Walk It Off

     During our first three years in Los Angeles, having moved from Manhattan, we lived on the lower most block of Outpost Drive, in the Hollywood Hills. Periodically, the father of a friend of my 5 year old son would walk past our house in the morning. Rather than simply saying, "Hi," each time he told me, "I have an office just down in Hollywood, so I'm walking there." It gradually dawned on me that he kept telling me this not because he suspected I had no memory but because he was afraid I found it highly suspicious behavior. Indeed, after living here for a while it became clear that walking anywhere Los Angeles  has traditionally not been looked upon with high regard. People seem to only walk here in specifically prescribed areas, like hiking trails, and walking is deemed an activity one has to make an appointment for. Even the Los Angeles police  believe that people who are walking are probably up to no good.
     Shortly after the birth of our daughter, we knew we had to move somewhere kids could learn to ride a bicycle without flying down a ravine and where we could push a stroller someplace, anyplace, and hopefully end up somewhere we could buy a cup of coffee. Clearly someone heard our prayers and a house right around the corner from Larchmont Boulevard became available. Aside from falling in love with the house immediately, the fact that it meant we did not have to get in the car to do everything reduced us to tears of joy. My wife's only hesitancy in moving around the corner from a lovely shopping street with three coffee houses was the fear we'd die of caffeine poisoning within a year. I'm happy to report we have not. I'm equally happy to report that the concept of walking seems to be catching on in Los Angeles; indeed, it may be the wave of the future. And if you're buying a home here, it may become a factor that multiplies the value of your home in the years to come.
     What most residents of the better parts of Los Angeles don't seem to realize is that the monumental increase in the amount of traffic during the past 20 years has done as much to increase the value of their homes as the lowering of interest rates has. The impulse to run off and buy a few shady acres in Hidden Hills and commute to town has gone the way of the ice man. It's no secret that the freeways are now clogged at all times of the day. The streets of the city aren't much better and everyone knows that A: it will only get worse and B: the city government will continue to lag far behind in the development of public transportation. When you have a mayor who makes fewer public appearances than the Queen of England, you have to assume that the powers that be are not so in touch with the needs of the residents.
      So if not having to get in the car to go to the cash machine, buy a carton of milk or have dinner out is appealing to you now, think of how good it's going to look ten years from now.
      Here are a few examples of properties currently on the market in good walking locations....

     If you wanted to be in our neighborhood, there are a couple of interesting choices on the market right now, starting with this totally redone, 3 bedroom plus Guest House Spanish, asking $979,000. There's a good Master suite, a nicely done kitchen...

...and, as I mentioned, a guest house or office out back with it's own bath and a laundry. Or, if you're looking for something to both live in and that is a great investment, there's also a duplex nearby.

     On a great block, it has two 3-bedroom/2 bath units, both with fireplaces, both being delivered vacant and an asking price of $1,300,000.

     If you want to be near the heart of Silver Lake (an area I think still has great upside potential due to its proximity to downtown) there's a gorgeous Spanish with 3 bedrooms and 3 baths...

... that has just hit the market. In addition, there's a guest house with a wine room and a recording studio, not to mention....

...a pool and gorgeous city views. Asking price is $1,399,000.

     Studio City is another good walking neighborhood and there's a great new listing there as well. In Studio City you can walk not only to all the shopping but to a public golf course and tennis courts. There's also a city park that has fantastic organized sports for kids, which I can personally attest to, having spent untold hours there with our son when he was young, through every season of the year.

     This one, asking $1,029,000, is a 4 bedroom/4bath Cape Cod, also with a guest house...

....and also newly renovated....

     The good news about the guest house (besides the fact that it's there)...

...is that the property is zoned as a duplex so, technically, you could legally rent out the guest house.

     The village in the Pacific Palisades is my other favorite walking area, partially because there's a quality to the light in the Palisades that you don't get anywhere else. There's also a  Cape Cod there that's just come on the market, this one with 3 bedrooms and two baths...

...and this one is clearly not renovated. As it has just hit the market, I haven't had a chance to see it. But the listing agent says it has 'good bones' (which probably means lots of carpet) and that it's a great "opportunity to restore/update this well loved home." Okay, lot's of work. It's also kind of a clue that they've supplied no interior pictures and the seller will not make any repairs or pay for any of the work the city requires for closing. Between that and the hefty $1,895,000 price tag, it doesn't come as much of a surprise when they disclose that the agent is related to the seller. But it's a good one to keep an eye on and I'm betting that price will be coming down.

     Should you end up living in any of these properties, remember you certainly won't have to explain to me why you're out walking. In a few more years of increasing traffic, you actually won't have to explain it to anyone.

  Jamie Foreman

        james4man@gmail.com

        323-314-1906