moore has listed her exquisite midcentury modern home in Pasadena for $6 million. The residence, designed in 1955, embodies refined simplicity and seamless indoor-outdoor living. Beyond the stacked brick facade, terrazzo floors etched with brass inlays welcome guests inside. Carefully chosen brass lighting fixtures continue this...
Settlement reached in California suit over permitting fee fraud
SAN DIEGO, Calif. (CN) — A large, corporate residential landlord operating in Southern California has agreed to an almost $20 million settlement over unpaid permitting fees. Dallas-based Invitation Homes faced a lawsuit from Blackbird Special Project, LLC, a relator in the case. Blackbird claimed in 2020 that Invitation Homes got building permits for a fraction of some 12,000 homes it bought and renovated in cities like Los Angeles, San Diego, Sacramento and other cities. The suit later was amended to add a total of 35 cities in the Golden State.
US home sales fell in June to slowest pace since December amid rising mortgage rates, home prices
LOS ANGELES (AP) — Sales of previously occupied U.S. homes fell in June for the fourth straight month as elevated mortgage rates and record-high prices kept many would-be homebuyers on the sidelines. Sales of previously occupied U.S. homes fell 5.4% last month from May to a seasonally adjusted annual rate of 3.89 million, the fourth consecutive month of declines, the National Association of Realtors said Tuesday. Existing home sales were also down 5.4% compared with June last year. Yet home prices climbed for the 12th month in a row. The national median sales price rose 4.1% from a year earlier to $426,900, an all-time high, and up 51% from five years ago.
Schedule, Location for Rental Housing Board Could Change
The Pasadena Rental Housing Board will consider a resolution on Wednesday changing its regular meeting schedule and location. A proposed resolution for the July 24 meeting showed the Board plans to consider establishing new dates, times, and location for its regular sessions. If approved, the PRHB will set meetings for the first and third Thursdays of each month at 6 p.m. The new schedule would take effect on Aug. 15.
A Striking Midcentury Time Capsule Is Up for Grabs in Pasadena at $1.6 Million
This one-of-a-kind gem designed by noted modernist architect Lawrence Test is now on the market in Pasadena’s affluent Linda Vista neighborhood, asking a speck over $1.6 million. The listing is held by Brian Linder with The Value Of Architecture at Compass.This $3.2 Million Home in the U.K. Was Built Into a Rainforest Overlooking the Coast Built for plywood industry executive C.H. “Henry” Hernly way back in the late 1940s and thoughtfully maintained by its second owners for the past 58 years, the single-level residence is essentially original throughout. Think authentic details ranging from oak parquet floors and decorative linoleum paired...
Successful Transaction: Historic 612 S. Broadway sold for $16M
The historic building at 612 S. Broadway was sold for $16 million, according to Cushman & Wakefield. The sale of the 80,000-square-foot landmark in DTLA’s historic core was brokered by the Cushman & Wakefield team of Mike Condon Jr., Erica Finck, Reid Gratsch, Brittany Winn, and Kylie Rawn, in partnership with Mark Zakarian.
Coldwell Banker Brokers $33.7M Sale of Seville Gardens Active Adult Community in Huntington Park, California
HUNTINGTON PARK, Calif. — Coldwell Banker Commercial West has arranged the sale of Seville Gardens Apartment Community, a seniors housing property located at 2701 Randolph St. in Huntington Park. Seville Gardens LLC sold the asset to Equity Consultants Equity Inc. for $33.7 million. The buyer plans to maintain the...
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