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Downtown Adds 54 Percent of County's Apartments in 2010

By Eric Richardson
Published: Thursday, December 02, 2010, at 09:59AM
Historic Core at Dusk Eric Richardson

Downtown will have added nearly 1,800 apartment units by the time 2010 closes, approximately 54 percent of all units opened in Los Angeles County over the year.

Despite that, rents have gone up 0.7 percent since 2009, according to a report released this week by Marcus & Millichap's property research group. Effective rents — asking rents minus incentives — rose 1.2 percent over the year.

Downtown's average asking rent is now $1,342, though that number may leave residents asking where exactly they can find those deals.

For those curious about what's on the market right now, Downtown Center BID's housing tour will visit three rentals (Medici, Title Guarantee and SB Tower) and three for-sale buildings (Rowan, El Dorado and "surprise resale units"). Reservations can be made online.

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