/r/LosAngelesRealEstate

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Post Los Angeles Real Estate and Related residential living articles and blog posts here.

/r/LosAngelesRealEstate

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5

Worth it to buy home next to apartment building?

I am recently divorced and just sold my house. I’ve been staying with my parents for now as I have a toddler, and they live in an expensive area. A house is on the market right around the corner from them for significantly less money than any other in their neighborhood, as it is next to an apartment building (2 stories high), and there is also parking/another apartment building behind the house. On the other side of the house is another single family home. I could put in some tall trees so the neighbors wouldn’t be able to see into the backyard. I would love to live a walk (instead of a drive) away from my parents as I am now a single mom, the house would be great for my kid and I for the next 5-7 years, and it’s about the most I can afford right now. But it’s probably not a forever home (would eventually want more space and a bigger yard), and my real estate agent doesn’t like the proximity to the apartment buildings and is very concerned about resale value. What should I do?!

8 Comments
2024/10/31
03:30 UTC

1

I offer a 10% finders fee for mural jobs, if anyone has any leads.

I’ve been doing murals for about 20 years. I’ve been doing it professionally for about the last 10, I’ve got plenty of experience to do any style. I’ve done many large scale projects for real estate developers, property management companies and big corporate businesses. Just looking for any leads anyone might have. Like I said 10% finders fee. Most projects are at least $2,000. Hope to hear from someone! Thanks

7 Comments
2024/10/30
23:08 UTC

0

You n't q golf court, you get a tennis ourt, everbdy gett a tennis court

3 Comments
2024/10/30
18:07 UTC

0

Tools designed for real estate investors and those looking to manage their finances more effectively.

I’ve been looking for tools to get a better grip on real estate and budgeting. I came across some tools that seem pretty helpful for simplifying investment analysis and financial tracking. Thought I’d share what I found here and see if anyone else has used them or has other recommendations.

  • Cashflow Analyzer Pro -  : This one’s designed for analyzing rental property deals, helping investors get a clearer picture of potential returns.
  • Deal Instant Analyzer - : Great for evaluating multiple deals quickly. Looks like a useful option for anyone comparing several properties at once.
  • Full Package: Cashflow Analyzer Pro with Deal Instant Analyzer - : This combo seems comprehensive, covering nearly every factor needed for a detailed property analysis.
  • Airbnb EasyROI - : A short-term rental calculator geared toward Airbnb hosts, aimed at simplifying income and expense projections.
  • Airbnb Portfolio Income and Expense Tracker -  : Meant for hosts or landlords managing various properties—up to 50! It combines Airbnb and traditional rentals, which could save time on financial management.
  • PortfolioMax Tracker - : This tool pulls together all your property info in one dashboard for real-time ROI tracking, ideal for larger portfolios.
  • Income & Expense Tracker  -  : Appears focused on personal budgeting, designed to streamline expense tracking for clarity and control.
  • Rental Multi-Property Income & Expense Tracker - : Looks like a solid choice for landlords managing a handful to dozens of rentals.
  • BRRRR Property Calculator - : A tool tailored to the BRRRR method (Buy, Rehab, Rent, Refinance, Repeat), aiming to simplify the math behind each step.
  • Airbnb vs. Long-Term Rental Comparison -  : This one’s for comparing short- and long-term rental returns side-by-side.
  • Property Flip Calculator - : Provides insights for flipping properties, highlighting potential returns and break-even points.

Tools for Real Estate and Budgeting. Investment Analysis, ROI Calculator, Cash on Cash ROI, CAP rates, Rental Yield, Airbnb and Rental Income Expense Tracker, Real Estate Portfolio ROI Tracking, Real Time ROI, Budgeting, Personal Finance and more.

0 Comments
2024/10/29
04:52 UTC

2

Does adding an ADU add value?

I purchased a house recently in the city of Tarzana. It's not a huge lot only 6500 sqft. The house is 2 stories 2750 sqft. 3 bedrooms upstairs 1 downstairs, a bathroom downstairs. It's in a nice private area with no parking for a person renting really. I don't know how long it'll keep this house because I don't know what will be in the future. I could sell it or rent the house out. There's an option of building a junior ADU utilizing the existing bedroom downstairs and adding about 80 sqft to create a bathroom and small kitchen. If we're living here then it would be good because we can rent it out and get a good rental income but if we were to sell it, would it even add value given that it's a more affluent neighborhood? Or if we were to rent the whole house out, which would most likely be rented out to an affluent person, how would that person receive having that adu rented, or would it even be harder to find someone to rent it for a good price for me?

9 Comments
2024/10/29
01:35 UTC

20

New L.A. County home listings under $1 mil, week of 10-28-2024

New L.A. County SFR, condo/townhome and l istings under $1 million.

I’m here to assist with any questions or real estate needs you may have!

All new listings within the last week.

Two tabs on the spreadsheet, one for Single Family Homes, one for Condos/Townhomes.

Find more details on any listing by simply googling the info or you can copy the listing ID # (AKA: MLS#) and enter it into the search bar in a site like this one.

Meanwhile, need some work done around the house? Check out my list of recommended service providers for home appliance repair and purchase, landscaping, insurance and more.

Good luck and happy hunting, L.A.

7 Comments
2024/10/28
23:33 UTC

1

Looking to convert a detached 4-garage into an adu in la city

It's a triplex where we occupy one of the units, there are 4 small single stall garages in the back, we have control of 2 of them, one tenant uses it to part, the other uses it for storage. There are 4 additional parking spaces behind the triplex and in front of the garages where we and one of the tenants use up 4 spaces. So one tenant will have to part on the street or if they let is convert the front lawn in to parking, they can park there.

I remember reading the California ADU law allows for demolition of garages for ADU conversion, are there any wrinkles about tenants having to give up their two garage spaces? I heard there was a rent reduction requires of 75 to hundreds of dollars depending on (no details), but outside of that I'm flying blind here. I have no problem reducing rent a bit for the loss of the garage space, we'll make that up and then some with the new adu rent.

We don't have the original lease of the tenant upstairs, she's been here the longest and she predates our ownership and the previous owner. I don't know if there is anything about her getting to have a garage as some sort of amenity, but if there was such a thing, could we convert anyway? Any barriers there?

5 Comments
2024/10/28
20:56 UTC

3

Permits needed to rent out house for wedding prep during the day?

Hi all, as the title states, what permits would I need in LA county to rent out my house for wedding preps (aka a place where the bride/groom could get ready before the ceremony) The hours would be from 8am to 3pm the latest with no late nights. Not sure if the home sharing permit is appropriate for this type of thing. Appreciate any guidance in advance!

7 Comments
2024/10/25
22:03 UTC

1

Is Radon common here?

Has anyone tested for radon (professionally, not retail test) when purchasing a new house or have an idea how prevalent rain is in this area?

5 Comments
2024/10/24
04:21 UTC

3

Current LA County unlawful detainer timelines?

Looking to get current unlawful detainer information for LA County. Either from the tenant or landlord perspective.

Has anyone filed an unlawful detainer lawsuit or been served with one? If so, how far out are the courts providing trial dates?

Now if you're a landlord and have won either by default judgment or Plaintiff verdict, what is the currently wait time for the sheriff department to show up and evict?

With the holidays approaching, I imagine the courts will be severely backed up as well so trial dates perhaps won't be scheduled till early next year?

5 Comments
2024/10/23
17:16 UTC

7

Buying our first home

Hello, me and my fiancée are looking to buy our first home. I was lucky enough to be left an inheritance that will be able to buy us a home outright. Since we wouldn’t be having a mortgage, I was curious of how much our monthly costs will be, and what we should prepare for. We want to stay in the San Gabriel valley area, and are expected to buy a home around the $850k price range. I would love for my fiancée to be a stay at home wife, but I want to insure my salary of around 100k will suffice. Thank you!

49 Comments
2024/10/22
13:27 UTC

44

Update Regarding New Home Listings- New L.A. County home listings under $1 mil, week of 9-23-2024

Hi everyone, I’m Tanner Beyer, a local Realtor and fellow Reddit enthusiast! William has graciously invited me to step in and continue the great work he’s been doing for r/LosAngelesRealEstate and I’m excited to play a larger part in this community. I absolutely love helping people find their first homes, and I’m here to assist with any questions or real estate needs you may have!

New L.A. County SFR, condo/townhome and l istings under $1 million.

All new listings within the last week.

Two tabs on the spreadsheet, one for Single Family Homes, one for Condos/Townhomes.

Find more details on any listing by simply googling the info or you can copy the listing ID # (AKA: MLS#) and enter it into the search bar in a site like this one.

Meanwhile, need some work done around the house? Check out my list of recommended service providers for home appliance repair and purchase, landscaping, insurance and more.

Good luck and happy hunting, L.A.

12 Comments
2024/10/22
02:33 UTC

1

What is the best month(s) to list home for sale in Montebello area?

We finally decided to list our SFH home for sale vs rent it out. We are looking for a place closer to our workplaces, and we realize that we need the equity in order to purchase another SFH. We thought about holding onto it and looked at condos, but our family of 5 just couldn’t find a condo we’d be happy in.

Anyhow, I read that May or June is best but wanted to read more insights as well.

I think our plan is to sell our SFH and rent a place. Meanwhile, we’d look to purchase a fixer upper type in Fall/Winter of 2025 and take up to a year (fingers crossed) to renovate it. Final dream home is 3bd/2bth min home (1,500 sq ft min) on 6,000 sq ft min lot in Arcadia, Sierra Madre, Pasadena, Monrovia or Temple City areas. Max budget with reno expenses is $1.4-$1.5 M. Is my idea a pie in the sky dream? Who knows…

13 Comments
2024/10/20
00:10 UTC

40

Prop 33 - View point from UCLA Policy Expert

As an affordable housing developer, I often help members of this group with ADU-related issues, and I think it's important to share my take on Prop 33. I know there's a lot of distrust toward developers, landlords, and real estate agents, but my goal in life is to create housing. I believe the issue of supply is what's truly hurting our city. I also think this group is very well-informed on Prop 33, but this article by Shane Phillips provides great insight into the impact: Why I’m Voting Against Proposition 33.

Prop 33 will directly harm affordable housing by giving cities the ability to implement restrictive rent control policies that will halt new development. This isn't just about developers—capital markets, investors, and lenders will continue to redline California as a hostile place for investment. They won’t fund housing projects where they can't recoup their costs, which will reduce housing supply even further. Pasadena has a prop (PR) to exempt senior and subsidized housing from rent control, understanding that it’s nearly impossible to build under such restrictions.

Rent control might offer short-term relief, but it ignores the core issue: the lack of housing supply. If cities enforce these controls, they will make it much harder to build the new affordable units we need, ultimately worsening the housing crisis. We need policies that incentivize housing production, not ones that make California a risk for investors and developers alike.

73 Comments
2024/10/19
01:19 UTC

5

Residential Studio Noise

Question regarding a loud neighbor:

House A in a nice quiet street in Sherman Oaks. No alley behind house. Shared fence with house B on other side of the block. House B has a converted back house that is turned into/used as a music studio in which loud bass music is played regularly between the hours of 12pm and 10pm. House B resident/owner is in fact a celebrity musician/producer. Because of location, bass music disturbs the peace of the house A residents. House B resident has communicated that they will continue with music until 10pm despite the complaints that house A resident can hear the music in their house and is frustrated.

What realistic recourse is available to mitigate sound?

Note: The sound only affects opposite house. Music neighbor has said they soundproofed the back house. Bass is particularly

7 Comments
2024/10/17
02:52 UTC

2

How do you calculate tax on sale of property to fund nursing home costs?

Our family could no longer care for elderly mother with Altzheimers, so we found a super care facility. However, after draining savings, we had to sell the family home to pay for her care. Dad originally bought the house in 1965. He passed away in 2001, so Mom had drawn up a living trust. There were some changes made to the house over the years. How do we figure out the taxes on the sale of the home please? We are getting mixed answers from the tax preparer and elder care attorney. Thank you!

2 Comments
2024/10/16
07:38 UTC

17

What mortgage rates are you all getting out there? Anything under 6%

15 Comments
2024/10/16
00:34 UTC

0

First time buyer

Hey gang, Im a first time buyer and my budget is max at $700k. So at best a one bedroom in west LA or 2 bedrooms in Sherman oaks area. What I see a lot is great units without in unit washer/dryer. Is this a make or break type of item for a property in thai level? Also Im thinking to rent it out next summer when rental is hot and rent a place myself again (Idc if I live at a place I own or rental - Im single with a dog, so easier to adapt).

Also does in unit washer/dryer matter for rental properties?

Sorry if my questions are dumb but literally first time buying a property.

10 Comments
2024/10/15
19:14 UTC

82

Major Announcement -- The End of the Weekly Lists.

As some of you recall I posted a while back about the future of the lists and the possibility they'd be coming to an end eventually.

Sadly, eventually is today.

I had planned to keep going because my license doesn't expire until May of next year but a number of events coinciding have resulted in my having to make this change now rather than later. It comes down financial considerations--MLS dues, car insurance, etc, etc--lots of things as well as time constraints to keep up on everything in my personal and professional life. And the end result is I just can't afford it anymore, financially or personally.

So I had to make my retirement as a Realtor official and that severs access to the MLS for me and that also unfortunately means my ability to run those lists has come to an end.

I am truly sorry, I know some of you relied on that list, I know you all appreciated it immensely and it was a valuable tool and resource, I appreciate every single comment and PM I ever got that said they were able to get a place or it helped them ion their search. If I could keep doing this forever I would. In my real estate career I worked primarily with first time and low income buyers, it was an absolute joy and I was grateful for every transaction, and posting the lists here gave me great pleasure knowing that it was helping people. Like I said, if I could have done it forever, I would.

But I'm just a guy who needs to make a living and try to have a personal life in between that and I can't afford to do everything. I'm sorry.

I'm really sorry it happened like this, I'm so very sorry it happened so suddenly and dramatically. I wish it could have been different but this is what circumstance dictated so this is how it has to be, unfortunately.

If you're looking for a rental I still suggest visiting a broker site like this you can put in your zip code and select "Rent" and see what MLS listed legitimate rentals are available out there. I will say again reiterate it though never strongly enough to STAY OFF $ILLOW. If you're looking to buy or sell I highly recommend this office, I worked there for almost 15 years so I can say those people are as professional as it gets and will treat you right.

If you're in need of low cost, Section 8, transitional or other affordable housing please check out Housing Rights Center Project Place Rental Listings. That is updated monthly and has no affiliation with me or any other Realtor, they just exist to help people.

Again, I want to express my sincere gratitude and appreciation to all the support and kind words I've received over the years while doing these lists for you guys, it's truly been my honor and joy to help you all, once more please accept my most staggering apologies for the abrupt end to the lists, I hope you'll forgive me and I wish nothing but the best for all of you and all of L.A.

30 Comments
2024/10/12
21:18 UTC

1

HELOC Lenders on Investment Property

Has anyone been successful in obtaining a HELOC or Home Equity loan for their investment condominium? I know that not a lot of lenders are able to do this so if you have done it before, which lender did you use?

3 Comments
2024/10/12
19:11 UTC

10

SJ Mercury News article on flat fee brokerages emerging post NAR

I posted this Mercury News article in the Bay Area reddit over the weekend and it generated a lot of discussion, so curious what folks in SoCal have been seeing on flat fee brokerages.

We've all been wondering how buyer agent commission would change post NAR. This piece ran over the weekend on new services that are emerging for homebuyers that put money back in their pocket. It frankly doesn't make sense to pay 2-3% when you find the home on Zillow.

This article talks about TurboHome a new player along with Shopprop which has been around a while. It looks like both offer services for $5-10K flat fee and give the buyer a credit if the seller is paying for commission. Both companies are Bay Area based, but it looks like they have services available in SoCal as well.

Full article: https://www.mercurynews.com/2024/10/05/now-that-homebuyers-are-on-the-hook-for-paying-agent-commissions-some-ask-is-this-worth-it/

https://preview.redd.it/2se5a2k9m0ud1.jpg?width=1320&format=pjpg&auto=webp&s=e778beb61c3d4bc75af5e76f00fd42e5fcb89629

4 Comments
2024/10/10
23:43 UTC

3

Any recs for a firm that can do a quick Phase I?

If anyone has any cheap (and good!) recs for someone who can turn one around quickly let me know.

3 Comments
2024/10/07
23:53 UTC

33

No List Until October 21

I apologize, everyone. I'm just overwhelmed with work and some personal stuff, nothing serious just a lot going on, minor tech issue here as well, that's this week, next week will be my annual overnight to the OC for Knott's Scary Farm so the long and short of things is it'll be a couple weeks until there's a new list up. Thank you for being supportive and I appreciate your patience and understanding.

4 Comments
2024/10/07
08:02 UTC

4

Existing Garage Office/Studio Unpermitted Question

Hey Guys,

Just bought a house that has a detached garage that was converted into a music studio with some dry wall, carpets and what not. It's not an "ADU", I can't find good info on who I would contact to get retroactive or if I even need permitting in this case since it was used as an office space. Thanks in advance.

4 Comments
2024/10/07
07:28 UTC

1

How would you utilize $400k in investment property equity?

Property is worth 700k. Remaining balance is 285k. SFR just outside DTLA. R2 zoned. Good sized lot. Flexible timeline.

Couple ideas I have so far:

-Add prefab ADU to property
-Buy an out-of-state (NV) multi-family

5 Comments
2024/10/06
18:14 UTC

2

Will a contractor help ballpark a remodeling estimate on a house we're bidding on?

Would I be able to find a contractor to look at a house we're interested in purchasing (don't own it yet), but doing a significant amount of remodeling, in order to get a ballpark estimate of remodeling costs? We're looking at houses, and so far, our best options seem to be finding one that needs upgrades like a redesigned kitchen or adding a bedroom. I'd like to be able to know remodeling costs in a broad range, e.g. $100K-$150K. Are there contractors out there who will come out and consult like that? I'm willing to pay on an hourly basis for their time.

8 Comments
2024/10/06
17:05 UTC

3

Buyer agent commission

Is it reasonable to try to negotiate a 2% Buyer Agent commission rate (vs. 2.5%) with a broker if the property to be purchased (Pasadena area) will be in the $1.3M-1.8M range? Agent has done a considerable amount of work filtering and vetting properties for us to look at - has probably spent 30-40 hours over 6 months doing that, and has arranged one private walk-through so far (We haven't found a property yet and have otherwise only viewed properties at scheduled open houses).

47 Comments
2024/10/06
16:55 UTC

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