Westchester, like many other neighborhoods in greater Los Angeles, has a busy rental market. Because of this location’s benefits for commuters like access to major roadways, more family-style homes, and good community services, Westchester is often considered as a great place to live by people moving to Los Angeles for their jobs. The other element of the rental market here is the interest by students from Loyola Marymount University and Otis College of Art and Design who are looking to move into off-campus housing.
There are many reasons to choose Westchester to live in that go beyond the ease of the commute, the shopping and the school system. It is also an interesting place to live. Westchester has a couple of fascinating examples of Googie-style architecture conceived by Eldon Davis. This futuristic, science fiction-inspired design can be found in many public structures constructed in the 1940s through the 1960s. In Westchester, Pann’s Restaurant, which is still operating today, is a beautifully preserved example of architectural history. At LAX, the Theme Building has been designated as a cultural and historical monument. Both beautiful and humorous the Theme Building is described as a flying saucer from an old film.
The central business district known as Westchester Town Center is a bustling collection of shops and services. It is a unique area having been revisioned by a group of local business owner’s who wanted to revitalize the economy. Today Westchester Town Center has a mix of restaurants, stores, and medical offices. They have created a healthy local business economy that definitely meets the needs of residents. The Promenade at Howard Hughes Center is a large luxury, outdoor complex of dining and entertainment.
The combination of an influx of high tech professionals and university students has created a competitive rental market in a region already known for its higher than average prices. Short-term rentals have become a significant moneymaker and effective way to maximize return on investment for landlords in recent years. The result is this practice has shrunk the market somewhat for long-term leases. Overall prices in the rental market continue to increase and the need for semi-permanent housing remains.
With the amount of single-family, detached homes in Westchester many
of these come on the market as rentals. It is also common to find units
for rent in single-family homes that were created in order to maximize
the homeowner’s investment potential.
Following a regional trend in the rental market, many of the rental
situations being offered in Westchester including home sharing. A single
bedroom or bedroom with a den is often up for lease in a shared home or
condominium. There are some multi-family apartment buildings and
townhomes but Westchester has a lower inventory of these than in other
sections of Los Angeles. Near LMU a three-bedroom home typically rents
for $3,000 to $4,000 per month. In the upscale neighborhood of Kentwood
rents will be substantially higher running from $3,500 to $8,000. The
higher end homes offer amenities like garden and pool service and
multi-car garages.
For the latest in rental listings in Westchester get in contact with the real estate team at Hartman Cole. They understand the local real estate market and look forward to sharing their knowledge and experience with you.