Pico-Union is a Historic Preservation Zoned (HPOZ) neighborhood within the City of Los Angeles. It is a small sized, low density, urban neighborhood bordered by Olympic Boulevard and Pico Boulevard to the North, 10 Freeway to the South, Hoover Street to the West and the 110 Freeway and Union Avenue to the East. It is also located 2 miles west of Downtown Los Angeles.
The neighborhood received its HPOZ designation in 2004 and is a densely populated, diverse and culturally rich area known for its mix of residential and commercial properties. Single-family residences in the area feature a broad range of architectural styles including late 19th century Victorian-era cottages, early 20th century Craftsman and Mission Revival bungalows and larger homes in Period Revival or Classical styles.
The real estate market in Pico-Union is considered affordable compared to other neighborhoods in Los Angeles. Prices for homes in Pico-Union range from the low $300,000s for a one-bedroom condo to over $1 million for a large, single-family home. The real estate market in Pico-Union is considered a balanced market, with moderate demand and a reasonable amount of inventory. Factors contributing to the real estate market in Pico-Union include its central location near downtown Los Angeles, its affordability compared to other areas of the city, and its diverse array of residential properties.
Pico-Union is also known for its proximity to major employment centers, such as downtown Los Angeles, making it a convenient location for commuting. Despite its affordability, this neighborhood has been undergoing gentrification in recent years, leading to increased property values and the redevelopment of older properties.
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We here at LA Home Appraisal, are Certified Residential Appraisers with over 2 decades of experience in the Los Angeles County market. There is not a single area within this region that we have not appraised. We understand the vastness and complexities of each neighborhood and the importance of local knowledge in providing you with an accurate home appraisal.
