Street Parking Only
So you want to live in a gracious vintage apartment in the Mid-Wilshire or Koreatown or Hollywood area. It has hardwood floors, a built-in, non-functioning icebox, cool tiles, and you can take the subway downtown. So it was built during the Red Car era when Los Angeles had really good public transportation, before most people had cars, and so it doesn't come with a parking space. You can deal, right?
Here are the pros and cons. The later it is when you get home, the farther you will probably have to walk from your car. Also, you need to budget for at least a few parking tickets a year for the days that you forget to move your car for street cleaning. Usually this happens when you are sick in bed, so then not only are you sick, but you've also gotten fined $45. Another thing to know with these old buildings is that often the apartments do not have individual electricity and gas meters, which means that the utility charges are often conveniently included in the rent. Less conveniently, there is a loophole in the rent control laws. If the building is rent controlled, the landlord can raise the rent 3%, PLUS 1% for each utility included -- if it's gas and electric, that's a total of a 5% rent increase each year, compounding each year, even though there's no way his costs are going up that much each year. So he can raise the rent that much, but will he? Probably. He probably is mortgaged to the hilt after deciding that an apartment building in an "up-and-coming" area in an overheated real estate market was a good investment, plus he probably needs the cash flow to support whatever lifestyle he's got that means that you can only ever reach him by cell phone in Vegas.
On the other hand, parking is so tough because this central area is densely populated -- which also means you can usually walk to get things like coffee, boba teas and juices, pho, tacos or pupusas, and basic groceries (particularly if you like to experiment with Korean, Central American, or Bangladeshi foods). Having to walk 10 or 15 minutes to and from your car means you actually get in some walking during the day, which can help keep you in shape without having to go out of the way to the gym. Still, having street parking only in a dense neighborhood does complicate things: