Welcome to Curbed Comparisons, where we explore what you can rent or buy for a certain dollar amount in various LA ’hoods. We’ve found five homes and condos within about $10,000 of today’s price: $740,000.
West Adams
Enclosed behind a white picket fence, this Spanish-style was built in 1927 but was given a face lift within the past few years. It’s still laced with charming details, including arched entryways, tray ceilings, wide moldings, and a turreted dining room. New details include quartz counters, stainless steel appliances, shaker cabinets, and recessed lighting. The sun-splashed dwelling measures 1,261 square feet and holds two bedrooms and one bathroom, plus there’s a detached garage on the 4,914 square-foot lot. It’s listed at $750,000.
Los Feliz
This fairly spacious two-bedroom condo clocks in at 1,159 square feet, with one and a half baths, a dining room, and a balcony with views of the hills. Part of a 24-unit complex that was built in 1963, it has some midcentury flair. It also sports new laminate flooring and updated bathrooms with subway tiles and recessed lights. Just off Commonwealth, the shops, bars, and restaurants on Hillhurst and Vermont avenues are a short walk away. The unit is listed at $749,000, with monthly HOA fees of $300.
Glendale
Here’s another 1920s Spanish-style house. This one is located at the base of the Verdugo Mountains, putting hiking trails in easy reach. The little home spans 837 square feet, packing in two bedrooms and one bathroom, plus a formal dining room. Features include a decorative fireplace, recessed lighting, and a covered front porch. Plus, it’s outfitted with new copper plumbing, kitchen cabinets, and appliances. The 3,281-square-foot property is asking $744,000.
Santa Monica
With a private entrance off the street and a backdoor that opens to a courtyard, this 1940s condo in a six-unit building feels like a “standalone townhouse,” the listing notes. The two-bedroom, one-bathroom residence comes in at 784 square feet. The kitchen and bathroom have been updated, but the living room still has its original oak floors. There’s an in-unit washer and dryer and a finished, private garage. The big perk is the location: Two walkable blocks from Montana Avenue and about a mile to downtown Santa Monica and Palisades Park. The asking price is $745,000, with HOA dues of $300 per month.
Highland Park
Off Figueroa Street, this 1920s bungalow comes with a back cottage that would be ideal as an “office, studio or project space.” The main residence clocks in at 1,000 square feet and contains two bedrooms and one bathroom. Features include refinished original hardwood floors, central A/C, and an updated kitchen with butcher block counters and a vintage stove. The 4,535-square-foot lot is large enough to accommodate a sizable yard with room to entertain and garden. It’s listed at $730,000.
Comments
I’m having a hard time seeing a clear cut winner here. None are much better then the others, but I do like the size and location of Los Feliz, but not the lack of in unit laundry
By mrjim1 on 12.17.19 11:07am
An additional strike against the Los Feliz unit is that I’ve heard there’s a perpetual background smell of cigarette smoke due to the way the entire building’s air/ventilation system was designed.
By disqusted on 12.17.19 2:19pm
Really? That’s not good
By mrjim1 on 12.17.19 3:20pm
Expanding areas of consideration to North Hollywood, where there is considerable positive development occurring (e.g. NoHo, and NoHo West https://la.curbed.com/2017/4/6/15212058/noho-west-north-hollywood-development-macys), and Valley Glen would reveal good opportunities at this price point.
The same locations keep re-appearing in these comparison articles. It’s lazy blogging.
By BingoWest on 12.17.19 11:33am
I’m beginning to think that certain real estate agents and developers have an undue influence over our beloved Curbed
By mrjim1 on 12.17.19 2:09pm
Shhhhhh. Don’t tell people about "the valley." It’s still a secret.
By subaruwrx on 12.17.19 5:15pm
I think Bing Crosby blew that cover in 1944 with his song "San Fernando Valley" https://www.youtube.com/watch?v=bDXHjjidiQg
He owned a lot of real estate in the Valley and probably increased the value of his portfolio many times with this #1 hit
By mrjim1 on 12.18.19 9:03am
Santa Monica is one of those TIC/co-ops. While I’m a big fan of that approach and love SM, $745k + $300 HOA is pricey for 784 SF. West Adams is the best choice here — great value and great house.
By calzada on 12.17.19 2:35pm
West Adams, hands down for me. Attractive updates to original historical character (not slavishly so), good street. A six-unit TIC scares the socks off me.
By kcp1 on 12.17.19 4:05pm
It is so interesting to think how recently all of these would have been $350,000 to $375,000 homes. Knowing that makes +/-$740,000 seem so expensive!
By lady who lunches on 12.17.19 2:57pm
I have to remind myself as well that prices that you mention would have been achievable 10 to 15 years ago.
By subaruwrx on 12.17.19 5:18pm
West Adams was half the price 5 years ago. Not 10-15.
By Planning Nerd on 12.18.19 9:35am
Yeah… but buying in that window (after the entire real estate market collapsed) was probably a once in a lifetime opportunity. Even if we have another recession, doesn’t seem like many of the experts are suggesting housing prices will dip anywhere near that low again (at least not in coastal California.)
But I guess time will tell.
By corner soul on 12.18.19 8:25am
the experts who did not see the last crash do not see a crash coming in the future. interesting.
By Planning Nerd on 12.18.19 9:37am
we also had a real estate collapse in 1992, and declines in 2001, so 2008 was hardly a once in a lifetime opportunity.
By Planning Nerd on 12.18.19 9:41am
I’m not suggesting there won’t be a correction… seems likely there will be. But banks aren’t giving out mortgages to anyone with a pulse like they did in the mid-aughts, so it probably won’t be as profound. The prior downturns you mentioned certainly weren’t.
Seems like the bigger bubble these days is the stock market… corporate debt is off the charts!
By corner soul on 12.18.19 10:44am
Nationally you are correct but not in LA if you bought in the early 1990s like I did. It was a terrible time. Property values crashed 30% and took 12 years to recover. The state let us pay lower property taxes which was never done before, that’s how bad it was.
Values crashed more in 2008 but only took 9 years to recover. Don’t mix up what happened nationally in the 90s with what happened in LA. We had all kinds of unique circumstances like aerospace jobs pulling out, riots and an earthquake. If there is a correction in the tech sector there will be profound effects.
By calzada on 12.18.19 11:04am
I pick West Adams. The runner-up is Highland Park. Then Los Feliz.
By Topaz113 on 12.17.19 4:34pm
west adams already sold, $710,000. i liked this one.
By cicinla on 12.20.19 11:31am
I wish it would become illegal to install laminate flooring.
By RocksDad on 12.20.19 8:43pm