Hello, I am an agent in Los Feliz who actually grew up in Los Feliz.
With great confidence I can tell you that the area you choose is important, but there are also those special pockets and special homes in adjacent areas of Los Feliz that depending on your taste, could surpass your expectations, and the value of living "in the best area of Los Feliz".
I have shown houses in the Hollywood area that would take your breath away, homes on locations hard to find and easily overseen by agents and buyers alke. I recently listed a stunning view home in Silver Lake in a secluded cul-de-sac, modern and chic (2487 Lindsay Lane)
So, I would strongly advise to look at all the great homes in your preferred area, AND those in the surrounding areas.
Happy house buying, contact me if you want to find a hidden gem !