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Tuesday, 03 March 2015 21:28

Is my property subject to rent control?

Question: My property is located in the city of Los Angeles. It was originally built in 1929. It has now been reconstructed as a duplex and a certificate of occupancy was isssued in 1979. My question is whether this property is under rent control?

 

Answer: Since you have obtained a Certificate of Occupancy issued after October 1, 1978 and the configuration of your property has changed, your property would not be subject to rent control. 

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Last modified on Tuesday, 03 March 2015 21:32
Tuesday, 03 March 2015 21:10

Apartment REITs Grow Stronger

More renters meant more profits for multifamily REITs in 2014, which provided tremendous returns to their investors over the last year.

 

"This is clearly a solid time for the whole multifamily REIT sector," says Calvin Schnure, an economist and senior vice president of research and economic analysis for the National Association of Real Estate Investment Trusts (NAREIT). 

 

The outlook for REITs is also good, with demand expected to stay strong for the foresseable future, according to NAREIT, improving demand from investors.

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Last modified on Tuesday, 03 March 2015 21:27

I'm proud to announce that Scotty Weisstein and Nick Simpson have officially joined the Apartment Building Trader team.

 

Scotty has returned after travelling to over 50 nations on his extensive world travel sabbatical. I worked with Scotty over 10 years ago during the early days of our career, and am happy to have him back on the team. His level of focus, and his diverse background in education and the Spanish language are great assets to the team.

 

Nick, a third generation resident of Los Angeles, has focused his career in real estate on the Los Angeles apartment market. With over 10 years experience his goals are to help his clients grow their portfolios, maintain strong relationships and build trust. I am excited to have nick bring his expertise, professionism and vast market knowledge to the team.

 

Both team member's strong work ethic and integrity will be an added valuable asset to the team. I'm looking forward to building on our successes together for many years to come as our team continues to grow!

 

Check out Scotty's and Nick's business profile on our website, and make sure to follow Aptbldgtrader on Twitter and Facebook for our latest news and updates!

 

Thank You!

 

Raymond A. Rodriguez - Founder |  AptBldgTrader Team at KW Commercial

Last modified on Tuesday, 22 December 2015 21:10

Closing Summary

The key to the successful sale of 900 N. Hoover was our Team's strong relationship with the most qualified buyer in the marketplace for such a unique asset.

 

The Seller, having previously listed the property with a completing national brokerage, had experienced disappointing results and no sale. Aware of our team's track record and our effective approach to apartment sales, the Seller allowed us to put our intimate market knowledge and our extensive network of investor relationships to work on his behalf. 

 

In less than two weeks, Buyer and Seller were under contract with removal of contingencies and release of funds.

 

The property closed escrow at $2,075,000, the Seller's target value. The Buyer is working toward capitalizing on the property's upside.

 

Property Highlights

Non rent controlled per owner | Re-purposed historic Church | Loft style tri-level apartments | Copper plumbing | Potential upside in current rents

Thinking of selling?

Call us to sell your apartment building! 

From fast, direct offers from motivated and qualified buyers, to detailed listing and marketing proposals, we provide customized solutions to suit your precise needs.

We take a professional, full-service approach in representing you in the sale of your property, and we look forward to earning your business!

Last modified on Saturday, 28 February 2015 00:00
Thursday, 19 February 2015 00:39

Market Watch - February 2015

The market reached a bottom on February 2nd 2015 at 1.67% (10 yr treasury) and bounced off sharply and is now at 2.07% percent yield with the next resistance of 2.30 on the horizon.

 

Based on the market's current climate, it appears that interest rates are on a clear path upwards. However, as we learned last year, we live in an interconnected planet where geopolitical issues govern the market trend. Advice: While it's likely that geopolitics will occasionally muddy the waters, bet on rising interest rates and lock those loans in now. 

 

By: Gill Figueroa, First Commercial Capital

Last modified on Saturday, 21 February 2015 01:01
Wednesday, 24 December 2014 23:09

Market Watch - December 2014

The current 10 year Treasury Bond Yields have hit new floor at 2.07% on December 17th. On the horizon is a year-end market rally which typically indicates higher rates this previous forecast has mateialized current yield of 2.257. The strongest indicators for the continuation of a sub 3% 10 year treaury remain the weak economies of Japan, Europe and due to oil's current plummet now Russia joins the ranks of weak economies.

 

Conversely, the capital infusion from these weaker countries seeking tangible investments will create a stronger and more competitive domestic marketplace that will support and substantiate higher rates overall. In our real estate market, the disconnect will occur when sellers continue to raise prices despite compressed cash flow margins due to higher interest rates. Hence sellers need to re-evaluate their positions.

 

By: Gill Figueroa, First Commercial Capital

Last modified on Friday, 26 December 2014 21:12
Saturday, 06 December 2014 00:45

Do or Die Due Diligence

The due diligence process is one of the most important, yet challenging aspects of investing in real estate. If it's not conducted thoroughly with a keen eye, an investor could end up with bad deals and lose millions of dollars, warns Andre Cuadrado, Vice President at Auction.com.

 

"Due diligence is the process of discovering the real truth about an investment," Cuadrado explains. "The investor must be a sleuth and go through everything with a finetooth comb. Every dollar must be accounted for, and every single risk must be identified." 

 

When it comes to commercial real estate, there are three forms of due diligence: financial, legal, and physical. Smart investors pay careful attention to all three, Cuadrado says. The act of performing due diligence - the process itself - should not be confused with due diligence documentation.

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Last modified on Saturday, 06 December 2014 01:03

Question: I have a rent controlled unit in Los Angeles. The tenant is on a one-year lease which will expire at the end of the next month. I have had trouble with the tenant in the past and I really do not want to extend the tenancy. What is the proper format to inform the tenant that I will not be renewing and that she must vacate at the end of the lease term?

 

Answer: Sorry to inform you, but since this is a rent controlled unit, you cannot just terminate the tenancy at the end of the lease term. The tenancy cannot be terminated unless you have good cause, as enumerated by the Los Angeles Rent Stabilization Ordinance. In effect, every tenancy becomes a life estate under the rent control statute. With this in mind, landlords should screen their applicants very carefully.

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Last modified on Tuesday, 02 December 2014 20:04
Wednesday, 19 November 2014 18:08

Market Watch - November 2014

The current 10 year Treasury Bond Yields have hit new floor at 2.32%. Keep in mind this was the previous 4 month resistance level and the market is likely to now bounce from this higher yield. On the horizon is a year-end market rally which typically indicates higher rates. The strongest indicators for the continuation of a sub 3% 10 year treasury remain the weak economies of Japan and Europe.

 

Conversely, the capital infusion from these weaker countries seekig tangible investments will create a stronger and more competitive domestic marketplace that will support and substantiate higher rates overall.

 

In our real estate market, the disconnect will occur when sellers continue to raise prices despite compressed cash flow margins due to higher interest rates. Hence sellers need to re-evaluate their positions.

 

By: Gill Figueroa, First Commercial Capital

Last modified on Wednesday, 19 November 2014 19:53

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Harma Hartouni thanks our Agent Partners. Core Vendors and Clients for their support and loyalty in making Keller Williams Calabasas the fastest growing office. 

 

We are your friends, neighbors, and agents. Together we service our community!

 

Established! Strong! Growing!

Last modified on Thursday, 13 November 2014 22:12
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