Valley Village, the sister city to North Hollywood is close enough to Los Angeles that residents can still enjoy doing activities that are just a short drive away in the city. Young professionals looking to purchase their own home love Valley Village due to the fact that it is both affordable and suburban. Valley Village hosts lots of great private schools as well. Building an ADU (accessory dwelling unit) in North Hollywood will increase your current property value by $150,000 - $250,000.
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Why is the market for ADU’s trending In Valley Village?
1. Suburban Safety
Valley Village feels like you are living in a suburb of a big city with all of the benefits of the big city within a 10 minute car drive. It is very well maintained by the residents. Valley Village is a quiet and safe neighborhood. Great for people who have young kids to be outside and safe. The community prides itself on being safe and friendly.
Valley Village has stops on the Orange Line which runs through all of the San Fernando Valley and connects with the Red Line which can reach all of the greater Los Angeles area. It also has easy access to the 101, 170, and 405 freeways. The streets are all pedestrian friendly as well as friendly toward bikers.
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.
Valley Village Demographics
With a population of 72,000 people and 25,000 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 - $66,000
Median Age - 36 years old
Average Home Price - $576,000
How Much Can I Rent An ADU In Valley Village For In Today’s Market?
The average ADU in North Hollywood 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 Valley Village
The ADU walkability score is measured by walking distance from your new ADU to these attractions, the closer you are to these Valley 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 Valley 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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