OFFICE PROPERTY SOLD FOR $4,750,000!
U.S. Labor Market Strong at End of 2022
Labor market resilience was underscored by other data on Thursday showing private employers hired far more workers than expected last month. The reports suggested the economy ended 2022 on solid footing, despite a raft of layoffs in the technology industry as well as in interest rate-sensitive sectors like finance and housing. Full Story
INDUSTRIAL PROPERTY SOLD FOR $1,750,000!
MULTIFAMILY PROPERTY SOLD FOR $3,400,000!
MULTIFAMILY PROPERTY FOR SALE $1,325,000
Five (5) units; small multifamily property available just north of Adams Hill; the property consists of one (1) 3 bedroom/1 bathroom house, one (1) 1 bedroom/1 bathroom, three (3) studios (one of which is in a detached structure) and an unpermitted unit in a converted garage; significant amount of upside in rental income; the interior of the detached studio has been completely demolished and is ready to be rebuilt; great opportunity to improve and reposition the entire property; 2,958 square feet of building on 7,550 square feet of land; built in 1912/1923; 1 tandem parking space; please do not go on the property or disturb the tenants; submit offer subject to inspection. For more information, contact Randy Stevenson x155 or Kris Hons x127 at (818) 956-7001. Randy Stevenson DRE #: 01228475. Kris Hons DRE #: 01807261. Stevenson Real Estate Services DRE #: 00983560. Download Brochure.
COMMERCIAL PROPERTY SOLD FOR $1,150,000!
1748 Victory Boulevard
Glendale, CA 91201
Patrick Long represented the buyer in the sale of this rare, freestanding 1,800 square foot commercial building on 2,460 square feet of land. Previously used as a recording and photo studio, the property was purchased by an owner/user with plans to convert the space to office. The property is located in the Riverside Rancho district adjacent to Burbank and minutes away from the 5 & 134 freeways. For more information, contact Patrick Long at (818) 956-7001 x134. Patrick Long DRE #: 01831830. Stevenson Real Estate Services DRE #: 00983560.
Fed raises interest rates half a point to highest level in 15 years
The Federal Open Market Committee voted to boost the overnight borrowing rate half a percentage point, taking it to a targeted range between 4.25% and 4.5%. Full Story
CONSUMER PRICES ROSE LESS THAN EXPECTED IN NOVEMBER, UP 7.1% FROM A YEAR AGO
The consumer price index rose just 0.1% from the previous month, and increased 7.1% from a year ago, compared with respective estimates of 0.3% and 7.3%. Full Story.
Fed Chair Powell says smaller interest rate hikes could start in December
But he cautioned that monetary policy is likely to stay restrictive for some time until real signs of progress emerge on inflation. Full Story
Attention Property Owners: Los Angeles and Santa Monica Approve ‘Mansion Tax’ Ballot Measures, Increasing Transfer Taxes on Sales Valued at $5 Million or More
Measure ULA takes effect on April 1, 2023. Under Measure ULA, there will be an additional “Homelessness and Housing Solutions Tax,” when the consideration or value of the interest or property conveyed (irrespective of any lien encumbrances) in the City of Los Angeles exceeds $5 million. Full story