Neighborhood research: Eagle Rock / Echo Park / Highland Park etc

[Jeff Eames]

Hi all! Looking for our first duplex to house hack in Los Angeles, and would love to hear your thoughts on the Highland Park / Glendale / Echo Park area. Open to expanding a little further south as well, but would love to stay north of the 10/101. How do you go about researching new development going in? Where are the cool new spots going in? Where are the best up-and-coming spots? 

I'm planning to spend some time in the coming weeks driving the neighborhoods, talking to people, checking out the shopping areas, etc. Anything else I can do online to maximize my time when I hit the pavement? Thanks for any advice you can offer!

[Jeremiah Vancans]

Hi @Jeff Eames

All great areas to invest in.  It all comes down to what kind of community you are looking for and what your budget is.  Highland Park has been changing a great deal over the last 10 years and I would say is the most exciting area for change and growth in the immediate future. In Highland Park,  I would check out York Blvd around Ave 50 and Figueroa around Ave 57.  

The biggest challenge I face with owner users and duplexes is most properties come with tenants. You have to consider that most properties in LA that are two or more units are under rent control so you will have to pay for relocation fees if you plan to live in one of the units. Beacause of rent controlled laws, I always recommend considering purchasing a house and converting the garage into an ADU. You could live in the garage and rent out the house.

I'm happy to talk more directly. I have a Highland Park listing coming to market next week that has an ADU. They used it as an Air BnB and have practically covered their mortgage. Short term rentals in these areas are your best bet for highest returns.

Best,
Jeremiah