Everywhere you look, condominiums are on the rise.
All along Sunset Boulevard, Hollywood Boulevard, La Brea Avenue, and every side street in between, there is a crane in the air.
In a city faces with a growing housing shortage, condos make a lot of sense.
They provide an affordable entry point for many first-time homebuyers. Moreover, many homeowners prefer condos for the simpler and more efficient lifestyle they can provide.
But that convenience and cost saving comes at a cost: privacy and control.
Is it possible to combine the ease of maintenance of a condominium with all the goodness a detached home offers?
The answer just might be yes.
Meet the “condo alternative.”
Condo alternative is not a technical term. It’s real estate slang for a smaller single-family home on a compact lot. Sometimes they’re built intentionally and sometimes they’re left over pieces of a larger lot.
The key to a condo alternative is the compact lot. In Los Angeles, the substantial value of any property is in the land, as much as 70% to 75% of the total value for single-family homes.
Since lots for condo alternatives can be as much as half the size of standard lots, the cost savings can be substantial while still delivering all the benefits of a single family home. And for the busy homeowner, smaller yards mean less maintenance headaches.
Three Condo Alternatives You Can Buy Right Now
2059 Laurel Canyon
This Tudor-style cottage is a perfect example of the condo alternative home — style, convenience, and comfort all at an affordable price. Across the street is the historic Laurel Canyon Country Store which still serves as the village square for this legendary rock and roll neighborhood.
Get more details on 2059 Laurel Canyon here.
Despite it’s rustic feel, Laurel Canyon has a fair share of mid-century architecture. This two-story home offers a clean modern look and all the updates without sacrificing that famous canyon vibe.
Get more details on 8529 Ridpath here.
7041 Woodrow Wilson
In 1959, local architect and iconoclast Harry Gesner took on the challenge of developing homes along a steep ridge that many considered unbuildable. With typical panache, Gesner created a row of “boathouses” that are still standing proud nearly sixty years later. Like any proper boat, Gesner’s boathouses are practical and functional without wasting any space. While not for everyone, a boathouses can make a stylish and unique residence for the right owner.
You can read more about the colorful career and oeuvre of Harry Gesner right here.
Get more details about 7041 Woodrow Wilson here.