Sherman Oaks? (Riverside, Burbank, West Hollywood: rental, condos, buying a house)

[Giantsbran]

Hey guys. I currently live in Hollywood, and am looking at buying a house/condo in Sherman Oaks/Studio city. Is this considered a nice area of the valley? How safe is it? I have a 550k budget. What are the best areas of Sherman Oaks/Studio City within my price range? Are there any nice streets I should try and live near or bad streets I should avoid? Thanks!

[BRinSM]

sherman oaks is very nice, studio city is even more desirable. your budget probably won't give you many options in studio city, except for maybe very small/older houses. you'll have more options in sherman oaks, but the majority of the inventory will be north of the 101. this isn't necessarily a bad thing, but i'd try to stay south of magnolia, definitely south of burbank. north of burbank used to be van nuys and the houses aren't as nice IMHO. you could also look at encino, which is probably 5-10% less expensive than sherman oaks and just a bit further west.

[Giantsbran]

Thanks for the advice. Damn.... Its incredible how little 550k will get you in LA.

[Giantsbran]

Any more opinions?

Also, how well do Sherman Oaks homes hold their value compared to the general market? I was also looking at WEHO. Would homes in WEHO hold their value more than one in Sherman Oaks? Just thinking about resale here.

[Giantsbran]

Anyone?

[BRinSM]

i'd say the two are on par as far as value. West Hollywood is more urban and right in the heart of LA, but some people prefer to be slightly removed the chaos of the city for which Sherman Oaks would be a better option.

[SalParadise]

Originally Posted by Giantsbran

Any more opinions?

.

BRinSM gave you good input.

I'd only add that IF you went the condo route MANY more options would open up.

[RalphWiggum]

$550 will get you a condo, but certainly not a decent house in Sherman Oaks or Studio City.

[LaoTzuMindFu]

Yeah, you could get a $300k condo on Willis between Ventura Blvd and the fwy. Would more than likely be only at 2+2 and 1000 - 1200 sq feet, and its on CROWDED street, but, you'd be in Sherman Oaks.

I have a place on Dickens that is south of the blvd, but I am about a 2-3 years away from maybe selling it. I use it as rental now and its okay.

Also, you will be able to find a little less expensive condos on Riverside, Magnolia and Moorpark, but be VERY careful as they are all subject to pretty bad liquid faction in earthquakes. Probably the worse areas to be in the entire valley during and earthquake.

[Samoi137]

Where in Sherman Oaks, Studio City? Up in the hills is different than along Ventura Blvd, which is different than further north. All of the communities tend to blend togther, so there's also Van Nuys, Burbank, Universal City, North Hollywood, etc. Depends exactly where you are looking.