While Beverly Hills, Malibu and Pacific Palisades get the most press for their palatial estates, pockets of the San Fernando Valley can go toe to toe with L.A.’s best neighborhoods for spectacular residences and stratospheric prices. The Top Home Sales supplement in this year showcase some of those properties.
Brokers who spoke to the Business Journal – Rodeo Realty’s Milla Pariser, Matthew Altman of the Altman Brothers at Douglas Ellison and Lisa Gaber of Los Angeles Property Investments – identified the Valley’s poshest neighborhoods and shared what makes each these enclaves so coveted.
HIDDEN HILLS As the name suggests, the 1.7-square-mile gated community tucked away near the Santa Monica Mountains on the Valley’s western edge offers a sanctuary from urban noise and fans. This countrified neighborhood bordering the Upper Las Virgenes Canyon Open Space Preserve recently commanded the highest residential prices. For example, the abode at 24220 Long Valley Road fetched $19.3 million in an April deal closed by Angel Salvador at The Agency. Breathtaking homes, small-town feel, hiking and equestrian trails and — for the rich and famous — privacy: three tiers of security and a no-fly zone to keep away the paparazzi.
CALABASAS Located between the 101 freeway and coastal Malibu, this extravagant enclave for the affluent has its folksy Old Calabasas district and Caruso experiential retail center The Commons at Calabasas at its heart. Over the years, this scenic, spacious city has become a favorite not only for high-level executives at tech companies and financial institutions working at neighboring Warner Center, but also a home base and playground for actors, athletes, rappers and social media stars. Former couple Kanye West and Kim Kardashian heightened the community’s exposure to the world on their long-running reality series “Keeping Up with the Kardashians.” Altman sold Jake Paul’s house at 23590 Park South St. for $6.1 million and has sold other houses on Park South Street, including one in July for $7.7 million.
“The ones who don’t like Mid-Valley end up in Calabasas,” Pariser said. “The Oaks in Calabasas is most expensive. Homes go for $3 million to $6 million while the homes behind the second gate have gone up to $35 million.” ENCINO & SHERMAN OAKS Central to the Valley and minutes away from Ventura Boulevard retail and country clubs, Encino’s most expensive abodes tend to cluster south of the 101 freeway. Adjacent Sherman Oaks to the east has access to shopping malls such as Westfield Fashion Square and the Galleria, and the 405 freeway, the gateway West Los Angeles, Santa Monica, Brentwood and Beverly Hills.
“Sherman Oaks is cool and hip and has all those restaurants and is a little bit more like the Westside; Encino is more relaxed and quiet,” Pariser said.
Altman said that Royal Oak Place is the street with Encino’s most expensive homes while Longridge Estates has Sherman Oaks’ highest-valued properties. Dennis Chernov of Keller Williams and Adi Livyatan at Rodeo transacted the sale of 3951 Royal Oak Place for $10.5 million in April while Altman sold 3950 Royal Oak Place for $13.8 that same month.
THOUSAND OAKS & WESTLAKE VILLAGE Suburban Thousand Oaks has plenty of residential and recreational charms, such as condos around Los Robles Greens and North Ranch golf clubs, while Westlake Village, on the border of Los Angeles and Ventura County, comprises the cozy commercial center of Thousand Oaks as well as rolling hills and a lake with marina on its rural side.
“Westlake is also beautiful but more of a drive than Calabasas and Woodland Hills,” Pariser explained. “You’re adding another 30 minutes of traffic if you have to get anywhere.” Yet the fact that it is tucked away in the Conejo Valley makes Westlake Village attractive to homeowners and there are many spectacular residences lakeside. Earlier this year, Walt Disney Co. Chief Executive Bob Chapek purchased a $12.5 million mansion on 6 acres in Westlake Village.
STUDIO CITY As its name suggests, this East Valley locale borders the mecca of entertainment studios and production houses, headed by Warner Bros.
and Walt Disney Co.
in Burbank and Universal Studios in Universal City. With the explosion of streaming services driving content demand, living in proximity to only assures that houses will be expensive. Gaber said that affluent Colfax Meadows is “the true Studio City” when it comes to high-end residential. Recent home sales have included 11576 Dilling St. for $6.7 million and 3958 Sunswept Drive, which sold for $6.35 million.
TOLUCA LAKE Bordered by Universal City, Studio City and NoHo, this corner from Hollywood’s golden era is located a stone’s throw from the television and movie studios. Historically, stars such as Bob Hope and Tennessee Ernie Ford called this charmingly dated East Valley neighborhood home, as have recent celebrities Viola Davis and Steve Carell. Carl Gambino at Compass sold the property at 9928 Toluca Lake Drive for $7.25 million.
– Michael Aushenker
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