Apartment building insurance in South Los Angeles (90037)
The apartment stock in South Los Angeles (90037) is old even for Los Angeles. 88% of the 512 buildings with five or more units went up before 1978 and the median one was built in 1926, so ordinance and law limits, original wiring and tuck-under parking are the first three things a file here has to answer for.
What this means for a building in South Los Angeles (90037)
- Age. The median apartment building here was built in 1926, and 88% are pre-1978. That is the ordinance and law and soft-story conversation. Why it matters.
- Size. The average building is 15.1 units and about 7,001 square feet, which puts replacement cost near $2,275,325 at $325 per square foot.
- Rent regulation. Los Angeles rent stabilization covers buildings built before 1979, which slows a rebuild and argues for 18 to 24 months of loss of rents.
- Market. 3 buildings sold here in the last six months. Each of those buyers inherited a policy that was probably wrong on at least one of the four gaps.
- Price. Older buildings across LA County are paying $1,500 to $2,500 per unit per year. What drives it.
What I would check first on a building in South Los Angeles (90037)
If you sent me an address here, I would start with the electrical panel and the wiring, because a median year built of 1926 means original service in a lot of these buildings. Then the ordinance and law limits, since 88% of the buildings here would have to be rebuilt to today's code. After that, the soft-story list, since any tuck-under parking in the City of LA needs a certificate before a carrier gets comfortable. Every one of those is public record, and checking them costs you nothing.
Nearby areas
The same public records for the areas next door.
- Fairfax and Miracle Mile (90036) 595 buildings
- Hollywood (90038) 757 buildings
- Pico-Robertson (90035) 682 buildings