Los Angeles Gentrification - Northeast LA or Inglewood area?

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Los Angeles Gentrification - Northeast LA or Inglewood area?

Will F.
Investor · Los Angeles County, CA · Member since 2012 · 962 posts · 279 votes

Northeast LA(NELA)/ Downtown vs Inglewood/South Bay --as far as "gentrification areas" within LA County. 

Are you guys hotter on the Inglewood area or Northeast LA/ Downtown Los Angeles?

Inglewood is closer to the beach cities and West-side, which are already high cost/high demand areas. But I see so much building going on in downtown and spreading to the East side/NortheastLA (future "hipsterville" areas?) that I'm kind of hotter on the future of Northeast/ Downtown outskirts.

I feel that anything that affects Downtown LA will have immediate impact on NELA.

The Northeast LA/ downtown area also have future projects like the Los Angeles River Revitalization, and a new convention center.  There are high-rises under construction on every street corner of LA, which could have direct impact on cities directly surrounding Downtown.

What do you all think as far as desirability, future appreciation, potential of NELA vs Inglewood/(east of LAX) area?

(disclaimer-After re-reading my post I am a bit biased towards NELA, as that is the area I've been researching recently. What's funny is I own and started in the South Bay, but I don't have as much knowledge of the area north of Torrance)

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Matt R.
Sherman Oaks, CA · Member since 2013 · 3k+ posts · 2k+ votes
10y

@Will F. Both look promising and it seems like NELA is hotter and coming. Inglewood is more in the possible up and coming phase. For me if I lived in the South Bay I would favor Inglewood/Lawndale/Hawthorne for the drive time part otherwise NELA has much more cultural demand today.

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  • Shamim Toufighian
    Freelance Interactive Developer / Investor · Los Angeles, CA · Member since 2015 · 66 posts · 19 votes
    10y

    I'd love to hear what others think as well. NELA is the area I'm looking into at the moment. The LA River Revitalization project is definitely something I'm interested in.

    1Reply
  • Matt R.
    Sherman Oaks, CA · Member since 2013 · 3k+ posts · 2k+ votes
    10y

    @Will F. Both look promising and it seems like NELA is hotter and coming. Inglewood is more in the possible up and coming phase. For me if I lived in the South Bay I would favor Inglewood/Lawndale/Hawthorne for the drive time part otherwise NELA has much more cultural demand today.

    2Reply
  • Anthony Johnson
    Inglewood, CA · Member since 2014 · 74 posts · 17 votes
    10y

    @will f. 

    You are right the NE DTLA area is getting some major attention.  I heard an story a couple weeks back regarding the matter NPR radio show, however, they made no mention of the River revitalization or I was not paying attention.  They did make mention of the historical bridge revitalization, the one connecting DTLA to NELA area...and the plans to revamp Pershing Square.

    Still, I do not think it will compare to the development going on in Inglewood.  The have plans to revitalize the Hollywood park casino and surrounding lot, ALL 200+ACRES OF IT!!!  All to the tune of $1.8BILLION. I AM NOT A PROFESSIONAL-REAL ESTATE-ANYTHING outside of being an Inglewood homeowner and I can tell you that the construction has already begun on a 300 room hotel, major streets (century and prerrie and homes have gone up 

    https://www.redfin.com/CA/Inglewood/9521-S-3rd-Ave...

    https://www.redfin.com/zipcode/90305#!region_id=37....   

    Also, the Crenshaw/lax transit is underway and public transportation is always a plus.  This a quote straight from metros website "A January 21, 2014 groundbreaking ceremony, attended by members of the community, Metro officials, and local, state and federal representatives, marked the official beginning of construction on the $2.058 billion Crenshaw/LAX Transit Project."

    This is the rest of the article: 

    https://www.metro.net/projects/crenshaw_corridor/

     http://media.metro.net/projects_studies/crenshaw/i...

    corridor is under way and public transportation is always a plus.  

    Let me not for get to mention the Newly revitalized Madison Square Garden owned Inglewood Forum which Hosted the likes of Fleetwood Mack, Justin Timberlake, Janet Jackson, Sam Smith, the Eagles, Pepe Agular, Kevin Hart just to name a few, all with in the last 2 years 

    http://www.fabulousforum.com/about.html

    http://www.fabulousforum.com/content/forum/home.ht...

    This is what the LA TIMES has to report about the approved for building NFL Stadium:

    http://wilsonmeany.com/press-item/inglewood-nfl-st...

    This is a visual and some detailed info about the project: http://wilsonmeany.com/project/hollywood-park/?typ...

    More info:

    http://www.hollywoodparklife.com/category/project-...

    I calculate $3BILLION going towards Inglewood and surrounding cities.  I hope it helps.

    2Reply
  • Bana Haffar
    Real Estate Agent · Los Angeles, CA · Member since 2014 · 11 posts · 9 votes
    10y

    I vote for NELA and Boyle Heights from the rental property angle. The proximity to DTLA allows you to attain strong rents by targeting those who cannot afford to pay $3k for a concrete box in DTLA. Some noteworthy developments that will be game changers for the area are the Los Angeles State Historic Park renovation, slated to open in Spring of 2016, the Six Street Viaduct connecting Boyle Heights to the Arts district, and Regional Connector Transit project in Little Tokyo allowing commuters to bypass Union Station and travel from East LA to Santa Monica without transferring lines. 95% of my business is in these areas. 

    2Reply
  • Jennifer S.
    Real Estate Broker · Tampa, FL · Member since 2015 · 70 posts · 35 votes
    10y

    Downtown definitely more gentrified (which has effected NELA as you mentioned Will). If we compare Downtown and Inglewood, I say Downtown. Essentially you're comparing two areas with major sports arenas (Dwtn has Staples Center and Inglewood has the possible arrival of a new NFL team). 

    However Dwtn had a 20+ year head start, so they are by far more gentrified. The opening of Staples Center is what really put Downtown on the map much like the stadium will do for Inglewood. Once Inglewood is able to secure an NFL team, I will consider that the turning point for Inglewood. Downtown also just opened their first Whole Foods which is a key sign that it's becoming more affluent and gentrified. Not to mention that if you read food reviews from national food critics, they always have their favorites in Downtown. The Broad museum just opened this past year. You will also start to see world-class parks and shopping centers built over the next 5 years, making Downtown a place where people from all over the world will want to go. Will, you also mentioned the revitalization of the LA River which will be huge. I don't see developers, restauranteurs, and investors putting their money in Inglewood in the same fashion. As a result, Downtowns price/sq foot is unreachable for most. This is now bubbling over to the outskirts of Downtown like the Arts District which will also effect NELA.

    Seven or eight years ago Downtown couldn't pay people to live there, so in terms of appreciation, I'd say Downtown until Inglewood gets their NFL team. 

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  • Melvin Martinez
    Rental Property Investor · Inglewood, CA · Member since 2015 · 24 posts · 12 votes
    10y

    I agree with Jennifer's comments above but also believe it depends on what your goals are for your purchases. While Inglewood will have the Hollywood Park project completed in a few years,  that's all thats currently going on in Inglewood. NE LA is around much more established and sought out neighborhoods with much more proximity to attractions and continuous construction. This in turn makes it a destination city with entrepreneurs pouring money into their businesses in that area. Many people are constantly bringing up the Hollywood Park project for Inglewood and while the surrounding homes have increased they have not increased at the same high rates as Los Angeles. The Hollywood Park project also is located in a single area while Los Angeles has far more projects within the surrounding areas along with the intersection of freeways going on. There was a study that was posted a few weeks back showing the growth of cities which I cant seem to find but showed the continuous growth of Los Angeles sections which has continously increased in worth. Inglewood seems good short term growth while NE LA seems like great long term growth. If you're in it for the long haul go NELA, if you want to cash out/reinvest in a few years go Inglewood. Good luck!

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  • William Sutton
    Real Estate Professional · Los Angeles, CA · Member since 2015 · 1 post · 0 votes
    10y

    I keep reading of folks referring to Inglewood as "up and coming" and as if it's not "gentrified". Have you seen all those middle class homes  and neighborhoods in Inglewood. You think they sprung up overnight? Seems like they have a pretty deep rooted middle class African-American population, so what gentrification do some of you commenters propose to bring to the area? I just moved here about 4 years ago, from the East Coast, Harlem to be exact. And one can quickly observe that Los Angeles is deeply segregated. Where do you think all the African-American professionals have been living all this time. Oh I get it, they're invisible to you.

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  • David Faulkner
    Investor · Orange County, CA · Member since 2015 · 2k+ posts · 3k+ votes
    10y

    IMHO the time to speculate on such things is when the market tanks, not when it is hot. Then you buy at a steep discount from the speculator that bought in at the peak and had the right location (hopefully) but the wrong timing (definitely). Hold cash flow positive until the market rebounds, make money on mean reversion of prices + a nice bonus if your speculation about the neighborhood was right. There are other REI strategies that work in hot markets, but I think this one is dangerous. "Only when the tide goes out do you discover who's been swimming naked." - Warren Buffett

    1Reply
  • Anthony Johnson
    Inglewood, CA · Member since 2014 · 74 posts · 17 votes
    10y

    @Will F., @Shamim Toufighian,

    I hope all is well.  I just closed on my property in Inglewood.  I received multiple offers, picked the top 15 with my wife and savvy realtor, then narrowed that down to the best and strongest buyer.  All in all, we was in escrow in 2weeks and we got $30k over asking...Not bad.  I think Inglewood is definitely a hot market.

    Also, I can promise you all types of backgrounds came out to the open house, the parking was horrible that weekend.  And, yes it was only a two day open house.  The offers was amazing and the caliber of buyer was great.  In the end it was a "win-Win" for all parties involved...us, the buyer, and the neighborhood.  Check into the Morning Side Park area.   

    2Reply
  • Clarence Johnson
    Real Estate Agent · Inglewood, CA · Member since 2015 · 294 posts · 150 votes
    10y
    Originally posted by @Anthony Johnson:

    @Will F., @Shamim Toufighian,

    I hope all is well.  I just closed on my property in Inglewood.  I received multiple offers, picked the top 15 with my wife and savvy realtor, then narrowed that down to the best and strongest buyer.  All in all, we was in escrow in 2weeks and we got $30k over asking...Not bad.  I think Inglewood is definitely a hot market.

    Also, I can promise you all types of backgrounds came out to the open house, the parking was horrible that weekend.  And, yes it was only a two day open house.  The offers was amazing and the caliber of buyer was great.  In the end it was a "win-Win" for all parties involved...us, the buyer, and the neighborhood.  Check into the Morning Side Park area.   

    Why did you sale?  I'm local, I may have actually shown your home to some clients of mine.  Both areas are changing,  but I'm glad someone else on the ground can attest to what's going on on our side of town.  

    1Reply
  • Anthony Johnson
    Inglewood, CA · Member since 2014 · 74 posts · 17 votes
    10y

    @Clarence Johnson,

    thanks for reaching out.  It was right time for us.  The purpose of the home was to use as a starter in order to get the ball rolling for real estate investment capital.  We did not expect it to appreciate the way it did, but were very grateful for it. Now, could we have gotten more if we held out? yes.  But we can not tell what tomorrow will bring and this was our exit strategy from the beginning.  Now we can pay off all our debts and TRULY save and invest. 

    And, I am in agreement with you.  More of us should come out and give true testimonials of Inglewood and how the real estate and the City has a whole has changed.  It is far too many affluent individuals and families that make up Inglewood and are not represented.  It paints the wrong picture in humble opinion.  

    Happy REI'ing

    1Reply
  • Darya Attar
    Investor · Los Angeles, CA · Member since 2016 · 3 posts · 0 votes
    10y

    What is the area north of Centinela, East of La Cienega and West of La Brea. It is a beautiful area with lots of nice well cared for homes. Is that still Inglewood? How is the school in that area?

    0Reply
  • Will F.
    OP
    Investor · Los Angeles County, CA · Member since 2012 · 962 posts · 279 votes
    10y

    @Darya Attar If it's the  hill area that might be Windsor Hills/ view park  but I'm not positive.  I'm pretty sure that area is fairly expensive already

    PS as far as the 6th street bridge I read that they are demoing and are ahead of schedule... now that's a surprise

    0Reply
  • Anthony Johnson
    Inglewood, CA · Member since 2014 · 74 posts · 17 votes
    10y

    @Darya Attar,

    @Will F. is right.  That area you're talking about is Windsor Hills/View Park.  It actually goes further N/E than you think.

    0Reply
  • Brian Lacey
    Rental Property Investor · Hailey, ID · Member since 2015 · 218 posts · 143 votes
    10y

    http://www.businessinsider.com/rams-inglewood-stad...

    I'll vote for Inglewood.

    1Reply
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