In what area you can buy real estate in Los Angeles at a profit
Los Angeles is a huge metropolis in the United States, which includes 272 districts and small towns. It is the world center of the film industry and home to a huge number of celebrities. And it is also profitable to invest in the city and consistently receive high income. One of the popular options is to buy real estate in Los Angeles and rent it out.
Despite the large number of metropolis districts, there are a number of the most famous ones. Among them are Beverly Hills, Hollywood, Malibu, Santa Monica, Pasadena and others.
Beverly Hills is a separate city within Los Angeles. It is home to many actors, directors and film industry workers. There is a developed infrastructure, a huge number of boutiques and shopping centers, good schools. The cost of real estate in Beverly Hills is high. On average, the mansion will cost 4.27 million dollars. The price of real estate located in the hilly part of the town is higher than in the plain.
Hollywood is a concentration of stars and film companies. Here, day and night, life is full of people, and there are more tourists than locals. The neighborhood is a cultural and entertainment center, it is famous for its many art galleries, nightclubs and restaurants. And Hollywood also has a strong Armenian Diaspora – about 25% of the population is occupied by this ethnic group. The second largest in the U.S. after New York, the Russian Diaspora is represented here by 14 percent of the population. The average real estate value in this area of Los Angeles is 739.3 thousand dollars. The mansion will cost approximately 1.585 million dollars, and the apartment will cost 685 thousand dollars.
The famous resort in the western district of the metropolis – Malibu. On the beaches, which are 17 km long, families love to relax, and the ocean waves are conquered by a huge number of surfers. Malibu boasts a developed infrastructure, cleanliness and coziness of a small town. It is no wonder that many people move here for permanent residence. You can buy a mansion in Malibu for 2.86 million dollars, and the average price of an apartment is 850 thousand dollars.
Pasadena is famous for the Parade of Roses, which attracts a huge number of tourists. The festival has been held every year since 1890. The architecture of the town also deserves attention. There are many ancient mansions, which are harmoniously combined with modern real estate. The average cost of housing in Pasadena is 721.4 thousand dollars.
Santa Monica is a resort that is distinguished by fresh air and comfortable temperature all year round. The town also boasts huge shopping centers and entertainment facilities. A mansion here will cost about $3 million, and an apartment – $ 895 thousand.
It is worth understanding that in a city like Los Angeles, you should have a round sum to buy real estate. But at the same time, the metropolis opens wide opportunities, and your investment will quickly pay off.