With limited single family housing inventory for sale, the rental market in Los Angeles the least affordable it has ever been, and with median single family home prices on the rise, how do you become a first time home owner or scale down after retirement? The small lot subdivision ordinance was designed by the city of Los Angeles in 2005 with the goal of increasing density in urban areas, creating more affordable single family homes and boosting home ownership. Currently, these townhouse style residences have proven popular. Here are a few examples of projects in neighborhoods nearby to help introduce you small lot developments.
Blackbirds @ 2040 Vestal Ave. located in the Elysian section of Echo Park. 18 homes built and 4 remain for sale. Prices range from $795k —$1.1M. Superior design by Barbara Bestor, patios with views, custom cabinetry plus walking distance to The Fix for a coffee and shops along Echo Park Ave. Our favorite. BlackbirdsLA.com
Buzz Court @ 2844 Rowena Ct. in Silverlake. All 6 units are certified LEED Platinum. The project is SOLD OUT but as units come to market for resale asking prices range from $769k to $995k. Clever design details like sunken living rooms, solar panels and rooftop decks make this project stand out. Walk out your door to the Edendale for dinner or your child down the street to fashionable Ivanhoe Elementary. Heyday-LA.com
Latitudes @ 2753 Waverly Dr. in Silverlake. Comprised of 63 tri-level homes ranging from 2-4 bedrooms. Fashionable rooftop terraces. The property lies within Ivanhoe school district. Starting in the high $700s. SilverlakeLiving.com
Fountain & Gower @ 1258 Gower St. in Hollywood. Brand new to market 11 homes all consisting of 3 bed & 3.5 baths. Individual rooftop decks with views of the hills. Stainless steel appliances. Great for future Netflix employees living and working in Hollywood. Starting in the low $800s. FountainandGower.com
SL70 @ 2210 Clifford St. in Silverlake. 70 units starting in the high $700s! Views with green roof top decks. More than your standard white box. Get your exercise in at nearby Tommy Lasorda park or Modo Yoga slated to open their second LA studio next door. SL70.com
Coming soon @ 4700 Wilshire at Rimpau. Farmers Insurance development proposed by the CIM Group calls for 52 condo units starting on the 4th floor of the Farmers Insurance Building, 9 triplex units along Wilshire and 15 single family homes (7 homes facing 8th street, 8 facing an internal garden walk street). Lots of discussion within the community and we look forward to keeping you up to date on the latest developments of the project.
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