Rent Demand: Thousand Oaks vs Santa Clarita

California Real Estate Q&A Discussion Forum
6yFollow

Rent Demand: Thousand Oaks vs Santa Clarita

Paul Wolfson
Los Angeles, CA · Member since 2019 · 77 posts · 32 votes

I'm looking to buy a SFH, preferably with a detached garage to convert to an ADU.

Some houses in Thousand Oaks have detached garages, but Santa Clarita has none. It would be more expensive to build an ADU from the ground up compared to converting an existing detached garage.

Having said that, my concern is that Thousand Oaks has less rent demand than Santa Clarita, and that i would be harder to find tenants.

Which city has higher rent demand and what resources can you recommend to compare rent demand?

0Reply
45 views

Most Popular Reply

Nabil SuleimanBusiness Member
Real Estate Agent · Los Angeles, CA · Member since 2016 · 596 posts · 299 votes
6y

@Paul Wolfson You may enjoy the school system demand in SCV more, TO is great but not all their school through all the grades. dealing with the city for your ADU In Scv might also be interesting, I don't know anyone who has done one out there yet.

[email protected]661-904-1725
Atlas Elm | Nabil Suleiman4.47 Reviews
WebsiteView Page
1Reply
See this reply in the discussion

11 Replies

Jump to latestLatest
  • Aaron K.
    Specialist · Riverside, CA · Member since 2015 · 6k+ posts · 3k+ votes
    6y

    @Paul Wolfson you'll have plenty of demand in both.

    0Reply
  • Nabil SuleimanBusiness Member
    Real Estate Agent · Los Angeles, CA · Member since 2016 · 596 posts · 299 votes
    6y

    @Paul Wolfson You may enjoy the school system demand in SCV more, TO is great but not all their school through all the grades. dealing with the city for your ADU In Scv might also be interesting, I don't know anyone who has done one out there yet.

    [email protected]661-904-1725
    Atlas Elm | Nabil Suleiman4.47 Reviews
    WebsiteView Page
    1Reply
  • Justin R.Pro Member
    Rental Property Investor · San Anselmo · Member since 2015 · 659 posts · 600 votes
    6y

    I have a couple rentals here in the Thousand Oaks area. Thousand Oaks is home to one of the best school districts in the nation, safest towns in American (minus the horrible incident in 2018) all while having a similar commute to LA/Valley area as Santa Clarita.

    I just rented a small SFD here in Thousand Oaks for $3,250 a month first day on market last October. 

    You can find detached garages here in TO, but they are few are far between. Most detached garages are on properties built between 1920 and 1965, which is early for both TO and SCV.

    1Reply
  • Paul Wolfson
    OP
    Los Angeles, CA · Member since 2019 · 77 posts · 32 votes
    6y

    @Nabil Suleiman @Justin R. my family is looking to move into a safe neighborhood with great schools. Additionally, looking for homes with detached garages. Any recommendations of which neighborhoods to look into?

    0Reply
  • Matt R.
    Sherman Oaks, CA · Member since 2013 · 3k+ posts · 2k+ votes
    6y
    Originally posted by @Paul Wolfson:

    @Nabil Suleiman @Justin R. my family is looking to move into a safe neighborhood with great schools. Additionally, looking for homes with detached garages. Any recommendations of which neighborhoods to look into?

    I would say TO is a notch above SCV. I assume TO has higher sqft and rentals prices. Perhaps check what's available in Granada Hills. Good luck!

    1Reply
  • Nabil SuleimanBusiness Member
    Real Estate Agent · Los Angeles, CA · Member since 2016 · 596 posts · 299 votes
    6y

    @Paul Wolfson I would check out goodschools.org to see what neighborhoods in TO are jumping out at you. Don't get me wrong I love TO, but in terms of higher grade schools consistently across the board, SCV will exceed TO. SCV has a lot of different neighborhoods that some people like more than others. But Newhall and Canyon country have some of the oldest homes in the area where it would be more likely you could find homes with detached garages. Additionally bang for your buck wise you will get more out of SCV then majority of TO. 

    Side note: You may also be able to find parts of Saugus that will have some older homes but Im trying to think about which ones may have detached garages and none are coming to mind, but as you get further back down bouquet you may be able to find them.

    [email protected]661-904-1725
    Atlas Elm | Nabil Suleiman4.47 Reviews
    WebsiteView Page
    0Reply
  • Rick Albert
    Real Estate Agent · Los Angeles, CA · Member since 2018 · 2k+ posts · 1k+ votes
    6y

    I've been wondering the same question.  T.O. does have Amgen, but from what my Amgen clients have told me, many of the younger employees are actually commuting from Santa Monica.

    The other thing to factor in is SCV is part of LA County, which is going to be more difficult for evictions due to it being packed.  That's what one eviction attorney told me.

    Also factor in the cost, time, and guidelines for the ADU conversions. It might be more realistic in one area over another.

    I would go with where they are also building. I have a house with ADU in Granada Hills and so far so good. My wife and I live in the ADU and we rent out the main house.

    Happy to discuss with you further if you would like.

    0Reply
  • Paul Wolfson
    OP
    Los Angeles, CA · Member since 2019 · 77 posts · 32 votes
    6y

    @Rick Albert thanks for your input. Houses in SCV are on average about 50-100k less than TO and Granada Hills. A house in the TO neighborhood I’m looking at with a detached garage on average costs about 750k. SCV on the other hand doesn’t have houses with detached garages but on average houses are 650k. I ran some numbers and discovered that it would cost me about the same to either:

    1. Buy a TO property with a detached garage for 750k. Plus 80k for ADU conversion.
    2. Buy SCV property without a detached garage for 650k. Plus 120k to build ADU from scratch. 

    Since the renter of an ADU would likely be a young professional, I’m wondering if TO or SCV has more/better job opportunities. 

    As for Granada Hills, house prices are about the same as TO so I wouldn't be able to afford to build an ADU from scratch there. Only if a property already came with a detached garage. Also I'm a little worried about the Alisso Canyon gas leak. Did they fully shut it off?

    1Reply
  • Rick Albert
    Real Estate Agent · Los Angeles, CA · Member since 2018 · 2k+ posts · 1k+ votes
    6y

    My understanding is the gas line has been fully shut off, but I can't say for sure.

    Unless you are your own contractor, the garage conversion might cost closer to $100K. For Los Angeles, the architectural plans, structural engineer, permits, and survey alone might cost you closer to $10K. Plus (at least for Los Angeles), the ADU has to have it's own sewer line. That's another $8K-$10K. And we haven't even touched the inside of the garage yet.

    0Reply
  • Matt R.
    Sherman Oaks, CA · Member since 2013 · 3k+ posts · 2k+ votes
    6y
    Originally posted by @Paul Wolfson:

    @Rick Albert thanks for your input. Houses in SCV are on average about 50-100k less than TO and Granada Hills. A house in the TO neighborhood I’m looking at with a detached garage on average costs about 750k. SCV on the other hand doesn’t have houses with detached garages but on average houses are 650k. I ran some numbers and discovered that it would cost me about the same to either:

    1. Buy a TO property with a detached garage for 750k. Plus 80k for ADU conversion.
    2. Buy SCV property without a detached garage for 650k. Plus 120k to build ADU from scratch. 

    Since the renter of an ADU would likely be a young professional, I’m wondering if TO or SCV has more/better job opportunities. 

    As for Granada Hills, house prices are about the same as TO so I wouldn't be able to afford to build an ADU from scratch there. Only if a property already came with a detached garage. Also I'm a little worried about the Alisso Canyon gas leak. Did they fully shut it off?

    My friend recently did a detached garage conversion vanilla job for around 33k all in. He was the gc as they say but it was mostly all farmed out. Good luck! 

    0Reply
  • Shawn MoreyPro Member
    Property Manager · Burbank, CA · Member since 2009 · 74 posts · 19 votes
    6y

    As discussed, there are few if any detached garages in SCV. 

    We have been working on a couple of ADUs there for clients and they have not been easy to get done at all! One of them is not moving forward anymore, because there was so much confusion in the planning department there about the new regulations and how are they enforcing them

    1Reply
Join the conversationCreate a free account to reply, vote on answers and follow this thread.
Log InJoin for Free