In the bustling Los Angeles rental market – with high rents and low vacancy rates – it’s always great to hear about new rental units coming online. Especially if some of them are affordable!
23 new projects of 50+ units were completed last year in the L.A. area, adding 3,782 new apartments to the local rental market. That’s 20% less than in 2014, when 28 large developments (totaling 4,727 units) were completed.
Besides the glitz and glam of upscale projects – like Broadstone Candara or Avant South Park II – some welcoming affordable options also launched last year. Senior veterans can apply for a rental at the Broadwood Terrace, while homeless and low-income households can opt for an apartment at New Pershing or Casa Yonde. Even supersized developments, like One Santa Fe or Eastown, are partially affordable, including 89 and 52 low-priced units, respectively.
To find out which projects brought the most rental units to the market, we turned to Yardi Matrix data and compiled the list of the 10 largest rental developments in The City of Angels in 2015:
#10. Garment Lofts: 77 rental units
Address: 217 East 8th Street, Los Angeles, CA 90014
Rental types: 21 studios, 49 1-bedroom/alcove apartments, 7 penthouses
Property size: 60,990 sq.ft., 11-story building (over 3,624 square feet of retail)
Short description: Fitness center. Spa. 11-story over 3,624 square feet of retail. Views of Downtown Los Angeles. Microwave ovens in all units. Rooftop terrace.
Photo credits: Garment Lofts Official Website
#9. Broadwood Terrace: 89 rental units
Address: 5005 South Main Street, Los Angeles, CA 90037
Rental types: 82 one-bedroom apartments, 7 two-bedroom apartments
Property size: 67,850 sq.ft., three-, four, and five-story building
Short description: Green building – LEED – certified silver. 80 parking spaces. Age restricted. Fully affordable. Business center. Fitness center. Community room. Laundry facilities. Hi-speed internet access. Outdoor patio and garden.
Photo credits: Yardi Matrix
#8. Broadstone Candara: 103 rental units – Check availability
Address: 738 NE Wilcox Avenue, Los Angeles, CA 90038
Rental types: 32 studios, 8 lofts, 30 one-bedroom apartments, 24 two-bedroom apartments, 9 two-bedroom lofts
Property size: 86,439 sq.ft., 3-story building
Short description: Green Building – LEED – Certified Platinum. Outdoor courtyard with custom seating and Wi-Fi. Charge point electric vehicles charging stations. Energy-efficient design. Indoor entertaining bar. Zero-edge poo, poolside kitchenette with two 36” grills. Open-air café. Fitness club. Dog wash and pet salon. 111 parking spaces. 9′ to 2-‘ vaulted ceilings. Gourmet kitchens in two designer color scheme options. Views of the Hollywood Hills, L.A. skyline.
Photo credits: RENTCafe
#7. NMS@La Cienega: 125 rental units
Address: 375 North La Cienega Blvd, Los Angeles, 90048
Rental types: 3 studios, 114 1-bedroom apartments, 8 2-bedroom apartments
Property size: 91,031 sq.ft., 5-story building (first floor includes 7,500 square feet of retail)
Short description: Controlled access. Fitness center. Business center. Clubhouse. Views of Downtown Los Angeles and Hollywood Hills. 225 parking spaces. Additional garage parking available for $125/month. Rooftop terrace. Private balcony/patio in select one- and two-bed units.
Photo credits: NMS La Cienega Facebook Page
#6. Avant South Park II: 193 rental units
Address: 1420 South Figueroa Street, Los Angeles, CA 90015
Rental types: 71 studios, 10 live-work apartments, 94 1-bedroom apartments, 18 2-bedroom apartments
Property size: 141,347 sq.ft., 7-story building (includes parking and 1,200 square feet of retail)
Short description: Electronic keyless entry. Lofty 9′ ceilings. Floor-to-ceiling windows. Views of DTLA. Fitness center. Electric car charging stations. Pet-friendly with dog grooming station. Sundeck and grilling center. Heated pool with sun terrace. Large landscaped decks. 188 parking spaces. Reserved parking garage spaces available for $100/month.
Photo credits: Avant Apartments Facebook Page
#5. The Emerson: 271 rental units
Address: 225 South Grand Avenue, Los Angeles, CA 90012
Rental types: 24 studios, 49 1-bedroom/alcove apartments, 127 1-bedroom apartments, 67 2-bedroom apartments, 4 penthouses
Property size: 243,325 sq.ft., 18-story building (over 5,020 square feet of retail)
Short description: Green Building – LEED – Certified Gold. Architecture by acclaimed Arquitectonica. 24-hr. attended lobby with concierge. Outdoor pool and spa. Penthouse terrace with views. Library and technology lounge. Fitness center with yoga studio and steam room. Media lounge. Smoke-free apartments. Amazing views of DTLA. A gourmet kitchen in every apartment. Partially affordable (56 units are affordable). Covered parking is available for an additional $200/month. 1400 parking spaces.
Photo credits: The Emerson Facebook Page
#4. AVA Little Tokyo: 280 rental units
Address: 236 South Los Angeles Street, Los Angeles, 90012
Rental types: 6 1-bedroom/alcove apartments, 82 1-bedroom apartments, 136 2-bedroom apartments, 7 2-bedroom townhouses/lofts, 39 3-bedroom apartments, 1 4-bedroom apartment
Property size: 285,326 sq.ft., 5- and 6-story building (first floor includes 18,918 square feet of retail)
Short description: Green Building – LEED – Certified Silver. White quartz countertops. Fully-equipped kitchens with Energy Star appliances. Select units feature charging stations, chalkboard walls, downtown views, flexible sliding doors and walls, gear wall. 2-level fitness center. Pool and spa. 3 outdoor courtyards with BBQ and fire pits. 6th-floor deck with skyline views and social bar. Smoke-free community. 420 parking spaces, additional garage parking available for $150/month. Tandem parking available for $100/month.
Photo credits: Avalon Communities – AVA Little Tokyo Official Website
#3. Hanover South Park: 284 rental units
Address: 939 South Hill Street, Los Angeles, CA 90015
Rental types: 12 studios, 3 live-work apartments, 39 1-bedroom/alcove apartments, 148 1-bedroom apartments, 82 2-bedroom apartments
Property size: 238,949 sq.ft., 6-story building (over 12,400 square feet of retail)
Short description: State-of-the-art fitness center. Roof terrace with amazing views. Swimming pool and lounge area. Business center. Clubhouse. Pet-friendly. Theater. Courtyards with BBQ areas. High ceilings, expansive windows. Open-concept kitchens. Luxury bathrooms. Plush carpeting in bedrooms. 478 parking spaces, covered parking available for an additional $150 – 250/month
Photo credits: Hanover South Park Facebook Page
#2. One Santa Fe: 438 rental units
Address: 300 South Santa Fe Avenue, Los Angeles, CA 90012
Rental types: 47 studios, 256 1-bedroom apartments, 107 2-bedroom apartments, 26 2-bedroom townhouses
Property size: 333,462 sq.ft., 5-story building (over 78,620 square feet of retail)
Short description: Designed by world-renowned architect Michael Maltzan. Zero edge salt water pool surrounded by cabanas, BBQ grill,and outdoor dining. Fitness center. Outdoor theater. Resident clubhouse. Gourmet kitchens. Panoramic views. 802 parking spaces. Additional covered parking available for $125 per month. Partially affordable (89 units are affordable).
Photo credits: One Santa Fe Official Website
#1. Eastown: 535 rental units – Check availability
Address: 6201 Hollywood Blvd, Los Angeles, CA 90028
Rental types: 84 studios, 12 1-bedroom/alcove apartments, 317 1-bedroom apartments, 122 2-bedroom apartments
Property size: 456,652 sq.ft., four buildings of 4, 5, and 6 stories (first floor includes 75,000 sq.ft. of retail)
Short description: Green building – LEED – certified gold. 1,339 parking spaces. Spectacular city and hillside views. High 9′ ceilings. Energy efficient in-home washers and dryers. Quartz countertops. Central air conditioning and heating with programmable thermostats. Oversized double pane windows. Tennis court. Rooftop swimming pool and terrace. Partially affordable (52 units are affordable).
Photo credits: Eastown Official Website