THE NEIGHBORS
Mt. Washington is located in Northeast LA, neighbored by Highland Park, Cypress Park, Glassell Park, and Eagle Rock.
THE VIBE
Almost entirely residential with a population under 15k within its 2 square miles of hillside terrain that has largely warded off major developers, Mt. Washington has maintained its charm as an intimate community with a laid back, bohemian feel and a great diversity in architectural styles.
Winding roads and multiple public green spaces offer endless sweeping views of this majestic hill that, according to the NY Times, “could be mistaken for Tuscany.”
FUN FACTS
Modern development of Mt. Washington is credited to Robert Marsh, a real estate developer who imagined it as a luxurious hilltop neighborhood, complete with an incline railway to access the Mt. Washington Hotel at its summit.
Origin of the name is unclear, but the prevailing theory is that Marsh named the hill after Col. Henry Washington, who surveyed the land, leading to its development.
Mt. Washington Hotel operated from 1909-1916, and existed briefly as a boarding school, then a hospital, prior to its current incarnation as the internation headquarters for the Self-Realization Fellowship in the mid-1920s.
The former incline railway station located at Marmion Way and Ave 43 is still standing as a residential duplex.
The highest point of Mt. Washington is 940 ft above sea level.
Eldred Street, with a 33% grade from its base to its dead end, is the steepest street in LA!
THE MARKET
Over the past decade, home prices* in Mt. Washington have jumped from an average of $449k in 2012 to $1.37M so far in 2022, representing a 205% ROI.
From 2017’s average of $867k, the return over the past 5 years is 58%, and last year’s $1.19M average marked an 14% improvement from 2020’s average of $1.04M.
62 Mt. Washington homes have sold to date in 2022, sitting on the market for an average of 16 days each.
SOURCES
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