Why Homeowners Are Building ADUs in the La Fayette Square HPOZ
La Fayette Square
Lafayette Square was the last and greatest of banker George L. Crenshaw’s ten residential developments in LA. Since Crenshaw wanted this development to have a European flair it was designed as an elegant residential park centered on St. Charles Place, a broad palm-lined avenue with a landscaped median. Early residents of Lafayette Square included the founder of Pepperdine University, George Pepperdine, actors W.C. Fields and Fatty Arbuckle, art collector Norton Simon, boxer Joe Louis, and the Crenshaw family. The zip code for this area is 90019. Houses in Lafayette Square reflect residential styles popular during the 1910s and 1920s such as Craftsman, Italianate, Spanish Colonial Revival, and American Colonial Revival. Several houses, such as architect Paul Williams’ own home, were designed in the Modern style, exemplifying an important trend in Los Angeles’ architectural development. The Lafayette Square HPOZ was adopted by the City Council in 2000.
The market for ADUs is trending in La Fayette Square because It was designated by the city as a Los Angeles Historic Preservation Overlay Zone in 2000 for its significant residential architecture and history. LaFayette Square is regarded as one of the wealthiest neighborhoods in the Central LA region, along with Hancock Park and Windsor Square. In addition to its significant architecture and large homes, the neighborhood is also notable for its central location to the entire city – an important incentive for many residents. The neighborhood was designed for wealthy families and now-historic houses regularly have 5,000 to 6,000 square feet floor plans, although the average home size is 3,600 square feet. According to a Los Angeles Times real-estate section article on the district, “Most of the properties have period details: Juliet balconies, mahogany staircases and libraries, sitting rooms, stained glass windows, triple crown molding, soaring ceilings — even four-car garages.”
La Fayette Square Demographics
Median Income - $47,000
Median Age - 37 years old
Average Home Price - $750,000
How Much Can I Rent An ADU In La Fayette Square For In Today’s Market?
The average ADU in La Fayette Square rents for about:
Studio ADU- $1500/m
1 Bed 1 Bath ADU- $1800/m
2 bed 2 bath ADU- $2400/m
3 bed 3 bath ADU- $2800/m
Walkability Score For La Fayette Square
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.
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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: