Studio City Commercial Real Estate
Studio City is an affluent neighborhood located in San Fernando Valley within the city of Los Angeles. The city is home to several celebrities, military veterans and famous people. Studio City is among the few low-density residential neighborhoods in Los Angeles. The 7.11 square mile city is home to approximately 39,000 people. The residents are well-educated and earn high incomes.
Studio City is situated over the hill from Beverly Hills, Downtown Los Angeles and Hollywood. The city is not only pretty but also expensive. Studio city is part of the 24 communities that make San Fernando Valley and is located on the foothills of Santa Monica’s northern slopes. Because of its centrality, it is easy for residents to access employment opportunities in Downtown Los Angeles, Hollywood, Beverly Hills and the Valley.
Studio City has proved to be the heart of the San Fernando Valley. The city is the gateway to the Valley since Cahuenga Pass connects it to the Valley before proceeding on to Hollywood. The Laurel and Coldwater canyon feeds into the city from the Western side. Local organizations such as the Chamber of Commerce, Sherman Oaks Rotary, the Improvement association and the Residents association work in unison to improve the city. The future of the city is promising, and a real estate investor should take this opportunity to reap the benefits in the future.
Studio City is an ideal area for living, investing, relaxing or working. The city has a rich history. The name of the city was coined during the filming era in the 1920’s as a result of Mack Sennett’s filming activities. Before then, the city was rural land which had a drug store, a small bank, a grocery store, few businesses and few hamburger stands. The city has lived to its name and hosts many art centers and studios. Several celebrities and famous people have worked in these art centers and studios. They include Charlie Chaplin, Vaughn Monroe, Harry Langdon, Mabel Norman and Joan Crawford.
There are numerous reasons why people prefer to reside and invest in commercial real estate in Studio City. The neighborhood has a cool environment, beautiful landscape and is very clean. The neighborhood is well-maintained, streets are garbage-free, and houses are always in good condition. The serene environment in the city is ideal for residential homes,and a walk through the city reveals a fascinating view of beautiful homes. On the Southern side of this city, lays Laurel and Coldwater Canyon parks which provide a great atmosphere to relax. The residents of Studio City are friendly and well-educated as most of them have a 4-year degree. The friendly and welcoming nature of the community has played a large role in promoting development of commercial real estate properties. Property owners and residents of Studio City are rarely worried about the safety of their properties since the area has low-crime rates compared to other regions of Los Angeles. Crime has been on a decline hence investors are assured of peace.
Despite the city’ proximity to Sherman Oaks, Ventura Boulevard and Hollywood, it has a serene atmosphere due to its rural setting. The Hollywood Hills separate Studio City from the busy city lifestyle at Downtown Los Angeles. Commercial real estate in Studio City is thriving, and the following reasons explain the trend.
Reasons Why Investors should Invest in Commercial Real Estate in Studio City
Every person loves to be part and parcel of a community shared by military veterans, celebrities and other famous people. There are numerous beautiful commercial real estate properties in the heart of the star-studded neighborhood that promise profits and a luxurious lifestyle to investors and residents respectively. For those investors toying with the idea of investing in commercial real estate, this is the best time.
Predicted Increase in Inflation
There is a high likelihood that commercial real estate property rates in Studio City will increase due to predicted inflationary conditions. The increase in property rates may not be directly related to the increase or appreciation in the value of real estate properties. However, in the long-run, the price of the property will increase as has been the case over the years. Investors and residential home owners should utilize this opportune the time to reap profits and numerous benefits in the future.
Premium Location of Studio City
Location is one of the major factors that every investor considers before locking his/her capital in any commercial real estate property. Studio city is one of the most premium neighborhoods to invest and live in Los Angeles. Properties in Studio city appreciate faster than properties located in other faraway Los Angeles’ suburbs. Tenants also prefer areas that are ideally-located. It is also vital to note that modern commercial real estate in Los Angeles is situated in wider, friendly and inspiring communities of serene suburbs as opposed to crowded neighborhoods.
Proximity to Amenities
Most people who rent or buy residential properties prefer areas that have amenities. Studio City is close to some of the best public and private schools in Los Angeles. They include Carpenter Avenue Elementary, Reed Middle School and Rio Vista Elementary. Private schools in the city include Campbell Hall, First Christian Church Nursery School, Oakwood elementary and Osaka Sangyo University. As a result, many people opt to settle in the neighborhood. The need to settle in an area with ample amenities has facilitated the growth of real estate since the value of properties has increased. Studio City has something for everyone. It has many coffee shops, music and art centers, groovy restaurants and stores. The city has a good transport system that is connected to Los Angeles’ underground subway system. Residents and visitors can use their cars to move around or use the metro rail stations. Commuters can either use the North Hollywood station, located close to the Academy of TV Arts and Sciences, or use the station at Universal City on Cahuenga. It is easy to access most parts of Southern California from Studio City through the San Diego Freeway and the Ventura Freeway from Los Angeles.
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Other than good schools and a good transport system, Studio City has several attractions and art centers that are ideal for relaxing. The 44-acre Coldwater Canyon Park offers miles of hiking trails, organic gardens, educational displays and a fruit orchard. In addition, it hosts the Mark Taper Foundation Amphitheatre and Tree People. Residents can also savor great movies and shows at the local theatres and studios. CBS Studio Center, Universal studio Tours and Universal City Walk theatre provide entertainment to both residents and visitors. These entertainment and recreational amenities favor the growth of commercial real estate because many people love to settle or rent properties in areas with such resources.
The Chamber of Commerce and the local Residents Association developed the Studio City Farmer’s Market located on Ventura Place. The market does not only provide residents with fresh food produce but also acts as an international tourist attraction since it is among the most successful markets in the Southland. The market operates every Sunday. Vendors sell a variety of things such as organically raised chicken, artisan bread, pastries, knife sharpening and handmade aprons among other things. The market offers everything for everyone. It has bouncy slides, pony rides and train rides for young children. This has encouraged people to buy and rent properties in the region since they want to reap the health benefits of consuming fresh fruits and vegetables.
Various welfare associations have enhanced the growth of commercial real estate in Studio City by repairing and maintaining alleys, building parking lots, maintaining the landscape and planting trees. Such efforts and activities are not only attractive to residents but to investors also since they want to buy properties in suburbs that have united communities.
A Liquid Real Estate Market for both Sellers and Buyers
The commercial real estate market in Studio City is liquid because of an increase in distressed properties. The home resale sector has recorded an increase of about 18% between August and October 2013. Short sales and foreclosures continue to increase. Investors in real estate properties can make remarkable profits by buying some of these properties. Investors have a variety of properties to choose from. They include old Spanish homes, single-family residences and new luxurious town houses. The real estate is also very solid since properties continue to appreciate in spite of the increase in the number of foreclosures. Between 2006 and 2007, property prices reduced from $848, 500 to $637,100 in 2009 due to the economic downturn.
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The market is resuming its usual position. According to recent data on real estate properties on sale, the average value has increased and the median listing price stands at approximately $989,000 from $889,000 a year ago. In this light, investing in commercial real estate in Studio City is a good way to maximize your returns. An investor can counterbalance the high returns during taxation by claiming depreciation of the property. Other than claiming depreciation for tax purposes, the property will appreciate in the long-run which means more capital for an investor. Commercial real estate in Studio City also generates regular cash flows for an investor.
Most of the land at Studio city is occupied by residential properties. The suburb is also small and has a rural setting. As such, there are no major developments in the city. However, commercial real estate continues to thrive as investors take advantage of the promising and untapped property market in Studio city. Investors can invest in old homes or build new town homes in the lowly-populated and spacious land. Nonetheless, the best means of tapping into the real estate at Studio City is by purchasing property and renovating it. A successful purchase will depend on an investor’s ability to make a deal. An investor can also hire the services of a real estate agent or broker who are well versed with the local real estate market. Investors should hire agents or brokers who are reliable and trustworthy. It is also advisable to seek the services of a professional commercial real estate attorney since there are numerous federal and state laws that an investor must follow.
Studio city has many open public spaces, shopping stores, recreational facilities, a good transport system and a community that is friendly to investors and residents. The neighborhood has a low crime rates. As such, an investor should not worry about the safety or security of his/her investment. The police, local organizations and residents work together to reduce crime. Being home to one of the biggest markets in the Southland, Studio City receives many local and international tourists. Some of them end up settling in the area hence promote the local commercial real estate market. The good transport system and centrality of Studio City has made it an ideal place to live and invest in. For those seeking employment or those working, it is easy to commute using the metro rail station. Most parts of Southern California are easily accessible from Studio City through Ventura and San Diego Freeways.
Studio City commercial real estate market is secure, liquid and stable. This is because of numerous cheap foreclosures and short sales. This means that an investor can reap enormous discounts in the long-run by purchasing or investing in real estate property. Despite the recent economic downturn, the real estate market in Studio City is thriving and will continue on an upward trend. Recent home inventories indicate a sector that has recovered. The median listing price has improved from approximately $889,000 in 2012 to approximately $989,000 in October 2013. An investor should hurry and invest in property before the value of the properties increases again.
There are numerous real estate properties available in Studio City. An investor should have an open-minded approach when deciding what property to invest in. In addition, they should determine which investment opportunities look promising, valuable and profitable. However, most of the commercial real estate properties in Studio City are worthwhile. The benefits of investing in real estate in Studio City continue to increase as many people opt to settle in the serene and affluent neighborhood. Studio city provides some of the best investment options not only in Los Angeles but also in California.