Ok... first off let me begin by saying that if you don't live in Los Angeles you may find our version of a "budget" kind of insane but us Angelinos just kind of roll with the punches here in the big smoke - having our bank accounts raped on a daily basis is just par for the course!
As many of you know I work in a wonderful little area of Los Angeles called Hancock Park. I love it for many reasons, the beautiful architecture, the kind of people who chose to live in this neighborhood and how central it is to just about everything. Most of my clients love to go for a drive through the neighborhood and admire the beautiful homes of Hancock Park proper where the average purchase price is roughly $2MM. Many of my first time home buyer clients can't even afford what I like to call the little "grandma" homes in Larchmont Village which usually begin around $900,000 and up.
So what do you do when you don't want to move way out to the boonies but your budget only allows up to $600,000? You call me! haha! Seriously though - you should call me, I'm good at this!
As a realtor who has worked in both the high end luxury real estate market and also with investors who are flipping properties at the complete other end of the market, I have developed a very broad knowledge of the neighborhoods that are up and coming. So you can't afford Beverly Hills, Hancock Park or Hollywood. Why not try Mid City, Los Angeles?
As you can see by the map above Mid City runs mostly south of Olympic Blvd all the way down to the 10 freeway. It lies basically between La Cienega Blvd and Hoover Blvd. Mid City is actually an area that has a collection of neighborhoods and it is becoming the next best place to find an affordable home. There are tonnes of little pockets of cute houses, some streets are mixed use with apartment buildings, multi-family units and single family homes, there are also really cool semi-gated neighborhoods like La Fayette Square with stately homes averaging 3,600sq ft. There are some really cool areas with turn of the century Victorian Homes that are slowly but surely being bought up by investors and restorers to turn these run down shacks into beautiful homes again.
What can you expect when you are thinking of buying in this area?
- It is not fancy schmancy like many of the neighborhoods to the north and the west but it has potential!
- Majority of the homes in this area were built in the 1920's and 1930's.
- The neighborhoods are socio-economically diverse.
- There is no rhyme or reason as to who your neighbor will be - Asian, Hispanic, Black, White - everyone lives here!
- This is a great area to invest and buy income properties.
- You will save a lot of money if you shop at the local markets - their prices are insane!
This is an area where I predict that the property values will just keep on rising. It is definitely diverse and has an interesting vibe about it. Take a drive around, call me for a tour - it is the perfect area for a first time home buyer or any buyer who wants to make a smart investment.
As many of you know I work in a wonderful little area of Los Angeles called Hancock Park. I love it for many reasons, the beautiful architecture, the kind of people who chose to live in this neighborhood and how central it is to just about everything. Most of my clients love to go for a drive through the neighborhood and admire the beautiful homes of Hancock Park proper where the average purchase price is roughly $2MM. Many of my first time home buyer clients can't even afford what I like to call the little "grandma" homes in Larchmont Village which usually begin around $900,000 and up.
So what do you do when you don't want to move way out to the boonies but your budget only allows up to $600,000? You call me! haha! Seriously though - you should call me, I'm good at this!
As a realtor who has worked in both the high end luxury real estate market and also with investors who are flipping properties at the complete other end of the market, I have developed a very broad knowledge of the neighborhoods that are up and coming. So you can't afford Beverly Hills, Hancock Park or Hollywood. Why not try Mid City, Los Angeles?
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| Mid City Los Angeles - Best neighborhood to buy on a budget |
As you can see by the map above Mid City runs mostly south of Olympic Blvd all the way down to the 10 freeway. It lies basically between La Cienega Blvd and Hoover Blvd. Mid City is actually an area that has a collection of neighborhoods and it is becoming the next best place to find an affordable home. There are tonnes of little pockets of cute houses, some streets are mixed use with apartment buildings, multi-family units and single family homes, there are also really cool semi-gated neighborhoods like La Fayette Square with stately homes averaging 3,600sq ft. There are some really cool areas with turn of the century Victorian Homes that are slowly but surely being bought up by investors and restorers to turn these run down shacks into beautiful homes again.
What can you expect when you are thinking of buying in this area?
- It is not fancy schmancy like many of the neighborhoods to the north and the west but it has potential!
- Majority of the homes in this area were built in the 1920's and 1930's.
- The neighborhoods are socio-economically diverse.
- There is no rhyme or reason as to who your neighbor will be - Asian, Hispanic, Black, White - everyone lives here!
- This is a great area to invest and buy income properties.
- You will save a lot of money if you shop at the local markets - their prices are insane!
This is an area where I predict that the property values will just keep on rising. It is definitely diverse and has an interesting vibe about it. Take a drive around, call me for a tour - it is the perfect area for a first time home buyer or any buyer who wants to make a smart investment.
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