The Los Angeles multifamily market continues to demonstrate resilience, with significant sales activity reported recently. According to REBusinessOnline, Jackson Square Properties acquired a multifamily community in Marina del Rey for $170 million, showcasing sustained investor interest in the sector despite broader economic pressures 5. Additionally, a co-living complex near UCLA was sold for $8.5 million, further indicating that multifamily assets are still attracting attention from buyers 3.
However, the rental landscape in Los Angeles County is facing challenges. Realtor.com reports that the median asking rent in the area decreased to $2,520 in the first quarter of 2026, marking a 3.7% decline from the previous year. This figure represents the lowest level of asking rents since early 2022, suggesting potential difficulties in the rental market even as other sectors perform well 2.
In a related trend, the Olson Co. has made headlines by acquiring an office property in Monterey Park for $24.8 million, with plans to convert it into a residential community. This move reflects a broader trend of repurposing office spaces in response to changing market demands, as noted by REBusinessOnline 4.
Despite these shifts, the office sector in Los Angeles remains robust. Commercial Property Executive highlights that the office market continues to perform well, indicating resilience amid fluctuations in other real estate markets 1.
Overall, while the multifamily sector shows strong sales activity, the decline in median asking rents signals a complex rental market landscape in Los Angeles. Investors and stakeholders will need to navigate these dynamics carefully as they assess opportunities in the region.
Sources
- Commercial Property Executive — Los Angeles’ Office Sector Still Shines
- Realtor.com Economic Research — Los Angeles Rental Report 2026Q2: Rents Fall to a Four-Year Low, but Housing Still Stretches New Graduates’ Budgets
- ConnectCRE — Co-Living Complex Near UCLA Will Become Student Housing
- REBusinessOnline — Olson Co. Buys Office Property in Monterey Park, California for 24.8M, Plans Residential Conversion
- REBusinessOnline — Jackson Square Properties Acquires Multifamily Community in Marina del Rey, California for 170M