I’m very interested in buying a condo in downtown’s Art District, but... (Riverside: renting, house)

[Miss Pip]

Originally Posted by Bruin1983

I appreciate your preppy attiutude in offering me help. Trust me, I do. However this website isn’t a service in the sense you’re acting like.

I am not familiar with this "preppy" word. This forum is called City-Data, it's definitely of service. People continuously us it for all sorts of city data, especially when moving to another State or Country.

[Pro1000]

Originally Posted by Bruin1983

But it seems like it’s alittle to close to Boyle Heights to the east, Skidrow to the South, and endless warehouses within the boundaries for my taste. I do like the Arts District for the edgy hip vibe, proximity to Staples Center, future transit currently being built, and promising market to invent in since so much revitalization is being put into Little Tokyo and Arts District Area.

I would be much more comfortable if Boyle Heights (and the entire LA River) could just gentrify already. Skidrow I don’t mind as long as the problem improves slowly over time. As for the sea of warehouses along the 10 and 60 freeways, I strongly feel as they should all relocate, be demolished, and redevelop to land for housing. This could be the big solution to the affordability crisis, or at least temporarily slow it down. Most of the logistics are moving to the Inlans Valleys these days anyways because of the cheaper land. Isn’t Inland SoCal the “Logistic Capital of the World”?. Look at google satellite images of the swarm of warehouses that stretch from City of Commerce to eastern DTLA. Easily 20x larger than the urban, walkable friendly pockets of LA put together.

It is what it is. 'New Money' and the elite wanted nothing to do with those areas for decades but I say get in now- bare n grin it before it really gentrifies all the way and really gets expensive.

[Peasy973]

You should talk to a realtor. They should be able to assist you in your quest.

[Bruin1983]

Originally Posted by Pro1000

It is what it is. 'New Money' and the elite wanted nothing to do with those areas for decades but I say get in now- bare n grin it before it really gentrifies all the way and really gets expensive.

The thing is, I don’t think it’ll ever gentrify to the level of the Westside and Santa Monica. There will always be more demand to be closer to the beach. I know a lot of fellow classmates who lived in WestWood and never went east of Koreatown.

Even for me, going east of the LA River is like visiting a different state.

[Pro1000]

Originally Posted by Bruin1983

The thing is, I don’t think it’ll ever gentrify to the level of the Westside and Santa Monica. There will always be more demand to be closer to the beach. I know a lot of fellow classmates who lived in WestWood and never went east of Koreatown.

Even for me, going east of the LA River is like visiting a different state.

It probably will never get to that level but you should stay where you're comfortable at. That's the thing with LA.. live in the area in the area or areas you like. Can't expect all the black, brown, and homeless to leave an area just so you personally can feel safe and carefree. Santa Monica, West LA, Century City, etc are what they are for a reason. LA is huge. Pick your spots and go from there.

Then again parts of DTLA, Arts District, Little Toyko, etc.. might be fine. You just gotta take a chance and get out of your comfort zone.

[jm1982]

Condos in the Arts District don’t seem like a great value right not but not much does in L.A
Who knows though prices could double in a few years if this market continues.

Boyle Heights is in the early stages of gentrification but it’s slow due to rent control and so many people don’t have motivation to sell their homes because pretty much everywhere else in L.A is more expensive .

There’s already quite a few hipster places opening up . Was just talking to someone yesterday that said they know someone that recently opened a brewery in Boyle Heights and doing well.

With arts district and downtown being right next door it seems inevitable .

[Csonka]

Arts District is neat but there is also a ton of development along Broadway toward Olympic and in South Park

[jm1982]

Originally Posted by Csonka

Arts District is neat but there is also a ton of development along Broadway toward Olympic and in South Park

It seems most of the development is apartments versus condos . I guess it’s a lot easier to develop apartments and less risk if there is a downturn around time project is done

[BB_210]

Homeless camps are a stone throws away, across 4th.

[Miss Pip]

Originally Posted by jm1982

Condos in the Arts District don’t seem like a great value right not but not much does in L.A
Who knows though prices could double in a few years if this market continues.

Boyle Heights is in the early stages of gentrification but it’s slow due to rent control and so many people don’t have motivation to sell their homes because pretty much everywhere else in L.A is more expensive

Where are you getting that from? Lots of people are selling their homes in BH. Go look on Redfin. Because it's so expensive is why many people are selling their homes. They know they'll get a good price and get a better deal elsewhere. My previous tenants sold their moms home in BH, it was a complete dump and they got $350k for it and bought a house for $250k in Riverside.