Rent Stabilization Fallacy Exhibit B: 9683 West Olympic

In a previous post we followed up on a real estate listing for 169 North Clark Drive that local landlord (and Apartment Association executive director) Dan Yukelson had forwarded to city power brokers. His message was that longtime landlords are forced out of business by rent stabilization. He groused about “over regulation.” And he suggested that rent stabilization makes rental property ownership a losing proposition. That was all fallacy: 169 North Clark is a cash cow property. It was ‘exhibit A’ in rental property ownership ‘upside.’ Here is ‘exhibit B’: 9683 West Olympic.

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