On average, listings lease in the $30's per square foot per year. The Apartment Row submarket is seeing a a boost in rates. In the last 3 months, the median rate increased $2 per sqft per year. That's a 7% rise in rent.
Compared to the rest of the Metropolitan Los Angeles market, the Apartment Row submarket has smaller rates, so you should have no trouble finding a great deal in this undervalued submarket.
In the last 90 days, 22 listings have been posted online, which means new availabilities most likley are leasing quickly. You'll want to be prepared to make an offer immediately. About 14% of the listings in the Apartment Row are subleases, so you might be able to find a shorter term or below market rent. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 460 sqft. Most buildings in this region are around 2 floors. Most buildings in this region were built in 1971 and are Class C.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Construction is the dominant industry in this region. Commute by walking is the most popular way to get to work amongst Apartment Row occupants. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.
Real time and historical data on commercial real estate listings in Apartment Row.
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