Hollywood Real Estate Knowledge

Hollywood is a neighborhood which needs no introduction… Mention it anywhere in the world and thoughts of bright lights, red carpets and silver screens come to mind. It’s an area steeped in so much history due to the entertainment industry which continues to draw millions all over the world to get their slice of fame on the big and little screens everywhere.

Since Hollywood is so widely known, many think that it is a city when, in fact, it is a neighborhood of the city of Los Angeles. It was incorporated as a municipality in 1903 but was then consolidated with the city of Los Angeles in 1910. However West Hollywood and North Hollywood are in fact cities, just not Hollywood.

In brief, Hollywood became popular due to aspiring filmmakers wanting to evade the Thomas Edison Motion Picture Patents Company from suing them. The company was located in New Jersey. By venturing out to Los Angeles, it was easier to escape the control of Edison’s patents. Plus, the weather was better with ease in access to a greater variety in scenery for movies. By 1912, Los Angeles became the motion picture capital of the world.

The lower land prices in Los Angeles was another huge benefit. Along with the entertainment industry, real estate developers flocked to the area, such as H.J. Whitley, known for the neighborhood in Hollywood called Whitley Heights, and Harvey Wilcox who registered the subdivision of ‘Hollywood’ with the city of Los Angeles. Wilcox actually made the famous Hollywood sign to advertise the sale of his development called ‘Hollywoodland.’

The area kept growing with the development of more homes in the Hollywood Hills, and sub-neighborhoods being built up, such as Lake Hollywood, Whitley Heights, Hollywood Dell, Beachwood Canyon, Nichols Canyon and others.

Market Highlights for Buyers (Q1 2020)

Average Sale Price

$1.24M

Average Price per Sq Ft

$506

Market Highlights for Sellers (Q1 2020)

Homes for Sale

59

Homes Sold

20

Average Days on Market

61

Benefits of Luxury Living in Hollywood

People & Lifestyle

Hollywood Amenities: Dining, Shopping and more

Hollywood Neighborhoods

Search Homes for Sale in Hollywood

Lifestyle and Homes in Hollywood

The decline of the Hollywood neighborhood in the 80s was revitalized in the late 90s and 2000s when new TV networks came into the area, new apartment and condo buildings went up, and shopping areas like Sunset + Vine and Hollywood and Vine were redeveloped. 1,200 hotel rooms were also added which helped bring tourists in and push out the riff raff.

The main draws to Hollywood today are its centralized location in town and to the studios, wide array of amenities nearby, and private luxury homes in the east part of the Hollywood Hills.

During the 1950s, the Hollywood Freeway (or 101 freeway) was constructed. This allowed for major access to the rest of the city out west or east for a landlocked Hollywood. The major studios are also just on the other side of the 101 freeway in Burbank, which made it great for industry types.

The hills of Beachwood canyon, Nichols Canyon, Lake Hollywood and other areas provide an ideal retreat for celebrities and entertainment higher-ups wanting the location, privacy and views. There are also plenty of condos and lofts right in Hollywood like the new Residences at the W Hollywood and Columbia Square. Apartment buildings revitalized from Hollywood’s golden age are Gaylord Apartments, Hollywood Tower, Villa Bonita, and others.

Dining, Shopping & Entertainment

Hotels

The list of hotels in Hollywood is endless. The top hotels would be the W Hollywood, the Hollywood Roosevelt, the Loews Hollywood Hotel, and the Hollywood Hotel.

Restaurants

There are an assortment of restaurants and bars to suit whatever occasion calls. Trendy dining options that are a must is the Spare Room in the Roosevelt Hotel, Salt’s Cure, Pizzeria Mozza for some gourmet pizza, Petit Trois for French cuisine, Gwen for fresh meat and so much more.

Nightlife

Nightlife is what Hollywood is known for. Great afterhours bars are Good Times at Davey Wayne’s where celebrity sightings are common and also is a line around the block, the Argyle, Avalon Hollywood, Sunset and Vinyl, the Wall and more. The Magic Castle is also one of the best times you will have with friends. It’s a castle in Hollywood that brings the best of the best magicians to entertain those who are lucky enough to know someone to get an invite.

Parks & Nature

In the Lake Hollywood neighborhood is a great park and dog park as well. The Hollywood Sign has a park with trailhead. Griffith Park has a hiking trail where the Griffith Observatory is. Runyon Canyon Park is also a huge Hollywood attraction for hiking and celebrity sightings.

Top-Rated Schools in and around Hollywood

The high-rated Hollywood Hills schools are a huge draw for families. The big item to note in a home search is that only homes located within Hollywood Hills proper are able to take advantage of its public schools, as well as fire and police departments.

Gardner Street | 7450 Hawthorn Ave, Los Angeles 90046
Selma Avenue | 6 6611 Selma Ave, Los Angeles 90028
Cheremoya Avenue | 6017 Franklin Ave, Los Angeles 90028
Alissa Voogn | 6354 Weidlake Dr, Los Angeles, CA 90068
Joseph Le Conte | 1316 N Bronson Ave, Los Angeles, CA 90028
Hollywood High | 1521 N Highland Ave, Los Angeles 90028
Harvard Westlake School | 700 N Faring Rd, Los Angeles 90077
Harvard Westlake Upper School | 3700 Coldwater Canyon Ave, Studio City 91604
Good Shepherd | 148 S Linden Dr, Beverly Hills 90212
St. Paul the Apostle | 1536 Selby Ave, Los Angeles 90024

Lake Hollywood

Sitting in the shadow of the iconic Hollywood sign lies this beautiful community crested with the Hollywood Lake reservoir.

Beachwood Canyon

These private hills tucked away in Hollywood give homes privacy yet immediate access to all the best of the city.

Nichols Canyon

Like a forested retreat, this neighborhood hides homes with spectacular city views at the top of Laurel Canyon.

Whitley Heights

An area so steeped in Old Hollywood history which has become a historic neighborhood with homes unchanged to preserve the great Roaring 20s.

Hollywood Dell

This area has preserved the Mediterranean and Spanish Colonial-style homes of the 20s as if it were a snapshot of Hollywood’s creation.

Runyon Canyon

Known for its famous mountain trails, this neighborhood displays gorgeous homes and sprawling gated estates.

Contact the Gray Group to learn more about this unique lifestyle and Hollywood homes for sale today.