Why Is Atwater Village The Perfect Place To Build An ADU?
Updated: Nov 25, 2020
The little pocket of northeastern Los Angeles bordering Griffith Park, just a stone’s throw from both Silverlake and Los Feliz, is still uncrowded and neighborly, even though Details magazine named it one of the six best emerging neighborhoods on the planet. Situated between the two main thoroughfares of Los Feliz and Glendale boulevards, Atwater is eminently walkable, its residential streets lined in towering palms, and its many dogs waiting on leashes outside local businesses. It’s the best of both worlds: as relaxed as a suburb but with all the culture of the city.The things to do and see in Atwater Village are definitely tailored to this diverse population. There is something for everyone to enjoy. Building an ADU (accessory dwelling unit) in Atwater Village will increase your current property value by $150,000 - $250,000.
Why is the market for ADU’s trending In Atwater Village?
1. Bar and Restaurant Scene
Atwater is home to several iconic LA bars and restaurants including the old Disney hangout the Tam O’Shanter Inn and infamous dive bar The Roost. But now the favorite is The Griffin, a low lit hideaway with a brick ceiling, glowing fireplaces, and strong drinks. Tucked away on an unknown side street, Atwater Brewery is the place for serious beer drinkers. The microbrewery turns out about a dozen beers, including several cultishly adored pale ales. There’s usually a food truck parked outside, and on Wednesday nights, the small taproom fills with regulars for the neighborhood’s most comprehensive round of pub trivia.
ADU’s are small living units that are usually around 1,500 square feet. Within the past few years, over 3,000 new ADU’s have been built for thousands of homeowners. Why? Because it works.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.
Atwater Village Demographics
With a population of 52,000 people and 29,000 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 - $72,000
- Median Age - 42 years old
- Average Home Price - $750,000
How Much Can I Rent An ADU In Atwater Village For In Today’s Market?
The average ADU in Atwater Village rents for about:
Studio ADU- $1800/m
1 Bed 1 Bath ADU- $2100/m
2 bed 2 bath ADU- $2400/m
3 bed 3 bath ADU- $2900/m
ADU Walkability Score In Atwater Village
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.
Ofri Peretz (818) 569-9947 actively looks for homes with ADU potential. She also had multiple homes sell for over asking in the Atwater 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.
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 #: 10611