Blog Layout

Is Highland Park the New Echo Park? Great for Investors, Perfect for First Time Home Buyers-It’s the Next Hipster’s Haven!

Apr 02, 2012

Highland Park, California. I bet some of you are wondering, where the heck is Highland Park? It’s actually one of the oldest settled areas in Los Angeles. Surrounded by Pasadena, Eagle Rock, Glassell Park, Mount Washington, Montecito Heights and Monterey Hills and being off the 110 Freeway it’s quite easy to get to.

Highland Park is becoming an investor’s paradise. I just sealed the deal for my buyers at 1213 N. Ave 57 in the 90042 zip (blog and pics to come soon). My client is an investor looking to flip this home. I’ll go into the details more in the next post but I wanted to give you a little schooling on this area first.

Highland Park is quickly become the next ‘hipster’s’ haven. The demographic of HP is quickly changing and evolving. Properties are getting swooped up and flipped at a exponentially quick rate but the market for these fixers is very competitive. You can purchase a 3 bedroom 2 bath home completely remodeled for under $450,000. The LA Times recently published a front page article on the activity. I’ll recap:

Due to the high number of foreclosures and low interest rates renovators are giving distressed properties makeovers and reselling them as standard sales. Most of these investors come in at all cash, get amazing deals, throw some money into the property, update electrical systems and plumbing, and put the homes back on the market within a 6 month time period and do it all over again. This is causing a great deal of buzz around Highland Park. The prices are steadily rising, demographics are changing (from Latinos to hipsters and young professionals) and it’s causing the area to be more aesthetically pleasing.

The market is tough, I won’t say it’s not. There are so many all cash buyers but the good news, they mainly stick to the fixers so if you’re searching for a completely remodeled, move-in ready home your chances of being outbid by an all cash offer greatly decline.

The number of properties flipped in this area is almost doubled as compared to the overall flips in Los Angeles County. Highland Park’s price per square foot also rose 12% in the 4th quarter of 2011 from the same time a year earlier however, I can tell you from experience the prices are slightly higher than that now. Furthermore, the prices of these revamped homes are still less than the median for LA county and significantly less than it’s surrounding neighbors Pasadena, Eagle Rock & Glassell Park.

The mom and pop shops are also experiencing a spike in sales as more venders and businesses move into the area catered around fitness, healthy living and art.

Fun Facts about Highland Park:

– Forever 21 was founded and has it’s first location still located at 5637 N. Figueroa and bears the original name of the company, Fashion 21.

-York Blvd, the main strip, has tons of trendy shopping, restaurants and cafes.

-From the late 1950s until around the early 1980s, Highland Park and neighboring Eagle Rock were known as a haven for Hot Rod builders.

-One of the oldest settled areas of Los Angeles

-There are 11 elementary schools in Highland Park

-Some of the movies filmed here include, Reservoir Dogs, Cutter’s Way, La Bamba, The Lincoln Lawyer, Tuff Turf, Up in Smoke, Yes Man, Cyrus & Karate Kid III.

-There are large sprawling parks in the area, including the Arroya Seco Park and the Ernest E. Debs Regional Park.

-The Southwest Museum, with one of the largest and most significant collections of Native American artifacts in the country, is located in adjacent Mt. Washington.

If you want more information on investment properties in the Highland Park area, Renovated Homes or just have general real estate questions, feel free to call me at 310.956.9385 or visit my website.

< Older Post Newer Post >

Brittany Sells LA

SOLD: Spacious traditional in the red hot North Hollywood neighborhood

06 May, 2021

5648 Irvine Avenue, North Hollywood, CA 91601 Represented buyer – Sold for $ 1,165,000 – ($14k under asking!) 3 Bedrooms | 3 bathrooms | 2,302 sq.ft. MLS # SR20203879CN

Celebrating 10 Years

06 May, 2021

Wow! 10 years! When I first embarked on this journey I had NO idea I would fall so hard for this career. I couldn’t fathom the places it would take me, the amazingly wonderful people I would meet ♥️ and the opportunities it has afforded me. I never imagined this career would be so rewarding or fulfilling. It’s what keeps me going. What makes me feel alive. My one, true love. Most Realtors change offices many, many times over. I have remained true and loyal to the company which gives back so much. Keller Williams Los Feliz is my family. It’s the place I have made some of my first and best friends. Where I sold my first house where so many memories have been made. I wouldn’t be where I am without the support of this office and the people I’ve met along this incredible journey. I am eternally grateful. I have to send a huge shout out to my amazingly wonderful mom. She never stopped believing in me and encouraging my dreams. Thank you to Gary Reavis for being such an inspiration and ally in my life and career. You helped make this super fun and contributed to so many of my wins! To my amazing mentor when I was a weeee young clueless Realtor, Kenya Reeves-Costa (and for giving me the BrittanySellsLA branding idea). To our new team leader, Brock Worthen for continuing to inspire, cheer, and root for all your agent’s successes. I know I didn’t win an Oscar or a Grammy here, but making it 10 years in a cut throat industry is an accomplishment worthy of thanks and honorable mentions. I didn’t get here on my own. So here’s to the next 10 years. To the highs. To the lows. To the lives I am blessed to change and to all the remarkable people I have yet to meet. Perhaps the biggest thank you of all goes to each and every one of my sweet clients who trusted me over the past 10 years to find them their American Dream! It was a huge honor. Love you all and thank you for your continued referrals. I wouldn’t be here without YOU! Sincerely, Brittany Walter

JUST SOLD! Closed in 17 DAYS: Remodeled Valley Townhome

19 Feb, 2021

8801 Cedros Avenue #25, Panorama City, CA 91402 Represented buyer – SOLD FOR $457,000 2 Bedrooms | 3 bathrooms | 1,476 sq.ft. MLS #SR21019913CN Our first day out in this insanely competitive market my clients fell in love (the wet bar sold them!). We beat out 9 other offers to secure their very first offer, ever on this charming Valley townhome. The kicker, my lender was able to close the deal in 17 days for my clients. 17 days! This place is so light and bright and even has a skylight! The new owners are over the moon.

Sold: Prestigious Del Amo Woods home

27 Jan, 2021

23917 Pasatiempo LN, Harbor City, CA 90710 Represented Buyer 4 Bedroom | 3 bath | 2,354 sq.ft. | 7,056 sq.ft. lot | Sold for $820,000 MLS #DW20244732MR My client had been looking for a home for FOUR years with another agent, but when she contacted me last summer – we got to work! In just a few months we saw upwards of 100 homes until we finally found the one. Even better, I was able to negotiate a $30,000 credit!