Nov 14, 2009
Lately I have had a lot of interest in the Nichols Canyon section of Hollywood. This has always been a favorite area of mine and one that I have spent a lot of time showing clientsÂ various properties. Nichols Canyon is located off of Hollywood Blvd between Laurel Canyon (the turn off is right where Crescent Heights turns into Laurel) and La Brea. For those of you who are new to the area, this is an extremely residential section of Hollywood Blvd boastingÂ Palm tree lined streets with large homes and well kept multi family dwellings. What makes Nichols Canyon so wonderful is that it has a very woodsy, natural vibe right in the epicenter of the West Hollywood/Hollywood area.
Nichols consists of anÂ eclectic mix ofÂ mid centruryÂ homes tucked away off the street in the low 1 million range as well as stunning architectural properties that can start at $5,000,000 plus. The streets off of Nichols like Astral and Solar command some on the most spectacular canyon and city lights views town.
Since September 1, 2009 to the time that I am writing this entry, there have been fiveÂ closed escrows ranging from $1,229,000 (short sale) for a 3br/2ba fixer to a $2,825,000 for 3br/3.5 ba classic Smatherâ€™s Spanish colonial also with pool. TheseÂ listings have had an average days on the market of roughly three months with a blended average cost per square feet of $596.20. Homes is this area are selling fast and definitely retaining their value. There are currently 7 homes on the market as of now with a best buy on neighboring street Willow Glen for $999,000.Â Because Nichols Canyon is off the beaten path, Iâ€™ve found that there are wonderful deals to be had for all levels of buyers. Itâ€™s a nice alternative for those looking for location and convenience in the hills, but want more bang for their buck. Since September 1, 2009 (the time I am writing the post), there have been five closed escrows rangingÂ $1,229,500 (short sale)Â for a 3br/2ba semi-fixer with a pool to