What $400,000 buys in five L.A. neighborhoods

Written by MLHA Team

July 31, 2021

Unless you’re looking for raw land or a years-long renovation project, $400,000 won’t go too far in L.A.’s single-family housing market. L.A. County’s median home price soared to a record $790,000 in June, and according to Zillow, the average home value in the city is hovering around $882,000.

With starter homes going for $500,000 to $1 million in most L.A. neighborhoods, condos can be a more affordable path to homeownership, and there’s a healthy dose of options across the city. Here’s a look at what $400,000 buys in five L.A. communities.

Echo Park

A colorful array of bungalows, duplexes and apartment complexes populate the hills of Echo Park, a dense neighborhood that houses Echo Park Lake and the stately Victorian homes of Angelino Heights. New development is driving up prices across the community, and the handful of condos on the market there cost between $400,000 and $700,000.

The space: Bright and sunny, this Midcentury space with white oak floors and butcher block counters is part of a “tenancy in common” building, which means residents share ownership and maintenance of the property with other residents. A perk of that setup is the community pool surrounded by white brick and redwood decks.

The address: 2135 Bellevue Ave., #2, Los Angeles, 90026

The price: $399,000 with $287 monthly HOA dues

The specs: One bedroom and one bathroom in 640 square feet

The agents: Elizabeth McDonald and Cristina Brow of TRG Realty Co.

Downtown L.A.

Like many vertical-living communities, downtown L.A. became slightly less attractive during the pandemic as offices shut down and buyers opted for single-family spaces while working remotely. For home shoppers, that means plenty of condo options in every part of the community. The best of the best run north of $10 million, but you can find a healthy supply of units starting around $350,000.

The space: Steel-framed windows and exposed concrete walls bring an industrial feel to this artsy loft perched above Pershing Square. It’s found in Shybary Grand Lofts, a renovated 1920s building with amenities including a gym, concierge, rooftop pool, spa and sundeck.

The address: 312 W. 5th St., #619, Los Angeles, 90013

The price: $400,000 with $286 monthly HOA dues

The specs: One bedroom and one bathroom in 650 square feet

The agent: Brian Treitler of Nourmand & Associates

Koreatown

Mapping L.A. puts this condo in Koreatown, a central L.A. neighborhood filled with Art Deco architecture and a food scene that makes regular appearances on The Times’ list of 101 best restaurants in Los Angeles. It can be cheap to rent and cheap to own as well, with multiple homes available for about $300,000.

The space: A checkered-tile hallway leads to this top-level condo complete with coved ceilings and a dramatic wall of exposed brick. It’s one of eight units in a 1920s Art Deco-style building and shares a garden patio in front and a rooftop dining deck up above.

The address: 211 S. Berendo St., #6, Los Angeles, 90004

The price: $425,000 with $384 monthly HOA dues

The specs: One bedroom and one bathroom in 762 square feet

The agents: Elizabeth McDonald and Cristina Brow of TRG Realty Co.

Toy District

The unit sits atop the Little Tokyo Lofts, a complex that’s just south of Little Tokyo in the Toy District, which spans 12 blocks in the eastern part of downtown L.A. Every condo up for grabs in the Toy District is in the same complex, and this is the cheapest by far.

The space: Striking concrete columns run from floor to ceiling in this penthouse with a lofted bedroom and a private balcony. The building itself enjoys Mills Act protection, which helps save on property taxes.

The address: 420 S. San Pedro St., #631, Los Angeles, 90013

The price: $397,000 with $587 monthly HOA dues

The specs: One bedroom and one bathroom in 690 square feet

The agent: Corey Chambers of Realty Source Inc.

Tarzana

The mansions of Tarzana are often a landing place for actors and athletes, but the San Fernando Valley suburb has lots of options in every segment of the market. There are always more single-family homes up for grabs than condos, but the few condos available can run as low as the $200,000 range.

The space: The largest on the list, this spacious unit sits on the top level of a two-story building and has tall cathedral ceilings. There are hardwood floors in the living spaces, carpet in the bedrooms and a private balcony overlooking the neighborhood.

The address: 5620 Yolanda Ave. #204, Tarzana, 91356

The price: $399,000 with $312 monthly HOA dues

The specs: Two bedrooms and two bathrooms in 940 square feet

The agent: David Becker of Rodeo Realty

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