Close to DTLA, Yet Well Under $1Mil

It's still a Seller's market. Prices are high, lots of buyers, nicely maintained properties are still getting multiple bids, and inventory is super low. 

And yes, I'm going to go there. I'm actually using $1Mil as a benchmark for affordability. These are the times we live in, in L.A. (Keep in mind our Norcal neighbors are laughing at these affordable prices.)

Despite the gloom and doom news about home affordability (some of which is true), certain pockets of the city are still in high demand and the buyers can actually afford what they're looking for. Some DTLA owners are opting to rent out their DTLA pad and try out a house with a yard in these pockets or buy an investment to AirBnB.

Some excellent up and coming neighborhoods where values are still rising due to proximity to DTLA and other major hubs, and prices on average are under $1Mil.

Highland Park 

Glassell Park

Montecito Heights

Lincoln Heights

Hermon

Monterey Hills

El Sereno

Garvanza

West Adams/Jefferson Park

View Park/Park Hill Heights

DTLA Pocket Rental Alert: Gorgeous Loft w/ Concrete Floors at Eastern Columbia

Gorgeous 900sf loft for lease at the famed Eastern Columbia building on 9th & Broadway. Beautifully maintained with stainless steel appliances and a Kelly Wearstler designed bathroom. Open plan layout with views to the south. Concrete Floors, 11 foot ceilings, and comes with 1 parking space. Within 3 blocks to Ace Hotel, Whole Foods, Terroni, Peking Tavern, Pattern Bar, Freehand, The Exchange, Cos, CVS, Loit, Verve, IL Cafe, Om Nom, Ralphs, Wood Spoon, New Moon, Tuck, Wild Living and more.

Asking $2800/mo. Available Oct 1, 2017. Call for a details. 310-869-2655

"Not Paying Some A**hole's Mortgage"

I ask all my buyer clients why they've decided to buy. A client of mine who just bought a small house in NELA had told me it was because he was sick of paying rent to a Landlord who was a piece of work. After the relationship had continued to get worse and his non-rent-control house increased to $3200/mo, my client decided that was it. No more paying someone else's mortgage.

He ended up buying a house where his PITI (principal, interest, taxes & insurance) equated to about $3350/mo. For $150 more per month, he is now paying himself to own a place in which he can paint, remodel, add onto, landscape, and park 24/7. 

With prices what they are currently, it's difficult to own for cheaper than you rent. We aren't in 2011 anymore. But sometimes the peace of mind and pride of ownership is worth every penny. 

Plus he gets to write off a mortgage interest and property taxes, and rent out the detached studio as an AirBnb whenever he wants. And he's still close enough to the neighborhoods he frequents, which are DTLA, Pasadena Glendale & Atwater.