transit proximity? (by DD [ON]) Jul 9, 2025 5:04 PM
transit proximity? (by Deanna [TX]) Jul 9, 2025 5:16 PM
transit proximity? (by DD [ON]) Jul 9, 2025 10:37 PM
transit proximity? (by WMH [NC]) Jul 10, 2025 4:41 AM
transit proximity? (by Ray-N-Pa [PA]) Jul 10, 2025 7:03 AM
transit proximity? (by Robert J [CA]) Jul 10, 2025 7:03 AM
transit proximity? (by zero [IN]) Jul 10, 2025 8:25 AM
transit proximity? (by Robert J [CA]) Jul 10, 2025 2:43 PM
transit proximity? (by DD [ON]) Jul 11, 2025 10:49 AM
transit proximity? (by Oregon Woodsmoke [ID]) Jul 11, 2025 11:38 AM
transit proximity? (by Oreo [WI]) Jul 12, 2025 12:13 AM
transit proximity? (by DD [ON]) Posted on: Jul 9, 2025 5:04 PM Message:
For those that have tenants that rely on public transit, is there a distance in location that you have found makes a difference? Obviously, the closer to a transit line/stop, the better. Specifically, less than a quarter mile, half a mile, three quarters of a mile, does it make that much difference in attracting tenants? Thanks!! --23.233.xx.xxx |
transit proximity? (by Deanna [TX]) Posted on: Jul 9, 2025 5:16 PM Message:
Transit isn't much of a thing in my specific area, but I would expect "natural barriers to getting there" is more of a thing.
So-- if I have to walk four blocks to the train station or bus stop, that's one thing. But if I have to cross a very busy intersection/major road/highway, even if the distance is the same, the presence of that barrier gets in the way of its mathematical proximity.
So when I was living in a university setting, we were bounded by three major roads. Anything "inside" of those roads was easier to rent to students, especially walking ones. Anything "outside" of those roads was harder, even if Point A was technically closer than Point B.
In your area, in addition to major roads/highways blocking a pedestrian from easily walking, are there any other significant shifts? Moving from residential to a warehouse district, where safety might be perceived differently? Moving from a single-family neighborhood to an area with lots of apartments, or vice versa? etc.
Walk it yourself, and gauge your own impressions. Then figure out how it will feel when it's hot in the summer, cold in the winter, wet on a rainy day, etc. The theoretical ideal (according to what I'm reading) is you'll walk a max of 6 minutes to catch a bus, and a max of about 10 minutes to catch a train. --137.118.xx.xxx |
transit proximity? (by DD [ON]) Posted on: Jul 9, 2025 10:37 PM Message:
Deanna, Thanks for the natural barriers idea, that was not in my brain at all for a rental! The walk it myself idea is good, and why I am asking here. I walk a lot, lived in walkable areas for years, and am recognized by strangers as the one who rollarblades with a baby buggy... so my judgement is poor with regards to how hot is too hot, how cold is too cold, how far is too far... because I would have always just sucked it up and walked. But I think people like things to be easy, I am trying to gauge what is "easy" enough. --23.233.xx.xxx |
transit proximity? (by WMH [NC]) Posted on: Jul 10, 2025 4:41 AM Message:
No public transport here at all. Can't help. --173.28.xx.xxx |
transit proximity? (by Ray-N-Pa [PA]) Posted on: Jul 10, 2025 7:03 AM Message:
Deanna does provide some level of assistance. The obstacle itself doesn't matter it as much as the amount of time to overcome it.
If a bus ride is greater than 30 minutes, how practical is that mode of transport. So if the center of employment is greater than 30 minutes away, then these folks have to look elsewhere.
I remember a speaker who challenged us, to drive in front of our rentals at 5 AM and wait. Soon the lights will come on and the folks will get up for work. They are working to pay for that rent. In a sense, they are working for you and me. He further challenged us to look and count cars on the road. If more cars are going in one direction than the other, there is a center of employment that direction. He was teaching the understanding of what to look for in an investment.
We tend to be rural and suburban here. Typical transit times to work are about 20-30 minutes, If you are spending more than 30 minutes, getting somewhere - it had better pay rather well. There are jobs like that too in larger centers of employment.
Over in Ontario, what percentage does a typical pay of their paycheck for housing? Nationally here it's 28% but along the coast it is closer to 40%
--174.131.xxx.xx |
transit proximity? (by Robert J [CA]) Posted on: Jul 10, 2025 7:03 AM Message:
May years ago, Los Angeles was installing the underground Red Line from Koreatown to Downtown, then under the Hollywood Hills to Universal Studios thru North Hollywood. Later to be expanded all over the City. The real estate market took a dive, from 12x down to 5x gross for apartments.
The time line was critical. Building the underground was going to take between 8 to 10 years.
So I took a look at the Bus routes. In Koreatown the major street were Beverly Blvd, Vermont Ave., Third Street, Wilshire Ave., and many others.
So I noticed the building of new school, money being spent of Beautification of old business areas.
So my City had the Redevelopment Department. Taking Bribes, selling lots to developers for under market prices. I needed to see their plans. So I bribed two workers at that department. I was going to get a look at the plans on the walls.
Saw where the proposed phony stations were going to be located for the subway and the real locations. I also saw where the city was giving 16 million to redevelop a mile area along 1 main street. It was worth the money I paid to have a look.
I then purchased a run down 8 unit, two 4 units, a five unit and a house along the route of the subway. I lucked out My 8 unit was a block and a half from a major subway connection, and the Beverly Bus Route and the Vermount bus route was also there. That property went from $250,000 before the subway to $1M afterwards.
Now a person could rent a place in the City so they wife and kids could live near friends and family, while the husband could take a bus or subway to work--getting there in 25 minutes instead of 2 hours each way. --47.155.xx.xxx |
transit proximity? (by zero [IN]) Posted on: Jul 10, 2025 8:25 AM Message:
Robertj, you complain about all the underhanded things the local government does but you admit to doing the same thing by bribing people so you can get ahead.
Look real close in the mirror again and ask who is the person you see. --107.147.xx.xx |
transit proximity? (by Robert J [CA]) Posted on: Jul 10, 2025 2:43 PM Message:
Yes Zero, you are so right. But what I didn't mention in the above story, is that I have friends or people I know that are big wigs in local real estate. I mean a group with over 10,000 rentals. Or a relative with $40M in holdings. I asked them questions in exchange for my contracting skills. And they are given the Royal treatment and handed information like it was nothing.
When I contacted the then Mayor andothers, I was offered this information if I paid $2500 for a dinner to raise money for their reelection complain.
Instead I gave the money to hard working low level employee's, who never got bribe money on a daily basis.
Since then, 1980's, I've learned how to play nice when it comes to "Permits". --47.155.xx.xxx |
transit proximity? (by DD [ON]) Posted on: Jul 11, 2025 10:49 AM Message:
Ray-N-Pa- Low income spend a good 50%-60% of income on rent in my area. It is crazy. There are posts every week in the facebook mom's group asking how to make ends meet... It is 30minutes bus to the universities, which good for students, and closer to the tech area where lots of singles work. It is 20 minutes bike to the universities, right on the "bike highway", and on a nature area. It is in the middle of things by car, just not super close to a highway exit. It looks more accesible than it is, due to being on a one way street. So it is quiet for being downtown. It sounds better and better as I type the answer, thanks!! --23.233.xx.xxx |
transit proximity? (by Oregon Woodsmoke [ID]) Posted on: Jul 11, 2025 11:38 AM Message:
Guessing but anything within a block or two of public transportation is going to get a premium in rent and not any further away than that. I'm thinking that a short walk through bad weather or carrying groceries is a lot more attractive than a longer walk and if they must do a longer walk, they are not going to pay higher for it. --76.178.xxx.xxx |
transit proximity? (by Oreo [WI]) Posted on: Jul 12, 2025 12:13 AM Message:
Not everyone wants to live downtown. When I worked downtown, I took the bus. About a 30 minute ride, then a bit of a walk to work from there. Some coworkers lived downtown in old, expensive small apartments, not updated like they are today. I chose to live in a nice neighborhood with a Nature Preserve and hiking trails across the street. The areas between our house and where I worked were not safe. Several
co-workers drove an hour or more to get to work.
While distance may play a factor for some, you likely have features in your area and building to market that would out way distance. --75.11.xx.xx |
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