Hello everyone and welcome to the Real Estate Minute. I’m your host Ivan Estrada with Douglas Elliman coming to you from The Shave of Beverly Hills at 111 North Robertson in Beverly Hills. We can get an amazing haircut, a shave, a facial and even a massage. So the Real Estate Minute is going to work this way. There are three segments, one minute each, three minutes total. Let the Real Estate Minute begin.
Knight Frank released its 2015 Wealth Report with the top 10 luxury markets in the entire world. How did they measure? Well, how much could a million dollars get you in square footage? Well, here’s a top 10. Coming at number 10 is yours truly, Los Angeles, California. At number 9: Paris, France. And number 8: Shanghai. At number 7: Sydney, Australia. Now on the other side of the world coming in at number 6 is Geneva. At number 5: it’s Singapore. And at number 4, of course New York City, where a million dollars gets you 365 square feet. And here are your top three. At number three, it’s London. At number two: it’s Hong Kong, China. And last but not least at number one: it’s Monaco where a million dollars gets you 187 square feet. That’s right a 187.
Purchasing residential real estate in Los Angeles will always be a great investment. It doesn’t matter if you’re purchasing in the west side, on the east side or in Mid-City. It’s all about longevity and holding on tight to your real estate. Now, here are three great examples. A condo, a single family, and a multi-million-dollar mansion. Let’s start with the condo in Santa Monica. Two bedrooms, three bathrooms about 1,800 square feet. Now the single-family home. This one located in Silver Lake. Three-bedroom two bathroom, about 2700 square feet. And last on the list is this gorgeous home in Beverly Hills. Eight bedrooms, 11 bathrooms about 14,000 square feet. Moral of the story: real estate appreciates. Hold on to it.
House flippers are all over Los Angeles purchasing all cash and making property value skyrocket. You might think that it’s all over Los Angeles, but there’s three areas that they have their eyes on: Silverlake, Los Feliz, and Mount Washington. Two other areas that are right behind them are Eagle Rock and Highland Park. Now here are three examples of some amazing house flips. The first one was in Los Feliz. Purchased for $200,000 and sold for $929,000. Second home was in Eagle Rock. Purchased for 605,000 and sold for $1,050,000. And the last property is in Silverlake. Purchased for $90,000, sold for a little bit just under a million. So, if you’re looking to invest in the next hot neighborhood, Los Feliz, Silverlake, Mount Washington are the places to be.
Thanks for watching this month’s Real Estate Minute. I’m your host Ivan Estrada at Douglas Elliman checking out from The Shave of Beverly Hills located on 111 North Robertson. So if you’re looking for an amazing haircut or a great shave, this is the hottest place in LA. So don’t forget to follow me on Facebook Twitter Instagram and YouTube at Ivan Estrada Properties. I’ll see you next time.
About Ivan Estrada Properties: Ivan Estrada and his elite team of real estate agents are dedicated to providing an unforgettable experience in finding your dream home in Beverly Hills and other areas in Los Angeles County. Call us today at 323.574.2317 or contact us here.