University Park - The HPOZ To Build An ADU
The development of University Park as a residential area was spurred by the founding of the nearby University of Southern California in 1880, and bolstered by the extension of the streetcar routes from downtown Los Angeles in 1891. Prominent citizens, lured by the large lots and suburban ambiance, migrated south from Bunker Hill to build large mansions alongside existing modest houses in the neighborhood. With residences built between 1885 and the 1920s, the HPOZ includes fine examples of the 19th century Queen Anne style as well as later Craftsman, Spanish Colonial Revival, and American Colonial Revival styles. University Park contains one of the highest concentrations of City Historic–Cultural Monuments of any HPOZ in Los Angeles. Two historic districts listed in the National Register of Historic Places, Twentieth Street and Saint James Park, as well as the National Register eligible Chester Place Historic District, are located within the boundaries of the HPOZ. The University Park HPOZ was adopted by the City Council in 2000. The zip code for this area is 90007.
The market for ADUs is trending in University Park because of the universities nearby. Hundreds of thousands of students attend these universities annually and all these students need a place to stay. ADUs are ideal because they provide privacy and a separate dwelling instead of an apartment, which is the route most students have taken in the past. University Park is the home of the University of Southern California, Mount St. Mary's College and Hebrew Union College. Additionally, the neighborhood is the home of the historic Shrine Auditorium
University Park Demographics
Median Income - $18,000
Median Age - 23 years old
Average Home Price - $620,000
How Much Can I Rent An ADU In University Park For In Today’s Market?
The average ADU in University Park rents for about:
Studio ADU- $1400/m
1 Bed 1 Bath ADU- $1800/m
2 bed 2 bath ADU- $2200/m
3 bed 3 bath ADU- $2700/m
Walkability Score For University Park
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 sell 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's have numerous design laws, it makes getting approved plans take 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: