Beyond the Numbers: The Harvard Heights Experience

Now, I could bore you with endless statistics, but let’s be real – you can find those anywhere. What you can’t find is the feeling of community that hits you when you walk these streets.

Take it from Natalie Neith, a Compass Realtor who knows these blocks like the back of her hand: It has that sense of community, which I’m not so sure you find in other places in Los Angeles. Here, we know each other.

And she’s not wrong. This isn’t some sterile, cookie-cutter suburb. It’s a place where neighbors become friends, where block parties are still a thing, and where you might just find yourself helping to repaint the house of a longtime resident because that’s just what you do here.

The Harvard Heights Home-Buying Hustle

Let’s talk strategy. You’re not just buying a house; you’re investing in a lifestyle. And in Harvard Heights, that lifestyle is all about preserving the past while embracing the future.

Consider the case of Eric Bronson, a resident who’s painstakingly restoring his Frank Tyler-designed home. He’s not just fixing up an old house; he’s preserving a piece of LA history. And guess what? The neighborhood loves him for it.

But it’s not all about living in a museum. Dario Svidler, Partner CRE’s Executive Vice President, puts it perfectly: Harvard Heights is on the path of progress. There is a lot of investment wanting to be placed here.

Translation? This neighborhood is a goldmine for those who can see past the sometimes peeling paint to the potential beneath.

The Investment Potential of Harvard Heights

Let’s crunch some numbers:

1. Price Appreciation: According to Zillow, home values in Harvard Heights have increased by 5.2% over the past year.
2. Rental Potential: With its proximity to downtown LA and USC, Harvard Heights is becoming increasingly popular with renters. The average rent for a 2-bedroom home in the area is around $2,500 per month.
3. Renovation ROI: Homes in historic districts like Harvard Heights often see a higher return on investment for renovations, especially when done in keeping with the home’s original character.

Case Study: The 1906 Craftsman Revival

In 2019, a young couple purchased a dilapidated 1906 Craftsman for $750,000. Over the course of two years, they invested $250,000 in historically accurate renovations, including:

• Restoring original woodwork and built-ins
• Updating the kitchen and bathrooms while maintaining period-appropriate aesthetics
• Adding a period-correct addition to the back of the home

In 2022, the home was appraised at $1.5 million – a 50% increase in value. But more than that, the couple became local heroes, with neighbors stopping by to admire their work and ask for renovation advice.

The Nitty-Gritty: What You Need to Know

Alright, let’s get down to brass tacks. Here’s what you need to know about buying in Harvard Heights:

1. Homes typically sell after 73 days on the market. That’s a bit longer than the national average, but it gives you time to really fall in love with a place.

2. The price per square foot varies widely, from around $400 to $800, depending on the home’s condition and historical significance.

3. Speaking of space, many homes here come with substantial lot sizes. We’re talking enough room for a garden, a pool, or that outdoor pizza oven you’ve been dreaming about.

4. And let’s not forget about those detached garages. They’re not just for cars – many buyers are turning them into ADUs (Accessory Dwelling Units) for extra income or space for visiting in-laws (your choice).

The Harvard Heights Housing Stock: A Closer Look

Let’s break down the types of homes you’ll find in Harvard Heights:

1. Craftsman Bungalows: These make up about 60% of the housing stock. Prices range from $800,000 to $1.5 million.
2. Victorian Mansions: Comprising about 20% of homes, these grand ladies can fetch anywhere from $1.2 million to $2.9 million.
3. American Foursquare: Making up 15% of homes, these practical beauties range from $900,000 to $1.8 million.
4. Colonial Revival: The remaining 5% of homes, these stately residences typically sell for $1.1 million to $2.2 million.

The Renovation Reality

If you’re considering buying a fixer-upper in Harvard Heights (and let’s face it, with these historic homes, there’s always something to fix), here’s what you need to know:

1. HPOZ Approval: Any exterior changes will need to be approved by the HPOZ board. This process can take 2-4 weeks.
2. Specialized Contractors: You’ll want to work with contractors who have experience with historic homes. They’re not always the cheapest, but they’ll save you headaches in the long run.
3. Hidden Costs: Be prepared for surprises. Old homes often have quirks that aren’t visible until you start renovating. It’s wise to budget an extra 20% for unexpected issues.
4. Energy Efficiency: Upgrading an old home to modern energy standards can be challenging but rewarding. Consider working with an energy auditor to identify the most impactful improvements.

Your Harvard Heights Home Buying Checklist

1. Research the HPOZ: Familiarize yourself with the Harvard Heights HPOZ guidelines. Understanding these will help you know what to expect in terms of renovations and maintenance.

2. Get a Specialized Home Inspection: Old homes can have unique issues. Work with an inspector who specializes in historic properties.

3. Check for Mills Act Eligibility: This could save you thousands in property taxes. The City of Los Angeles has more information on this program.

4. Connect with the Community: Join the Harvard Heights Neighborhood Association before you even move in. They’re a wealth of information and can help you get a feel for the area.

5. Plan for the Future: Consider how you might want to modify the home in the future. Will you need to add space for a growing family? Are you interested in creating an income property with an ADU?

Remember, buying a home in Harvard Heights isn’t just a transaction – it’s a transformation. It’s about becoming part of a story that’s been unfolding for over a century, and writing your own chapter in it.

The Future of Harvard Heights: What’s on the Horizon

As you consider making Harvard Heights your home, it’s worth looking at what the future might hold for this historic neighborhood:

1. Transit-Oriented Development: With the expansion of LA’s metro system, Harvard Heights is becoming increasingly connected to the rest of the city. This could lead to increased property values and new local businesses.

2. Sustainability Initiatives: The city of Los Angeles has set ambitious sustainability goals, and historic neighborhoods like Harvard Heights are finding innovative ways to blend preservation with eco-friendly practices.

3. Tech Industry Influence: As Silicon Beach continues to grow, neighborhoods like Harvard Heights are attracting tech workers looking for character-filled homes and a sense of community.

4. Continued Preservation: The strong HPOZ regulations suggest that Harvard Heights will maintain its historic character for decades to come, potentially increasing property values as similar neighborhoods succumb to development pressure.

So, are you ready to make your move? Because Harvard Heights is ready for you. The only question left is: which of these historic gems will you call home?