What $500,000 buys in five L.A. communities
The Los Angeles real estate market may be historically hot, but there are still a few deals out there — if you know where to look. Here are five homes scattered across the city that are on the market for $500,000. That’s well below the Los Angeles County median price of $775,000 in May, according to data firm DQNews.
Vermont Square
One of L.A.’s densest neighborhoods, Vermont Square fits more than 40,000 residents into about 2.5 square miles. There are plenty of colorful bungalows up for grabs from $400,000 to $800,000, and the community also houses the Vermont Square Branch Library — a 108-year-old cream-colored structure built with a grant from Andrew Carnegie that enjoys a spot on the National Register of Historic Places.
The house: Toeing the line between Craftsman and bungalow, this single-story spot draws the eye with a covered front porch wrapped in warm wood. Just about everything is new inside, including the floors, paint, lighting and air conditioning.
The address: 615 W. 50th St., Los Angeles, 90037
The price: $539,000
The specs: Two bedrooms and two bathrooms in 870 square feet
The agent: Kevin Messiha of Keller Williams Downtown L.A.
The median home sales price hit a record $667,000 last month, but there are signs of a slowdown: One index of national home buyer demand is down 14% from an April peak.
Harvard Heights
Harvard Heights lies within a historic overlay zone, which protects its healthy stock of houses built in the 1910s and 1920s. This home is the cheapest single-family option currently listed in the neighborhood; most sell for between $800,000 and $1.2 million.
The house: This place is cozy at a little more than 500 square feet but still fits in a renovated kitchen, breakfast bar, living room and two bedrooms, one of which could be converted into a bonus room. Location is the draw here as the small bungalow sits just south of Koreatown near Western Avenue.
The address: 1142 S. Oxford Ave., Los Angeles, 90006
The price: $495,000
The specs: Two bedrooms and one bathroom in 518 square feet
The agent: Tiffany Chin of Keller Williams Larchmont
Two new studies say the nation’s housing availability and affordability crisis is expected to worsen significantly following the pandemic.
Sylmar
Sylmar marks the top of Los Angeles. The northernmost neighborhood in the city, it sits at the foot of Tujunga Canyon and enjoys plenty of parks and trails that take advantage of the open space. It’s possible to go cheap with a handful of manufactured homes on the market for $100,000 to $200,000. Single-family homes start at around $500,000.
The house: This single-story townhouse with no shared walls is tucked in Heartland, a community of 52 homes in the scenic foothills of Sylmar. The $440 monthly HOA dues cover maintenance, landscaping and insurance and also get you access to the community pool and tennis court.
The address: 13911 Fenton Ave., Sylmar, 91342
The price: $499,900
The specs: Two bedrooms and two bathrooms in 1,148 square feet
The agent: Raquel Magro of Pinnacle Estate Properties
With California’s economy reopening, rent in Los Angeles and other big cities is beginning to rise.
East L.A.
There’s so much to see in East L.A.: the Golden Gate Theater, the Maravilla Handball Court and the oft-overlooked Latino Walk of Fame, a collection of sundial-like medallions that commemorate Latino legends such as Cesar Chavez, Graciela Beltran and José José. There are plenty of homes on the market for around $500,000, and higher-end options are available in the $700,000 range.
The house: Billed as a starter home, this turnkey residence comes with recessed lighting, brand-new appliances and fresh coats of paint both inside and out. Indoor space is scarce at less than 450 square feet, but there’s plenty of room on the 3,800-square-foot lot, complete with a patio, pergola and fenced backyard with a storage shed.
The address: 4251 E. 2nd St., Los Angeles, 90063
The price: $499,000
The specs: Two bedrooms and one bathroom in 448 square feet
The agent: Wonnie Kim of Won Suk Kim Real Estate
Vermont Vista
One of 28 neighborhoods in South L.A., Vermont Vista is a long, narrow stretch of city that borders the 110 Freeway. Homes there are relatively affordable; of the seven properties currently on the market, all are $600,000 or less.
The house: The largest place on the list, this three-bedroom home on a corner lot has a few surprises inside, including a rock-wall living room and crimson-tile bathroom. There’s some curb appeal as well, as a brick front porch offsets the bright-blue exterior.
The address: 200 W. 107th St., Los Angeles, 90003
The price: $490,000
The specs: Three bedrooms and three bathrooms in 1,300 square feet
The agent: Louis Digonzini of the Digonzini Group.
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