Los Angeles, CA · Member since 2016 · 160 posts · 21 votes
Hello, I've been looking into buying a property in Cypress Park mainly because of what's been going on with the LA River and the potential it brings to the area. Is anyone familiar with Cypress park and the areas surrounding the restoration of the LA River project? I've heard that there will be huge potential in coming years and wanted to see what you guys thought. Will it be that big of a deal? Or is it just hype?
In my opinion it is a big deal. Cypress park has a lot of potential. The only thing is that a lot of times the potential doesn't happen over night --2-3 years. It can happen over 10-15 years.
There's some issues buying there for buy/hold and getting cash flow with rent control. Some potential for flips. i guess it depends on your strategy. I did a SFR flip there in 2015 and made a really good return
They've been discussin LA River revitalization for 30+ years but it seems to be gaining steam, local gov is on board, and they've been approved some funding from the fed
Cyrpress Park and North East LA are really growing as communities, you factor in location with cheaper prices you can see a new influx of a younger hipper crowd. I can definitely see Cypress Park and all of NELA blowing up in a few years.