Why You Should Be Building A Westwood ADU!
Updated: Nov 25, 2020
Westwood is an LA neighborhood that is both perfect for suburban family oriented residents as well as young professionals and college students. The neighborhood attracts a diverse crowd of residents, from locals to out-of-towners, students to entertainment professionals, and even celebrities. On a typical day, it’s normal to see students studying at a café or heading to class, locals eating out or enjoying a drink at a lively bar, and sometimes even red carpet events. There is something for everyone to enjoy. Building an ADU (accessory dwelling unit) in Westwood will increase your current property value by $160,000 - $300,000.
Why is the market for ADU’s trending In Westwood?
Walkability And Transportation
Even though most residents in Westwood drive, many prefer living in a pedestrian-friendly neighborhood. With top-notch infrastructure and a very walkable community, residents and out-of-towners can easily get around on foot. In fact, for many drivers, parking spots around Westwood areas close to UCLA and Westwood Village are few and difficult to find, especially during peak traffic hours. The community in Westwood has been working for years on a vision to further improve the walkability between UCLA and Westwood Village. Today, Westwood boasts a thriving urban and overall transit-friendly community, filled with cars, pedestrians, bikes, electric scooters, and public transportation.
The Beach and Outdoor Activities
Westwood is the best of both worlds. Not only is it urban and modern but it is also just minutes away from some of the best beaches and recreation that Los Angeles County has to offer. Since Westwood is located near beach cities such as Malibu and Santa Monica as well as the Santa Monica Mountains, residents in Westwood have easy access to both water activities as well as hiking trails, bird watching, camping, and much more. There are also several neighborhood parks, including Westwood Park and Westwood Recreation Center, which features sports programs, dance and music classes, multiple outdoor sports courts, playgrounds, and seasonal camp programs.
With a population of 49,000 people and 16,000 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 - $63,000
Median Age - 22 years old
Average Home Price - $950,000
How Much Can I Rent An ADU In Westwood For In Today’s Market?
The average ADU in Westwood rents for about:
Studio ADU- $1500/m
1 Bed 1 Bath ADU- $1800/m
2 bed 2 bath ADU- $2500/m
3 bed 3 bath ADU- $3000/m
ADU Walkability Score In Westwood
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 Westwood 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 #: 1061134