Income Property Sales Trends
I still can’t find that one person. That one person who ever bought a duplex in Silver Lake and regrets it. Income property prices continue to rise in Silver Lake, Atwater Village, Highland Park and, especially, Echo Park, where the average multi-unit property sells for 29% more than it did last year, on average.
It’s a great time to be a landlord in Los Angeles.
People who own multi-unit properties in L.A. right now are sitting pretty. Demand for rental property far exceeds the number of rental units available today. Few new dwelling units have been added to the area’s housing supply this century and those being built today will barely put a dent in current demand, let alone future demand. The economy is on fire, everyone is working again, more people than ever want to live in the Los Angeles area. It is smart to be a landlord and it is the right time to buy income property in Los Angeles. Continue reading
Home Prices in Elysian Valley
The median selling price of a home in Elysian Valley is now $550,000. Yikes. Last year it was $455,000. Wow. That’s an increase of $95,000 in one year – more than 20%. Holy… If your house in Frogtown is super-average its value increased by almost $100,000, or $7,917 per month, within ONE YEAR. Huge numbers! Huge. Homeowner + Frogtown = Genius. Genius.
Elysian Value House Values 2016
All signs point to a very bright future and increasing prosperity for Frogtown. Its proximity to Silver Lake, Echo Park, Atwater Village and Downtown Los Angeles make it the most appealing place along the LA Riverfront to buy property today. The market tells us prices continue to increase in Elysian Valley, however, a 20% increase in property values may not be sustainable over the long term. Unless Frogtown is the new Venice, which it may be, we shall see….
Is it Time to Sell in Frogtown?
Maybe. You own a home in Elysian Valley and you know your home is worth a fortune. That makes you a genius with a fortune in equity. Are you a fortune teller? Unless you a psychic genius who can see the future you don’t know what you don’t know.
My point of view is: it depends. It depends on your future plans. What are your goals? What do you want to do with your life? Here are the most common situations people thinking about selling are in… Continue reading
5749 Troost Avenue
North Hollywood, CA 91601
2BD, 1.5BA + Detached Studio
1,474 sq. ft.
It’s a Home + a Creative Studio Space!
From the street 5749 Troost looks like other pre-war traditional-style homes in North Hollywood. You may think you know what to expect once you are inside – hardwood floors, very little ornamentation, quality built-in cabinetry. This one has all of that plus a whole lot more.
The average price of a house in Santa Monica was $2.77 million in 2015. Wow! If you own in Venice or Santa Monica it is likely the value of your home has increased since you purchased it.
Atwater Village House Values
Good news, you can still buy a house for under half-a-million dollars. These are the 3 neighborhoods in Northeast Los Angeles (NELA) where average prices are under $500,000:
Once upon a time homes sold for about the same price in the Beverly Center-Miracle Mile area as they did in Silver Lake. My how times have changed… Continue reading
If you haven’t been to the Gamble House in Pasadena yet call me. I’m ready to check it out again, you need to see it, let’s make it happen!
DTLA Condos & Lofts
Congratulations! If you bought that loft in the Historic Core at the bottom of the market this time in 2012 chances are your place is worth twice as much as you paid for it. Wow. DTLA loft values continue to rise in 2016 – condos are not being built fast enough to keep up with demand.
See more Market Statistics for DTLA and the surrounding neighborhoods. For current Arts District loft values click here.
Click here to get the market value of your DTLA loft or condo.
4031 Edenhurst Avenue
4031 Edenhurst Avenue
3 BD | 3 BA | 1,619 Sq. Ft.
This classic Spanish-style home in Atwater Village has been renovated and updated with an all-new kitchen, brand new bathrooms and more. Continue reading