LA City’s Evictions are happening now since 2019

Fascinating New Data Set on LA Evictions Released; Fairfax, Hollywood & DTLA Surge

Given the new rental housing regulations implemented earlier in 2023, the City of LA can now track where evictions are happening. Since Jan 2023, housing providers have been obligated to submit official written notice to LAHD each time that an eviction is filed.

With many of the Covid-era eviction protections now expired, evictions have been on the rise, and City Controller Kenneth Meija has released a new public data set outlining these evictions. You can access the eviction data set here.

Interestingly, the data shows that the Fairfax District, Hollywood and Downtown LA are leading the City in eviction filings. The Fairfax District’s massive Park La Brea apartment complex has become somewhat of a hotspot, with a shocking 2228 eviction notices since Feb in the 90036 zip code alone.

Per the data, LAHD has received 39,677 notices of eviction since Jan 27 of this year.

You can read the full LAist article here.

2nd Judge Recuses Himself from LA’s Mansion Tax Trial

Judge Jospeh Lipner, the 2nd judge to be assigned to the challenge against LA’s new transfer tax, has recused himself from the case. Now Los Angeles Superior Court will have the opportunity to secure a third judge for the legal battle against the city’s highly controversial Mansion Tax.

The reasoning for Judge Lipner’s recusal is that he was formerly a partner with a West LA law firm called Irell & Manella, which represents one of the plaintiffs in this case, Southern California Association of Non-Profit Housing.

The Measure ULA case, Howard Jarvis Taxpayers Association et al vs City of Los Angeles, is a highly anticipated legal challenge against the Mansion Tax, which went into effect earlier this year. The Mansion Tax enforces a massive new transfer tax on all properties sales in the City of LA north of $5M.

You can read the full RealDeal article here.

Weekly Market Activity – Palms, Mar Vista, Westwood & Century City

90024, 90025, 90034, 90064, 90066

8/25/23, Last 7 Days, 4+ Units

New Listings:

1. 11953 Rochester Ave [90025] – 9 Units for $4.4M, $404/SF, $488K / Unit, 4.03% Cap, 16.65 GRM (1958)

   • Mid-century dingbat in West LA. Mix of 2BRs, 1BRs and Studios. 5/11 units already remodeled, including 2 new ADUs.

      

2. 11830 Courtleigh Dr [90066] – 30 Units for $22.3M, $581/SF, $743K / Unit, 4.19% Cap, 16.31 GRM (2019)

   • Beautiful new construction project in Mar Vista. Trophy asset with strong unit mix, high end finishing and rooftop deck.

      

3. 10786 Missouri Ave [90025] – 8 Units for $4.30M, $578/SF, $537K / Unit, 4.05% Cap, 15.93 GRM (1963)

   • Mid-century dingbat in Westwood. 3.6% fixed assumable financing, fixed until Feb 2027.

      

4. 10669 Kinnard Ave [90024] – 4 Units for $2.75M, $502/SF, $687K / Unit (1950)

   • Well-kept 4-Plex in Prime Westwood. Two 2+1 and two large 1+1. Four garages with ADU potential.