Koreatown has been one of the hottest multifamily markets in Los Angeles for both investment and development. Now, the Downtown Los Angeles adjacent neighborhood is hitting a new milestone: short-term residential. CGI Strategies has completed construction of KODO, a short-term residential hotel in Koreatown that will service both entertainment and tech-business travelers in need of short-term rentals, with a minimum stay of one month and a maximum of one year. The development—which is the first of its kind in the market—shows the growing demand for different types of housing options in the rapidly growing market. "Koreatown has evolved into one of the trendiest neighborhoods in Los Angeles, attracting mostly young professionals who are not looking to live in a typical apartment building," Gidi Cohen, president and founder of CGI, tells GlobeSt.com. "We wanted to create what we call a residential hotel living that enhanced the Koreatown experience." CGI calls the residences "toothbrush ready," meaning they are fully outfitted with everything from furniture to kitchen utensils. The property has a mix studio, one- and two-bedroom floor plans ranging in size from 500 to 850 square feet. "KODO is an extended stay rental property available for stays from one month to a year," Cohen says. "This model meets the needs of a variety of different renters, such as those in the entertainment or tech business that have to be in Los Angeles for a short period of time to work on a project.  These are typically creative people that want to take advantage of the cultural vibrancy of Koreatown.  They don't want to stay in a hotel but want the benefits, such as housekeeping and laundry service. It's really the best of both worlds." The property has just opened, but there is already strong interest. "The response has been excellent.  Since we are in the soft opening period, we haven't been actively marketing KODO," says Cohen. "Even so, without much effort we have leased almost 20% of the project in two weeks." Take a look at the property in the slideshow above.