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| 06/21/2024 In this issue of MarketRent™ powered by Clarendon, we spotlight how Los Angeles, once car-dominated, is shifting towards walkable neighborhoods, significantly impacting the rental market. Areas like Downtown LA, Koreatown, and West Hollywood illustrate how pedestrian-friendly environments command higher rents. Residents value the convenience and reduced need for cars, paying a premium for these benefits. This trend offers opportunities for real estate professionals to develop or improve properties in high-demand areas. Government housing authorities should prioritize walkability in affordable housing projects to ensure easy access to services, promoting healthier, car-free lifestyles for residents. We also share a variety of data tools and visualizations to help you understand the connection between walkability rental prices and development in Los Angeles. |
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| FEATURED South Los Angeles: A Transformation in Progress |
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| Los Angeles's increasing preference for walkable neighborhoods is significantly impacting the rental market, with pedestrian-friendly areas commanding higher rents. Prioritizing walkability is crucial to ensure residents have convenient access to essential services and amenities, promoting healthier lifestyles. Search by zip code to examine the impact of walkability on rental rates in Los Angeles. |
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| RESEARCH Explore: Development in South LA Neighborhoods |
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| Los Angeles, a diverse metropolis with a thriving entertainment industry, has long enticed investors and developers. Recently, South Los Angeles has seen renewed interest in revitalization. Ambitious multifamily housing projects are transforming underutilized lots into modern complexes, attracting professionals, students, and families. Government initiatives, like pedestrian-friendly streetscapes and improved transportation, enhance the area’s appeal. As South LA continues to evolve, it presents promising real estate investment opportunities. |
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| All content is provided herein “as is” and neither Clarendon Valuation Advisors, LLC (“the Company”) nor its affiliated or related entities, nor any person involved in the creation, production and distribution of the content make any warranties, express or implied. The Company does not make any representations regarding the reliability, usefulness, completeness, accuracy, currency nor represent that use of any information provided herein would not infringe on other third party rights. The Company shall not be liable for any direct, indirect or consequential damages to the reader or a third party arising from the use of the information contained herein . © Copyright MarketRent™ | Clarendon. All Rights Reserved. |
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