Westwood Real Estate
Westwood is an established neighborhood surrounding Beverly Hills and UCLA (University of California, Los Angeles). Within this concentrated area (population 50,000, McCormack’s Guide Los Angeles County 2005) the immediate smaller neighborhoods around Westwood include Brentwood, Bel Air, Cheviot Hills and Rancho Park.
Commuters favor Westwood because of the neighborhood’s convenient access to major freeways such as 405, 10 and 101. The Metro and CalTrans bus systems that run through Westwood are a convenient alternative to commuters who want to avoid LA traffic.
Westwood consists of small, charming neighborhoods. Homes are comfortable in size and unique (most homes were custom built). The residential area north of Wilshire Blvd. has many tree-lined hilly streets with a mixture of modern and traditional Spanish-style homes. Residences located east and southeast of UCLA are modest in size and price compared to homes west of the University.
The condominium and townhouse market in Westwood is strong with several properties located on the Wilshire Corridor, a two-mile stretch of high-rise buildings ranging in price and service level.
Westwood Village attracts young professionals and college students and much more. For the cultured, Westwood Village is home to The Geffen Theater and the Armand Hammer Museum known for its collection of Impressionist art and cutting-edge modern art exhibitions (Wikipedia 2006). Westwood Village is regarded as the center for movie-goers and Hollywood premieres. Famous vintage movie theaters include the Art Deco Crest and the Mann Village, formerly the Fox Theater.
The schools in Westwood are served by Los Angeles School District. Worth noting, the public elementary schools include Warner Avenue and Westwood Charter Elementary and are ranked above the 90th percentile in California.
As of June 2008, single family homes for sale in Westwood/Century City area range from a 2-bedroom, 2-bath home at $1,149,000 to a 6-bedroom, 4-bath home in the “Little Holmby” at $4,195,000. According to the Multiple Listing Services, the median price for a single family home sold in the first 6 months of 2008 was $1,535,000 and the most expensive home sale reported was $4,070,625.
Prices of condos on the market as of June 2008, range from $299,000 for a top floor studio to $9,950,000 for a 3-bedroom, 5-bath penthouse. The most expensive condo sale reported year-to-date was $1,695,000.
Residential leases range from $1,600 per month for a studio apartment to a furnished 4-bedroom, 5-bath luxury condo in a full-service building for $18,000 per month.