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What Can I Get For Under $500,000?

Happy New Year! Now that the holidays are over and we’re all back to the grind, I’m excited to pick up where I left off at the end of 2011 with my “What Can I Get For…?” series. If you recall, my last column before the holidays detailed what you can purchase for under $750,000, and the one before that was what you could purchase for under $1 million.

This week, we tackle the under-$500,000 category. It’s easier than you think, too. A lot of these properties can be purchased with as little as 3.5 percent down payment.


West Hollywood

1318 N. Crescent Heights Blvd. #207
$225,000
1br/1ba in 622 sq. ft. condo

It may not be huge, but it’s super cute, it’s in the middle of everything and it’s yours! Great mid-century building with vintage charm and retro style. Top floor, rear corner unit with great light. Building has a beautiful courtyard, central air, low dues and extra storage space.


Hollywood Hills

1942 Grace Ave.
$299,000
2br/2ba in 1,100 sq. ft. condo

Spacious, light, bright condo in Whitley Heights with hardwood floors, huge open living room, wood-burning fireplace, wet bar, washer/dryer, lots of closets and a view of the Hollywood sign from the patio. Pool, spa and racquetball court as well! Close to shops, bars, the W Hotel and Hollywood Bowl.

Picfair Village/Mid-Wilshire
5267 Saturn St.
$414,900
2br/1ba in 780 sq. ft. on a 3,000 sq. ft. lot

This is a sweet little condo alternative for a single person or young couple who wants something stunningly remodeled and move-in ready. Featuring little splashes of Kelly Wearstler influence, this Country English gem is designer-done with hardwood floors, a new kitchen and all new electrical, plumbing, tankless hot water heater, roof and HVAC. Beautifully landscaped and steps away from cafés and boutiques.

Sherman Oaks
5847 Bevis Ave.
$489,000
3br/2ba in 1,280 sq. ft. on a 6,364 sq. ft. lot

Situated on a huge lot on a tree-lined street, gated, beautifully updated and move-in ready. Hardwood floors, brick fireplace, glass doors leading to an outdoor patio, updated kitchen with stone counters, stainless steel appliances and a huge expandable dining area. Central to freeways, Target, Costco and the Sherman Oaks Galleria.


Longwood Highlands (Hancock Park Adjacent)

5050 W. 12th St.
$549,000
Triplex (three 1br/1ba units in 1,977 sq. ft. on a 5,009 sq. ft. lot)

Live in one, enjoy the income from the others. This mid-century triplex is situated on a corner lot and has lots of potential for upgrading and increase in rents. New copper plumbing. The largest unit is vacant with a fireplace. Perfect for an owner/user!

So there you have it. And there are tons more just like this. If I could fit them all on this page, I would. If you’d like to see some more examples, or are interested in what you might be able to find for yourself in this most affordable of price ranges, please feel free to give me a call. And if you know anyone who may be considering buying or selling a home in the near future, please don’t hesitate to have them call me, and I will take excellent care of them. Happy 2012!

Jefferson Hendrick is an L.A.-based Realtor with Keller Williams.Contact him with questions, concerns and real estate inquiries at [email protected] or facebook.com/jeffersonhendrickrealtor.

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