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Los Angeles, CA
Built in 2018
- Not only does Eagle Rock's (90041) median income exceed Los Angeles' city median income by almost 40%, it's also over 20% greater than areas like West Hollywood, Palms, and Glendale.
- Perch is being offered to the marketplace at an ideal time as Los Angeles rents have recovered and are anticipated to make their greatest leaps in the next 12 months.
- Boasting an impressive $137,000 average household income, The Perch has attracted affluent residents with the purchasing power to live in a variety of neighborhoods and luxury buildings and have chose
- Over 1,800 Luxury Units to be Taken Offline in the Next 18 Months - Nearby Glendale and Pasadena will see over 1,800 luxury units removed from their limited luxury housing stock in the next 12 months as six luxury communities are converted to middle-income housing. The lack of a healthy pipeline in this region now coupled with the removal of market-rate units will only further limit the leasing options for affluent residents in the area and drive more traffic to Perch.
- Limited Development Pipeline Driving Growth - The luxury multifamily market in the Eastside is extremely under-supplied with only 195 total units delivered over the last 10 years for a region that is more than twice the population of Downtown LA. With just 55 additional units expected to come online by 2022, the market is experiencing a severe supply/demand imbalance that will generate above-average rent growth during the next decade.