Check Out the Top 9 Largest Rental Developments Completed in the LA Metro in 2016

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In the booming Los Angeles rental market, with its high rents, it’s always good news when new rental communities appear on the scene. Last year alone no less than 52 communities of 50 or more units opened their doors according to Yardi Matrix data, adding 12,300 new units to the LA Metropolitan Area’s rental stock. This is 3,400 units or 38% more than the 2015 balance of 8,900 new apartments.

The other good news is that with the increasing amount of new apartments comes an even more impressive range of amenities, just to make renters’ heads spin when it comes to choosing their next place to call home.

From communities offering electric car-charging stations and a plethora of other green features to brand new buildings with amenities like rooftop terraces and saltwater swimming pools, we’re bringing you the top 9 biggest rental developments that hit the LA Metro housing market in 2016:

#1. Wakaba LA: 240 rental units

Wakaba Apartments in Los Angeles
Wakaba Apartments in Los Angeles

Completed: Late 2016

Address: 232 East 2nd Street, Los Angeles, CA 90012
Rental types: 51 studios, 100 one-bedroom apartments, 89 two-bedroom apartments
Property size: 207,700 sq.ft., 7-story buildings
Short description: Located at the edge of Downtown Los Angeles, near the Arts District, Wakaba has all that the Historic Core and other destinations within Little Tokyo have to offer within arm’s reach. Accessible through San Pedro Street, its amenities include a rooftop terrace, covered parking, spa, and of course a swimming pool.
Photo credits: RentCafe

#2. Hanover Olympic: 263 rental units

Hanover Olympic Apartments in Los Angeles
Hanover Olympic Apartments in Los Angeles

Completed: Mid 2016

Address: 936 South Olive Street, Los Angeles, CA 90015
Rental types: 41 studios, 156 one-bedroom apartments, 93 two-bedroom apartments
Property size: 226,115sq.ft., 6-story building
Short description: This one offers a range of luxury, eco-green apartments homes right in in Downtown LA. With views of the Downtown Los Angeles cityscape and great access from both Olive Street and Olympic Blvd, it offers amenities like a business center, fitness center, swimming pool, electric charging stations, and even private balconies or patios in select units.
Photo credits: Hanover Olympic Official Website, Yardi Matrix

#3. The Camden: 287 rental units

The Camden Apartments in Hollywood, Los Angeles
The Camden Apartments in Hollywood, Los Angeles

Completed: Mid 2016

Address: 1540 Vine Street, Hollywood, CA 90028
Rental types: 78 studios, 141 one-bedroom apartments, 68 two-bedroom apartments
Property size: 220,443 sq.ft., 5-story building
Short description: These brand-spanking-new studios, one- and two-bedroom apartments are conveniently located on Vine street, offering convenient access to some of the best restaurants, shopping and nightlife that Los Angeles has to throw at you. The amenity-package that includes electric charging stations, rooftop terrace and pool, among others, is complemented by some stunning views of Downtown Los Angeles.
Photo credits: The Camden Official Website, Yardi Matrix

#4. Reata Oakbrook Village: 289 rental units

Reata Oakbrook Village Apartments in Laguna Hills, Los Angeles
Reata Oakbrook Village Apartments in Laguna Hills, Los Angeles

Completed: Mid 2016

Address: 24391 Avenida De La Carlota, Laguna Hills, CA 92653
Rental types: 158 one-bedroom apartments, 131 two-bedroom apartments
Property size: 269,212 sq.ft., 4- and 5- story buildings
Short description: Reata Oakbrook Village is centrally located in the heart of South Orange County, with restaurants, shopping, hiking- and biking trails and amazing amenities right at your front door. Accessible through Interstate 5/San Diego Fwy via Avenida De La Carlota, it offers amenities including a shimmering swimming pool with spa, a modern fitness center, as well as private balconies and patios in some of the units.
Photo credits: Reata Oakbrook Village Official Website, Yardi Matrix

#5. Olive DTLA: 293 rental units

Olive DTLA Apartments in Los Angeles
Olive DTLA Apartments in Los Angeles

Completed: Late 2016

Address: 1243 South Olive Street, Los Angeles, CA 90015
Rental types: 82 studios, 129 one-bedroom apartments, 82 two-bedroom apartments
Property size: 212,835 sq.ft., 6- story building
Short description: With great accessibility from Pico Boulevard, OLiVE DTLA gives you immediate access to everything you need in the modern urban age. Besides the area’s points of interest, a multitude of on-site amenities awaits renters—the package includes a clubhouse, not one but two  swimming pools and just as many spas, covered parking, as well as a rooftop terrace.
Photo credits: Olive DTLA Official Website, Yardi Matrix

#6. Montecito at Villas at Playa Vista: 309 rental units

Montecito at Villas at Playa Vista Apartmennts in Playa Vista, Los Angeles
Montecito at Villas at Playa Vista Apartmennts in Playa Vista, Los Angeles

Completed: Late 2016

Address: 12852 Runway Road, Playa Vista, CA 90094
Rental types: 229 one-bedroom apartments, 80 two-bedroom apartments
Property size: 342,896 sq.ft., 4- and 5- story buildings
Short description: These chic and luxurious new one-and two-bedroom apartments give you access to a range of extraordinary services and amenities. Accessible through Jefferson Boulevard, it offers a state-of-the-art fitness center, as well as a business center, a swimming pool, along with private balconies and patios in some of the units.
Photo credits: Montecito at Villas at Playa Vista Official Website, Yardi Matrix

#7. The Garey Building: 320 rental units

The Garey Building Apartments in Los Angeles
The Garey Building Apartments in Los Angeles

Completed: Mid 2016

Address: 905 East 2nd Street, Los Angeles, CA 90012
Rental types: 8 live-work units, 47 studios, 202 one-bedroom apartments, 63 two-bedroom apartments
Property size: 250,090 sq.ft., 5- story building
Short description: The Garey is a LEED Silver Certified  green building in the heart of LA’s most vibrant neighborhood. With views of Downtown Los Angeles and amenities like clubhouse, swimming pool and spa, this is one truly unique community.
Photo credits: The Garey Building Official Website, Yardi Matrix

#8. Malibu at Villas at Playa Vista: 491 rental units

Malibu at Villas at Playa Vista Apartments in Playa Vista, Los Angeles
Malibu at Villas at Playa Vista Apartments in Playa Vista, Los Angeles

Completed: Mid 2016

Address: 12665 Village Lane, Playa Vista, CA 90094
Rental types: 267 one-bedroom apartments, 210 two-bedroom apartments, 14 three-bedroom apartments
Property size: 509,857 sq.ft., 5- and 6- story buildings
Short description:  Accessible from Jefferson Boulevard, these new apartments have the benefit of direct access to shopping, entertainment and some of the city’s most popular restaurants. Select units have private balconies and/or patios, two swimming pools with spas, a fitness- and a center business center.
Photo credits: Malibu at Villas at Playa Vista Official Website, Yardi Matrix

#9. Sausalito at Villas at Playa Vista: 732 rental units

Sausalito at Villas at Playa Vista Apartments in Playa Vista, Los Angeles
Sausalito at Villas at Playa Vista Apartments in Playa Vista, Los Angeles

Completed: Mid 2016

Address: 12411 Fielding Circle Drive, Playa Vista, CA 90094
Rental types: 506 one-bedroom apartments, 226 two-bedroom apartments
Property size: 683,825 sq.ft., 4- and 5- story buildings
Short description: Sausalito at Villas at Playa Vista features fresh contemporary design and casual interiors, all within walking distance to shopping, dining and nightlife. Community amenities include  covered parking, swimming pool, electric charging stations, rooftop terrace, and more.
Photo credits: Sausalito at Villas at Playa Vista Official Website, Yardi Matrix

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Balazs Szekely, our Senior Creative Writer has a degree in journalism and dynamic career experience spanning radio, print and online media, as well as B2B and B2C copywriting. With extensive experience at several real estate industry publications, he’s well-versed in coworking trends, remote work, lifestyle and health topics. Balazs’ work has been featured in The New York Times, The Washington Post, and The Wall Street Journal, as well as on CBS, CNBC and more. He’s fascinated by photography, winter sports and nature, and, in his free time, you may find him away from home on a city break. You can drop Balazs a line via email.

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