Exploring Downtown Los Angeles in 2021

 

Steven Taylor LA skyline

Los Angeles is one of the most well-known cities in the world. The majority probably have an idea of it—the abundance of beaches, theme parks, nightlife, the warm weather, walk of fame, and of course, Hollywood. If anything, it sounds too good to be true but when people travel or move to Los Angeles, they quickly realize how precise those assumptions are. Living here may sound like a dream which is why it has constantly been one of the fastest-growing cities in California since 2010. Moreover, the nicknames for this city aligns with its raw elements—“City of Angels” because Los Angeles means “the angels” in Spanish, “City of Flowers and Sunshine” for its warm and sunny weather, “The Big Orange” due to the fact that the fruit thrives in warm climates, “Tinseltown” because of the embodiment of Hollywood, and “La-La Land” for the first letters of Los Angeles.

 

People often move here to pursue a career in the center of the rich and famous or simply to revel in a bustling city of diverse culture. The word “boredom” doesn’t exist in this city as there are many things to see and do—that even locals still revel in the beauty of this city. A walk around downtown Los Angeles is already a tour in and of itself. Here are some of the best spots that lead to a whole new adventure.

 

Grand Park

Across the City Hall of Los Angeles situates the Grand Park. This is the perfect place to unwind and relax at any time of the week as it hosts a number of performances and community events that are interesting to watch or be a part of. It gives a sense of play and romance which makes it an ideal place for both couples and families. While it is dog-friendly, another great thing about it is that dogs have their own gated dog park where they can play without being tied to their leash. Indeed, with its fountains, picnic lawns, nooks, and neon pink benches, gathering in this area can never get boring.

 

Union Station

Los Angeles Union Station was built in 1939 and is the largest railroad passenger terminal in the Western United States. It has been regarded as “the last of the great railway train stations.” It also features halls, courtyards, and buildings rich in history that are a joy to wander around in despite the influx of passengers. With its signature Mission Moderne style, marble tiles, faux-wood beamed ceilings, and art decorations, it easily became one of L.A’s architectural gems.

 

Walt Disney Concert Hall

Another one of L.A’s architectural gems is Walt Disney Concert Hall. This striking building represents the unique character and creative nature of Los Angeles. Aside from the fact that it holds one of the best acoustics, this place boasts The Library of Congress/Ira Gershwin Gallery, The Blue Ribbon Garden, The W.M Keck Foundation Children’s Amphitheater, REDCAT, Patina, and LA PHIL Store. It also has self-guided audio and guided tours where people could go in-depth into its history. Walt Disney Concert Hall has also been one of the go-to places for private events and events as it has both outdoor and indoor spaces that can cater to more than thousands of guests.

 

Grand Central Market

Recognized as Downtown Los Angeles’s food court, Grand Place Market consists of different cuisines that would certainly fit the budget yet satisfy the taste buds. This has existed for decades but it’s still widely visited by people from all corners of L.A. Trendy eateries such as Eggslut, Belcampo, Wexler’s Deli, and PBJ.LA are those that are usually packed but other eateries such as Sarita’s Pupuseria and China Cafe are also worth the try. Given that the city is famous among foodies, Grand Central Market is a must-visit.

 

Angels Flight

Featured in the movie La La Land, Angel’s Flight is a fun cable railway ride built on an inclined surface. It was built in the early 1900s as a tourist attraction and a means for people to avoid the steepest streets of Downtown L.A. In addition, Angels Flight was designated as the 4th Los Angeles Historic-Cultural Monument in August 1962 and has been added to the National Register of Historic Places in October 2000. Riding this short train ride feels like a step back in time—it gives a unique experience that every local and tourist would regard as a practical yet beautiful way of appreciating the Los Angeles culture and lifestyle. 

COVID-19 Impact on Los Angeles Real Estate

 

Steven Taylor Los Angeles Skyline at night

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Los Angeles, known as the land of opportunities, is a paradise for real estate investors. As it is the second-largest city in the country that takes pride in its warm weather, diverse culture, and dynamic economy, it comes as no surprise that a number of people have included it in their list of best cities to move into. It remains eye-catching for prospective tenants who are searching for practicality in the so-called land of the rich and famous. With all of these in mind, the competition for real estate investments is certainly high-having a strategy that is aligned with the current pandemic situation is the key to making the right investment that can generate a great long-term return.

Like many other sectors that the COVID-19 pandemic has made an impact on, the real estate market in Los Angeles has also encountered various challenges that continue to exist today. Despite the continuous progress and developments in the business conditions for commercial real estate in Los Angeles over the years, it was not exempted from the domino effect of the pandemic. Delays and shortages in terms of project developments in the sales operation, costs estimates, and values and rates of return of existing real estate were those that had the greatest impact.

The recent survey conducted by NAIOP found that 86.6% of developers faced delays or shortages in construction supplies while some types of deal activities have doubled for office and retail properties over the last year. A decline in the leasing for existing development projects has already dropped by more than half while shortages of both construction supplies and workers were more severe than last year. Considering that the country is slowly adjusting to the post-pandemic era, they reported that all of these have remained unchanged since June 2020.

On the other hand, the recent real estate forecast in Los Angeles has shown signs that it is ready to bounce back in the market. Mastroeni (2021) reported that rental vacancies have increased by 2.5% which meant that rental rates are also down-but only by 0.4%. This may come as good news for real estate investors given the awareness that it may likely be a short-term impact. Given the remote working environment, rental vacancies were expected to rise but as L.A continues to be one of the fastest-growing cities, investors know that this will eventually decrease post-pandemic.

The Los Angeles metro area also stated that they are running on 2.2 months worth of housing inventory but it is important to point out that this is higher than the national average of 1.6 months. This simply means that despite the delays and declines in project developments, L.A can still thrive on its existing value chain while catching up on further investments. On top of that, the increase in the number of both single and multi-family housing permits can also reduce the inventory shortage in the future.

As unemployment rates are still high in Los Angeles-9.9% as of February 2021 and higher than the national average of 6.2%, investors should consider how this affects the longer rental vacancies in the area. However, it should still be noted that L.A always has its reopening plan one way or another which means that more jobs will eventually become available. It would be ideal for investors to have a strategy on how they would approach this as of the moment and in the near future.

Investors should also be aware that unemployment is still relatively high in Los Angeles, which could lead to longer vacancies. As of February 2021, the unemployment rate is 9.9%, a figure that is up 5.6% since the same time last year and is significantly higher than the national average of just 6.2%. Still, as LA prepares to enter the next phase of its reopening plan, odds are that many more jobs will become available and the rate should begin to drop.

With that in mind and the fact that L.A real estate market is not the most affordable in the country, investors should concentrate on the fact that there’s still an abundance of investment opportunities for those who can afford the median price of over 700K. It is also worth noting that some neighborhoods in L.A are much cheaper and completion between buyers is lesser. Flipping houses may come to a halt but this should not prevent real estate investors from focusing their investments on rental properties instead. — Steven Taylor

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Originally published at https://steventaylorlandlord.com on September 14, 2021.

Taylor Equities

 Taylor Equities is a privately-run boutique real estate investment firm founded by Steven Taylor, Los Angeles. The company specializes in distressed and/or dilapidated apartment buildings in the greater Los Angeles area. Our acquisition process is detailed and thorough; our due diligence allows us to mitigate downside risks while optimizing the reposition for each property. Having multiple partnerships with local 3rd party property management companies enables us to match the strengths of each management company with the unique demands of each submarket.

For over 15 years, Taylor has been actively honing his knowledge and expertise of the real estate market in Southern California. He has experiences in all facets of the industry, starting with brokerage, to development, to running a real estate investment fund. With an uncompromising commitment to excellence, he has completed over $500 million in transactions and has developed a keen eye for identifying undervalued properties with strong upside potential. A fundamental philosophy that has severed the company well is recognizing that, “The profit is made on the buy, not the sell.”

Investing in real estate, particularly in the area of apartment buildings, has changed dramatically over the last several years. Foreign capital has flooded the market in hopes of providing wealth preservation for these international investors. As a result, competition has become more fierce and rampant. Despite these growing challenges, Taylor Equities continues to maintain its stronghold within the local market due to its expansive network of long term industry players and its successful track record.

Affordable Housing

Investments in affordable housing blend our core competencies with our commitment to community investment. With an accelerating nationwide affordable housing crisis, no community is immune from the impacts of rising housing costs. By leveraging our deep knowledge of risk mitigation, substantial experience in development, and immediately deployable capital from conscientious investors, we are uniquely positioned to manage investments in affordable housing that yield meaningful returns for all.

Development

Long-standing relationships with proven architects, engineers, and contractors establish Taylor Equities as particularly well-suited to take on development opportunities of many types. This capacity is further advanced by more than 15 years experience navigating governmental and regulatory bodies, planning departments, permitting processes, and utility companies. Specializing in multifamily ground-up and mixed-use projects, both on-grade and subterranean, Taylor Equities targets RTI/shovel-ready projects and land entitlements. Moreover, the introduction of new inventory to the housing supply is yet another way Taylor Equities advances its commitment to the community.

Originally published at https://taylorequities.com.

Steven Taylor Gives His Top 10 Los Angeles Laker Players of All Time

 

Steven Taylor : Los Angeles Tribute to Kobe Bryant

When you want to start an argument, ask just a Laker fan for his list of the top 10 Lakers players of all time. Then stand back, because that’s when the arguments begin.

One typical Laker Super Fan is Los Angeles native and Real Estate professional Steven Taylor. You may know Steve as the LA mover and shaker who has completed over a half billion dollars in real estate transactions in the Southern California real estate market. But inside, he’s a life-long Lakers Super Fan who takes his team seriously and isn’t afraid to share his views.

“Can you imagine,” he says, “the kind of team we’d have if, through some kind of time warp, we could bring together history’s all-time Laker greats and dress them for a game? No other team in the NBA could mount a roster of outstanding players quite like the Lakers.”

Think you can argue with that? Taylor would love to take you on. Here’s his list:

10. George Mikan

The third leading rebounder in Lakers history, and one of the first players enshrined in the Hall of Fame. His famous hook shot propelled him to multiple MVP titles and a career average of 23 points and 13 rebounds per game.

9. James Worthy

A lifelong Los Angeles Laker, James was a NBA leader in steals, points scored and field goal percentage. In his career, he averaged over 17 points and 5 rebounds per game. All good reasons why his jersey hangs in the rafters of Stables Center.

8. Elgin Baylor

Ranked 4^th on the Lakers all-time best rebounders (averaging 13.5 per game), Elgin averaged over 27 points per game. He was a giant game changer on both offense and defense. Not only does his jersey hang in Staples Center, but in 2018, his statue was unveiled just outside the stadium entrance.

7. Shaquille O’Neal

Possibly one of the best big players of all time, on all teams, Shaq lead the Lakers to 3 straight titles in the early 2000’s, winning 3 MVP awards. Had some trouble with free throws, but an indomitable force on both offence and defense.

6. Jerry West

The third player to score over 25,000 points, Jerry racked up 27 points per game, 6 rebounds and 7 assists over 14 seasons. His frequent game-winning plays won him the moniker of “Mr. Clutch.”

5. Wilt Chamberlain

Wilt earns his top 5 spot (many would list him at No. 1) by scoring an average of 20 rebounds and a phenomenal 30 points per game. Smooth, fast and agile, “Wilt the Stilt” undoubtedly makes every Top Ten Laker list ever compiled. The game many never see another like him.

4. Magic Johnson

For a guy forced to retire early due to physical issues, Magic makes you wonder what his record might have been with full health. Regardless, he won 5 NBA titles, three MVP trophies, and three NBA Finals MVPs. His 11.2 assists per game record is one of the highest in NBA history.

3. Kareem Abdul-Jabbar

Winner of eight NBA titles, Kareem was named to 19 All-Star games and chalked up a career average of 24 points and 11 rebounds per game.

2. Kobe Bryant

Many consider Kobe the greatest Laker of all time. He surpassed Michael Jordan in total points scored, with five championship rings and two Finals MVP awards. Many of his peers regard him as the all-time, all-around best player the game has ever seen. He has to be at the top—or close to it—on any serious Lakers Top Players list ever created.

1. The Best Ever? 

LA native Steven Taylor doesn’t name a #1 Best Ever player, not with someone like Lebron James still playing. Lebron surely needs to be on this list, Steven believes. But where? Is he number one, as many fans believe, or does he rank further up the list? Is he really better than Wilt, Magic, Kareem or Kobe?

Only time will tell.

Steven Taylor: Los Angeles Is Growing Smaller…and Better

 

Steven and Natalie Taylor in Los Angeles

Don’t be fooled by stories about those mega-mansions dotting exclusive Los Angeles neighborhoods. If you’re thinking of moving to the city, says Steven Taylor of Los Angeles, be prepared for a dash of reality. Not every home in Los Angeles is massively large with Olympic size swimming pools and yards the size of football fields

In fact, the average home size in Los Angeles metro today is actually smaller than the city’s average home just a few years ago.

Across the U.S., the medium-sized home is 2430 square feet. In Los Angeles, new homes typically come in at around 1800 feet. That’s larger than San Francisco’s 1150 sq. ft. homes, yet lags behind cities like San Diego ( 2728 to 3581 sq. ft.) and Las Vegas ( 2430 sq. ft.)

Much of the reason for LA’s smaller square footage, says Steven Taylor Los Angeles, is the densification of LA’s central area. People want to be close to the action, and the central area packs them into increasingly smaller lots and residences. For decades, new residents poured into the city from everywhere. But the growth began to slow down over the past few years. From 2018 to 2019, for example, there was actually a 0.08% decline in population.

Between July 2019 and July 2020, Los Angeles county lost 40,036 residents, the steepest loss of any other California county.

Nonetheless, says Taylor, the city has not lost its luster. Diehard Los Angeles residents still love their professional sports (Lakers and Dodgers), the diverse culture, the unmatched cuisine at the city’s many restaurants. Not least, of course, is what many regard as the best weather in the U.S. When you’re up to your ears in the snow, blizzards, hurricanes and tornados so common in other parts of the nation, LA’s moderate, balmy temperatures begin to look irresistible.

As the nation recovers from COVID, LA’s famous restaurants, night life and world-renowned attractions are springing back into life.

Add to that the lure of Hollywood and the huge film and entertainment industry, and you see why-despite recent losses over taxes and government regulations-the city is the first choice for so many of its residents.

If you want a home in what is still one of the most desirable cities in the U.S., top Los Angeles real estate pros, like Steve Taylor will tell you that LA is the place to go!

Originally published at https://steventaylorlandlord.com on April 6, 2021.

Steven Taylor: Los Angeles Is Growing Smaller…and Better

 

Steven Taylor with his family in Los Angeles

Don’t be fooled by stories about those mega-mansions dotting exclusive Los Angeles neighborhoods. If you’re thinking of moving to the city, says Steven Taylor of Los Angeles, be prepared for a dash of reality. Not every home in LOS ANGELES is massively large with Olympic size swimming pools and yards the size of football fields

In fact, the average home size in Los Angeles metro today is actually smaller than the city’s average home just a few years ago.

Across the U.S., the medium-sized home is 2430 square feet. In Los Angeles, new homes typically come in at around 1800 feet. That’s larger than San Francisco’s 1150 sq. ft. homes, yet lags behind cities like San Diego (2728 to 3581 sq. ft.) and Las Vegas (2430 sq. ft.) 

Much of the reason for LA’s smaller square footage, says Steven Taylor Los Angeles, is the densification of LA’s central area. People want to be close to the action, and the central area packs them into increasingly smaller lots and residences. For decades, new residents poured into the city from everywhere. But the growth began to slow down over the past few years. From 2018 to 2019, for example, there was actually a 0.08% decline in population.

Between July 2019 and July 2020, Los Angeles county lost 40,036 residents, the steepest loss of any other California county.

Nonetheless, says Taylor, the city has not lost its luster. Diehard Los Angeles residents still love their professional sports (Lakers and Dodgers), the diverse culture, the unmatched cuisine at the city’s many restaurants. Not least, of course, is what many regard as the best weather in the U.S. When you’re up to your ears in the snow, blizzards, hurricanes and tornados so common in other parts of the nation, LA’s moderate, balmy temperatures begin to look irresistible.

As the nation recovers from COVID, LA’s famous restaurants, night life and world-renowned attractions are springing back into life.

Add to that the lure of Hollywood and the huge film and entertainment industry, and you see why—despite recent losses over taxes and government regulations--the city is the first choice for so many of its residents.  

If you want a home in what is still one of the most desirable cities in the U.S., top Los Angeles real estate pros, like Steven Taylor will tell you that LA is the place to go! 

Steven Taylor on Professional Baseball History in Los Angeles

 

Superhero Family Steven Taylor and family celebrate in Los Angeles

Superhero Family Steven Taylor and family celebrate in Los Angeles

The Greater Los Angeles area is home to a rich world of professional sports. LA is one of only four metropolitan areas in the country to boast two major league baseball teams, making the sport even more popular amongst Angelenos. In Los Angeles, we have the Los Angeles Dodgers in the National League, and the Los Angeles Angels and in the American League. Southern California locals, like Steven Taylor Los Angeles native, take advantage of the weather and spend time at both Dodgers Stadium and Angels Stadium in Anaheim. Let’s take a look at the history of these two great teams and how they have impacted the LA area.

The Dodgers

Like a few other professional sports teams in Los Angeles, The Dodgers are transplants to the area. The team was originally founded in Brooklyn, New York in 1883, and adopted the team name “Dodgers” in 1932. Back in 1958, the team made the cross-country move to LA before their season, and played at the Los Angeles Memorial Coliseum before moving into their long-term and current home, Dodger Stadium in 1962. The Dodgers are credited for leading the geographic expansion of baseball west of the Mississippi.

The Dodgers are a historically innovative team. Not only did they lead baseball to the west coast, they also broke the color barrier, with the first black athlete to play in the MLB, Jackie Robinson. The team played the first televised baseball game as well, and even were first to introduce the batting helmet.

The Dodgers have since won seven World Series and twenty-four National League pennants. The team boasts the record of eighteen Rookie of the Year Award winners, which is twice as many as the runner up. LA locals and fans like Steven Taylor are looking forward to the MLB All-Star Game, set to be hosted by the Dodgers, along with the Angels, in 2022.

The Los Angeles Angels

The Los Angeles Angels are another pride point for Angelenos — the team was established as an expansion team in 1961 by Gene Autry. But, the team’s roots go deeper, with their very first appearance dating back to 1892, when the Los Angeles Seraphs began playing as part of the original California League. The following year, the team changed their name to the Angels, but many still referred to them as the Seraphs for quite some time.

Back in 1893, the Angels played at Athletic Park, where they made history with the Stockton Pirates as the first teams to play a night game on the West Coast. ( The Angels won the 9pm game, with a score of 5–2) The MLB didn’t hold a night game until years later in 1935.

In the beginning of the Gene Autry years, the Angels played home games at Los Angeles Wrigley Field, before moving in 1962 to Dodger Stadium where they were tenants of the Dodgers until 1965. They moved to their current home, Angel Stadium in Anaheim, in 1966. Despite the short drive, many people from Los Angeles like Steven Taylor are happy to head to Anaheim to support the LA team.

The Angels won their only American League pennant and World Series by defeating the San Francisco Giants in 2002. The team has a variety of other awards including MVP awards, CY Young Awards, and Rookie of the Year winners.

Originally published at https://www.reddit.com.