Living in Playa Vista offers residents an urban feel and most residents rent their homes. In Playa Vista there are a lot of restaurants, coffee shops, and parks. Many young professionals live in Playa Vista. The public schools in Playa Vista are above average. There is something for everyone to enjoy in Playa Vista. Building an ADU (accessory dwelling unit) in Playa Vista will increase your current property value by $150,000 - $250,000. With its recent additions of new homes, commercial developments, and major tech companies, Playa Vista is attracting a lot of interest from prospective homeowners.
Why is the market for ADU’s trending In Playa Vista?
1. The Dining and Entertainment Scene
Playa Vista is known for its breweries that are great for mingling with tourists as well as locals. Playa Vista offers upscale restaurants from elevated burgers at HopDoddy Burger Bar to upscale Baja-style Mexican cuisine at SOL Mexican Cocina. There’s lots of development happening in the neighborhood, so expect a lot more restaurants and entertainment options popping up within the next few years.
2. Pedestrian and Pet Friendly
Playa Vista 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 Playa Vista 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.
3. Affordability
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.
Playa Vista Demographics -
With a population of 14,000 people and 6,000 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 - $110,000
Median Age - 37 years old
Average Home Price - $950,000
How Much Can I Rent An ADU In Playa Vista For In Today’s Market?
The average ADU in Playa Vista rents for about:
Studio ADU- $1900/m
1 Bed 1 Bath ADU- $2200/m
2 bed 2 bath ADU- $2700/m
3 bed 3 bath ADU- $3200/m
ADU walkability score in Playa Vista
The ADU walkability score is measured by walking distance from your new ADU to these attractions, the closer you are to these Playa Vista 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 Playa Del Rey 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.
For All Your ADU Needs
NEO Builders Inc.
3940 Laurel Canyon, Studio City #394, 91604
License #: 1061134
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