IET Real Estate Los Angeles Blog

Los Angeles Awarded $99 Million Grant for Four New Affordable Housing Projects

On August 31st, Los Angeles Mayor Karen Bass announced that a state program awarded the city a $99 million grant for four new affordable housing projects. This monumental funding was made possible through the Strategic Growth Council, a government entity that collaborates with various public agencies to tackle economic, health, transportation, and other vital issues.

The grant is part of the Affordable Housing and Sustainable Communities Program, a flagship initiative that consistently provides funds to the Los Angeles Housing Department. This year the program is contributing a total of $157 million to the city of Los Angeles, with $99 million dedicated to creating 466 affordable units in Downtown L.A., Koreatown, Crenshaw, and Historic South…

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Market Report: Duplexes in Los Angeles East Side Neighborhoods

Today's blog post marks the beginning of a new series we'll be doing where we'll tell you everything you need to know about duplexes in Los Angeles. We're choosing to shine a spotlight on this type of property because although they're sometimes overlooked as an option, they can be the ideal choice for prospective owners, investors, and renters. These properties are less expensive than a single-family home, so they're great for the renter or owner who wants the feeling of an SFR, but can't quite afford that yet.  If you're considering getting into real estate investing, starting off with a duplex is a great way to get your feet wet without taking on the responsibility of a multi-unit building.

Los Angeles has an abundance of duplexes throughout the…

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Holiday Season 2020: Shop Small at One of The 6 Best East Hollywood Area Gift Shops

The long-awaited East Hollywood Target has finally opened and just in time for holiday shopping. But, as convenient as it may be, it’s more important than ever to spend your money at small businesses as you shop for gifts. 

With little coronavirus relief money from the government to go around, many of these mom and pop shops are at risk of closing. Target might have everything you need in one place, but these local retail stores are what gives a community character. So before you make your gift list, consider supporting some of these East Hollywood area small business retailers. 

1. Spitfire Girl

1939-1/2 Hillhurst Ave. 

No matter your budget, you can knock out most of your holiday shopping at Spitfire Girl which has something for…

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East Hollywood Market Report

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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5 Best Happy Hours on LA's East Side

Want to get an early drink and a snack but can't find an open reservation at a nice restaurant? Then find a seat at the bar and take advantage of one of these 5 great happy hour deals on the east side of Los Angeles. Because the only thing that tastes better than a crisp glass of white wine after a long day at work is one that you bought at a discount!

1. Atrium 

Everyday 4PM-6PM Daily

The happy hour at this beautiful restaurant in Los Feliz is the perfect place to go for date night. It's steps away from The Los Feliz 3 movie theater and a very short drive to The Greek if you have tickets to a concert. They have an extensive HH menu including food, cocktails, and wine. The crispy BBQ dusted fingerling potatoes with french onion dip is to die…

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Valentine's Day Shopping Guide for the East Side of Los Angeles

Valentine's Day is only about a week and a half away, so it's time to start thinking about what you'll get the partner in your life. Instead of running to the Americana at the last minute, consider supporting one of the many small businesses that populate the east side of Los Angeles. 

No matter what your budget, you can find something that will fit the personality of your sweetheart in a locally owned shop. Your significant other will love that you got something special and that you gave your business to someone in the community. 

Not sure where to start your Valentine's Day gift search? You can start by strolling the shops on Vermont Ave in Los Feliz or Sunset Boulevard in Silver Lake and Echo Park. Atwater Village is also a great place to find…

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New California ADU Laws and Their Affect on the LA Housing Crisis

Every Angelino knows that the city is experiencing a housing crisis with seemingly no end in sight. The opinions vary on who’s at fault and what can be done to fix it. But either way, home buyers and renters can agree that something has to change.

Luckily, in 2019, California lawmakers passed new legislation regarding additional dwelling units (ADU’s) that could help alleviate the affordable housing shortage. 

Keep reading to learn more about ADU’s, the new rules that took effect in 2020, and what it means for Los Angeles. 

What are Additional Dwelling Units or ADU’s?

If you’ve never heard the term ADU, you’re probably familiar with one of its colloquial names: in-law suite, granny flat, guest house, backyard bungalow… 

They all describe…

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Los Angeles Cracks Down on Airbnb Hosts

This Tuesday, December 11, Los Angeles City Council unanimously passed a long-awaited and much discussed ordinance regulating short-term rentals, also known as home-sharing. Slated to go into effect on July 1, 2019, the ordinance bans rent-controlled units and non-primary residences from participating in home-sharing. The regulations will apply to the entire city of Los Angeles, including Venice, one of the city’s most popular vacation destinations. This is the city’s first attempt to legalize and simultaneously crack down on short-term rentals, which many critics say contribute to the housing crisis. Many who host on Airbnb have been vocal about how much they rely on the extra income to stay in their homes.

 What you need to know:

• Hosts will…

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Home-Sharing Ordinance Draft Passes PLUM Committee, Anticipated to Take Effect in July 2019

After 3 years of debate, Los Angeles City Council Planning and Land Use Management committee approved a draft ordinance on December 4, 2018, pushing forward a proposed regulatory structure for home-sharing platforms such as Airbnb and HomeAway. Los Angeles currently has no enforced regulatory system for how residents home-share.

The committee's approval of the full ordinance means that the full City Council could vote on it soon and work out the smaller details in the future. The ordinance would not take effect until July 1, 2019, or until a separate ordinance regulating non-primary residences is passed.

The draft ordinance that went before the PLUM Committee on Tuesday would allow qualified hosts to rent year-round (in a program called “extended”…

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Home Sharing Ordinance Inches Toward Full City Council Vote

Believe it or not, Home-Sharing aka Vacation Rentals aka Airbnb is technically illegal in Los Angeles. It seems everyone has done it, or has friends or family who has; whether they host or travel. For the past few years, the Los Angeles City Council has been waiting to vote on a controversial ordinance with rules and regulations about who can home share, how they can do it, and what they have to pay in order to stay compliant. On Tuesday, November 6, the Planning and Land Use Management Committee heard comments from critics and advocates of this politicized ordinance for the sixth time since the motion was introduced in December 2014.

While the November 6 meeting drew numbers for another issue on the PLUM Meeting Agenda, the City Hall's hallways were…

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