General Topics affecting / related to the 1-4 unit Residential Real Estate Market

I wanted to take a second before the holiday season officially kicks off to wish you and yours a Happy Thanksgiving. This year has been full of ups and downs for everyone, but it's a great time of year to focus and appreciate the little wins we've had along the way. Keep that in mind on Thursday morning as you scramble to get the stuffing and cranberry sauce done before your in-laws arrive!

I hope your Thanksgiving is fun, relaxing (as much as it can be), and filled with great food and company. And if you don't celebrate–enjoy the long weekend and stay away from The Grove!

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248 and 252 Branch street are two side-by-side duplexes on separate 6,402 sq ft LARD2 lots (12,804 sq ft total) in Highland Park just North of the popular York Blvd commercial corridor. Thoroughly rehabbed in late 2019, the property is currently grossing a whopping $14,988/month

248 Branch unit mix = Front 4br/3ba & Back 3br/1ba

252 Branch unit mix = Bottom 3br/2.5ba & Top 3br/1ba

There is a 2x car garage on-site +7x uncovered parking spots. 248 1/2 has a private back patio with a planting area. The large lot has room for expansion via ground-up construction or leveraging current ADU laws. Rentals went through significant capital improvements at the end of 2019.

Check out the full listing here! You can also email or call (323) 412-9060 for…

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In just a few short days on June 15th, East Hollywood along with the rest of California will have the go-ahead to completely reopen again. It's been a long 15 months in lockdown, and as we step back out into society you'll notice how much has changed during that time, and IET Real Estate is no exception!

Over the last few months, we've been working on improving our website's look, functionality, and content. It's important to us to provide the best user experience possible and to serve as a trusted source of real estate information and community news. Be sure to click around the new site, bookmark us, and check back often so you can stay up-to-date on what's going on in the East Hollywood market.

If you're looking to buy or sell a home in the…

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The Los Angeles housing market has been booming despite the pandemic, but now that coronavirus cases are surging in the area, you might be wary about moving right now. Although LA County is under lockdown, you're still allowed to tour houses for sale provided that everyone adheres to some precautions set in place by the government. However, once the sale has been made and it's time to move, it's up to you to know how to do so safely. 

Should you risk missing out on this seller's market or stay put for several more months? We can't tell you what's right for you and your family, but we can give you some tips on how to maintain your safety and sanity while moving during Los Angeles's coronavirus spike. 

Plan Ahead and Start Early

Planning ahead…

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Cities throughout California have "pre-sale requirements" you have to meet before you close escrow. Some requirements include inspections or paying a fee, and the specifics vary from city to city. If you're selling your house or thinking of doing so soon, it's important to be aware of your cities requirements. Some places have a very quick turn around time for scheduling inspections, but others can take weeks. Office closures due to coronavirus could make those wait times even longer. If you realize at the last minute that you need to fulfill a requirement to close escrow but the paperwork is going to take too long, you might find yourself having to pay extra for an expedited inspection. 

Not sure if your Southern California city has pre-sale…

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Surprisingly spacious, this 1920s California bungalow duplex has all the history and character you could want in the most prime area of Elysian Heights. This 1,623 square foot, 2-story property sits in the hills above Echo Park, mere steps away from Valerie Confection. It's a short walk to Echo Park Lake, the renowned local restaurants and bars on Sunset Blvd, or an easy drive to Dodger Stadium and Downtown. 

For more details and pictures, check out the complete listing information here! 

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Here are the latest statistics from the East Hollywood neighborhood real estate market. Check back to our blog often to find market reports from other neighborhoods in the Los Angeles area. 

  • The Majority of Single Family Residences in this area are sold as tear-downs for land value to developers to turn into multi-family apartments.
  • There were no active condo or townhomes for sale in East Hollywood as of May 11th, 2020. The Cha Cha Cha development in Virgil Village has completely sold out with the last unit in escrow as of May 5th, 2020, per listing agent Joy Bolger of Compass.
  • Long Term Rental Activity numbers only reflect MLS activity, many rentals are listed and leased without using the MLS via yard signs, Zillow Rental Manager,…

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In 2019, California lawmakers passed legislation making it easier for people to build Additional Dwelling Units (ADU) on their property. While ADU's are an investment of your time and money, they’re more than worth the upfront cost and hassle. 

There are all kinds of benefits to building an ADU. For one, they allow you to keep your aging family members nearby while maintaining some privacy.  They also add instant resale value to your home and renting it out to tenants means thousands of dollars in extra income a month. 

Interested in building one on your property? Then check out this guide to building an ADU in Los Angeles to get a better idea of the process. 

The Basics

Before you jump into building an ADU on your property, you should…

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When looking for a new home in Los Angeles, it's always smart to consider buying in an up-and-coming neighborhood. The cost of a house will be lower, and it will only be a matter of time before the area is bustling with new restaurants, shopping, and entertainment, thus driving up your home's resale value. 

If you're in the market for a place to live or an investment rental property, East Hollywood is the perfect area to look at for these reasons. Not only is the neighborhood growing rapidly, it's also in a great location. You're only moments away from entrances to the 101, about 10 minutes to West Hollywood or Glendale, and you can get away with telling people you live in "Silver Lake adjacent." 

Need more proof that this is a great place to…

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Los Angeles City Hall

This Tuesday, Oct 24th, 2018 a Special Meeting of the Planning and Land Use Management (PLUM) Committee of the Los Angeles City Council convened to hear public comments on the proposed Home-Sharing Ordinance and adjourned without conclusion, again. The meeting was attended by members of the UNITE HERE Local 11, the Los Angeles Vacation Home Rental Alliance, Los Angeles Tenants Union, as well as concerned area landlords and home-share advocates. In the 3 years since the ordinance was proposed, it remains under review.

On June 2, 2015, City Councilmembers Mike Bonin and Herb Wesson first introduced the motion to direct the Department of City Planning to prepare an ordinance governing the use of short-term rentals (a portion of a residential building…

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