If you’re thinking about buying a condo near UCLA, there are several areas close to campus you should consider. To the West of campus are most of the apartments that are rentals mixed with condominiums. Over the past few years more newer construction apartments and condominiums are being built. These buildings vary within by streets that have older “student” apartment buildings. The newer construction condo’s are more expensive than the older buildings. By the time you pay a minimum of approximately $3000 monthly for an individual 1 bedroom apartment which is $33,000 annually ,students may consider buying a condominium. Your monthly payments would be going towards ownership. At the end of your term at UCLA you may rent your condo for a monthly income, or choose to sell it. If you stay living in Los Angeles you may want to continue living there. Condominiums are not inexpensive in this central area of Los Angeles. If you are attending UCLA for a 3 year program it makes sense to buy a condo near UCLA . Down payments run 20% of the purchase price. Although there have been some bargains over the past few years under $500,000.00 purchase price, they are harder to find close to campus lately.
The average two bedroom condominium in the area is around $650,000-$850,000 . Depending on whether you choose a high rise that may have more amenities including security, pool and gym you will find the additional homeowners dues can really vary. If you buy a condo near UCLA in a smaller building the HOA fee’s can be $350 to $800.00 average at the time of this article posting. There are more smaller buildings further distance from campus which require a car or riding the bus, scooter or bicycle. Just South of Wilshire Blvd there are many options for smaller buildings .
In addition ,if you want to buy a condo near UCLA you can choose among many high rises that line the approximately 1 mile stretch of the Wilshire Corridor. This is a strip of high rises close to campus. Some are within walking distance, some are further. There are several other high rises in the area. The high rises in the area average $500,000-$3,000,000. They will have higher HOA dues than the smaller buildings. There are many foreign and American buyers who have held investment condominiums in the area for a long time. Depending on the amenities of the building affects price and HOA dues.
If you are thinking to buy a condo near UCLA contact me to learn all about the area and what would be the best choice for you. It is a fabulous part of Los Angeles with many restaurants, grocery stores, museums, places of worship, parks, shopping and public transportation. The condominiums for sale are close to Beverly Hills and Century City. Values have continued going up in the area. 310-383-0831. www.caronschwartz.com #condowestwood #westwoodcondo #wilshirecorridor