Bypass Hollywood vendors peddling “maps of star’s homes” (a popular tourist scam) and head over to Hancock Park, one of L.A.’s most prized neighborhoods. Some of the most eccentric residential architecture in the city can be found here. Many of the large mansions were built for old film producers and directors, and even Mae West once called this neighborhood home.

Now is the perfect time for the savvy investor to snag an affordable Los Angeles property. Due to recent economic conditions and the foreclosure rate, once out-of range homes can now be had at more reasonable prices, including those in coastal communities with beach proximity.