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In 1952, the apartments purchased the Union Oil Building at S Hope Street and 7th Street in Downtown Los Angeles as an investment for $2.2 million [6] (equivalent to $25.2 million in 2023). In November 2012, the El Royale was purchased by Kamran Hakim and Farhad Eshaghpour for $29.5 million in cash.
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Los Altos was built in 1925 and designed by Edward B. Rust and Luther Mayo. In 1999, it was listed on the National Register of Historic Places.The Spanish Colonial building began as Los Angeles' first co-op, including a 3300 square foot, two-story suite for William Randolph Hearst and Marion Davies as their city flat.
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In Toronto, rooming houses were common in the 1930s, during the Great Depression, because "wealthy homeowners" who had guest houses would rent out empty rooms to be able to keep their homes. After WWII, the city ensured that rooming house spaces were available for returning soldiers. [ 9 ]
Short-term rental (STR) describes furnished self-contained apartments or houses that are rented for short periods of time. [1] They are usually seen as an alternative to hotels. "Short stay" rentals are an offshoot of the corporate housing market, [2] and are also offered by private owners and investors via online platforms such as Airbnb. [1]
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