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Rent is Too Damn High: 90048 is #2 in CA and #6 in US

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90048 Zip Code

Among the top 10 most expensive ZIP Codes for rent in the United States, 3 are in California, split between two in Los Angeles/West Hollywood and one in San Francisco. The Top 10 in the study by RentCafe is filled out by Manhattan. In fact, the Top 50 is almost exclusively made up of these areas with only a handful of zip codes in Boston making the list.

The most-coveted locations for high-paying jobs and endless opportunities, New York City and California grab the most spots in the top 50 as priciest places to live in the U.S. Out of the 50 most expensive ZIP Codes, 28 are in New York City, with 26 in Manhattan and one each in Queens and Brooklyn. The ranking is completed by 18 California ZIP codes and 4 ZIP codes from Boston.

California’s highest rents are in ZIP Codes across Los Angeles, West Hollywood, San Francisco, Corte Madera, Redwood City, Culver City, Menlo Park, San Mateo, Mountain View, Marina Del Rey, Santa Monica, Cupertino and Sunnyvale, California apartments aren’t too far behind those in New York.

The most expensive ZIP Code outside of NYC is LA’s Westwood 90024, ranked fourth with an average rent of $4,944. In fifth place nationwide is Los Angeles ZIP Code 90048, covering parts of West Hollywood and Beverly Grove. It went up seven places compared to last year, seeing a 3.7% increase in average rent, reaching $4,896 per month.

Meanwhile, in San Francisco, 94105 is the highest-priced ZIP Code for renting, ranking sixth nationally. The area covering East Cut/Rincon Hill has an average apartment rent of $4,858 per month.

Boston is the only city outside of California and New York to make the top 50 list, with four ZIP Codes. The priciest rents are in 02210 in Boston’s Seaport District/West Broadway area, with an average apartment rent above $4,000, ranked 32 in the country. Boston also ranks 36, 39 and 40 with ZIP Codes 02111, 02116, and 02114, respectively.

For the full list, check out RentCafe.com

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Apartments

LA Tenants Union Puts Repealing the Ellis Act on the Table

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LA Tenants Union puts repealing the Ellis Act on the table

LOS ANGELES (Knock.LA) — They’ve gotten commitments from Senator Maria Elena Durazo and Assemblymember Wendy Carrillo — but from the latter only in private.

Demonstrators outside of Assemblymember Wendy Carrillo’s office on Sunset Boulevard, crossing out her name on a banner because her office refused to give a public statement in support of repealing the Ellis Act. “The Ellis Act is a racist act,” they chanted.

In the final action of their week-long Days of Rage, on Monday afternoon dozens of members of the Vermont y Beverly (VyBe) Local of the Los Angeles Tenants Union (LATU) led a demonstration calling on their state representatives to repeal the Ellis Act.

The prime target of this protest was California State Assemblymember Wendy Carrillo — but it wasn’t intended to be that way. VyBe had previously held […]

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Apartments

Businesses Relocate in Advance of Sunset Blvd Development in Hollywood

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Businesses Relocate in Advance of 6200 Sunset Development

HOLLYWOOD (Urbanize LA) — Across the street from the kitschy Gower Gulch shopping center in Hollywood, the first signs of work on a mixed-use building at 6200 Sunset Boulevard have started to appear.

In recent months, a cluster of businesses at the southwest corner of Sunset Boulevard and El Centro Avenue have vacated the premises – making way for a residential-retail development from the Houston-based Hanover Company .

Approved plans call for the construction of a seven-story edifice containing 270 studio, one-, and two-bedroom apartments atop 12,000 square feet of ground-floor retail and a two-level, 361-car basement parking garage.

The project, designed by Steinberg Hart, is depicted as a contemporary podium-type building – similar to other nearby projects – clad with a combination of plaster, metal, and stone tiles. Architectural plans show […]

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Apartments

Crescent Heights Building Sells for $856,000 per Apartment

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Multifamily WeHo Site Brings $21 Million

WEST HOLLYWOOD (LA Business Journal) — L.A.-based Roka Properties acquired the Element WeHo, a multifamily property in West Hollywood, for $20.6 million.

The seller was a New York-based investor which had acquired the property in 2015 for $8.9 million and renovated 22 of the 24 apartments. Updates included new doors, windows, in-unit washer-dryer additions and stone slab counters.

The 24-unit Element WeHo property is located at 1425 N. Crescent Heights Blvd. It was 90% leased at the time of the sale.

“At $856,000 per unit, the sale of Element WeHo represents a record achieved in West Hollywood for a property of its size and vintage,” Tresp said in a […]

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