Multifamily Investment in L.A. Moves East

Dana S. Brody

The Westside has long been the favored L.A. submarket for investors, but deal flow is growing in L.A.’s eastside markets as investors are finding more value-add and redevelopment opportunities. This isn’t totally surprising, considering eastside neighborhoods are emerging, up-and-coming markets with tremendous demand from renters. However, today, these markets are becoming entry points for investors new to L.A. Asana Partners, a North Carolina-based investor, recently entered the L.A. market with the purchase of The Fig Collection @ Highland Park, a three-property apartment portfolio in Highland Park.

“The Westside is a long established market and there has always been strong demand there,” Dana Brody, SVP at JLL, tells GlobeSt.com. “With that said, as the fundamentals became more and more expensive, both renters and investors sought out new and sometimes more interesting locations to own and live, which led to the resurgence of Echo Park, Silverlake and Highland Park. Over time, we have seen both rents and values on the east side many times being on par with the Westside due to that increased demand and of course the  ‘coolness factor’ that the Eastside commands.”