The Grove Style Shopping AT MATEO Downtown Los Angeles Arts District

AT MATEO – 551 Mateo Street, Los Angeles, CA 90013

DTLA is growing at a head-spinning pace, and the Arts District is the epicenter of much of that new construction. A new, mini “The Grove” style commercial shopping and dining center development is well under way across the street from Molino Lofts and Barker Block Lofts Warehouse 1.

Arts District  |  For Sale  |  For Lease

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From the vineyards and citrus groves of the 19th century emerges:
AT MATEO.

The developer has announced The Arts Districts’ preeminent destination for shopping, dining and gathering. What is looking like it till be kind of a “The Grove Jr” will bring a substantial shopping, dining and entertainment center.

Under construction in the east edge of Downtown L.A., near the Los Angeles River and three major arterial freeways, the Los Angeles Arts District has evolved into one of the country’s most talked about, imaginative, authentic and upscale urban neighborhoods. This small area of historical brick, concrete and wood beamed industrial warehouses and manufacturing plants is enhanced by the colorful character of local artist murals and converted historic industrial buildings.

Upon completion, AT MATEO promises to become the social epicenter of the Arts District, providing locals and visitors with artisan eateries and drinking establishments, fashion-forward retailers and local services that complement the avant garde and sophisticated culture of this exciting neighborhood.

The developer is credited with utilizing existing portions of the existing historic architecture in creating the authentic look for the new center.

Arts District  |  For Sale  |  For Lease

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Top 5 Downtown Los Angeles Condos and Lofts For Sale

The L.A. Loft Blog presents the FAB 5 Top Props – These are the five properties most likely to sell next due to their location, attractiveness, size, view, price and overall value.

higgins-509

108 W 2ND ST #509 LOS ANGELES CA 90012
1 Beds  Baths 1.00
(1F 0T 0H 0Q)  750/AS Sqft
LP: $450,000

 

bartlett-814215 W 7TH ST #811
LOS ANGELES CA 90014
0 Beds  Baths 1.00
(1F 0T 0H 0Q)  701/ES Sqft
LP: $469,000

 

 

vero-614-2

1234 Wilshire BLVD #614
LOS ANGELES CA 90017
1 Beds  Baths 1.00
(1F 0T 0H 0Q) 680 Sqft
LP: $469,999

 

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645 W 9TH ST #309
LOS ANGELES CA 90015
1 Beds  Baths 1.00
(1F 0T 0H 0Q)
660/VN Sqft
LP: $499,000

 

luma-12131100 S HOPE ST #1213
LOS ANGELES CA 90015
1 Beds  Baths 1.00
(1F 0T 0H 0Q) 700/AS Sqft
LP: $560,000

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Corey Chambers, Realty Source Inc, BRE #01889449

New Live/Work Ordinance Adopted by L.A. City Council

Construction of Lofts Los Angeles
Historic and Industrial Live/Work Lofts

On February 10, 2016, the Los Angeles City Council adopted the “HI” Hybrid Industrial Live/Work Zone Ordinance. The new rule creates a new zone classification in the City of Los Angeles called the Hybrid Industrial (HI) Zone, along with accompanying land use and development standards. The new law comes online March 30, 2016. The main purpose of this new zone classification is to allow the development of residential live-work units, hotels and other specified commercial uses on property within an existing industrial zone and designated as Hybrid Industrial in the General Plan.

The newly approved HI Zone is the first industrial zone of its kind in Los Angeles. In addition to adding an assortment of residential and commercial uses on industrial land, projects sited on land zoned as HI must provide public benefits and other development requirements, such as below-ground parking. The new rules provide development incentives in exchange for affordable housing, additional non-residential floor area, public art and public open space.

The new ordinance is not likely to create a huge impact because it requires builders to construct very expensive underground parking below historic buildings, partially defeating the purpose of re-purposing.

Get live-work lofts listings free in your email. Fill out my online form.

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Historic and Industrial Lofts
Historic and Industrial Live-Work Lofts

Olympic Tower Los Angeles

OlympicTowerLA.com  811 W Olympic Blvd, Los Angeles, CA 90015

olympi-tower-ground

A new mixed-use hotel, retail and residential building development is under way in Downtown Los Angeles on Olympic.  Across the street from The Ritz-Carlton, the new building will replace what is currently Downtown’s most convenient car wash.  The cars of DTLA will get a little dirtier as there are no other quick drive-through car washes in the booming neighborhood.

With some unusual features including a weird pinch in the middle, Curbed LA calls the new building design “bonkers”.

At the end of 2015, plans were unveiled for a redevelopment of the Downtown Car Wash in South Park, Olympic Tower 60-story tower with LED signs and live plants interwoven into its exterior, along with a rooftop garden.  374 residential units, 33,500 square feet of office space, a 10,800-square-foot conference center, and more than 65,000 square feet of restaurant and retail space will join a 373-room hotel.

Architecture firm Nardi Associates says that the building will feature a structural grid with live plantings, like a gigantic “urban tree”.  An open-air atrium will be encased by a metal structure with a sloping roofline, so the highrise will have a sharp roof instead of a helipad.

In 1980,  the car wash developer paid only $525,000 for the parcel. By 2005, the land was valued at $2.4 million. In 2014, developer Ben Neman bought the parcel for $25 million.

The building’s height means that it would block views of the Hotel Figueroa. There is no word on whether the residential portion will be rental or condo, but rental is more likely based on what most other developers have been choosing.

Be among the first to find out if the new highrise will contain rental apartments or condominiums for sale. Get Olympic Tower updates in your email. Fill out the online form:

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Copyright © 2016 This free information provided courtesy L.A. Loft Blog and LAcondoInfo.com with information provided by Corey Chambers, Realty Source Inc, BRE#01889449 Not associated with the home owner’s association, seller or developer. For more information, contact (213) 880-9910 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.

Upscale Homes Downtown Los Angeles Highrise Condos and Luxury Lofts

The average selling price in Downtown Los Angeles has recently topped $645,000. For that investment, a buyer can get about 909 sq ft on the 9th floor at the historic Rowan Lofts Building or around 1,010 sq ft on the 6th floor at the newer Luma Lofts Building.

800-w-1st-st-2308-011_web

Request a free hotlist of upscale lofts and condos in Downtown Los Angeles at www.UpscaleHomesLA.com, visit http://www.lacondoinfo.com/gc_upscale or fill out the online form:

Movin on Up in Downtown! Check out the Goldblum Superbowl ad shot in Downtown:

superbowl-goldblum-commerical-downtown

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ten50la

Copyright © 2016 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) 880-9910 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.

When is the Right Time to Sell a Downtown Loft?

How to Sell Your Own LoftWhile more people are moving into Downtown than moving away, there are those who prefer to sell when they are sure that the price and equity are at a healthy level. Many loft owners in DTLA are able to move up to a larger loft, while some others are having kids and want to move to a highly esteemed school district area in the suburbs.

The L.A. Loft Blog, the authority on Downtown residential real estate, receives real-time market data and feedback every day.  Based on that large quantity of first-hand observations and real estate market service data, the true nature of the Downtown real estate market is normal and near middle of the cycle.  That means that it makes sense for both buyers and sellers to make a move now if they prefer to move during a safer, more typical real estate market cycle. That being said about market timing, Downtown Los Angeles is anything but a typical real estate market.  During the most recent cycles, Downtown performed better than the average U.S. neighborhood and better than the average California neighborhood during both the up cycle and down cycle because DTLA has extremely fast growth overall.

Here some recent articles that discuss whether or not now is a good time to sell a home:

When is the Right Time to Sell Your Home?
http://www.csmonitor.com/Business/Saving-Money/2016/0223/When-is-the-right-time-to-sell-your-house

Now I Get It: When to Sell Your Home
http://finance.yahoo.com/news/now-i-get-it–when-to-sell-your-home-225837862.html

The Best Times to Sell Your House
https://www.nerdwallet.com/blog/mortgages/the-best-times-to-sell-your-house/

Sales of Existing U.S. Homes Rise Rise to 2nd-Highest Pace Since 2007
http://www.newsmax.com/Finance/Economy/homes-sales-housing-economy/2016/02/24/id/715832/

ad-cp-homesellers-800-rsi-j

Find out what sold recently. Get a free list of nearby homes to learn what most recent selling prices have been. Fill out my online form:

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two-bedroom-2-bath-douglas-loft
Douglas Loft

Mills Act – Chic, Stylish, Authentic, Historic Loft Bargains

It remains the quickest, easiest way to find more character while paying much less property tax.  While Downtown Los Angeles has the largest collection of Mills Act properties in Los Angeles, areas such as Pasadena, Hollywood and other Los Angeles neighborhoods also have some beautiful historic Mills Act condos for sale.

Downtown Historic Loft Building
Historic Loft Building

Mills Act Condos and Lofts – Get the PDF list of today’s Mills Act historic buildings with homes for sale. CLICK HERE.  >> MORE

Get more information on Mills Act historic properties. Fill out the online form:

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dtla-historic-street-gay-guys

Corey Chambers, Realty Source Inc, BRE#01889449

Condos Downtown Los Angeles Inspections and Disclosures

Loft Inspection Traps and Pitfalls – Agent Visual Inspections and Seller Disclosures
laloftinspect-mk

ad-cp-inspection-ho-csiIn addition to arranging the buyer’s optional inspection by a professional inspector, the seller and agents each have legal obligations to perform an individual inspection of the property.

When buying or selling a home anywhere in California, sellers and real estate agents are required by law to take a look around and to disclose to the buyer all known material facts and observations that may affect the value or desirability of the home. These days, that is often done by the seller using the Transfer Disclosure Statement, and also done by the agents on the Agent Visual Inspection Disclosure.

Some sellers have occasionally been known to purposely try to hire an out-of-town agent when the seller knows that the building or unit has some kind of problem that the seller would really rather not disclose.  This strategy is not likely to work for the seller because most agents will take the time to familiarize themselves with all of the issues of the property so that they will be prepared to handle any objections or questions by prospective buyers. The agent is required to write down all of the issues that they see or know about.

One current example is the Notice of Claim and possible future litigation at Alta Lofts.  This is in the gray area because no lawsuit has been filed but the sellers know that a lawsuit may be pending that could potentially affect the value and desirability of the loft condo units.  Most sellers and agents will find that information to be material, and thus they are likely to disclose it to the buyer in writing.

The items in an agent’s visual inspection are unlikely to raise a red flag. The AVID form is a disclosure, and is not created by a licensed inspection professional. Nevertheless, some sellers want to at least be sure that their agent does not list items that could be immaterial from the California Association of Realtors(R) AVID Agent Visual Inspection Disclosure form. The seller can let the agent know specifically if the seller believes that any items are not appropriate or material.

For a smooth transaction, buyers and sellers should generally sign most disclosure forms because a disclosure is simply sharing information. When a seller does not sign a common form, it has a substantial likelihood of raising a red flag for the buyer’s agent and the buyer. Failing to complete a common disclosure has a chance of jeopardizing the transaction, and may increase the liability of the seller. It is recommended that sellers consult with an attorney if they have legal questions about the AVID form and California disclosure law.

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L.A. Loft Blog, Corey Chambers, Realty Source Inc  BRE#01889449

Leads-Provided REAL ESTATE CAREER Downtown Luxury Loft Lease

team-corey-chambers

Leads-Provided REAL ESTATE CAREER Downtown Luxury Loft Lease

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loft-downtown-la-rowan-290-194Earn $80,000 and Up – For (only) 2 lucky Los Angeles licensed agents with experience and success, it is possible: an inside sales position, following up on and nurturing qualified Downtown luxury lease leads (NO cold calls). Join a team of 4 other inside sales agents supporting one of the top agents in Southern California, get new Downtown loft and condo luxury lease leads 5 days a week.

Never worry about having enough real estate prospects. Get paid in weeks, not months!

Exceptional opportunity to earn $50,000.00 to $60,000.00 first year, as much as double that 2nd year. Must be able to check ego at the door and effectively represent the agent and team in exchange for a systematic real estate career with an overflow of leads.

Santa Fe Lofts Downtown LA
Santa Fe Lofts Downtown LA

This is NOT for the brand new, rank amateur agent seeking a shortcut to proficiency nor is it for the failed agent unable to make a living, Instead, the agents who love this change and do well in this position have been successful, are knowledgeable, have good client management, communication and organization skills, and could continue earning a good living in “regular” real estate if they had to, but prefer to receive plenty of provided leads, the freedom from endless cold prospecting, expensive advertising, intense competition and uncertain, unpredictable feast-famine roller coaster income.

If you have a quality track record, the necessary skills and are ready to work with a proven system, we have a great place on our unique team for you. To begin the process, simply call toll free to 1-800-791-4538 ID#9075. Your inquiry will be held in the strictest confidence. Your present broker/employer will not be contacted. (Note: the last time we advertised an opening, we were flooded with applicants and immediately filled the position. Do NOT procrastinate.) Is it really possible?

Call toll free to 1-800-791-4538 ID#9075

Compensation: commission-only.
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 For more information, visit CoreyChambers.com. Licensed in California.

Employment Type: Contractor

Compensation: commission

About L.A. Loft Blog:

The L.A. Loft Blog is the authority on Downtown residential real estate.

blankspaces-downtown

Open House Downtown Los Angeles Lofts and Condos For Sale

Visiting an open house is perhaps the easiest and best way to get to know what is really happening in the Downtown L.A. real estate market today.  Below is a list of DTLA open house properties for sale.

Alta Lofts Building
Alta Lofts Building Open House

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 condo-open-house
Copyright © 2016 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) 880-9910 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.