Franklin Hills - A Perfect Location For A New ADU
Located in Los Feliz just east of Los Feliz Village, Franklin Hills is a coveted residential neighborhood. Residents love the neighborly atmosphere and homes that include a mix of mid-century and arty bungalows as well as Spanish homes. It is a great place to hide away from the rustle and bustle of Hollywood, all while walking distance to either Sunset Junction or Los Feliz Village. The perfect mix of private and fun! One of the staples of Franklin Hills is the Shakespeare Bridge, which is a romantic bridge linking two hills on Franklin Avenue.The things to do and see in Franklin Hills are definitely tailored to this diverse population. There is something for everyone to enjoy. Building an ADU (accessory dwelling unit) in Franklin Hills will increase your current property value by $150,000 - $250,000.
Why is the market for ADU’s trending In Franklin Hills?
1. Pedestrian and Pet Friendly
Franklin Hills now has bike lanes, crosswalks, and many pedestrian walkways, which are perfect for residents who prefer to get around on foot. Many of the residential communities in Franklin Hills feature their own private dog parks, but there are three very new and well-maintained dog parks offered to locals in both the community and the surrounding neighborhoods. Seeing people walk their dogs in the area is not uncommon. Franklin Hills is in walking distance to all of the fabulous restaurants, cafes and shops on Hillhurst Avenue and Vermont Avenue. It is also close to the stunning Griffith Observatory.
ADU’s are small living units that are usually around 1,500 square feet. Within the past few years, over 3,000 new ADU’s have been built for thousands of homeowners. Why? Because it works.Not only are homeowners looking to build more ADU’s in the area, but renters are looking for more private alternatives to apartments in which they can have their own personal space. Rather than paying rent for a small apartment, a tenant would prefer having their own small home. As a homeowner in the area, making an investment in building an ADU will pay off as tenants are ready to move in.
Franklin Hills Demographics
With a population of 44,000 people and 21,000 housing units that were built before 2010, it makes sense that ADU’s built after 2018 are so sought after due to their affordability as well as modern build.
Median Income - $68,000
Median Age - 38 years old
Average Home Price - $800,000
How Much Can I Rent An ADU In Franklin Hills For In Today’s Market?
The average ADU in Franklin Hills rents for about:
Studio ADU- $2000/m
1 Bed 1 Bath ADU- $2200/m
2 bed 2 bath ADU- $2600/m
3 bed 3 bath ADU- $3200/m
ADU Walkability Score In Franklin Hills
The ADU walkability score is measured by walking distance from your new ADU to these attractions, the closer you are to these locations the more your future tenant will pay for rent.
Ofri Peretz (818) 569 - 9947 actively looks for homes with ADU potential. She also had multiple homes sell for over asking in Franklin Hills before and after the unit was built. When renting out your newly built ADU, hiring a realtor can make the process a breeze. When an agent is hired, they can create a listing for you, help check out the applicants, and manage the other aspects of renting so you don’t have to worry about it. A realtor may also increase the amount of rent you can receive monthly for your ADU.
Neo Builders Inc. is an experienced construction company with a specialty in building ADU’s. Building an ADU with Neo Builders will increase your monthly cash flow in a stress free and organized process. Don’t wait, make the call today for a step towards financial freedom. An initial consultation and quote are totally FREE of charge. If you would like to understand Los Angeles ADU laws click here NEO Builders
For All Your ADU Needs
NEO Builders Inc.
3940 Laurel Canyon, Studio City #394, 91604
License #: 10611