While the average American is out of shape, Downtowners and urbanites in general are some of the most fit people in the world. They like to walk and stay in shape. Staying fit in Downtown LA can be easier than the suburbs because most of the condos for sale and for lease are within short walking distance to so many great shops and entertainment venues. Young urban professionals are often competing in the dating world, and want to sport an attractive athletic body to help score the best catch. Others simply want to be healthy. While we get to walk more, it’s also a quick walk to many exciting bars and restaurants, and walking around may not be enough to stay in the kind of physical shape that we want. More than half of the condo buildings in Downtown have some kind of workout room or gym as part of the condominium building homeowner’s association amenities. For those who choose a building without a gym, there are several commercial gyms in DTLA, including LA Fitness, Gold’s, Equinox, Trojan Crossfit, 24 Hour Fitness, City Athletix, Los Angeles Athletic Club, FitPros LA and YMCA.
The loft conversion boom reads like an obituary: #LA #Historic
Downtown Los Angeles — Loft boom (2003 to 2013), died three years ago at the age of 10. The large number of conversions was part of the transformation and renaissance of Downtown Los Angeles from a place of blight to a prosperous, rapidly growing area of urban renewal, attracting the middle class and wealthy to return to the Downtown area. The loft conversion boom died at the end of 2013 after the birth of its last child, Barker Block Warehouse One
From 2003 to 2013, many old LA buildings were converted to live/work lofts under the City of Los Angeles Adaptive Re-use Ordinance. Since then, one developer attempted to go condo with an already converted loft rental historic building called The Title Guarantee Building by Pershing Square. The loft condominium sale was abruptly called off just hours before Downtown agents were schedule to meet for its launch briefing. The Downtown specialist agents and brokers were bummed because selling conversions accounts for up to half of their incomes. While the developer would not provide a reason for the sale cancellation, the rationale is clear… like other loft conversions before it, the developer planned to sell the units as condos, but later crunched the numbers and realized that the long-term big money is in renting out the units, not selling them. Title Guarantee was not alone in being built for sale but then never selling; Chapman Flats, The Brockman and others were designed to be condos, and may still go condo when the time is right.
As Downtown rents skyrocket, increasing on average more than $400 per month in less than 3 years, landlords and rental building owners have profited handsomely. With now more than 500,000 jobs, Downtown LA is a boomtown of employment and rentals. Of course, most DTLA condo owners are doing well, sitting pretty on loads of equity, and able to lease out their units at higher-than-expected rent amounts. Many new apartments are being built recently, as well as a few new high-rise condo buildings such as Metropolis and Ten50. As renters continue to flood into Downtown, the rental boom is expected to continue for many years, while those who prefer to own a historic loft are left with a very dwindling inventory and pricey choices. Many Downtown home buyers now end up buying homes outside of Downtown, such as the new homes on the LA River.
The death of the conversion boom is not necessarily all bad. The lack of new conversions creates scarcity and higher prices, thus leads to more value and equity for those who own a historic Downtown loft.
The homeowners of 1100 Wilshire got what they asked for, but apparently paid an extremely hefty price.
What is, for the moment, still among the most respected buildings in the Downtown Los Angeles area has been trying for years to get all of its 3 or so commercial spaces filled up with businesses. Everything was going great until they gave away the farm to Chase Bank. (Lesson learned: Always be very cautious when dealing with banks because they are naturally the best swindlers out there — for banks, it really is all about the money). Now Chase basically controls 1100 Wilshire, which you can easily see after they pulled down the 1100 sign, replacing it with the Chase sign. The sad result so far is that the extra money from Chase does not appear to cover the cost of all of the extra wear and tear on all of the interior areas from the parking and elevator halls to the once-pristine lobby, which is not so pristine any more. There is so much soil and wear from the foot traffic, that busy maintenance crews now appear to have trouble keeping up. Worst of all, LA Loft Blog sources say that the HOA actually gave up control of its valuable, once plentiful guest parking to Chase as well. It’s now a lot harder to have visitors over, so the once-social residents must now kiss their many friends goodbye.
Now the Chase problem is unfortunately only the beginning of 1100 Wilshire’s woes. Homeowners recently called an emergency meeting to try to come up with a strategy to prevent the future blockage of 1100 Wilshire’s pool deck by the upcoming 36-story behemoth Bixel Tower. 1100’s glorious 17th floor sundeck with high-end infinity pool, outdoor kitchens, hot tub spa with views, private party patio, cabanas and fire pit, the entire 17-th floor rooftop sun deck and south-facing units could soon be blacked out by the upcoming Bixel Tower. This will block the natural light and views, thus diminish the property values of 1100 Wilshire condominiums.
Our guess is that the residents of 1100 Wilshire, angry at getting taken recently by Chase, will vent their frustrations at Bixel tower, perhaps putting a damper on Bixel’s sky-high aspirations.
Find out what Downtown loft and condo buildings are involved with lawsuits and litigation. Fill out the online form:
MODERN FLATS IN L.A’S ARTS DISTRICT
The Garey Building Apartments is a new modern living, dreaming and creative hub in the Arts District fueled by visionaries and designed to inspire. Distinctive rental flats rise above a pedestrian promenade filled with shops, cafés and spaces for impromptu gatherings. Say hello to a truly unique community in LA’s most vibrant neighborhood.
Personal Balconies or Patios*
Open Layouts with 9-Foot Ceilings Throughout
Distinctive Wood-Style Flooring Throughout
Energy-Efficient, Dual-Pane Windows
Gourmet Kitchens with Gas Stoves
Stainless Steel GE Energy Star Appliances
Quartz Countertops Throughout
European Style Cabinetry
In-Unit Washers and Dryers
USB Charging Outlets
Generous Walk-In Closets*
Spacious Linen Closets
Centrally Located In the Heart of Downtown L.A. Arts District
Restaurants, Entertainment and Shopping within Walking Distance
Close to Music, Arts, Theaters, Museums, Galleries and Sports Venues
Easy Access to Public Transportation
Garage Parking Available
Excellent Freeway Access
Light Rail Access
Professional On-Site Management
On-Site Recycling Program
Electric Vehicle (E.V.) Charging Stations
The Collective – Ground floor gathering space with individual work stations, a conference room and a comfortable resident lounge
The Improvement Club — State-of-the-Art Fitness Room
The Post — Resident Mailroom
The Pet Perks — Dog Run, Pet Salon and Off-Leash Dog Park – We Love Pets!*
The Spoke and Wheel — Bicycle Storage and Repair
Lounge 905— Indoor Multimedia Social Zone and Hangout
The Library — Indoor Lounge and Reading Area
The Union — Indoor/Outdoor Lounge Area
The Retreat — Pool and Spa with Gas Barbeques, Fire Pit, Lawn Games, Cabanas and Fountain
The Yard (North and South) — Lush Outdoor Areas Tailored for Entertainment and Relaxation
The Lookout – Rooftop Deck with Incredible Views of Downtown Los Angeles
The Gallery — Leasing Office
NEW ON THE MARKET! 200 N San Fernando Rd, Los Angeles, CA 90031 Alta Live-Work Loft Condominium For Sale 1,440 Sq Ft in Lincoln Heights by Downtown L.A.
Live in a loading dock! Industrial live work loft with open space, a massive wall of windows and roll-up warehouse style door in a former paint warehouse. 1 bedroom, 2 bathroom live/work dramatic 3-level living space with very high ceilings. Comes with two side-by-side covered parking spaces in a gated garage, fitness center, social room, BBQ area and evening security. Awesome authentic industrial character. For more information about this and other Alta lofts for sale, call Corey (213) 880-9910
Get Alta lofts listings in your email. Fill out the online form:
While most Downtown LA homes are now selling at a negative cash flow, some investors are getting 6.6% to 56.6% Cash on Cash Return on America’s best turn-key investment income properties starting around $33,000.
This is really good news for Downtown and LA area prospective home buyers who are looking for good investments that they don’t need to live in. Many renters enjoy their lifestyle in Downtown, or sometimes highly mobile lifestyles, and they would like to own a property and possibly be a landlord of a rental property that can bring retirement income.
While Downtown LA lofts and condos have been superior investments for several years, not everyone can afford $400,000 to $800,000 or more to buy a property. Also, the rents are no longer keeping pace with monthly mortgage, HOA and other expenses in the Los Angeles area. For those who need an immediate positive cash flow, getting more a lot more money than paying out monthly, Los Angeles may not be the best place to invest in the current market. There are other parts of the country that can possibly offer a better, much faster return on investment. But how can someone in Southern California find, buy, repair, market and manage a property that is 2,000 miles away?
The best answer to the cash flow, repair/maintenance and property management questions may be turn-key tenant-in-pace investment income properties that have already been picked out by an experienced professional who has purchased hundreds of profitable bargain properties, already rehabilitated the properties, already hired proven reliable property managers, and has even already moved qualified renters into the homes. Imagine that — just about everything has already been done! Now a regular person can simply buy a bargain property and start receiving monthly rental checks from the management company. If you think that sounds efficient, you are not the only one. Justin W. just closed on his income property a few days ago. More are available. Check these out:
To get a free report on these low-cost, positive cash flow turn-key properties, get a free report. Fill out the online form:
How well do these properties perform for the owners? How does it all work? Happy investment home owners can say it best. Here’s Justin’s story:
Corey did an awesome job, not only helping me end up with my first investment property, but also in helping me understand real estate investment in general.
We started by looking at lofts in Los Angeles and I wasn’t quite sure yet how I wanted to invest, but Corey was very patient with me. We looked at various lofts in Atwater Village, South Pasadena and downtown. At the end of the day, I decided that the prices for me at this time are too high in Los Angeles, so Corey introduced me to his friend, Alan, who helps people get investment properties all over the country that are connected to excellent property management companies, and have a relatively low price to buy and a high demand for rent. After some conversations with Alan and looking at a few spreadsheets he’d prepared about various properties around the country, I decided to take a look at some of them for myself.
On a cold morning in Detroit, I met Alan for breakfast and we headed out the suburbs of Detroit to look at some properties. They were all solid investments, mostly between 50-60k to buy, with rents between 7 to 900 per month, providing instant positive cash flow. We also met a representative from the property management company and he quickly put my mind at ease, running through their process for things like repairs, autopay, and filling vacancies. He said the only time they generally have trouble with tenants is when th owner gets too involved. All the tenants seemed happy and heard working, mostly young families. Wanting to be as hands off in that department as possible (due to distance and work schedule), I was happy to hear that they are proactive I that department. They also stay on top of repairs. Alan advised me to just go ahead and approve repairs right away. There’s no sense in trying to skimp or haggle with that sort of stuff. In the long run its better to be proactive with repairs, keep the property looking good and up to date, and the tenants happy.
After I returned home, I considered my options and settled on a nice, sturdy three bedroom on a quiet suburban street in Roseville, MI.
Alan was able to help me find a lender and facilitate the sale. In the time the property was in escrow, the place was rented to a family who I’m told love the place and have a newborn baby for more than I had been anticipating in my calculations. The property is already more profitable than I thought.
I couldn’t be happier with how the whole experience has gone.
Ultimately, this is the moral of the story. I told Corey what I wanted to achieve in terms of an investment (I wanted a low risk, low maintanence, positive cash flow investment in my budget), and he pointed me in the right direction and helped that dream become a reality. I was considering any number of terrible, high risk investments before I met Corey, and who knows what I would have done to myself. Alan was also instrumental in my education as well, having been in the real estate world for many years learning through trial and error. My hat is off to the both of you and I couldn’t be more greatful.
It’s been exciting to help million dollar buyers and sellers in Downtown Los Angeles. Today, I’m even more excited to help people turn small investments into immediate positive cash flow with infinite returns.
Hi I’m Corey Chambers. You know me as the Downtown Los Angeles real estate professional, publisher of the LA Loft Blog and the SoCal Home Blog. Overall, nothing beats the Southern California lifestyle, and that is why Southern California real estate has been a great investment for many decades. My most recent client is very happy with their purchase of an amazing penthouse level loft with lots of windows and light in the most creative neighborhood in the world, the Arts District of Downtown Los Angeles. Congratulations to them!! But, the fact is that most potential real estate investors do not have $700,000 to $900,000 cash to buy an Arts District loft.
Today, we are helping clients build property wealth one property at a time. We’re are a real estate investment network that provides training, consulting and support. We help our clients by identifying properties where we’re buying real estate right. We’re maximizing cash flow. We’re leveraging where possible and using rental income to pay the debt down. The ultimate goal is free and clear ownership of income-producing properties. We have rental homes that are fixed up, professionally managed and rented out for $800 a month — priced at about $40,000. We have multi-family properties with astounding cash flow but most important in this whole process is that when you’re ready to invest, you contact us for a free no-obligation consultation where we can customize an investment plan that is a specific fit to your goals. Get a free report by calling our 24-hour recorded hotline 1-800-791-4541 ID#8087 or online at www.CoreyChambers.us
DISCLAIMER: This is not intended to be an offer to sell nor a solicitation of offers to buy real estate in states where registration is required prior to any offer being made or in any other jurisdiction where prohibited by law. The L.A. Loft Blog is referring potential buyers only and does not represent buyers or sellers in any capacity on out-of-state real property transactions. Real estate ownership involves risks which buyer assumes. It is your duty to do your own due diligence. Read all documents and agreements before signing anything. It is your duty to consult with your own legal financial and tax advisers regarding any real property transaction. Out of state property transactions are not represented by a California real estate broker and the L.A. Loft Blog does not create market sell or refer anyone to securities offerings.
Between Elysian Park and the Los Angeles River, there’s always something fun and creative going on. Many of the locals are actively involved in bringing the river back to life with fundraisers and events. Dozens of art exhibits, film screenings, music, performances and food venues make the annual Frog Town Art Walk a very special event for the entire family. SEE PHOTO ALBUM at https://goo.gl/photos/t7DgAc3Pdc3c2cQw5
Check out the video of the sights and sounds of the 10th Frogtown Artwalk Saturday, August 13 from 4-10pm
With plentiful cuisine and music, the hopping’ party event brings great revelry from Fletcher St to Eads (1.3 miles along the LA River). The Artwalk has more than 30 venues showing art. There are 3 official Artwalk stages with music: Marsh Park 2, Frogspot, and the Elysian Valley Community Garden at Rich Street. Six illuminated art installations light the LA River Path. Free full color printed program for the Artwalk with information on all the venues, artists, music and events. Frogtown Artwalk official information can be found at FrogtownArts.com.
NEW HOMES!! This year, Frogtown Artwalk guests have a chance to see the 56 stylish brand new homes facing the water, and to be among the first to tour the new condominium units, and possibly to live by the river and witness its revitalization first hand — call Corey (213) 880-9910 BEFORE arriving or get on the new homes interest list. Fill out the online form:
So much fun is happening around Downtown Los Angeles! Tonight is the way happy Frog Town Art Walk along the Los Angeles River by Downtown L.A. area Elysian Valley from 4 PM to 10 PM.
Good vibes and chillin’ with the illest artists. Totally cool, dope and gonna love it. This year is special because the new homes are opening facing the water and festival-goers can also see the new homes. Call Corey first before going to see the new homes (213) 880-9910. #frogtown #newhomes
There is only one affordable industrial style small loft in the Arts District for lease. Beacon Loft with free gated parking space. Check it out: Making history at Bunker Hill Downtown – See the recording of the history-making LIVE webcast of the Bunker Hill Loft open house last Sunday. Garnered more than 1,ooo LIVE viewers, possible the biggest open house ever in Downtown L.A., this new kind of TV show called Downtown Scope is a great example of how to use technology to its fullest, it is a piece of cake to attract a large audience by showing the amazing Bunker Hill Loft, which is easily the best condo in DTLA.
If you would rather get a great deal on a rental and get panoramic views, free utilities and free parking, then this Bunker Hill Condo For Lease is it:
Anyone can now easily get the best deal on a loft for lease in Downtown LA. Use the FOR LEASE link and use the new online application – you no longer need to pay $30 up front so it is free to apply and negotiate the best deal early.
Congratulations to Vanessa, Jane and Ralph on getting the coolest top-floor totally real historic industrial loft in the Arts District. It’s tight! When the largest hip, chic shopping center called At Mateo opens next year, they are gonna be STYLIN for real!!! See what else sold recently in Downtown Los Angeles at https://laloftblog.com/sold/.
Renters have lots of choices in Downtown these days, but home buyers find the choices are very limited and expensive because no historic loft conversions have been created in Downtown L.A. since 2013. So next week, we’re gonna analyze the top reasons why real estate developers are not building or I should say converting any more new lofts in historic or industrial buildings in DTLA. Could it be all about the MONEY? In the mean time, find all of the lofts and condos that are available FOR SALE.
Here’s another fun upcoming event to help revitalize the Los Angeles River — As it is the 6th annual event, they’ve organized an exceptional night to celebrate the L.A. River as the next great civic destination for all of Los Angeles. Don’t miss out!
The evening will feature an assortment of appetizers from Chef Neal Fraser of Red Bird, whimsical performances by Lucent Dossier, an open bar sponsored by Diageo, Veev and Golden Road Brewing AND riverly installations provided by artists Billy Kheel, Fused Metals, HyunJun Chappell and Yeah Rentals. It is the L.A. River Revitalization Corporation’s 6th Annual Urban Garden Party, and this year it’s at Los Angeles historic state park:
Urban Garden Party 2016
Sep 25, 2016 5:30 PM – 8:30 PM PDT
The Viaduct at Los Angeles State Historic Park
1799 Baker Street, Los Angeles, CA 90012, United States