You've received a number of great answers here. The style of home you prefer, price range, views and lifestyle among other factors will determine the best area for you. There are several micro markets in Los Feliz and areas close by that might work excellent.
I recommend you talk to at least a couple of realtors here before deciding who you are most comfortable with. It would be a pleasure to meet you and discuss your expectations. I've helped several clients from NY find amazing places in Los Angeles...
Franklin Square is a term I haven't hear of, although I assume it refers to the village area of Los Feliz. Probably from Los Feliz Blvd down to Sunset Blvd, and from Vermont to Hillhurst. Franklin runs through the middle of this square area. Some of the homes in the village are fabulous as well and provide you with some of the best shops and eateries within a few steps from your home.
Thank you for your question.
Relocation is part art, part science.
We moved from another area to our current home and believe me, good advice is hard to come by.
If you would like, contact me via my Trulia profile and I would be happy to see if I can direct you to the right people. Based on your post I am unable to assist you directly, but have lived in LA for over 25 years and have some great contacts.
Jeff said it best below. Depending on what type of lifesyle fits you best, Los Feliz has many great options. There is also a gated community named Laughlin Park which has some of the most expensive homes in the area.
My office is in Los Feliz on Hollywood Blvd and I'm one of the top agents in the area. You can always reach me on my cell.
I am an active agent in this area and my office is located right in the Los Feliz village area. I would love to help you in more so please check out my website below and contact me anytime.
- Jeffrey White -