Looking for a completely, remodeled corner unit condo in Encino? STOP & WATCH this video!!

For a private tour, call/text the listing agent, Daniel Madariaga, at 818-445-7953. For more info, visit DensmoreCondo.com.

Located South of Ventura Boulevard, within the Lanai Road Elementary school district, on the same street with multi-million-dollar homes, you will find this completely remodeled 3-bedroom, 2-bathroom ground-floor corner unit!

This open-floor plan home has a huge living room and large private patio, perfect for a BBQ. There is also a gigantic community side yard right off the unit. Close the gates and let your pets explore or play a game of soccer with the kids! The spacious kitchen has brand-new stainless-steel appliances, custom cabinets, and a breakfast bar. The primary bedroom has an ensuite bathroom with double sinks.

Other features include central AC and heat, copper plumbing, recessed lighting, 2 private parking spots in a secured access subterranean garage, and plenty of guest parking. The complex has a big pool, clubroom, and BBQ area. Pets are welcome, earthquake insurance and water utility are included, and the building is FHA-approved. Purchase this unit with as little as a 3.5% down payment.

If you are looking for a remodeled South of Ventura Boulevard 3-bedroom condo, with plenty of outdoor space, at a great value, this just might be the home for you.

You need to earn $221,592 to afford a typical home in LA

An analysis from the real estate site Redfin finds that would-be homeowners now need to earn $200,000 or more in eight U.S. cities, including L.A. This is because the average rate for a 30-year fixed loan is now hovering near 7%. Mortgage payments rose by an average of nearly 46% over the last year.

The typical U.S. homebuyer needs to pull down about $107,000 a year to afford a median monthly mortgage payment of roughly $2,700. Only a year ago, your salary needed to be closer to $74,000.

But some locations are much, much more expensive than others. In L.A., the median home price is $823,500. That means, by Redfin’s calculation, you need an annual income of $221,592 to make the numbers work.