A newly-completed, luxury modern off of Alana Drive in the Sherman Oaks neighborhood of Los Angeles is currently on the market for $7.995 million, and while listings at this price are still a somewhat rare occurrence in the San Fernando Valley, they have grown ever more frequent in recent years.
Even in the last ten years, the San Fernando Valley market has undergone sharp changes—the median home price in valley neighborhoods as of last month was just under $1 million, an almost 70% increase from 2010.
As prices continue to rise across Los Angeles, San Fernando Valley pockets like Sherman Oaks, Encino and Studio City that are adjacent to desirable areas such as West Hollywood, Beverly Hills and Westwood have seen a sharp increase in interest from both buyers and developers, who are building up the luxury market with new construction products.
“Buyers are becoming a little less location-specific,” says Hilton & Hyland’s Jonathan Nash, who holds the listing. “They’re looking for a type of home, and they want something that’s well-conceived and well-appointed.”
With a large portion of the real estate in the San Fernando Valley being comprised of post-war residences from the 1950s and 60s, new construction like the home at 3369 Alana Drive can feed the current buyer’s appetite for luxury amenities and modern architecture.
Tucked away at the end of a long, private driveway, the 6,195 square foot residence houses six bedrooms and eight baths and an array of living and entertaining spaces throughout the open-floor design.
Large Fleetwood doors in most rooms provide seamless transitions from indoor to outdoor, including massive disappearing glass walls in each of the four upstairs en-suite bedrooms leading out to covered balconies.
Textures and tones are smooth and bright with white marbles, light wood accents and sharp, clean lines, following modern architecture’s trend towards minimalism. More decadent touches, however, can also be found throughout the house, seen in fixtures like the various chandeliers, the see-through fireplace and the transom windows.
Outdoor spaces are sizable and plenty, including an infinity pool with sun deck, al-fresco dining areas and a barbecue, bar space with island seating, all with sweeping views of the San Gabriel Mountains.
Situated off the street on roughly three-quarters of an acre of hillside, perhaps the location’s most alluring quality is its hidden, yet vast position says Nash.
“It’s a combination of exceptional, far-reaching views and privacy.”
With new construction products drawing interest from high-net-worth buyers in the San Fernando Valley, luxury homes like this modern masterpiece will continue to change the landscape of an already dynamic market.
