The COVID-19 pandemic has cooled Los Angeles’ once-hot rental market. In December, median one-bedroom rents fell 13.3 percent over the same period last year, dipping below $2,000 for the first time since 2016.
Waning demand for new luxury rentals has caused many property management companies to slash their prices and offer move-in specials to prospective tenants. If you’re looking to upgrade your digs while saving a little cash, check out these four apartment complexes with enticing incentives.
If you’re on the hunt for a pet-friendly apartment with state-of-the-art amenities, look no further than LA Plaza Village. This mixed-use development offers onsite retail, dining, cultural and residential spaces. Choose from studio, one-, two- and three-bedroom units with keyless entry, hard surface flooring, custom barn doors, stainless steel appliances and in-suite laundry. LA Plaza Village is located in Chinatown, an eclectic neighborhood celebrated for its must-try restaurants, contemporary art galleries and easy Metro access.
Incentive: 8 weeks free rent, complimentary 300 MBPS internet
Priced from: $6,100 per month
Walking distance from Brentwood’s bustling San Vicente corridor is Rêve, an upscale collection of three- and four-bedroom apartments. The residence is kitted out with the latest smart features, including a ButterflyMX intercom system, Nest programmable thermostats, Lutron light and shade controls, and MIWA electronic door locks. While the community touts a well-equipped fitness center of its own, developer Helio also has a partnership with Equinox, offering residents reduced membership rates.
3. 400 Catalina
Developer: Moss & Company
Incentive: 4 to 6 weeks free rent on most apartments
Priced from: $1,995 per month
400 Catalina is located in the heart of Koreatown, just an 11-minute walk from the Wilshire/Vermont Metro station. There are currently two studio apartments available for rent, ranging from 518 to 614 square feet. The latter unit, Studio D, boasts a private balcony but both residences come complete with wood-look flooring, central air conditioning, stainless steel appliances and in-suite laundry. Among the community amenities are a courtyard atrium, fitness center, clubhouse, business center and rooftop terraces.
Developer: WS Communities
Incentive: 12 weeks free rent, 10 percent bonus special on second month’s rent
Priced from: $2,197
Concourse provides quick connections to Loyola Marymount University, Los Angeles International Airport and Silicon Beach. The spacious residences in this three-building community showcase light-filled interiors, high-end finishes and advanced appliances. Available floorplans range from an 828-square-foot one-bedroom plus study to a 1,184-square-foot three-bedroom, two-bathroom. There are ample amenities to explore, from an outdoor pool and spa to a co-working space with conference room.
Incentive: 2 months free, $2,500 look-and-lease savings, enter to win free Peleton
Neighborhood: Culver West
Priced from: $2,465
In Culver West, Haven offers studio, one-, two- and three-bedroom apartments with stylish amenities — including a converted Airstream trailer lounge on the rooftop. This expertly curated community also boasts a pool deck, meditation lounge, club room, outdoor courtyard, billiards lounge and wine tasting area, and an enclosed dog run. The apartments are equally chic, with select units featuring floor-to-ceiling windows, marble backsplashes and expansive kitchen islands.