Value-Add Multifamily Properties Outside Los Angeles Downtown Attract Investors
CoStar Group | December 04, 2018
The apartment business has split the city of Los Angles into two very different parts. “It’s a tale of two cities,” says Steve Basham, a senior market analyst in the San Diego office of research firm the CoStar Group. In Downtown Los Angeles, apartment developers are opening thousands of new luxury units in high-rise towers. Property managers now have to offer steep concessions to attract potential renters. “It seems like there is a new tower opening every month,” says Basham.