No matter which way the economy turns, diversified investments in a range of asset classes will keep your portfolio safe. Diversifying your investments depends on the inclusion of high-value real estate assets.
But where should you invest?
For investors looking for properties that are as safe as they are valuable, invest in West Los Angeles real estate.
Choose West Los Angeles Real Estate
The future isn’t so bright for the economy.
Hurdling to the brink of recession with inflation that continues to rise, now is the time to protect your finances with high-value real estate. Real estate serves as a hedge against inflation; rising prices can help properties increase in value.
Christina has thrived in the Los Angeles real estate market for over four decades. With a team of real estate professionals that have seen everything the market has in store, the firm’s strategy has proven itself time and time again.
Now, Christina is looking at the potential of West Los Angeles real estate. Let’s explore why.
Where Is West Los Angeles?
As the name suggests, West Los Angeles is a neighborhood located due west of downtown Los Angeles proper.
West Los Angeles marks the general area considered to be the center of the Westside region, one of L.A’s most high-performing areas.
West L.A. is a liminal neighborhood within a short distance to the coast and a mere 13 miles to downtown.
What Are the Surrounding Neighborhoods of West Los Angeles?
Westwood and Brentwood lie north of West L.A.
To its east is Rancho Park, and beyond, Beverly Hills 90210. To the south of West Los Angeles in Culver City, and just west is Santa Monica.
Some of the most iconic neighborhoods in the city surround West Los Angeles; it’s effectively the geographical heart of the Westside region.
What Are the Boundaries of West Los Angeles?
The most defined boundary in West Los Angeles is its southern edge, which follows along the 10, or Christopher Columbus Transcontinental Highway, continuing from Manning Ave and Motor Ave to S Centinela Ave.
Manning Ave and S Beverly Glen Rd comprise most of the eastern border.
The boundary follows Route 2, or Santa Monica Blvd, north until it hits the Nathan Shapell Memorial Highway, the 405. From there, the boundaries follow a slew of streets til it reaches its northernmost point on Bonsall Ave.
Montana Ave makes its northwestern boundary until it intersects with Wellesly Ave.
West Los Angeles is about five square miles.
Why Do People Move to West Los Angeles?
- It’s in a great location
- It’s benefiting from the Silicon Beach phenomenon
- There’s plenty to do here
Why Is West Los Angeles in Such a Great Location?
West Los Angeles is at the center of the Westside, putting the neighborhood near a wide range of amenities.
For one, the 405, the 10, and Santa Monica Blvd all have immediate access from within West Hollywood. Drivers can quickly get connected to the rest of the city by hopping on any of these arterial roadways.
Because West Los Angeles is so centrally located, it makes traveling to other parts of the city relatively easy.
The coast is only a 10-minute drive away; downtown is only about a 30-minute drive; Santa Monica airport is just south of the neighborhood.
West L.A.’s Central Location Raises Property Value: West Los Angeles is a deeply connected neighborhood with easy access to some of L.A.’s most attractive features.
For residents and businesses alike, the centrality of West Los Angeles makes it an attractive location.
Its ideal location has become a draw for people moving to the area who want to experience all that Los Angeles has to offer. Businesses receive increased traffic from being at the center of the vibrant Westside.
What Is There To Do in West Los Angeles?
The value of West Los Angeles doesn’t just come from its proximity to other popular neighborhoods. West L.A. has plenty of cultural amenities and things to do that draw people and businesses to the area.
West Los Angeles is also known as Sawtelle Japantown. The neighborhood has a long history of serving the Japanese community. Residents and visitors can enjoy some of the best ramen, sushi, and Japanese-inspired cuisine the city has to offer in West L.A.
With plenty of other eating options, West Los Angeles is well-known for its restaurant scene.
The West Pavilion Mall hosts a range of boutique shops to choose from. Stoner Park provides residents a popular greenspace for outdoor activities to enjoy the sunny skies over Los Angeles.
West Los Angeles Is a Good Home for Residents and Businesses: West Los Angeles strikes a perfect balance between urban bustle and suburban serenity. Sawtelle Blvd is a walkable promenade with some of the best Japanese cuisine in the city. The neighborhood is at once cozy and energetic around every block.
As the heart of the Westside, West Los Angeles is immersed in a rich cultural environment, making this neighborhood a desirable area for residents and businesses that want to be at the center of what’s happening in the city.
What Is Silicon Beach?
Silicon Beach is a nickname for the increased presence of tech companies in the Westside region of Los Angeles.
Referencing Silicon Valley in northern California, Silicon Beach has transformed the economy of Westside neighborhoods like West Los Angeles by injecting dozens of multi-million dollar companies into a highly concentrated area.
After Google built its Santa Monica campus in 2011, their largest complex outside the San Francisco Bay area, the entire region became a nexus for tech giants and up-and-coming startups.
Here are a few companies that have a strong presence in the Silicon Beach area:
- Meta
- YouTube
- SNAP INC.
- Dollar Shave Club
- ZipRecruiter
- Naughty Dog
- Riot Games
- Headspace
How Does the Silicon Beach Phenomenon Affect West L.A. Real Estate?: As the Silicon Beach phenomenon expands, West L.A. has become the next big spot where tech giants and startups compete for office space.
Just one tech company moving to a city can profoundly affect the local economy.
Real estate investors have the opportunity to buy into prime real estate assets that are likely to skyrocket in value as more tech companies move to the region.
Considering the high budgets tech giants and investment capital-funded startups have, West Los Angeles’s office space can be expected to rise in value as more businesses search for accommodating commercial real estate.
Residential properties are likely to continue their increase in value as more high-income earning professionals move to West Los Angeles to follow the tech boom.
What Are Population Demographics in West Los Angeles?
A proper understanding of a neighborhood’s potential comes from a deeper grasp of the community. The people calling West Los Angeles home are crucial to the neighborhood’s future.
Here are vital demographics indicating that West Los Angeles is rising.
Population Stats
West Los Angeles is home to 14,625 people. The population has increased by 1% from last year — the population is on the rise.
The median age for West Los Angeles residents is 37; that’s on the younger side compared to other neighborhoods in the Westside region.
Families comprise 40% of the households in Los Angeles. 15% of homes have children. Many relatively young people are without families in West Los Angeles. With more young people moving to the neighborhood, available residential spaces will become even more competitive, making it an ideal time to invest in residential rental properties.
Income Stats
West Los Angeles, like the rest of the Westside, is affluent.
The median household income is $100,418, while the average household income is even higher at $139,911. The average household income rose by 4% since last year, indicating that the neighborhood is becoming wealthier.
Already one of the more affluent neighborhoods in the city, West Los Angelenos, are increasing their wealth. As the neighborhood becomes wealthier, real estate property value can be expected to rise along with it.
Employment Stats
The overwhelming majority of West Los Angelenos do white-collar work: 96%. The remaining 4% do blue-collar work.
Of that white-collar workforce, most work for the private sector at 69%. Self-employed entrepreneurs comprise 15% of the workforce, followed by government employees at 10% and non-profit workers at 8%.
The wealth of white-collar workers speak to the financial security underpinning the real estate market in West Los Angeles. High-income earning employees call this neighborhood home and will pay more for better homes.
Want to learn about the forces that drive the real estate market? Christina’s educational resources will help you understand how real estate investing works.
What Are the Real Estate Trends in West Los Angeles?
Watching which way the market is heading is an essential part of understanding the local real estate scene.
Here are a few key metrics that point to West Los Angeles real estate’s potential in the near future.
- Property values
- Number of housing units
- Average listings and days on market
Property Value
The median listing price for West Los Angeles homes is $1,100,000; that’s $728 for every sq ft of West Los Angeles property. The listing price has risen 14.6% since last year — an impressive uptick.
The median sales price for homes is $1,200,000, indicating that property in West Angeles is getting more competitive.
Number of Housing Units
West Los Angeles has 7,259 housing units, 6,755 currently occupied.
Most residents are renters; 69% of West Los Angelenos rent, while the occupants own 31%.
Development in West Los Angeles peaked in the 1970s, with 1,606 units added to the neighborhood over the decade. Within the past decade, only 236 new units were added.
Average Listing and Days on Market
There are currently 27 listings for West Los Angeles homes, fewer than average.
West Los Angeles homes sell after 43 days, a slight uptick in an otherwise strong downward trend.
From a long-term perspective, homes are listed slightly below more normal levels, while their days on the market have trended downwards over the past few years.
What’s the Future of West Los Angeles Real Estate?
West Los Angeles is nearing a tipping point where real estate value is likely to explode.
The encroaching presence of big-budget tech companies in the neighborhood, its central location, and cultural amenities make the community highly alluring to high-income businesses and residents.
Together, these forces push West L.A. real estate into the hyper-prime territory.
Get started with your investments in this neighborhood before they take off.
Sources:
West Los Angeles Demographics | Point2Homes
West Los Angeles, CA | Realtor
West Los Angeles, Los Angeles Real Estate & Homes For Sale | Trulia