Los Angeles is a city in California with many amazing features. The city attracts a lot of people, both residents and tourists, because of its amazing weather and beautiful beaches. LA reports about two hundred and eighty sunny days per year making it perfect outdoor weather!
Los Angeles, CA is also the second largest city in the States. This gives it an added advantage in the business field. It offers many opportunities and services for work and leisure. The large population also offers a variety of markets in various business fields such as real estate and banking, among other businesses.
However, if you intend to join the investors in Los Angeles real estate market, you need to know the best locations. Choosing the right location for your investment property will open you up to endless opportunities and a wide array of renters.
The location you choose should have social amenities such as schools, public transport, and other points of interest. Apart from that, you should also be mindful of the affordability and walkability in your preferred location.
With that established, we are going to look at some of the best areas for investors in the city of Los Angeles, California.
Best Areas to Invest in Los Angeles Real Estate
Central LA is one of the most populated areas in Los Angeles. It has twenty-six neighborhoods and is home to about 845,000 people, many of whom are renters. It is also an area with multiple entertainment services that attract people of all age groups.
Beverly Grove, one of the best-rated neighborhoods in Central L.A, is a hot spot thanks to its proximity to amenities and recreational options. You should consider investing in Central L.A. since it has some of the best attractions and a lot of neighborhoods.
Downtown is where all the action is. Nestled between busy freeways, Downtown L.A enjoys high demands for its rentals thanks to its proximity to the financial district, its love for culture, and the multiple establishments.
The area has many entertainment options thanks to its attractions. Walt Disney Concert Hall hosts spectacular events enjoyed by both children and adults. Little Tokyo is rich with Japanese culture in the shops and restaurants. The authentic culture offered here draws in thousands of tourists on an annual basis. Downtown L.A. is richly endowed with amenities that draw in both young couples and professionals.
Silver Lake is one of the most vibrant and attractive areas in Los Angeles. It is one of the more affordable neighborhoods and attracts youth with its large nightlife. Silver Lake is often known for its trendy coffee shops. Coffee lovers would truly love this area since they can have their favorite cup right around any corner of your rental properties.
A local favorite is the Silver Lake Reservoir. It offers a cozy option for any afternoon for those who love the outdoors. It is perfect for a walk or picnic. The area is enticing to outdoorsy types since there are numerous safe jogging paths surrounded by beautiful scenery near investments properties.
South Bay is another one of the affordable neighborhoods with a serene atmosphere. It is surrounded by charming communities with plenty of housing. There are also good schools established in the area. Parents are drawn to this area to ensure their children have the best education and a safe place to grow up.
South Bay is a smaller beach town that provides its residents with the advantage of urban living. There are many organic dining experiences and luxurious shops in close proximity. A first time buyer can quickly find tenants for a single family home, house, or condos, among other investment opportunities in this area.
If you are looking to tap into the quality of life that Los Angeles is known for, there is no better option than Westside. There are few neighborhoods and rental properties that can match up to what Westside has to offer.
This is one of the most sought-after areas in L.A. Westside has the best public services and very clean streets. Also, the property taxes are fair and are comparable to the public services offered in the area.
The restaurants on this side of Los Angeles are quite spectacular with diverse dishes and cuisines. For instance, Mogu Mogu offers amazing ramen and Japanese side dishes. Westside has wonderful weather and has beautiful access to sandy beaches making it very attractive to prospective tenants.
Santa Monica is one of the beach cities in L.A with breathtaking views. Residents enjoy sandy beaches and beautiful pears as well as safe and homey neighborhoods. It also has a very active local government that ensures there is adequate public health services for the residents of Santa Monica.
The roads and parks are usually clean and well-maintained, making this a great place to live for both work and leisure. The desirability for this neighborhood allows a little room for increase in rental prices depending on the investment property.
Beverly Hills is a more expensive neighborhood and is home to many celebrities. This neighborhood has expensive amenities and does cost more for investors. Since Beverly Hills is more expensive, you could charge a higher security deposit and rent to prospective tenants.
However, residents of Beverly Hills can be assured of a serene atmosphere, peaceful environment, aesthetically pleasing pathways, and of course, that elite lifestyle. Living in Beverly Hills means living in luxury, something that certain renters might look for if they want that lifestyle but lack the funds to purchase a home in the area.
Los Angeles real estate is full of great neighborhoods for you to consider investing in. The city has spectacular views and beautiful scenery, restaurants, shopping and entertainment facilities, and the high rental market demand, you will definitely yield profit when you purchase in one of the listed neighborhoods. The investment opportunities in Los Angeles, CA are endless.
Before you make the final choice, rely on a property professional with years of experience in the industry. Westside Property Management has guided several investors over the years and is eager to offer you sound and professional advice on everything from investing, to landlord tenant law and services.