2015-Built -Why I Like it
At $450 Per Square Foot, I'd Rather Buy This Than Build It.

A running log of Los Angeles real estate — what trades, what's listed, what the numbers actually say. Written by David Safai, operator · developer · GC.
At $450 Per Square Foot, I'd Rather Buy This Than Build It.

Been waiting for this trade to close. We finally have another real Palms comp: $291K/door, 5.61% cap, and 10.88 GRM.

"Markets usually offer their best opportunities when pessimism is greatest." — Howard Marks Has Hollywood finally reached that point?

America is rebuilding its manufacturing base, Los Angeles isn't making more industrial land, and owner-users continue to pay a premium for it. This North Hollywood warehouse sale shows why I believe industrial remains one of the best long-term investments in Southern California.

After publishing, the buyer shared that the purchase price was allocated as follows: Retail: $25,000,000. Multifamily: $81,000,000 (approximately $700,000 per unit)

Everyone wants newer apartment buildings in Los Angeles. This sale explains why I like it.

Could thousands of owners be paying property taxes based on values that no longer exist?

An investor's path to an 8–10% cap rate.

Existing apartments at $196/SF. A 6.11% cap on Day One. A path to much stronger cash flow over time. Convince me why building ED1 is a good investment.

After reviewing more than 250 active listings, pending transactions, and recent land sales, clear pricing trends are beginning to emerge. Here's what every builder, investor, property owner, broker, and lender should know.

From Land Purchase to CoO: More Than 6 Years

16 large two-bedroom units offered at 10.5 GRM. I'm watching this one closely to see where it actually trades.

A renovated Marquez Knolls home sold for $6.5 million ($1,857/SF), giving owners, builders, and buyers another comp for what Pacific Palisades homes are worth today.

This 54-unit Lennox apartment community traded for $6.08 million, or $112,500 per unit, at an 8.99 GRM—another useful comp for investors tracking.

An 82-unit, non-RSO apartment building traded for $27.7 million

An 18-unit Hollywood property closed at an 8.8 GRM and broker stated 7.34% cap, giving me another data point for older multifamily product in Hollywood.

The City paid $16.7 million for one of the first completed ED1 projects in West Los Angeles. It may go down as the greatest ED1 trade of all time.

The lot just sold for $1.44 million. I estimate what it could cost to go from vacant land to a completed home and what every owner should know before rebuilding.

From a $682 million assessment to a $150 million sale, Brookfield's 54-story Downtown LA tower shows just how far office values have fallen.

The 15,064-square-foot lot traded for $4.226M - $277/SF, reinforcing strong demand for ocean views.

Yes, it was a church. Yes, it was an owner-user. It's still $89/SF for the land.

This Is Why I Track Every Apartment Sale in Los Angeles.

This 2007-built apartment in one of Los Angeles' best rental markets trades below replacement cost

30,000 units got entitled. Fewer than 5,000 broke ground. Now they're all looking for a buyer

I toured one building in Beverly Hills expecting to analyze a sale. I left thinking this might be where I want to own apartments next.

The nonprofit continues expanding its Hollywood real estate holdings with another apartment acquisition.

Every burned lot that sells tells us a little more about where the Palisades rebuild is headed.

Capital Group buys its own Downtown LA office tower out of a court-appointed sale for $210M, $147.71/SF

"$389K/door for a 2019 West LA building. Can someone bring me a deal like this?"

A Beverly Hills retail center sold for $20.1M, $34.1M just five months later, and then $25.75M less than three years after that. I can't figure out what happened.

When Nobody Will Buy Office, Call the Government

Rick Raymundo sold this 33-unit Valley Village apartment building at a 10.82 GRM.

Tony Azzi closed one of the city's most anticipated apartment sales after a highly leveraged owner was forced to exit.

22 Units. $357K/door. $345/SF.

Woodside Homes acquired the site for $8M and plans to develop a townhome project originally entitled by CIM Group.

Terawatt Infrastructure paid $10.025M for Hollywood land.

A Planned 190-205 unit LIHTC Development with a targeted 2028 groundbreaking date

Samuelian Group, a LIHTC developer, just paid $5.28M for this Silver Lake development site.

Dominick Faraone Confirms 9.57 GRM on Current Rents

Filip Nuculete found a buyer for an ED1 site (Weho Adjacent)

An 11-unit RSO building in Cheviot Hills sells at $182K/door and a 6.7% cap

52 units averaging 1,380 SF at $538K/door

10 units. Broker says 6.46% cap. Let's dive in.

Golden West Food Group sells its Vernon plant in a sale-leaseback, books a strong number.

A 1988-built, 9-unit in East Hollywood

South Central closes at $112,500/door and a 6.79% current CAP.

A 1989 all-2-bed building in Pico-Robertson sells at $389K/door, average unit size 1,350 SF

A 1970-built, 10-unit in Brentwood clears at $4.175M, $425K/door, and a 5.04% cap.

1930 Boyle Heights industrial corridor trades at $241/SF to an owner-user

Post-1979 construction means statewide rent control, not LA RSO

Twelve RSO units in Westwood clear at $441K/door. $324/SF.

Taksa has a huge price reduction

1963 Built with rents below market.
