Stable, profitable, and appreciable, high-value real estate assets are virtually guaranteed to secure you a strong return. But where should you look for premium real estate?
Los Angeles is world-famous for its hot real estate market. Within the competitive world of Los Angeles real estate, the Westside region stands apart; this area is peerless in its density of hyper-valuable property.
Choose Westside Los Angeles Real Estate
The Westside is home to the most high-value real estate opportunities in Los Angeles and the entire country.
Christina has thrived in the Westside region of Los Angeles over the past four decades. In this competitive market, moving fast and decisively on new assets makes all the difference in the quality of a return.
To compete in this lucrative market, you need to know what sets the Westside apart, its niche neighborhoods, and the best ways to invest in local property.
Where Is the Westside?
The Westside borders are generally considered to begin west of the 405 and north of the 10; high-resolution boundaries for the Westside define its boundaries as Mulholland Dr to the north, La Cienega Blvd to the east, the Santa Monica Freeway to the south, and the Pacific coast on its west.
Most of the Westside sits under the shadow of the Santa Monica mountains to the north. With plenty of arterial highways passing through and connecting to the Westside, the region is easily accessible to the rest of the city.
More urban central Los Angeles starts just to its east, and further beyond lies the hustle and bustle of downtown LA.
What Makes the Westside So High Value?
The Westside real estate market has stood apart from its peers for over a century. Its strength is due to several factors that have sustained an unprecedented circulation of capital in the area.
From when its neighborhoods were first developed to the present day, the Westside has maintained its sterling reputation for high-value real estate.
Here are a few reasons why.
- Legacy of wealth
- Film industry
- Silicon Beach
- Location
- Strong cultural attractions
How Do the Westside’s Origins Impact the Real Estate Market?
The Westside has been an affluent area since the turn of the century. The San Fernando Valley made many people rich during the early 1900s due to nearby oil drilling operations. Oil derricks were once a common sight within Los Angeles — you can still find some today.
The California oil boom transformed Los Angeles. As the LA sprawl grew, wealthy oil families used their resources to develop land west of downtown. The affluent Westside neighborhoods of the modern day, with their resplendent manors, can trace their roots to their founding by wealthy oil families.
These notable people included:
- The Hancock family developed Hancock Park with money from oil drilling in La Brea.
- Bel Air founder Alphozo Bell grew rich after oil was discovered on his Sante Fe Springs farm.
- Beverly Hills was originally a ranch bought by the Amalgamated Oil Company, oil prospectors who, after failing to find oil in the area, continued to develop the neighborhood after they found another valuable resource: water.
Old Oil Money Established Westside Wealth
Not only did Los Angeles experience explosive growth from mass migration to the San Fernando Valley, but wealthy speculative investors also convened en masse on the Westside both in search of oil and to form stately neighborhoods for their mansions.
The Westside had a profound headstart when it came to development. The Westside began with a high concentration of wealth underpinning its property values.
Oil money and the search for more profoundly enriched Westside real estate, and the effects are still felt today.
How Does the Film Industry Affect Westside Real Estate?
Oil money transformed the Westside at the turn of the century. Following in its wake was another transformative shift that would sustain the region’s real estate: the film industry’s rise.
From its earliest days, the American film industry was synonymous with Los Angeles. The San Fernando Valley had the ideal climate for film production. The area’s consistently warm, sunny weather ensured that climate rarely disrupted expensive shoots. A stable, drier climate was better suited for preserving film reels.
The open spaces in Los Angeles at the time made it easy to build expansive studio lots.
Compared to already developed cities like New York, early 20th century Los Angeles still had plenty of land to accommodate the needs of the fledgling film industry, especially in the developing Westside.
The Film Industry Bolsters Residential and Commercial Real Estate in the Westside
Film and TV media is a multi-billion dollar industry. The sheer volume of capital generated by the high density of studios and film stars in the Westside ensures property values move at a premium.
Media giants like Netflix, Hulu, Paramount, and 20th Century Fox have deep ties to the Westside, sustaining a high-value commercial real estate market.
Beyond the direct studio presence, the residential neighborhoods of the Westside serve the most affluent figures in the industry; movie stars, big-name producers, and Hollywood movers and shakers compete for property from Beverly Hills to Santa Monica.
How Has Silicon Beach Affected Westside Real Estate?
Home to burgeoning oil tycoons, and later titans of the film industry, the Westside has brought its reputation as the cradle of innovation into the 21st century: the Silicon Beach phenomenon has transformed the Westside into a world-class tech hub.
Silicon Beach draws its name from Silicon Valley in neighboring northern California — once the undisputed world leader in tech. The Bay Area’s tech dominance diminished when Google built its largest campus outside Silicon Valley in the Westside’s Santa Monica.
Google’s new campus opened the floodgates; wave after wave of tech’s most prominent names followed suit. Hundreds of tech companies in the past decade have established themselves in the coastal Westside, earning it the new nickname Silicon Beach.
Tech Capital Has Taken Westside Real Estate to a New Level
The presence of a single tech giant can transform an entire city’s economy; the Westside has hundreds. Silicon Beach has affected Westside real estate in two significant ways.
Firstly, commercial real estate has seen substantial growth. Blue-chip tech companies have the resources to pay top dollar for office space, as do competitive startups backed by venture capital.
Secondly, residential real estate has taken off in Silicon Beach neighborhoods due to the influx of high-income earning tech employees looking for homes.
With even more capital circulating the Westside due to the increasing tech presence, the area has yet another economic pillar to ensure the stability of its premium real estate.
How Does Location Affect Westside Real Estate?
Real estate has unique properties that influence its value and set it apart from other asset classes. Chief among them is the influence of location, which profoundly influences the Westside.
Its location in relation to the rest of the city of Los Angeles and its distinctive surroundings propel the value of Westside real estate.
The Westside is a beautiful location by every metric:
- It enjoys perfect, balmy weather year-round.
- Thanks to its scenic mountain vistas, it has gorgeous views, providing ample hiking opportunities for nature lovers.
- The beaches in the Westside are among the most attractive features in the entire city.
The region is close enough to the bustle of its urban neighbors — the nightlife available on the Sunset Strip or downtown Los Angeles — while offering residents quiet, suburban seclusion at home.
The Westside’s Prime Location Sustains High Performing Real Estate
The location makes all the difference in property value; waterfront properties categorically perform well. The Westside’s location is an immutable feature that sustains the real estate market.
Westside neighborhoods are the best in Los Angeles due mainly to their locational advantages, which create a more competitive and higher-value market than other parts of the city.
The Westside Is Premium Real Estate in a World-Class City
Between the foundational billion-dollar industries sustaining the local economy, the unparalleled location, and the enduring cultural legacy, the Westside is an exceptional real estate market in a fantastic city.
The Westside attracts people not just from across the country but from around the world. This 100-square-mile area alone is a world leader in film, fashion, food, tech, and culture.
Westside real estate has so many advantages that it is virtually guaranteed to remain at the top of its class, making it a potentially strong place to invest.
What Are the Best Westside Neighborhoods?
Any given Westside neighborhood is almost guaranteed to have premium real estate. Some areas have blue-chip real estate markets that reliably dispense steady returns; other neighborhoods have more potential for explosive growth.
The Westside is decently sized, with plenty of niche markets to explore. Here are five neighborhoods you should consider for your next investment.
These neighborhoods include:
- Santa Monica
- Venice
- Century City
- Culver City
- Pacific Palisades
Santa Monica
Santa Monica is rich in features that sustain its substantial real estate market.
For one, it’s the epicenter of the Silicon Beach phenomenon. Dozens of big-name tech companies have established their headquarters there, and the tech presence here bolsters both commercial and residential real estate.
Santa Monica has the most coastline of any Westside neighborhood. People continuously drawn to its sunny beaches ensure Santa Monica remains amongst the most high-performing markets in Los Angeles.
The median sales price for a Santa Monica home is 1.8 million dollars. Santa Monica real estate sports a diverse range of properties to choose from between its ultra-luxury homes overlooking the specific high-density duplexes.
Venice
Just south of Santa Monica is Venice, one of the Westside’s smaller neighborhoods and also one of its most iconic. Like Santa Monica, Venice hosts famous beaches and has drawn in tech companies following in the wake of Silicon Beach.
What sets Venice apart is its rich bohemian legacy. Beat poets congregated in Venice cafés in the 1950s. Legendary rock stars like Jimi Hendrix, Janis Joplin, and Jim Morrison frequented the neighborhood.
Venice’s allure as a happening place contributes to solid demand for property here: the median sales price for Venice homes is two million dollars.
Century City
Closer to central Los Angeles, Century City is distinct from other Westside locations due to its robust commercial environment.
Century City’s skyscrapers contribute to the Los Angeles skyline and the Westside’s strong business culture. Commercial centers like The Century, Fox Plaza, and Westfield Century City sustain the local real estate market just as much as they support the local economy.
Prominent film industry companies like Netflix and the neighborhood‘s namesake, 20th Century Fox, call Century City home.
The median sales price of a Century City home is 1.8 million dollars. In addition to a strong residential market, Century City presents real estate investors with various property classes to decide on.
Culver City
Culver City is a Westside location that is primed for explosive growth. While it is host to premium real estate assets, Culver City’s property value isn’t as high as its peers. The median sales price for a Culver City home is about 1.3 million dollars. Last year it had a significant jump in value.
As economic boons from Silicon Beach expand outward, Culver City is quickly becoming transformed by an increasing tech presence. The area is primed for economic growth due to increased office space and residential property demand.
Pacific Palisades
The Pacific Palisades has some of the most high-value properties in the entire city.
Located north of Santa Monica, the Palisades consist of land following along the coast and into the hillsides. The neighborhood is well-known for its secluded ambiance; LA celebrities gravitate toward Pacific Palisades property, where homes here maintain a sense of privacy.
Pacific Palisades properties are the epitome of premium real estate between its expansive beachfront properties and gorgeous hillside scenery.
The median listing price for a Pacific Palisades home is four million dollars; homes for sale range between 500k to 69 million dollars, indicating that this hyper-valuable real estate market has serious blue-chip assets.
How To Invest in Westside Real Estate?
Premium Westside real estate will protect your portfolio from shifting markets, but it is expensive. Independently acquiring Westside assets is extremely difficult due to their high financial thresholds.
The additional burden on your time managing properties makes real estate investing hard to do on your own.
A firm is the best way to get into premium real estate assets. Firms have access to capital, the know-how, and the capability to properly manage real estate assets and earn the best possible return.
Invest With the Best
Christina has fine-tuned a strategy for navigating the Westside real estate market; it’s how we’ve remained the best private equity real estate firm in Los Angeles.
Our team has the skill set, the resources, and the network to connect you with multi-million dollar properties so you can help strengthen your finances.
Get started with us today and protect your portfolio tomorrow with premium Westside real estate.
Sources:
Santa Monica, CA | Realtor.com
Venice Real Estate Market | Redfin
Century City Housing Mark the et | Redfin