Universal City is an unincorporated area within in the San Fernando Valley region of the city of Los Angeles, California. Approximately 415 acres (1.7 km²) it's the property of Universal Studios, one of the six major film studios in the United States. Approximately 70 percent of the property is inside an unincorporated community surrounded by the City of Los Angeles, while the remaining area is within the Los Angeles city limits. The 70 percent portion of the property remains unincorporated to avoid the City of Los Angeles' business taxes and regulations (the community has a building permit office on site in order to simplify the building process).