Practical 2 bedroom on high floor with harbour views | Rental | Breezy Mansion 清風大廈 Rental Listings (2024)

FAQs

How many bedrooms is best for rental? ›

Three bedrooms are also coveted by two roommates who want an extra room for an office or computer room. Two bedrooms are the next best thing. Two roommates or a couple who want the second bedroom for guests or as an office works well.

Park La Brea was originally developed by MetLife between 1941 and 1950 and has been owned and managed by Prime Residential since 1995.

When it comes to answering that question, there's no universal answer other than, “1 or more”. If you haven't purchased your first rental property yet, start at 1. Regardless of your investment experience, the best answer for you is going to come down to your goals.

Park La Brea operates under the Rent Stabilization Ordinance of the City of Los Angeles. Our local city government controls residents and housing providers interests. Rent increases are decided by the city each year. Currently the allowable increase is 3%.

Of all properties, two bedroom houses currently offer the best rental yield, and if you're in the market for a flat, two bedrooms is also the way to go. However, for one-bed properties, flats outperform houses, though houses again offer better rental yield when you get to three or more bedrooms.

How the One Percent Rule Works. This simple calculation multiplies the purchase price of the property plus any necessary repairs by 1%. The result is a base level of monthly rent. It's also compared to the potential monthly mortgage payment to give the owner a better understanding of the property's monthly cash flow.

The population of Park La Brea is 37596 with 49% males and 51% females, and a median age of 35. 42% of this neighborhood is occupied by families with 35% single-female families, 26% single-male families, and 39% couple families. The average household size in Park La Brea is 1.96, and the average family size is 3.02.

"It's really a very simple decision, and the answer is our business strategy," La Brea Bakery chief commercial officer Christine Prociv told SFGATE. "... We are in the business of creating delicious artisan breads and other baked goods and not the restaurant business."

Park La Brea has abundant outdoor areas with private patios and communal green space within the gated community. Park La Brea is centrally located, walking distance to the NYULA Academic Center, the Original Farmers Market, The Grove, and many grocery stores and restaurants.

The 50% rule or 50 rule in real estate says that half of the gross income generated by a rental property should be allocated to operating expenses when determining profitability. The rule is designed to help investors avoid the mistake of underestimating expenses and overestimating profits.

What is the rule of 72 in rental property? ›

Just take the number 72 and divide it by the interest rate you hope to earn. That number gives you the approximate number of years it will take for your investment to double.

If a property doesn't meet the 1% rule or generate enough cash flow after accounting for expenses under the 50% rule, it may not be a worthwhile investment. Using these metrics, an investor would need five rental properties that meet both the 1% rule and the 50% rule to generate $5,000 per month in retirement income.

Nearby cities such as Downey, Pasadena, Torrance, Burbank, and Glendale have no rent control laws in place. Because people tend to think of the entire area as “L.A.,” they may mistakenly believe they are covered by L.A. rent control.

Local Rent Control Laws

Los Angeles: Rent increases are limited to 8% per annum. However, the limit is 10% if a new roommate moves in. Berkeley: Local laws place a limit on rent prices, parking fees, garbage fees, eviction protocols, and security deposit laws. Hayward: Annual rent increases are limited to 5%.

In late 2019, California became the second state (after Oregon) to pass a statewide rent control law. It covers all multi-family rental units built more than 15 years ago. The state law applies on top of any stricter local ordinances.

Traditional wisdom is that investors prefer one- or two-bedroom properties over studios and larger three-bedroom options.

But, it is a drawback if you are trying to attract more buyers since many will prefer to have more rooms. A home with three bedrooms or more is often a better choice to ensure future resale value.

For a family, at least two bedrooms will suffice, but three rooms are more recommended. If you can afford it, a four-bedroom house is optimal. We say three is better than two because you need to prepare for both girls and boys.