West Los Feliz · Investors & Rentals
Investing in a West Los Feliz Condo
Rental rules checked building by building, and 1031 exchange timing mapped alongside your CPA.
What does condo investment in West Los Feliz look like?
Condo investment in West Los Feliz means working with small associations. The county's records show seven condo buildings and 67 units, most of them in buildings of 6 to 10 units. Each building has its own CC&Rs, and each sets its own leasing rules. Seven buildings means seven rulebooks to read.
The unit mix is the draw. Most units here run from about 650 to 1,260 square feet, a size range that rents to a wide pool. Two buildings add larger units: Harvard Heights up to 1,680 square feet and the 2017 building on Loma Linda Avenue up to 2,679.
Which rules matter most in these buildings?
Association leasing rules. Some associations cap how many units can be rented at once or set a minimum lease term. In a 6-unit building, one or two rented units can fill a cap. California requires the seller to give you a statement of any rental prohibitions in the governing documents, and we read it with the CC&Rs before you offer.
City rules. The City of Los Angeles has its own rent and short-term rental rules. Which ones apply depends on the specific building and unit. The Kenmore Condos, at 1748 N. Kenmore Avenue, is recorded as a 1964 apartment building later mapped as condos. For any unit, bring the year built and the building's history to the Los Angeles Housing Department, and get its answer before you remove contingencies.
Rule changes. A small association can amend its CC&Rs with few votes. The board minutes show whether a change to leasing is being discussed.
The two exceptions. Harvard Heights, with 21 units, is the one larger association in the area. One rented unit there is a smaller share of the whole, but its CC&Rs still decide. The 2017 building at 5330 Loma Linda Avenue is the newest, and a young association's leasing rules may still be settling. We read the minutes for both.
Small-lot homes. The homes on Kenmore and Alexandria Avenues, from 2015 and 2016, sit on their own lots. Their recorded documents set any shared rules, so an investor comparing one with a condo reads a different set of papers.
How does Rooster Homes™ run an investment purchase?
Rooster Homes™ is a Los Feliz, Los Angeles real estate brokerage owned by Brandon and Sarah Arlington (DRE #02051216). We represent landlords and tenants on leases as well as buyers and sellers, so we read rental rules from both sides.
Screen by rules first. We check which of the seven buildings allow the kind of renting you plan. Then run the numbers. Price, HOA fee, assessments, insurance, property tax, a rent estimate from comparable leases and time between tenants, laid out for each unit. Then write. About 3% goes to escrow as an initial deposit, and Brandon typically writes an inspection period of 7 to 10 days, with the exact number set in each offer.
If a 1031 exchange is part of the plan, your CPA and qualified intermediary set the dates, and we plan around them. The Aligned pillar of our buying method covers the fit between a unit and a rental plan.
What should an investor read before closing?
- The leasing section of the CC&Rs: caps, waiting lists and minimum terms.
- The association's short-term rental rule and the City's own short-term rental rules.
- The reserve study and any special assessment, approved or discussed. An older building's reserves matter as much to your return as the rent does.
- Tenant move-in fees and registration forms, which add cost at every turnover.
- A landlord's condo policy, reviewed by your insurance agent against the master policy.
This describes our general process. It is not legal or tax advice. For your situation, talk with your CPA and your attorney as well.
Read investing in a Los Feliz condo for the full method, the West Los Feliz neighborhood page for the area and our building guides for the facts we gather. Ready to run numbers? Send us a note or call (323) 201-2724.
Frequently Asked Questions
Do West Los Feliz condo buildings allow rentals?
Each of the seven sets its own rules in its CC&Rs. Some associations cap rentals or set minimum lease terms. We read the seller's rental statement and the CC&Rs before you offer and confirm with the association during escrow.
Why does a small building matter to a rental plan?
Because a leasing cap fills fast. In a 6-unit building, one or two rented units can reach a cap. A small association can also change its rules with few votes, so we read the board minutes too.
Which City rules apply to a West Los Feliz condo I rent out?
It depends on the building and the unit. Bring the year built and the building's history to the Los Angeles Housing Department. We point you there and want the answer before you remove contingencies.
West Los Feliz
What investors & rentals looks like in West Los Feliz
The western edge of Los Feliz toward Western Avenue, with small 1960s condo buildings on Edgemont, Kenmore, Normandie and Harvard.
West Los Feliz is the western part of Los Feliz, from Edgemont Street and Normandie Avenue west to Western Avenue, between Hollywood Boulevard and Los Feliz Boulevard. The Los Feliz Neighborhood Council calls it District F. Its condos are mostly small buildings from the 1960s.
- The homes
- 7 condo buildings: six on Edgemont Street, Kenmore Avenue, Normandie Avenue and Harvard Boulevard built from 1962 to 1981, and a newer building on Loma Linda Avenue (2017), plus small-lot homes on Kenmore and Alexandria Avenues.
- Getting around
- Bounded by Hollywood Boulevard on the south, Los Feliz Boulevard on the north and Western Avenue on the west, with Vermont Avenue, Normandie Avenue, Ambrose Avenue and Edgemont Street on the east (Los Feliz Neighborhood Council).
The method
How we do it in West Los Feliz
Investors & Rentals: keep exploring
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