Investing in Real Estate is a good business idea in these actual days if you want to start building a reliable source of passive Income in which tenants will pay rent for staying in that property that you offer to them. Since Los Angeles is one of the most famous and important cities in the US, having some properties could be a good idea for this type of business, right? Well, that’s true at all! But if you want to go beyond the regular options, you can start investing in luxury Real Estate to surpass any limitation and to gain even more income, so, you should know the prices of this kind of property before doing any risky movement, so let’s discuss that right now!
Price of Luxury Real Estate in Los Angeles:
The price of a property will depend on some factors, for example, if the property in question has 4 baths, it can be more expensive than others that count with 2 baths. However, there is always the problem with the location, you can’t compare a home that is located in Summit community with other placed on Valley Village, and that’s only an example (it can be different in some cases)
Then, how you will know an approximate of the cost? You can see a comparison between properties that count with similar features, and to make it easier for you, just check up this list of prices and compare everything to understand a bit better the situation, stay tuned!
Luxury Properties with 3-4 Beds and 2-3 Baths:
This is the best option for tenants who have a family with 4 members, everyone will feel comfortable in this kind of property without worrying about not having enough space to live or for having to share bedrooms since the place doesn’t count with a good amount of this basic feature. The price range of these luxury properties is between $999,000 and $1,499,000. Like it has been said before, everything will depend on the location and the list of features.
If you’re a tenant who is looking for a place to live that counts with these type of features, then you should ask the how much is the rent because making an approximate is almost impossible and since some landlords can be putting some high prices it makes it even more difficult.
Luxury Properties with 5-6 Beds and 5-6 Baths:
This is the definition of luxury, having more space that you would probably need in your whole life! Since a property with these features requires a lot of space to exist, the price will be considerably higher than the previous option, otherwise, it wouldn’t be fair at all, right? So, the price range of these monstrosity is between $1,999,999 and 2,999,999 a great difference in terms of prices.
These properties are kind of expensive, but if you have a solid business idea and you are a good landlord, then making deals with tenants will be extremely easy, remember, there are tons of people out there who want to live in this kind of places without paying millions of dollars in the moment to enjoy this type of luxury in a city where millionaires are pretty common, it’s up to your decision!