Great Park VS Playa Vista = Better Investment?

Playa Vista has a higher Value ratio that makes the rental parity too imbalance. It lacks the schools thus drawing a limited renter demographic. Greatpark does have a similar attitude as Playa Vista in term of best fitted for the Gen X and future generations of buyers looking for "cool" different from their parents or grand parents generation.
 
Won't that area be like a mini silicon valley with high wages to raise/prop up prices? 

Just like anything else it all comes down to timing. Early pavillion park buyers lucked out. People expecting similar returns on beacon park will be disappointed.
 
thelandofnoland said:
I also had this same question.

Playa Vista is divided into Phase I and II. I already sold out, and II is selling now. The homes in Phase I have a steep mello roos, but II has none since I has enough homes to pay it off (the builders decided to stop mello roos). Anyways, you can pay off the mello roos all at once, but it isn't recommended.

Playa Vista is really close to the beach and Santa Monica and is pretty vibrant. However, there is no such thing as an SFR in Playa Vista. All homes (even the $2.5 million ones) are detached condos or attached.

Prices have already gone up, unfortunately. HOAs for attached are pretty high, Camden being nearly $600/month because of the lobby and elevator.

Prima Terra - Sold Out; good deal at the down market if you payed only $700,000s, but it is part of Phase I and thus has the mello-roos.

Icon - Sold Out; same size as Trevion but tri-level. Some have 3-car garages! Buyers could have gotten over a $1 million equity if they bought it at the down market!

Camden - Started at Low $900,000s; now $1,000,000s
The only tract so far that has not experienced a huge jump in the prices, but it's probably due to the shared entrance and the fact that they are on Camden II now and there are III and IV tracts planned. 4-stories tall.  :(

Skylar - Started at the Low $1,000,000s; now $1.4 million
Attached flats like Camden, but separate entrances (no lobby). All residences have a private elevator. Garages are loaded onto a motor-court.

Woodson - Started at $1.2 Million; now $1.5 million
Detached tri-levels with front patio only (no true yard). Good deal if you bought it low. Has a private 1-car driveway next to each residence. Some have views (although I'm sure at a price).

Asher - Started at $1.4 Million; now $1.9 million. Also has the 1-car driveway.

Trevion - Sold Out; Started at $1.7 Million; sold out at $2.5 Million. Prices rose as crazily as La Vita Plan 4. Had no driveway next to each residence, but a side yard that is pretty big. Originally only 2-stories tall (only tract with 2-story offered in Playa Vista?), but there is a 3rd story option. Only 27 residences to begin with.

Overall, prices have already soared.  :(
Detached tri-level. Nice-looking, but prices have risen too high to justify it.
Click to expand...


If you are really interested, I think its better to buy resale. This area seems like the place to be, if you work around there. It's nice weather. This is the true "coastal living".

Seems like your familiar with the area, but those who are not beware of "Traffic on the 405."
 
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