The Miracle Mile HPOZ comprises 1,347 properties and is located in the Mid-Wilshire community of central Los Angeles. Its boundaries are Wilshire Boulevard to the north, San Vicente Boulevard to the south, La Brea Avenue to the east, and Orange Grove Avenue to the west. The HPOZ is composed largely of one-story single-family residences in the portion north of Olympic Boulevard and one and two-story multi-family residences in portion south of Olympic Boulevard. Most buildings in the HPOZ reflect styles associated with the Period Revival modes of architecture, including Spanish Colonial Revival, Tudor Revival, Mediterranean Revival, French Revival, and American Colonial Revival. Minimal Traditional-style buildings and Mid-Century Modern apartment buildings are present as well. The HPOZ has beautiful features such as concrete sidewalks, mature trees, relatively consistent lot sizes, uniform setbacks, and a skewed orthogonal street pattern. The zip code of this neighborhood is 90036.
The market for ADUs is trending in Miracle Mile because the strip is busy, as a home to museums, the La Brea Tar Pits, and a collection of historic Art Deco structures.With LACMA, the Petersen, and other museums – including the Craft and Folk Art Museum, the Page Museum at the La Brea Tar Pits, and the Architecture and Design Museum – the Miracle Mile has gained a reputation today as L.A.'s museum row. It is a beautiful LA neighborhood with lots to see.
Miracle Mile Demographics
Median Income - $62,000
Median Age - 42 years old
Average Home Price - $850,000
How Much Can I Rent An ADU In Miracle Mile For In Today’s Market?
The average ADU in Miracle Mile rents for about:
Studio ADU- $1700/m
1 Bed 1 Bath ADU- $2000/m
2 bed 2 bath ADU- $2600/m
3 bed 3 bath ADU- $3000/m
Walkability Score For Miracle Mile
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
Increase The Value Of Your Home With An ADU Permit
If you believe your home has ADU potential, you should look into applying for architectural permits. Homeowners and agents are actively looking for homes with ADU potential. Realtors also have had multiple homes sold for over asking recently. Talk to your realtor about reaching out for approved city permits for an ADU.
How Much Do Permits Cost?
The process should be between $5,000-10,000 plus any specific city fees.
How Long Do ADU City Permits Take To Get Approved in an HPOZ?
Since HPOZ have numerous design laws, getting approved plans takes about 6 months.
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
If you are planning on building an ADU in this neighborhood and have any questions you can reach the city council staff contact at: