L.A. County Apartment Appreciation

The hottest price appreciation for any type of apartment buildings in Los Angeles County during 1988 was for small apartment buildings in Koreatown, according to the Los Angeles County Apartment Building Report published by Apartment Building Appraisers & Analysts Inc. The following examples put the annual appreciation rate in Koreatown at 31%: 8-unit building sold Jan. 1988 for $280,000 and resold Dec. 1988 for nearly $390,000. 6-unit building sold Jan. 1988 for $270,000 and resold Sept. 1988 for $317,000. 16-unit building sold July. 1987 for $590,000 and resold Dec. 1988 for $690,000. 8-unit building sold Mar. 1986 for $225,000 and resold Oct. 1988 for $465,000. 10-unit building sold Jan. 1988 for $480,000 and resold May. 1988 for $560,000. 8-unit building sold April. 1987 for $201,000 , relisted Feb. 1989 for $299,500 and immediately received at least two full-price offers.