Here's your rundown of Eastside real estate news.
Housing for homeless
The City and County of Los Angeles are adding nearly 1,500 more apartments and hotel rooms to the Project Homekey program, which provides housing and social services to homeless persons. The 29 properties include buildings in Boyle Heights, East Hollywood and other parts of the city, Urbanize reported.
Apartment construction slows
The greater Los Angeles metropolitan area is gaining only about 11,500 new apartments this year, the lowest gain in five years, according to The Real Deal. Only about 6,500 of these are coming online in the city itself. The United States as a whole, however, is adding more than 400,000 new apartments, the highest number since 1972.
The former site of the House of Spirits on Echo Park Avenue is now being advertised for lease as office/retail space. The proposed yearly rent for the 6,840-square-foot area is $42 per square foot, an annual total of $287,280. The old House of Spirits liquor store was irreparably damaged by fire in December 2018. Its landmark neon sign was moved by Glendale's Museum of Neon Art in 2020 for safekeeping.
At least one commercial tenant is lined up for the newly opened Elinor Apartments, the prominent mixed-use complex at the corner of Hollywood Boulevard and Hillhurst Avenue. A Mendocino Farms Sandwich Market is expected to open late this fall, according to the company's website. A request has also been filed to sell beer and wine at a restaurant with almost 100 indoor and outdoor seats.
The 134-unit residential property at 1800 N. New Hampshire Ave. changed hands last month for $64.3 million, according to Multi-Housing News. Pacific Urban Investors sold the Vue Los Feliz to Alliance Residential Co. for nearly $10 million more than what it paid in 2018.
Architectural Digest chronicles the seven-year progress of a mid-century fixer-upper, including the perils of getting appliances delivered up the hilly neighborhood's notoriously narrow, winding streets. “Remodeling is not for the faint of heart,” co-owner Cassandra Richardson said.
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Real Estate Reductions
This week's discounts include $16,000 off a Monterey Hills condo, a $45,000 cut on an El Sereno 2-bedroom and a $100,000 chop on a Silver Lake Spanish
Eastside Open House
This week's featured open house include:
- Los Feliz Mid-Century With Backyard Garden Oasis
- El Sereno Bungalow for $799,000
- Secluded Highland Park Bungalow
Good luck house hunting!
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Real Estate Listings and News From Our Sponsors
In prime Echo Park here is the perfect urban retreat, a stunning modern by renowned LA architect Barbara Bestor.
In the Joshua Tree Village neighborhood a few blocks to shops and restaurants awaits this stunning, desert dream home!
The latest listings from Tracy Do.
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