Spotlight on Ladera Heights, Los Angeles, CA
Ladera Heights is a diverse and highly desirable sub-market of what is commonly known as the “Westside” of Los Angeles. Often referred to as a “hidden” neighborhood, Ladera Heights is bordered by the neighborhoods of Baldwin Hills to the north, Inglewood to the south, Windsor Hills to the east, and Culver City to the west. The submarket is composed of 2.94 square miles and home to only 6,509 people, placing it among the lowest population densities for Los Angeles County.
A small, quiet area of Los Angeles, Ladera Heights continues to be home for many successful young professionals and families. Residents are highly educated with over 54% of residents possessing a four-year degree and 19% having earned a master’s degree. An additional demand driver for the area is its accessibility to the Westside, offering multiple public transportation options and easy access to interstates
405 and 10.
The featured properties in this month’s rent and sales survey represent 12 apartment communities which embody the age and class of buildings in the Ladera Heights submarket. The rental market continues to gain momentum due to its proximity to the incoming Los Angeles Rams stadium, and residents being pushed out from higher rent markets. For a one-bedroom, renters can expect to pay rent between $1.50 and $3.00 per square foot, depending on the year the property was built and its location. Two- and three- bedroom units from $1.35 to $2.75 rent per square foot. As with many emerging submarkets, speculation impacts sales pricing significantly. Ladera Heights is no exception. Typical recent trades exhibit per unit prices between $150,000 and $200,000; however, in some cases trades have been seen above $250,000. For more information on these trades, please contact Everett Wong or John Mullen at Greysteel.