Is Downtown Los Angeles now a luxury real estate market? #affordable #dtla
Lofts under $400,000 are drying up today just like lofts under $300,000 evaporated a couple years ago. For renters, the story is similar; DTLA lofts that rented for $2,000 per month a few years ago are going for $2,500 today. A few years ago, $8,000 per month was very pricey for rent in Downtown L.A. yet today, renters are paying upwards of $100,000 per month for rent Downtown.
Not too long ago, artists took refuge in Downtown’s decaying buildings for their large size, open space and affordability. Downtown is still a great bastion of art, but, today, the starving artists are being replaced by commercially successful artists. The struggling painter is forced to move to Lancaster or Bellflower, while the award-winning film maker moves from Beverly Hills to enjoy the new, hip shops and restaurants the Historic Core and Arts District. Regardless of how affordable or expensive the Downtown LA loft, condo and apartment market, there are always some kind of bargains to be found. It is our job to help find them. Get affordable lofts for sale and for lease. Fill out my 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 We are not associated with the homeowner’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.