RAY Investments

Residential · Affordable · Yielding

Housing for California's missing middle.

RAY Investments acquires and operates apartment communities across California, starting in Los Angeles, with a long-term commitment to keeping them affordable for working households.

Get in touch Our mission
Illustration of two apartment towers at night with lit windows and palm trees

Our mission

To preserve and provide quality rental housing that working households can afford, for the teachers, nurses, first responders and service workers who keep California's cities running.

We believe affordability is worth protecting. Every home that stays within reach of a working family is one less household priced out of the neighborhood it serves. We invest for the long term, so the communities we own stay good places to live and stay affordable.

Who we serve

The missing middle.

Moderate-income households earn too much to qualify for most subsidized housing, and too little to keep pace with market rents. They are the largest group of renters California's housing system leaves out.

  • Teachers
  • Nurses
  • First responders
  • Transit and port workers
  • Service and retail workers
  • Young families
Deep subsidyHousing for the lowest-income households, funded through competitive public programs and long waitlists.
The missing middleWorking households with steady jobs and moderate incomes. Few programs serve them, and few owners focus on them. This is where RAY works.
Market rateRents set by the open market, which in much of California now take a large share of a working household's income.

What we stand for

Residential. Affordable. Yielding.

RResidential

Homes, not just buildings

We own multifamily housing: places people live in for years. We care for them that way, with responsive management and real reinvestment.

AAffordable

Rents working families can carry

We commit our communities to long-term affordability for moderate-income households, and we keep that commitment.

YYielding

Built to last

Affordable housing only stays affordable if it is well run and financially sound. Durable, steady operations are what let us hold for the long term.

Our approach

Preserve what already exists.

Building new housing in California is slow and expensive. Many of the homes working families need are already standing. We focus on keeping them available, well maintained and affordable.

  1. 01

    Acquire

    We buy existing, occupied apartment communities in California's job centers, starting in Los Angeles.

  2. 02

    Commit

    We put long-term affordability commitments in place, so rents stay within reach of moderate-income households.

  3. 03

    Partner

    We work alongside mission-aligned nonprofits and public agencies that share our goal of keeping housing affordable.

  4. 04

    Operate

    We manage hands-on, reinvest in our buildings, and hold for the long term. No displacement, no flipping.

Own an apartment building in California?

We buy existing communities of 20 units and up, move quickly, and close with certainty. Owners and brokers are welcome to reach out in confidence.

Talk to us

Contact us

Let's talk.

Tell us a little about yourself and why you're reaching out. A member of our team will get back to you.

  • Owners and brokers with a property to discuss
  • Investors interested in our work
  • Nonprofits and public agencies exploring a partnership
  • Residents and neighbors with a question

We use your details only to respond to you. We don't share or sell them.