Explore real estate in Northeast Los Angeles (NELA): LA’s better side
Parts of what is considered Northeast Los Angeles, NELA, are technically within the city of Los Angeles (Mt. Washington, Eagle Rock, Monterey Hills and others). And parts are independently incorporated (including Pasadena, San Gabriel, San Marino).
But LA being LA, the lines are blurred. Where the differences between NELA and other parts of LA show up are in real estate values. A 1938 Bungalow in need of work (3 beds, 2 baths) in Santa Monica might list for $1.5 million, while similar-sized Craftsman home, restored and modernized, would sell for $700,000 in Eagle Rock. In fact, if your heart is set on a vintage home, an Arts & Crafts house, in addition to Craftsman, Victorian and Mid-Century Moderns, are extensively found throughout NELA.
This part of the LA metro area is wildly diverse with cultural variety without comparison. A nearly unlimited selection of restaurants – with a full complement of Asian and Latin in all stripes – are what the area is known for. Add to that cafes, specialty stores, galleries, theaters, cinemas, pubs, museums and parks, all within a short drive and sometimes by foot. NELAart, based in Highland Park, continues a long-standing tradition of fostering artists who live in the area, which includes a monthly evening art tour to more than 50 locations – which up to 100 attendees do on bicycle.
With 42 percent of residents foreign born, it’s also a community of strivers. Adults come here to work and open businesses. They also make sure their children get a good education. Several public schools are standouts, earning the highest scores possible by education ratings agencies. Scores of private and parochial schools offer parents choices.
With a well-trained workforce, it should be no surprise that so many employers are based in Northeast Los Angeles. According to a 2013 report by the Los Angeles County Economic Development Corporation, NELA allocates close to 50 percent of its land to commercial and industrial uses. This includes everything from the motion picture industry (on-location and post-production facilities) to retail to educational institutions and heavy industry. Larger employers include Occidental College, the Jet Propulsion Laboratory and the California Institute of Technology, while many residents enjoy a short commute to downtown LA – including by the Metro Gold Line light rail system. The report projects thousands of new jobs will be created here by 2022.
With good schools, growing businesses and an enviable housing stock, Northeast Los Angeles is a smart place to invest in a home. Contact Steve Aranda at 360 Real Estate Group (323-868-6242) about what he knows from 13 years of buying and selling homes in the area.