Pandemic brings L.A. rent down, with some big drops in luxury buildings

Local news
A luxury apartment building in downtown Los Angeles is shown in this undated photo. (Kent Nishimura /Los Angeles Times)

A luxury apartment building in downtown Los Angeles is shown in this undated photo. (Kent Nishimura /Los Angeles Times)

The coronavirus economic downturn is bringing rent down in major cities across the country, including Los Angeles, as landlords seek to fill rising vacancies by trimming prices.

In downtown Los Angeles, rent for a 566-square-foot one-bedroom at the Eighth and Grand luxury apartments in downtown Los Angeles would have set you back at least $2,286 at the end of January, according to a listing on Zillow.

As of Thursday, the same sized unit at the building with a Whole Foods on the ground floor was advertised for as low as $1,771.

A few blocks away, at another luxury building, monthly rent for the cheapest 1,284-square-foot three bedroom has come down $385 to $3,870. Walk a bit more and you’ll find more discounts, often with extra goodies like two months free.

Read the full story on LATimes.com.

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