Today, I want to talk about windows. Still here? Good. Windows are a controversial part of the repositioning process. Replacing them is pretty expensive (on the order to $400-500 / window) and, while new windows open / close easily and look nice, no one ever rented an apartment because of the windows. Still, we intend … Continue reading “Some thoughts on windows (zzzzz….)”
Author: Moses Kagan
Some indications that ride sharing may be reducing car ownership
BL, a reader of this blog, sent me an interesting article yesterday about the interaction between Uber/Lyft use and car ownership. Regular readers know I regard ride sharing as a major force that will re-shape the nature of in-fill real estate development. If you’re just joining us: As the price of ride sharing falls (which … Continue reading “Some indications that ride sharing may be reducing car ownership”
A tough loss
Just lost out on a deal that I wanted to do, despite being the highest bidder. So, how did I lose? Well, this was a development deal. And the land was super-hilly. So I wanted to have five days to get a geologist, an engineer and an architect out to take a look at the site … Continue reading “A tough loss”
The rebirth of rooming houses?
Today’s Wall Street Journal has an interesting article [subscription required] on the re-birth of boarding houses [h/t to Manoj]. Back around the turn of the 20th century, as immigrants flooded into major cities, developers built rooming houses where you could rent very small accommodations, often with share bathrooms. Eventually, zoning codes halted the construction of this … Continue reading “The rebirth of rooming houses?”
363 S Leslie Way is done
We just entered lease-up on a fourplex we renovated at 363 S Leslie Way in Highland Park. Embarrassingly, we had to put the breaks on leasing this weekend, because we leased two of the units in about two minutes and realized we were underpriced. (This is a high class problem!) Anyway, here are some amateur … Continue reading “363 S Leslie Way is done”
Forget about high paying jobs
I’m a closet Redditor (guess I’m out of the closet now, huh?). And today I saw a popular piece on there titled something like “The 10 Highest Paying Jobs”. I get why people are interested in a piece like that, but they’re totally, utterly crazy. Why? With a few exceptions (almost all of which are in … Continue reading “Forget about high paying jobs”
A savvy deal I couldn’t do
Just got a flyer from a reasonably active local broker announcing a deal he closed with the following characteristics: In Westlake, a rapidly improving neighborhood situation between Koreantown and Downtown 10 units totaling 9,800 sq ft 15,000+ sq ft lot R4 zoning $1.8MM price The flyer didn’t specify the rents, but, as I recall, the … Continue reading “A savvy deal I couldn’t do”
One way the Fire Department raises rents in LA
Today, I want to talk about one of the unacknowledged factors driving up the cost of housing in LA: The fire code. Now, it’s obvious why we need the Fire Department to weigh in on the design of new buildings. The department is going to have to rescue the inhabitants in the event of a fire and it obviously … Continue reading “One way the Fire Department raises rents in LA”
1129-1135 N Virgil coming right along
Thought you’d appreciate seeing some progress photos from a project we have going at 1129-1135 N Virgil, right by Sunset Junction. It’s a complex of three duplexes and a single family home, all with parking and private outdoor space. When we started in our business, Hoover was definitely the western boundary of Silver Lake. These … Continue reading “1129-1135 N Virgil coming right along”
Losing a good deal to make a better track record
Am looking at a deal now that has an interesting problem: While ZIMAS and the county both show 12 units, the certificate of occupancy shows 11 units. The building only has 11 parking spaces, so it was pretty clearly built as 11, with the final unit added at some point along the way, most likely illegally. … Continue reading “Losing a good deal to make a better track record”