Month: February 2015

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JUST PURCHASED – 315 E 8th St, #605 Textile Building Lofts $385,000

SOLD PROPERTIES DOWNTOWN LOS ANGELES

STATUS: Sold ADDRESS: 315 E 8TH ST #605, LOS ANGELES ,CA 90014 SP: $385,000

textile-605-e

RESIDENTIAL CONDO / COOP AREA: (42) Downtown L.A. MAP: 634/F5 MLS#: 15-
STYLE: Architectural SUB: PUD: No YB: 1925 BA: 1.00 (1 0 0 0)
APN: 5145-003-051 HOA: HOD: $467.00 STORIES: 0 APX SF: 670/VN
UNIT LOC: N/A VIEW: Yes POOL: Yes #UNITS: 69 EQ INS:
EXP: N/A PETS: Yes FP: FLR#: 6 PKGT:
DIRECTIONS: North of 9th Street, East of Los Angeles Street, West of Maple Street, South of 7th Street. Google Maps
REMARKS: Rare East-Facing Loft in the Textile Building in Santee Village, with Views of the Fashion District and Beyond. High Ceilings, Open Floor Plan, and the Original Industrial Casing Windows. Newly Refinished Concrete Floors, New Stainless Fridge and Gas Range, Freshly Painted, New Blackout Shades. Spacious Bathroom with Washer/Dryer and Over sized Tub. Historic Building (1925) with Reduced Property Taxes through the Mills Act. Low HOAs ($468/mo) with tons of Amenities, including Dedicated Parking Space under Santee Court and Dedicated Storage Unit In Textile Bldg Basement. Listed in the National Register of Historic Places, the Textile Building is a 12-story, 69-unit Gothic Revival Landmark overlooking the Fashion District. As part of the Urban Community of Santee Village, Amenities include Rooftop Pool, Spa, Fitness Center, and Gourmet Market. Blocks to the best Restaurants, Nightlife, and Shopping in Downtown; Short Walk to the Metro, LA Live, and the future Whole Foods. Click here to anonymously report a potential violation. Click here to community information: schools etc. Click here to see the Walk Score
ROOMS: Loft
AMENITIES: Assoc Barbecue,Assoc Maintains Landscape,Assoc Pet Rules,Basketball Court,Controlled Access,Dock,Elevator,Extra Storage,Fire Pit,Fitness Center,Pool
EQUIP: Cable,Dryer,Garbage Disposal,Range/Oven,Refrigerator,Washer
AIR: Air Conditioning HEAT: Central
FLOOR: Cement,Tile LAUNDRY: In Unit
POOL: Association Pool,Community LAND TYPE:
PARK: Assigned TYPE: Condominium,Conversion,High Rise,Loft
VIEW TYPE: City Lights
OCC/SHOW: Appointment w/List. Office,Call LA 1 SALE TYPE: Standard
LP: $399,000 DOM: 45 LD: 01/06/2015 SP: $385,000 SSP: BLOG Y/N: Yes LP/SF: $595.52
OLP: $399,000 CDOM: CD: 01/28/2015 SD: 02/20/2015 WD: AVM Y/N: Yes SP/SF: $574.63

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Copyright © 2015 This free information provided courtesy L.A. Loft Blog and LAcondoInfo.com with information provided by Corey Chambers, Realty Source Inc, BRE#01889449 We are not necessarily associated with the home owner’s association, seller or developer. For more information, contact (213) 478-0499 or visit LAcondoInfo.com  Licensed in California. All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties subject to prior sale or rental. This is not a solicitation if buyer or seller is already under contract with another broker.

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Downtown Los Angeles Rent Control – Is There or Isn’t There?

L.A. Loft Blog Reader Questions

I’m an avid reader of your LA Loft Blog and I have a question regarding rent control in downtown Los Angeles.

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Rowan Lofts in the Historic Core

Do downtown lofts (specifically the Rowan and Eastern Columbia) fall under rent control? I have read the rent control ordinance papers by the city of Los Angeles and it seems that they are subject to rent control, however I went to an open house today at the rowan and the agent specifically stated that the Rowan and other downtown “loft conversions” are not subject to rent control as they are “single units” and not multi units. Is this true? The last thing that I want is to purchase a unit in the Rowan only to find out that I will have to pay hefty relocation fees to my future tenants if I decide to move back into the unit after lease expiration.

Thanks and keep up the good work at LA Loft Blog!

– Colin Stevens

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Hi Colin.

Thanks for your question about rent control.  Both sources may be correct.  We have not seen any limitations on rents in Downtown.  While all rentals in Los Angeles fall under rent control laws, there are varying criteria, exceptions and loopholes.  The high price range and building construction dates of Downtown lofts are two factors that may allow for higher rents and rent increases.  Ask the City of Los Angeles, and consult with a real estate attorney for specifics of rent control laws.

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More resources about Los Angeles rent control for renters and landlords:

http://www.caltenantlaw.com/LARSO.htm
http://lahd.lacity.org/lahdinternet/
http://www.latimes.com/la-op-dustup11apr11-story.html#page=1

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Posted on February 24, 2015by 

LOFT & CONDO LISTINGS DOWNTOWN L.A.  [MAP]

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Copyright © 2015 This free information provided courtesy Corey Chambers, Realtor, Realty Source Inc BRE#01889449 We are not necessarily associated with the owner or management. For more information, contact (213) 478-0499 or visit LAloftLease.com.  Licensed in California. All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties subject to prior sale or rental. This is not a solicitation if buyer, seller or renter is already under contract with another broker.