Spent a bunch of time yesterday arranging an AirBnB for my parents, who are coming to LA for six weeks this spring. What does this have to do with a multifamily blog? A lot. The pricing for stand-alone, decent 1/1 – 2/1 houses is in Silver Lake is basically $3500-4000 / month. That compares with
We’re just beginning leasing on 3100 London, the largest project ever undertaken by Adaptive. This one was a bear. Among other things, we upped the unit count from 24 to 27, totally reconfigured all the units, re-vamped most of the entrances, constructed private outdoor spaces for all the units and resolved a majorly painful situation
From the “This Ain’t Just Capital Deployment” files: What did you do at your job yesterday? Me? Oh, I negotiated and then personally oversaw voluntary move-out by a guy who had been arrested for threatening his neighbors with an ax. Of course, I brought along two armed guards, plus a crew to help move his
“Hey Jacob. What did we get for the last 2/1 we rented at X?” I think I ask that question of Jacob, who runs our management business, 4-5 times per week. Why? Because we’re constantly recycling the market information we glean from leasing back into our acquisitions underwriting. The go/no go decision on each deal is
Our local artists graced us with yet another of their masterpieces yesterday. You have to be a real genius to destroy your own neighborhood, huh?