@Will F. First of all Cypress Park will forever be immortalized the group CYPRESS HILL (who hail from that neighborhood and went on to Pop stardom - "Dr. Green thumb"!!!). HA!
Let me qualify that my response is based on what I've seen driving through the area, what the locals have told me and not numbers. That being said, Cypress park is on the upswing. Gentrification is in effect. There are some pockets that are lagging but the writing is on the wall.
Yes, "back in the day" Cypress Park like a lot of areas in LA had declined badly. But that was back in the day.
A few weeks ago, we were at a party at my wife's Board chair's Condo in Monterry Hills (less than 5 lies away from Cypress Hills) - he buys, renovates and moves on.
Monterry Hills is also close to Mt Washington where we also have a number of friends. That whole area reminds me of the Hollywood Hills right now. And you are right, we have friends renovating a home in Mt Washington that was bought for $700+K.
Needless to say, this Condo in Monterry Hills had been renovated superbly!!! The whole complex was stunning. Trees for days! I couldn't believe what I saw. The Babbling books (in the back yard), a vertical garden (which I am obsessed with, Eames furniture… the works! Very Pacific Palisades, and very California type living! I chatted with this high school teacher who owned a home in Mt Washington and he literally sold me (all over again) on the surrounding areas which includes Cypress Park. Depending on who your potential tenants may be, the high school teacher told me about a charter school in that area that is getting really high marks. (I think it's in Mt Washington).
I'm not sure what @Emerson Miranda @Daniel Sanchez and
@Jon Huber have to say about this area but as far as I can see and have heard, gentrification is in full effect in Cypress Park, CA.
Keep us posted on your findings!
