Thinking about buying or leasing an income unit near The Grove and wondering if demand will hold up? You are not alone. With CBS Television City right next door, this pocket attracts steady interest from entertainment professionals who value walkability, flexible leases, and quick commutes. In this guide, you will see what drives demand, where current rents are landing, which features win leases, the rules you must follow, and the smart steps to get started. Let’s dive in.
Why this pocket pulls renters
The Grove at Farmers Market sits at 189 The Grove Drive, in the Fairfax and Beverly Grove area of central Los Angeles. It is a major retail and dining hub with daily foot traffic and strong curb appeal for renters who prize convenience and lifestyle. You can confirm the location and amenity mix on the entry for The Grove at Farmers Market.
When people say “CBS” here, they almost always mean CBS Television City at 7800 Beverly Boulevard, which is directly adjacent to The Grove and the Farmers Market. Television City hosts active productions and audience tapings that bring crews, staff, and guests to the area on a recurring basis. You can see the studio’s active taping profile on the TV taping overview for CBS Television City. The result is a reliable pool of renters who want short commutes, flexible terms, and easy access to food and services between calls.
Note: CBS Studio Center on Radford Avenue in Studio City is a separate complex in the Valley. For demand around The Grove, Television City is the driver.
Current rent ranges near The Grove
If you want a conservative baseline, the HUD Fair Market Rents for the Los Angeles–Long Beach–Glendale metro in FY2025 are Studio about $1,856, 1BR about $2,081, and 2BR about $2,625. These are voucher benchmarks at roughly the 40th percentile, and central LA market medians often run higher. You can review the official figures on HUD’s metro FMR listing.
Listing snapshots tell the practical story. Recent Mid-City West and Beverly Grove listings show wide spreads by building class, with Zumper’s snapshot indicating studios around $1,895, 1-bedrooms around $2,597, and 2-bedrooms around $3,695 in the neighborhood sample. See a representative Mid-City West snapshot reference on Zumper. Some luxury buildings in Beverly Grove skew higher, which pushes averages up.
As a working range near The Grove, plan around these broad bands before you run comps for a specific address:
- Studios: $1,700 to $2,400
- 1-bedrooms: $2,200 to $3,400
- 2-bedrooms: $3,200 to $5,000
Always tighten these with a same-building or same-block comp set before you price.
Time on market and listing behavior
Walkable, amenity-rich pockets like The Grove area tend to lease faster than the city average for non-luxury units. Large or top-tier luxury listings can see more competition and longer days on market. Your best guide is a 90-day comp run in the immediate building or within a block. Price correctly at launch and highlight features entertainment workers value.
Who rents here and what they value
Los Angeles has a concentrated motion picture and sound recording workforce, with occupational concentrations above national averages. That cluster drives meaningful demand for studio-adjacent housing, including production and post-production staff, show crews, on-air talent, and the many support roles around them. You can see LA’s occupational footprint in the BLS profile for the metro area.
Segments to target
- Early-career production assistants and gig workers. These renters are price sensitive, often share units, and value flexible terms and furnished options for simple move-ins.
- Mid-level crew and post-production specialists. Editors and camera operators often seek 1 to 2 bedrooms with secure parking or easy rideshare access, strong internet, quiet interiors, and small equipment storage.
- On-air talent, managers, and producers. This group leans toward premium 1 to 3 bedrooms, prefers furnished units, short windows, and sometimes uses guarantors or corporate billing.
Features that win leases
- Furnished option for 30 to 90 day or flexible terms. Many visiting professionals want turnkey solutions. If you plan any short-stay strategy, confirm what is allowed before you launch.
- High-speed wired internet and a defined workspace. Advertise upload speeds for editors and producers.
- Parking or easy load-in plus secure bike storage. Equipment and odd hours make this a differentiator.
- Laundry in-unit or immediate building access. Crew schedules reward convenience.
- Sound-mitigating touches and blackout shades. Irregular work hours mean daytime rest for some tenants.
- Flexible leases such as 1 to 12 month options, then month-to-month, plus acceptance of guarantors or corporate billing where appropriate.
- Fast application and onboarding. Online applications, speedy background and credit checks, and openness to production payroll references can help qualified gig workers who do not fit a traditional W-2 pattern.
Know the rules before you list
Los Angeles Rent Stabilization Ordinance
Many apartment units built on or before October 1, 1978 fall under the City of Los Angeles Rent Stabilization Ordinance. RSO coverage changes what you can increase and how you handle notices. Check the status of any property before you price or purchase by using the city’s RSO calculator and guidance.
Statewide AB 1482 rent cap and just-cause
AB 1482 creates a statewide cap that has historically been framed as 5 percent plus CPI, with a 10 percent ceiling in a given year, and establishes just-cause eviction protections for covered units. There are exemptions, including many newer buildings and certain single-family situations. Review the specifics and verify whether a candidate property is covered or exempt using the AB 1482 overview.
Short-term rental and home-sharing limits
Los Angeles limits home-sharing and requires registration, and the standard program is restricted to a host’s primary residence with caps on unhosted nights. Investment properties are generally not eligible for Airbnb-style operation as short-term rentals. Confirm the rules and any HOA restrictions by reviewing the city’s Home-Sharing Ordinance. If you plan furnished listings, focus on legal mid-term options and corporate-style stays that comply with city rules.
Other practical constraints
Condo and HOA bylaws can limit rentals and furnished offerings. Insurance coverage differs for landlords versus short-term exposures. ADU conversions and garage build-outs require proper permits. Also review any relocation assistance obligations for no-fault move-outs. Build these checks into your underwriting and timeline.
Pricing and packaging ideas
- Lead with a clear price band anchored to your building and block comps, then test demand with strong photography and copy that highlights proximity to The Grove and Television City.
- Offer a furnished 1-bedroom at a modest premium to a comparable unfurnished 1-bedroom. Production bookings and shorter windows often justify the uplift if your carrying and cleaning costs are modeled correctly.
- Publish internet specs, parking details, laundry access, and any sound-mitigating improvements. These are make-or-break items for many entertainment workers.
- Consider a deposit structure and approval workflow that accommodate corporate billing or guarantors. That can widen your qualified pool.
- Keep renewal paths simple. Tenants value the ability to extend without a full re-application when shoots run long.
Risks and outlook to watch
- Regulatory change. City actions and guidance can shift allowable increases and procedures under rent control and renter protections. Build a compliance calendar and update your pro forma when rules change.
- Supply and vacancy. LA-wide deliveries in recent years have pressured some submarkets, while luxury and Class A buildings behave differently than small walk-ups. Recent investor reporting shows stabilization in multifamily cap-rate expectations after earlier peaks, which affects pricing and return hurdles. See the Q4 2025 overview from REBusinessOnline.
- Production cycles. Strikes or slowdowns can soften short furnished demand, while busy content pipelines can spike it. Expect cyclical exposure if you aim at visiting talent and crews.
- Regional events. Wildfires or major storms can shift housing demand temporarily. Carry the right insurance and an emergency plan for continuity.
Next steps for investors near The Grove
Run property-level checks. Confirm RSO status, any HOA rules on rentals and furnishings, permit history for ADUs or conversions, and title conditions. This protects your underwriting and your plan.
Do a 90-day comp run. Pull active and recently leased comps in the same building or within one block on multiple listing sources, then cross-check against HUD FMRs as a conservative baseline.
Choose the offering. Decide whether you will run unfurnished annual leases or a compliant furnished mid-term program. Model occupancy, cleaning, turn costs, furnishings depreciation, and marketing spend.
Build the product. Add the features that matter most to this renter pool: fast internet, parking clarity, laundry access, and basic sound mitigation. Prepare a smooth application and approval process.
Activate the right channels. Use mainstream rental platforms and, where compliant, corporate housing outlets for longer stays. Respond fast to inquiries and keep showing windows flexible.
If you want help setting price bands, tightening comps, and positioning a unit that speaks to this renter base, connect with Bryan Abrams. Bryan’s team handles leasing and tenant placement across Los Angeles with a neighborhood-first approach and the polish you expect from a top-tier brand.
FAQs
What defines “near The Grove” for rental demand?
- The Grove at Farmers Market sits by Beverly Boulevard and Fairfax Avenue, and demand is strongest within easy walking or a short ride of CBS Television City at 7800 Beverly Boulevard.
How much can I raise rent on a Beverly Grove unit?
- It depends on coverage: RSO units follow city formulas and caps, while non-RSO units may be covered by AB 1482’s 5 percent plus CPI framework up to a 10 percent cap, so verify status first.
Can I do furnished month-to-month near The Grove?
- Yes for mid-term leases when compliant, but Los Angeles restricts short-term rentals to registered primary residences, so confirm the Home-Sharing Ordinance and any HOA rules.
What features help me stand out to entertainment tenants?
- Offer strong internet with posted upload speeds, convenient parking or load-in, laundry access, basic sound mitigation, and reasonable flexibility on lease length and move-in timing.
Where should I price a furnished 1-bedroom?
- Start with local comps in your building and block, then apply a modest furnished premium within the broad 1-bedroom range of about $2,200 to $3,400, and test response with high-quality marketing.
