One of the most overlooked neighborhoods in Los Angeles, Picfair Village is a great place to build an ADU if you are a homeowner looking to increase your cash flow. Young professionals looking to purchase their own home love Picfair Village due to the fact that it is both affordable and suburban. Building an ADU (accessory dwelling unit) in Picfair Village will increase your current property value by $150,000 - $250,000.
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Why is the market for ADU’s trending In Picfair Village?
Picfair Village feels like you are living in a hustling downtown area while still being in the Mid-LA area. It is very well maintained by the residents. Picfair Village is great for people who have young kids to be outside and safe. The community prides itself on its safety.
2. Food Scene
Picfair Village has some of the best bars in Los Angeles. Most of the bars are gastropubs which include food and are a great place to sit and grab a bite to eat with your drink. Restaurants are popping near the area and have lots of new, trendy cafes that are the place to be.
ADU’s are small living units that are usually between 200-1200 square feet. Since September 2020 the state of California has made it easier for home owners to permit and build new units. Why? Because it works. The housing shortage is finally being privatized and its single family home owners that will finally win. 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.
Picfair Village Demographics
With a population of 50,000 people and 35,000 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 - $45,000
Median Age - 35 years old
Average Home Price - $500,000
How Much Can I Rent An ADU In Picfair Village For In Today’s Market?
The average ADU in Picfair Village rents for about:
Studio ADU- $1300/m
1 Bed 1 Bath ADU- $1500/m
2 bed 2 bath ADU- $2100/m
3 bed 3 bath ADU- $2800/m
ADU walkability score in Picfair Village
The ADU walkability score is measured by walking distance from your new ADU to these attractions, the closer you are to these Picfair Village 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 Picfair Village 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.
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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. Check out our Los Angeles rules and regulation page for more details.
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For All Your ADU Needs
NEO Builders Inc.
3940 Laurel Canyon, Studio City #394, 91604
License #: 1061134
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