Single Family Homes in Highland Park

highland-park-york-50A lot of my young friends are asking how much it costs to own a home in Highland Park. Well, more than you think, and by the time you’re actually ready to buy, more than it does today. Investors low and high are trying to flip homes in Highland Park, turning rugged, plaster-molting abodes into dream starter houses.

Now, there’s not exactly a dearth of inventory in Highland Park, it’s just that there are so many buyers. Flippers are stealing the $300K deals and turning them into $550K sales.  Expect each of those numbers to climb $50K over the next year.  I want to give my friends hope about FHA loans, but that’s getting increasingly less feasible because of the competition.

There are some houses that are government owned – often FHA-backed loans that went south – like the townhouse I posted about.  They sometimes provide a window for only buyers with FHA-backed loans to make offers on the property.  If you sign up for my email list below, I’ll email you if I see a good one.

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La Brea & Venice

4822-Pickford

4822 Pickford St.

There’s a slow gentrification creep right now moving southeast from Pico & Fairfax. A cornerstone of the “trendification” is the relatively new and lovely Paper or Plastik café and adjoining MiMoDa dance studio, whose owners I happen to know and adore. As these rent increases start to move, it makes a property like 4822 Pickford St. a viable investment option.

Just southeast of Venice and La Brea, this triplex (listing at $499K) has decent rents for the area, with a lot of upside. It’s available now. If you want to know more about these numbers, email me.

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