Lake Balboa is an LA neighborhood that is both perfect for suburban family oriented residents as well as young professionals. Lake Balboa is a wonderful city located in the heart of LA County. The neighborhood is safe, family-friendly, beautiful, and affordable for living. Since it is located in the San Fernando Valley, the city of Lake Balboa always delivers magnificent weather, so the climate is absolutely perfect. There is something for everyone to enjoy. Building an ADU (accessory dwelling unit) in Lake Balboa will increase your current property value by $160,000 - $300,000.
Why is the market for ADU’s trending In Lake Balboa?
1.The Japanese Garden
A huge garden that is actually three gardens wrapped into one. There's a Zen meditation garden containing Tortoise Island, a three-Buddha arrangement of stones, plus a wisteria arbor. Next is an expansive Chisen or “wet-strolling” garden with waterfalls, lakes and streams, greenery, and hand-carved stone lanterns. At the end of this path is the Shoin Building, which has an authentic tatami mat teahouse and adjacent tea garden. But before you rush to hand over the entry fee ($5 for adults, $3 for kids under 12) for a relaxing stroll.
2. Outdoor Activities
Lake Balboa is surrounded by several areas of lush parkland, including the 5-acre Los Encinos Park, Sepulveda Dam, and Sepulveda Gardens. Dog owners can enjoy the Sepulveda Basin Dog Park. There’s also a sports complex with a baseball field and several golf courses. In short: there’s plenty to do outdoors. Balboa Park has every type of sport field imaginable as well as a beautiful lake.
Lake Balboa Demographics
With a population of 50,000 people and 20,000 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 - $56,000
Median Age - 39 years old
Average Home Price - $550,000
How Much Can I Rent An ADU In Lake Balboa For In Today’s Market?
The average ADU in Lake Balboa rents for about:
Studio ADU- $1300/m
1 Bed 1 Bath ADU- $1500/m
2 bed 2 bath ADU- $2000/m
3 bed 3 bath ADU- $2500/m
ADU Walkability Score In Lake Balboa
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 Lake Balboa 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 #: 1061134