Silver Lake Area Real Estate News And Information: August 2009

Buy Income property in Silver Lake or Echo Park and get help paying your mortgage.

Owning in a home is still the American Dream, but it's tough to be able to afford your dream home right off the bat.  If you are currently renting a 1 or 2 bedroom apartment in Silver Lake or Echo Park, do you really need a view mansion in the Hollywood Hills to live comfortably?  Why not start off with an income property instead of a single family home and stop throwing money away on rent?  As long as you buy 4 units or less, you can still qualify for conventional financing.

Beautiful, but does this have to be your FIRST home?

 Not to be one to give advice I wouldn't take myself, this is exactly what my husband and I did when we bought our first property.  We wanted to live in Silver Lake and realized that rentals near the Silver Lake Reservoir were commanding great rents.  Why not buy ourselves a place to live that would also help our bottom line? We lived in our duplex for 5 years before buying a house and that Silver Lake duplex is even a better investment for us now than it was when we bought it.

 I've heard the "I don't want to deal with tenants" line a million times.  Well, if you are currently renting you are a tenant. Would you not be willing to rent to someone like yourself?  When you buy a house, you don't get to choose your neighbor but if you buy a duplex you actually DO!  How many rowdy or unmanageable renters would be interested in living downstairs from our next door to their landlord? Personally, we never had issues with any of the tenants who ended up being our closest neighbors. 

Silver Lake and Echo Park are great places to own income property. The neighborhoods command great rents and nice rentals are in high demand.

Talk to your tax advisor about the benefits of owning income property. You already know the tax benefit of writing off mortage interest.  Did you know that income property can be depreciated as well?  That's right. When you buy income property and only ower-occupy a portion of it, there's the added tax benefit of of being able to depreciate the part of the property you are renting out. That can offset the taxable income from the rent you receive.  Your tax advisor can fill you in on all of the details. We were able to depreciate half of our Silver Lake duplex  while we lived there, and now that we rent out the other half as well, we can depreciate the entire buidling.  It's a huge tax advantage that many would-be buyers are simply not aware of. 

If what I'm telling you gets you at all excited about the possibilities, then read on!  Here are but a few Silver Lake area properties worth checking out.  They'll get you out from under paying rent, help you build equity and provide tax benefits you may not even have been aware of before.  Silver Lake is under Los Angeles Rent Control so the following properties are especially good choices since at least one unit will be delivered vacant and ready for you to move in without having to pay relocation costs to existing tentants. If you'd like to see any of these, give me a call on my cell and I'll make arrangements! I can also supply you with information on the most current rent control laws in Silver Lake, Los Feliz, Echo Park, Eagle Rock and other parts of Los Angeles as well as help you determine cities in Los Angeles County that do not currently have rent control.

  This Spanish duplex is listed in the mid $7's.  Each unit is more than 1800 sf of living space. There are no Silver Lake houses for this price offering that much room and you get income for the second unit on top of that! Just a block away from Sunset Blvd and close to both Silver Lake and Echo Park restaurants and shops. 

 This triplex is within walking distance to Sunset Junction and one of my favorite haunts, The Cheese Store of Silver Lake. You can live the 3 bedroom, 2 bath house and get rent from the duplex in back. The house can be delivered vacant.  It's a great buy at $699K. 

 Talk about a real bargain - this Echo Park duplex is a steal at $495,000. Both units will be delivered vacant so you can choose your tenant and set your own rent.  At 2 bedrooms each, maybe you could buy this one with a friend and both of you can stop paying someone else's mortgage.

These are just a few of the currently available Silver Lake area income properties you might consider. For a complete list of available properties and more information on owning income property in Silver Lake and surrounding neighborhoods, give me a call. It would be my pleasure to start you on your way to owning investment property.

For more information on Silver Lake, Los Feliz, Echo Park and surrounding areas, contact me directly at 213-215-4758 or check out LApropertySolutions.com

Broker Associate
Keller Williams Realty, Los Feliz
213-215-4758
http://www.LApropertySolutions.com

The Vista Theater in Los Feliz, one of Los Angeles' great remaining single screen theaters

When you think of going to see a movie, no doubt you think of the local multiplex, with multiple stadium seating theaters.  When I was growing up in L.A., I was lucky to live in a neighborhood with two old single screen theaters complete with neon marquis and mosaic tile flooring out front around the ticket booth.  Unfortunately, both of those theaters are gone now. They left the façades in place but the buildings now house business office rather than carrying the air of warm popcorn.

Folks living in Silver Lake and Los Feliz are lucky to still have a great single screen theater.  The Vista Theater at the corner of Sunset and Hollywood Blvd in Los Feliz is a piece of living history that's still going strong today.  Originally opened in 1923, the Vista Theater was home to vaudeville stage acts. It now plays first run movies and many local folks will tell you it's miles above seeing a moving at any of the myriad choices in the area.

 The exterior of the Vista Theater is most certainly Spanish, in style but the ticket booth and interior are Egyptian-inspried with carved Egyptian maidens and serpents, most likely to compete with Grauman's Theater in Hollywood which was built around the same time period.

Though Los Feliz has a few theaters, none compare to the Vista Theater. This is a true gem, not only for its history and terrific architecture, but ticket prices are really reasonable and the legroom is fantastic.  When the theater was remodeled back in 2002, every other row of seats was pulled out. If someone has to walk by you, you barely have to move your feet. There is more legroom in this theater than you'd ever dream of. The space between the rows also makes it more comfortable to watch a movie without having to hear the people behind you chatting or unwrapping their chocolate bars.

The Vista Theater is the oldest movie theater in Los Felizbut when it was refurbished, it was also updated with all the sound and electronic gizmos you'd find in a fancy new theater. It's just a much more elegant place to see a movie.  The theater has no parking lot, but don't let that stop you from enjoying the next block buster there. You'll find plenty of places to park along Hollywood and Sunset and walking a few blocks after the movie might make up at least a little for that large popcorn you'll enjoy!

 For more information on real estate in Silver Lake, Los Feliz, Eagle Rock and surrounding areas, contact Jenny Durling at 213-215-4758 or check out LApropertySolutions.com  

 Broker Associate
Keller Williams Realty, Los Feliz
213-215-4758
http://www.LApropertySolutions.com

Silver Lake Wine is a great place for wine tasting, meeting and mingling in Silver Lake

Opened in 2004, Silver Lake Wine seems to be going strong and its following is steadily growing. I wanted to stop in for a bottle last weekend and couldn't find a place to park! That's what happens if you don't make a reservation for one of their very popular tastings.

An unpretentious little neighborhood wine shop, Silver Lake Wine is located around the corner from Silver Lake Reservoir and just up Glendale Blvd from where the new Silver Lake Library is being built.  They carry a variety of wines from all over the world and have recently added liquor to their offerings. The store is owned and operated by Geooge Cossett, Randy Clement and April Langford and the focus on small production, high quality wines from around the world as well as microbrews and sake. This store was a welcome addition to the trendy Silver Lake neighborhood.

The staff  of Silver Lake Wine is experienced and knowledgeable and takes pleasure in sharing that knowledge with their growing customer base. Unlike some wine shops, there is no air of stuffiness about the atmosphere and it's a comfortable place to meet and mingle with other Silver Lake folks out for a fun evening.

There are three specific days/times for  wine tastings and they are all the rage with the Silver Lake crowd. If you're looking for something to do on a weekend afternoon, check out Sundays at Three. The Sunday tasting features four ones and one aperitif. The wines are each paired with an hors d'doeuvre that compliments it by the region.  How can this NOT feel like a party and for $20 per person, how can you go wrong?  This is a pretty popular event so call ahead for reservations if you are planning to attend.

If you prefer your wine in the evening, you might stop by on Monday or Thursday between 5pm and 9pm.

• Blue Monday is held every Monday from 5pm-9pm.  Silver Lake Wine serves 3 different wines accompanied by farmhouse cheese, olives and an LA favorite- La Brea Bakery Bread. If you're a cheese fan, you'll have to check out The Cheese Store of Silver Lake too, but that's a different story.
  
• Thursday Night Flights, also held from 5pm-9pm will get you a sampling of 3 wines. The wines are categorized by winemaker, grape or region and you can choose from white or red or why not both?

Reservations are not required for either of the evening tastings  at Silver Lake Wine and at $12 a pop it's cheaper than going to the movies. (Particularly if you like to munch on popcorn and candy while you're there!)  You can also leave the store with a bottle or two of your favorites from the tasting menu and get a bit of education in the process.

Silver Lake Wine is also involved with the Barndsale Art Park Foundation.  Fridays at 5:30 during the summer you can do your wine tasting at Barnesdale Park and take a tour of Frank Lloyd Wright's Holyhock House in Los Feliz.  This event has proved to be so popular that tickets must now be purchased in advance and are no longer available at the door.

So if you've been looking for something different to do in or around Silver Lake and you've yet to stop in at Silver Lake Wine, make it a point to drop in for a tasting one day soon. I'm sure you won't be disappointed.

 For more information on Silver Lake, Los Feliz, Eagle Rock and surrounding areas, contact Jenny Durling at 213-215-4758 or check out LApropertySolutions.com  

 Broker Associate
Keller Williams Realty, Los Feliz
213-215-4758
http://www.LApropertySolutions.com

Caldron Kitty in Silver Lake for witchcraft, pagan and spiritual supplies

I've seen a lot of movies and TV show that have stores where you can buy notions and potions, spell books and ingredients like "eye of Newt", but I was surprised to find we have our own witchcraft supply store right here in Silver Lake!

Caldron Kitty sells ritual tools and supplies, hand crafted wood and crystal wands, chalices, jewelry and a great line of hand poured candles.  This Silver Lake shop hosts classes and public rituals, provides Tarot card, Runes and Ogham readings and complete astrological chart- no new age stuff but serious witchcraft!  Lest you think this is some sort of gimmick; the knowledgeable staff actually helps patrons with magic and guidance in spell work.

I had driven by this Silver Lake shop many times but had never thought much about it until early last year. One of my clients had called to tell me there were weird paranormal things happen in her condo: doors slamming by themselves, lights flickering, the TV turning on and off, missing items showing up in their correct places weeks after they disappeared. Her mother was staying with her at the time and was awakened at night by static like sound and she saw some sort of apparition in her bedroom doorway! 

I'm not exactly a chicken, but I have to admit my client is a lot braver than I would be in that situation. Courtney found these experiences to be strange but not really frightening and would try to recreate the odd occurrences to see if she could find a rational reason for the things she was experiencing. When she decided there was more to it than a breeze or electrical short, Courtney stopped in at Cauldron Kitty in Silver Lake for some advice. The knowledgeable staff listened to her story and came up with a spell they thought would alleviate the problem. 

 The helpful Cauldron Kitty staff sent her on her way with Frankincense resin, Rosemary oil and instructions for cleansing, blessing and clearing the condo of negative energy.  Courtney tried the ritual on her own and it appeared to solve the problem. Shortly after performing the ritual she called to recount her experiences.  Thinking it was pretty weird but being intrigued, I told her to call me if the problems reoccurred and she wanted to repeat the ritual.  The Caldron Kitty staff had told her it might be necessary to perform the spell more than one time.  Within a few weeks, odd things began to happen again and I joined her to go through the ritual a second time.

Obviously you have to have an open mind to try something like this and I was game.  Courtney lit the incense and we went room by room, spreading the smoky air and invoking the help of Saint Michael to protect and cleanse the home.  It's been more than a year since we went through this ritual together and apparently it worked like a charm. All is now quiet in her home!

Prior to this experience I might have thought the whole idea was preposterous. Let's just say I have a new respect for magic, witchcraft, spells and the staff of Caldron Kitty who really know their stuff.  I highly recommend stopping by their shop in Silver Lake to check out their wares and see if there isn't a spell that can improve whatever situation you may find yourself in! As they say on their website, "why not stop in for a spell? It may change your life!"

Caldron Kitty is located at 2818 Rowena Ave in Silver Lake, just down the street from The Edendale Grill in Silver Lake. They are openWed - Fri 12:00PM - 8:00PM, Sat 11:00AM - 7:00PM and Sunday 11:00AM  to 5:00PM.

For more information on Silver Lake, Los Feliz, Echo Park and to buy or sell area real estate, contact me directly at 213-215-4758 or check out LApropertySolutions.com

Broker Associate
Keller Williams Realty, Los Feliz
213-215-4758
http://www.LApropertySolutions.com

The Edendale Grill in Silver Lake - dinner and drinks in a restored  1920's fire station

Back in the days of silent films, Hollywood had yet to be born as "the movie capital of the world". At that time, the keystone cops and westerns were being filmed in parts of  Echo Park and Silver Lake once known as Edendale. It was here that trick rider and silent western star Tom Mix  filmed his first of many movies in 1910, later developing Mixville- his 12 acre western town and movie Studio. Not much is left of Edendale but a few buildings that still carry the name such as The Edendale Branch Library and  Edendale Post Office in Echo Park and The Edendale Grill in Silver Lake located just down the street from where Tom's Mixvill once was.

The Edendale Grill opened in 2002 by Patti Peck and Melanie Tusqeullas in former Los Angeles Fire Department Station 56.  It took these dedicated women more than two years to restore the 1924 abandoned firehouse to its pristine condition with its hardwood floors and original tin ceiling.  The restaurant offers both indoor and patio dining and is a popular spot for Sunday brunch for the Silver Lake  crowd.  The attached Mixville Bar with its long mahogany bar, stools and comfy club chairs once housed the station's fire truck. 

 
Edendale Firestation circa 1920. The area on the left that once housed the firetruck
is now The Edendale Grill's Mixvill Bar.

Rstored Tin ceiling in the Mixvill Bar

The Edendale Grill offers a varied menu including their delicious Tarragon Blue Cheese Fries, fresh salads, sandwiches, dinner entrees and desserts. One of their suggested cocktails is the Pimm's Cup- a concoction of James Pimm's created in 1840 as a digestive aid made with Pimms # 1 Cup, ginger ale, cucumbers and citrus.  Of course you can order your regular favorite if you're not feeling particularly adventurous!

Tom Mix and Tony the Wonder Horse

The reception area of the restaurant is a virtual historical museum of Edendale with framed photos of famous silent movie stars and filming locations in Silver Lakeand Echo Park.  Go to The Edendale Grill to check out the cool architecture of the restored firehouse and check out the movie history photos and articles on the walls, but definitely stay for dinner and a drink.  It's a Silver Lakefavorite.

The Edendale Grill and Mixville Bar is located at 2838 Rowena Ave. in Silver Lake. It is open daily for dinner and drinks with Brunch served on Sundays  from 10am until 3pm.

For more information on Silver Lake, Los Feliz, Echo Park and to buy or sell area real estate, contact me directly at 213-215-4758 or check out LApropertySolutions.com

Broker Associate
Keller Williams Realty, Los Feliz
213-215-4758
http://www.LApropertySolutions.com

Lago Vista is a Cool Mid Century Modern condo complex with all units overlooking Echo Park Lake!

There are a lot of folks living in and around Silver Lake and Echo Park who probably don't know that this particular condo complex exists. It's known as Lago Vista.  The complex was designed by a Mid Century Modern architect by the name of Allyn E Morris.  He liked to weave his slender structures to follow the shape of the land.  His first home was the Max Bubeck house in Eagle Rock, built in 1956 and he designed a number of inventive houses, apartment buildings, offices and shopping center. Most of his work included moderns properties built in the 50's, including his own house and studio in Silver Lake.

Lago Vista is a condo complex in Echo Park, created circa 1973 and if you can get a bird's eye view, it's obvious how he allowed the shape of the space to determine the shape of the structure. 

It's a uniquely designed midcentury modern built right at the cliff's edge with he lower building curves right along the ridge of the cliff that overlooks Glendale Blvd and the Echo Park Lake and california bungalows below.  It's quite a stunning piece of architecture offering panoramic views over the lake and downtown Los Angeles to all of it's units. The complex is divided into two buildings with manicured grounds, gated/secured entrance and parking with a lovely teardrop shaped pool.  All units are 2-level, townhouse style with walls of glass and balconies to take in the glorious views.

There are currently two units available in this Echo Park condo complex.  Unit 512 was the architect's own unit. It has been totally renovated and is the only unit with a working fireplace. It also has an extra large patio overlooking Echo Park Lake and comes with 2 dedicated parking spaces. This unit is in the back building and in great condition and is listed at $439,000.

 

 Unit 313 is also available and is located in the front building. It's right at the curve of the structure and offers a commanding view of Down Town Los Angeles as well as Echo Park Lake below and Angelino Height across the lake. Priced at $399,000, it's a great deal for such a prime location in a stellar complex.

 For more information on the Allyn E Morris and other midcentury modern architects, check out the book Forgotten Modern: California Houses 1940-1970 by Alan Hess.

 If you are interested in either of these units or any other condos, houses, or income properties in the Silver Lake and Echo Park areas, call me directly at 213-215-4758 or check out my website at LApropertySolutions.com

Broker Associate
Keller Williams Realty, Los Feliz
213-215-4758
http://www.LApropertySolutions.com

 Sunset Boulevard Nursery supplies plants and garden supplies to Silver Lake and Los Feliz Homeowners as well as folks in Hollywood, Eagle Rock and surrounding neighborhoods.

If you live in Silver Lake, Echo Park or Los Feliz, you may still be driving to Hollywood to Orchard Hardware Supply or Home Depot for plants and garden goodies.  Could it be that you didn't realize we have our own great little nursery right at the cusp of the Silver Lake - Los Feliz Border?  Sunset Boulevard Nursery, owned by Dennis Kuga, has been operating in Silver Lake for 46 years and is a great place to go for plants, pots, pond supplies and expert advice.

Sunset Nursery is located at 4368 Sunset Blvd., just north of Fountain.  Actually, their small parking lot is located on Fountain, just south of Sunset Blvd. Now that Circuit City is a thing of the past and nobody has taken over their old location, there's probably some spill over parking available in the lot next door- at least for the time being.

My dad had a total green thumb and was the king of thriving veggies and flowers at all times of the year. I think ours was the only house on the block with veggies growing in the front yard! We still had a nice green lawn, but the planter area around the house would team with bell peppers, egg plant, onions, beats and squash.. The planting area along the driveway next to the house always alternated between sweet peas (Love the scent!!) and tomato plants climbing way past the kitchen window, laden with some of the biggest most luscious tomatoes I've ever eaten! 

As a child, I would join my dad on his trips to the local nursery to pick up seeds, starter plants and fertilizer.  Perhaps that's why I so enjoy wandering around the Sunset Blvd Nursery.  It definitely brings back pleasant memories and roaming the aisles of this botanical wonder fills me with the desire to follow in my father's footsteps. I may not have inherited my dad's gardening gene, but I have my tomatoes and  zuchini growing nicely this year. I hae to laugh when a friend told me she'd forgot my actual street address but was able to find the house by the edible garden in front!

 
My backyard totatoes are starting to bud.                    Looks like my zuchini may take over the yard!

When I moved to Silver Lake, I first went to the big box stores for plants. Once I discovered Sunset Blvd Nursery, I never went back.  Nothing beats staff that really know their stuff and can tell you which plants thrive In shade, what needs full sun and what you should add to the soil to keep plants happy. You may end up paying a little more, but the plants seem to be healthier and survive the move from nursery to home garden a lot better than their less expensive counterparts.

Sunset Blvd Nursery has a great selection of flowers, herbs and edibles. They are also well stocked in waterscape supplies for the backyard pond enthusiast. There's a large selection of orchids, and don't even get me started on the pottery. I could spend hours looking through the choices from plain terra cotta to colorful multi-glazed pots.  

Whether you want to landscape your whole yard or just put a few potted plants on your patio or balcony, you're sure to find something you'll at this Silver Lake icon.  It's one store I never manage to leave empty handed!

 For more information on Silver Lake, Los Feliz,  Echo Park and surrounding areas, contact Jenny Durling at 213-215-4758 or check out LApropertySolutions.com  

 Broker Associate
Keller Williams Realty, Los Feliz
213-215-4758
http://www.LApropertySolutions.com