In the market for a $1.5 to $2 million pad in a prime Manhattan neighborhood? That will typically buy a one- or two-bedroom. Sometimes it’ll have only one full bathroom and, in the lower reaches of the price range — and especially if the home is in a new condo building — the unit in question will be less than a thousand square feet.
This quest for more space, and perhaps even a slice of private outdoor space — not to mention the appropriate weather in which to enjoy said outdoor space — can be a frustrating one. So, if you’re looking for more bang for your buck, there’s another option. One that’ll give you both sunshine and space: Los Angeles.
Hear us out. While the market seems just as hot in the City of Angels as it is in the Big Apple, for $1.68 million — the average price of a Manhattan apartment, according to a recent Douglas Elliman report — buyers get more in return.
“I’ve never seen the market like this,” said Richard Stanley, a Coldwell Banker real estate agent who has been in the business for 27 years. In Los Feliz — a now-affluent community that has flourished over the last decade — Stanley said that the median price for a home is just under $1.5 million. For that amount, he said, a buyer gets a three-bedroom home of about 2,400 square feet on a roughly 6,000-square-foot lot. “They’re charming houses,” he adds.
According to Zillow’s data, the median price of a home in Los Angeles is $531,400 — that’s up 16.2 percent since 2013. Zillow is predicting another 9.3 percent rise over the next year.
Take a peek at these listings at your own risk. And while the price of a plane ticket isn’t included, the sunshine’s free once you’re there.
5060 Los Feliz Boulevard
Gable and Wyant — who designed the “Hangar One” monument at LAX — are the architects of this light, spacious home. This four-bedroom Los Feliz spread can be yours for $1,449,000. The 1922-built house comes with a patio, a porch and an enclosed yard. At the end of a long private driveway, residents of this home find their private garage, a flat garden, a terrace and tall hedges. Coldwell Banker’s Richard Stanley has the listing.
2719 Hollyridge Drive
In Hollywood Hills with sprawling views and outdoor space, $1,595,000 gets you this nearly 3,000-square-foot home. With four bedrooms and four-and-a-half bathrooms, it’d probably take up half a block in Manhattan. But who can think of the concrete jungle when sitting on a private terrace in the sunshine? The home, with an open layout and large windows, lets in ample natural light. The bottom floor is a renter’s unit with its own bathroom and kitchen. Amy Dginguerian and Tyler Gare from John Hart Real Estate have the listing.
135 Loma Metisse Road
This Hacienda-style home in Malibu — about 4,000 square feet with five bedrooms and four bathrooms — comes in at $2 million. Located on top of a hill, it offers views over mountains and the ocean, a dream come true for any nature-starved New Yorker. The home also includes a family room with a fireplace, a home office and a separate dining room. Madison Hildebrand from Coldwell Banker Residential has the listing.