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LA rent control building: $4M listing, $289/month 3BR

Rent roll so broken it made it to escrow anyway. A landlord trying to sell a building where existing tenants are locked in at Depression-era prices, and one three-bedroom is pulling in $289 a month. This is what happens when you stack decades of rent control over actual market reality. The buyout conversation for that unit must be apocalyptic.
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x.com Economy

Rent-controlled LA property reveals the brutal math of tenant protection versus property valuation.

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x.com