Downtown Los Angeles Loft For Sale with Outdoor Space and Mills Act Tax Savings – OPEN HOUSE every day at 738 S Los Angeles St., #302, Los Angeles, CA 90014 (213) 880-9910 #dtla #balcony
Historic industrial live/work loft 810 sq ft with private balcony, open space with high ceilings and hip, urban chic character. Separated bed area. Extra ceiling lighting. Modern bathroom and kitchen with Caesarstone quartz counters and stainless steel appliances. Concrete floors. Covered parking in Maple Street parking structure with evening free shuttle. Eckardt Building residents enjoy all of the Santee Village amenities, including swimming pool, hot tub spa, rooftop sun deck, fitness center gym, half basketball court, golf driving range, food court, wine market. 24-hour security patrol. In the heart of the Historic Core walkable to countless Fashion District shops, restaurants, coffee, bars, pubs, entertainment and transportation. Mills Act Property Tax Benefits. Call Corey (213) 880-9910. | DETAILS
Your Home Sold GUARANTEED or I’ll Buy It*
No Gimmicks! For information on my exclusive Guaranteed Sale Program, order a Free Report by visiting www.GuaranteedSaleSoCal.com
4 Big Reasons to Call the Chambers Team to Sell Your Home:
#1 We’ll Get You More Money – Chambers Team gets you 2.2% more of the asking price
#2 We’ll Sell Your Home Faster – Chambers Team sells homes 44% faster
#3 More Likely to Sell – Chambers Team homes are 16% more likely to sell
#4 We’ve got more than 4,700 buyers in our Data Base looking for a home
To find out how much you can sell your home for and how long it will take, call Corey at (213) 880-9910
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Historic Lofts in Downtown Los Angeles come with some serious benefits. #historic #dtla
The brick and concrete lofts in historic and industrial buildings in the Arts District, Historic Core, Fashion District, Little Tokyo and Old Bank offer a tremendous amount of character for the price. In addition to lots of coolness per dollar, many historic lofts pay back in the form of Mills Act tax benefits. Owners report tax savings up to 66%, which can be thousands of dollars per year off property taxes.
The best way to get started seeing the historic lofts is by stopping in to some open house opportunities. Drop by and take a look at the open spaces, high ceilings, large windows, natural light and views of Downtown L.A.
Get a free list or Historic Lofts with Mills Act benefits. Fill out the online form:
Airbnb experiences bring the most profit for investors and landlords. #airbnb #losangeles
The LA Loft Blog provides an up-to-date breakdown of the best ways to make a profit with short term rentals on Airbnb. This post includes 3 real case studies of Airbnb rentals in the Greater Los Angeles Area including Downtown, Beach Cities and Big Bear, starting with the most profitable and ending with the biggest loser. Airbnb is generally used to find guests to stay in rooms or entire homes for several days to several weeks, or sometimes just one day, usually less than 6 months. The most profitable homes on Airbnb tend to be the short-term rentals that offer the most “experience,” that is a special feeling of fun, excitement or enjoyment from unique attributes such as decor, architecture, furnishings, location and amenities of the short-term rental. Those near tourist areas, theme parks, beaches, snow skiing, lakes, rivers and entertainment venues have the most profit potential.
Popular attractive furnishings, dishes, appliances, games with professional cleaning and maintenance are key to happy guests and maximum price. Investors should check to make sure local hotel prices are rising and not dropping.
Before listing a home on Airbnb, landlords and investors must be aware of the local ordinances and homeowners association rules that govern what homeowners may and may not do with short-term rentals. Most cities and municipalities have laws regarding hotels and hotel taxes. At a minimum, investors and other homeowners with homes listed in Airbnb must collect and pay hotel taxes to the city in which the short-term rental is located. Some localities may not allow short-term rentals under 6 months at all. Most condominiums are not suitable for short-term rentals because the CC&R rules normally specify that condo unit owners may not do short-term rentals at all, and all lease must be for at least 6-months. Additionally, each resident must in most cases coordinate their move-in with the HOA homeowners association manager and pay a move-in fee.
To make a tidy profit, the investor must have or hire someone with skills and experience in local real estate, interior design, hotel management and marketing. The property must be obtained for a cost that will be substantially lower expense than the income that the rental will attract. It must be near public transportation if in the city or provide convenient parking if not.
The “bnb” in Airbnb stands for bed and breakfast, which means that the owner is there helping, conversing and sometimes even cooking for the guests. In many cities, the owner must be staying in the residence with the guests or else the short-term rental is illegal and may face big fines. Owners should have sufficient insurance and take steps to prevent disasters such as wild parties.
Some renters try to sub-rent their leased loft to Airbnb, but this is usually not allowed under most lease agreements. They usually specify that the unit can not be sub-leased or sub-rented at all without the property owner’s permission. Because of these rules, it is hard to find Downtown lofts on Airbnb. When one is found, there is a good chance that the person who listed it is breaking a HOA rule or violating a lease agreement. That being said, there are some buildings, HOAs and owners who are more or less likely to enforce these rules. The LA Loft blog often receives word on which buildings are enforcing and which buildings are Airbnb havens.
Here are the three recent real-life Airbnb scenarios, and what made them make or lose money, in order of profitability:
Teddy Bear’s Cabin in Big Bear – This super profitable modern luxury log home garners $500 to $1,000 per night. It is a nice, big cabin with modern kitchen and bath, romantic fireplace in the master bedroom, lots of games and videos, and walkable to the lake. Up to $15,000 per month makes this a super-profitable Airbnb rental.
My Little Paris in Los Angeles – This brick loft is booked up for the next 6 weeks at $135 per night. That is over $4,000 per month for a loft that normally rents long term for around $2,400 per month. That brings a tidy profit for the owner who is lucky enough to get away with it.
Rancho Palos Verdes house – A traditional large home just a few blocks from the beach was purchased for the purpose of offering short-term rentals on Airbnb, but the RPV community cracked down big time and outlawed short term rentals in residential homes. The investor is struggling to pay their $10,000 per month mortgage, and bleeding cash.
Get a list of the best Los Angeles homes for short-term rentals on Airbnb. Fill out the online form:
The great outdoors can be difficult to reach when one is cooped up in a condo with no yard. A private outdoor space such as a balcony, patio or terrace can make a world of difference. #dtla #balcony
Nearly everyone can get cabin fever, irritability and listlessness from confinement, when they are stuck inside for too long. Many Downtowners are not willing to sacrifice a spot where they can easily step right outside their own door to get some fresh air and sunshine. Many have pets that don’t want to be shut inside all of the time also. A private balcony or terrace solves this problem. While every resident in DTLA has a walkable neighborhood to stroll, fetch coffee, food and entertainment, about 15% of Downtown condo units have a private outdoor space where the resident can sit and enjoy a piece of their own outdoor turf.
Here is a list of Downtown area lofts and condos for sale with private outdoor space such as balcony or terrace:
738 S Los Angeles St #302 Historic Core 810 sq ft $475,000 DETAILS
1111 S GRAND AVE #418 South Park 800 sq ft $599,000
645 W 9TH ST #732 Financial District 780 sq ft $599,000
420 S San Pedro St Little Tokyo #101 1,128 sq ft $599,000
108 W 2ND ST #212 Old Bank 1,040 $600,000
527 Molino ST #124 Arts District 680 sq ft $649,000 Get a free list of Downtown lofts and condos wth private outdoors space
The L.A. Loft Blog has received word of new 3-story townhomes boasting private rooftop terraces with views of Downtown L.A. and Elysian Park. Get a free list of new homes. Fill out the online form:
When considering the purchase of a Downtown Los Angeles condominium unit, buyers have much to be concerned about.
DTLA is the most exciting place on Earth because of it’s head-spinning rapid transition from blight to luxury. That kind of blitzkrieg renaissance brings with it growing pains and other pitfalls such as lawsuits and loft-lending issues. Some properties increase in value faster than others, and some have more future potential than others. Here’s a list of this week’s Downtown Top Ten investment picks based on ROI, popularity, location, cap rate, best deals and future growth potential. #top10 #dtla
738 S Los Angeles #302 – Industrial style loft with large balcony – IN ESCROW
312 W 5th St #307 – The lowest HOA dues in Downtown on this unlisted loft for sale
200 N San Fernando Rd #301 – Bigger and nicer loft for a lower price
420 S San Pedro St #516 – Friend and family love the amenities and guest parking
1130 S FLOWER ST #306 – Nice, big loft in Ritzy South Park for a great price
315 E 8TH ST #606 – Historic loft with convenient underground parking
330 W 11th ST #703 – 2 bedroom and 2 bath with lots of square footage South Park
108 W 2ND ST #212 – Large private patio in a clean attractive neighborhood
1111 S GRAND AVE #1008 – Modern soft loft with bright natural light and amenities
600 W 9TH ST #409 – 2 bath, 2 real bedrooms w/ doors that close. Balconies.
Get a complete Top 10 list with photos, descriptions and prices. Fill out the online form:
Real Estate News (Downtown Los Angeles) April 24, 2017 — Here are two recent stories of how two innocent persons, both eager to move to Downtown L.A., lost their money and their identities when trying to move to Downtown L.A. One was a renter, and the other a prospective home buyer. #dtla #fraud
The first was a young lady named Diane who was looking for a good deal on Craigslist. Upon finding what she thought was the perfect deal, a 1,200 sq ft 2 bedroom 2 bathroom sky loft with amazing panoramic views, modern gourmet kitchen and large bathrooms and closets with many upscale designer touches — all for only $980 per month. She had to
have it quick before someone else took it. She filled out the online application. Diane never heard back from the property owner, except by an unlisted text phone number responded with text messages encourageing Diane to submit her application along with her personal information such as name, address and social security number. Weeks later, Diane still never heard back, and the text phone number was no longer responding to her messages. A few months later, Diane learned that her credit was bad because there were unauthorized charges and new unauthorized credit cards. Her identity had been stolen. After many hours and months of work, Diane has still not cleared up her bad credit caused by the identity theft.
While renters are the most likely targets of fraudsters, they are the only victims. Home buyers can be attached, often with larger losses. Here’s how a prospective home buyer lost everything just last week:
Peter is a friendly, caring, honest and trusting 50 year old man wth long-term health issues that are under control. He ran into an old friend a couple months ago. The old friend, going be the name Andrew Christian, told Peter that Andrew was was recently diagnosed with terminal brain cancer and needed to spend his millions of dollars of trust funds right away before he passed away and before his antagonistic parents took away his access to the funds. Peter was concerned about Christian’s supposed terminal illness and trusted that Christian really was going through these issues. Peter believed that Christian was telling the truth when Christian offered to help Peter buy a nice home for himself so that Christian could enjoying spending his trust fund money in a way that he found satisfying in his final days on this planet. This trust was tragically misplaced.
At first, Peter was stunned and delighted when they got into escrow with an amazing $1.4 million dollar luxury high-rise condominium in a vibrant neighborhood of Los Angeles. When Christian began to ask for small amounts of money and use of Peter’s credit card to help prevent Christian’s meddling parents and beaurocratic trust officers from catching word and interfering with their benevolent plans, Peter complied. After all, they were in escrow with a fantastic property that would be in Peter’s name, and Christian said he would also pay for 1 year of HOA dues plus extra money for taxes, insurance and miscellaneous expenses so that Peter would not need to worry about anything financially. On top of that, Christian had already handed Peter a check for $2.6 million dollars, to be used at the end of escrow. While Peter had not driven for years, he received a new car from Christian. Christian had really given Peter a much to be hopeful for. So he thought.
In the mean time, they had found an experienced Downtown real estate professional to help with the purchase of the property. The agent believe that the stories could be true because Peter had known Christian for 30 years and trusted him. After escrow reported that the earnest money deposit was never received, the agent notified Peter and Christian of this problem. Christian always had answers to everything: the trust funds and trust officers had a lot of rules an bureaucracy to deal with. Compounding the problem, the seller was particularly eager to work with the buyer because the comps were only about $1,200,000 yet the accepted offer was substantially higher than that. The listing agent was so excited that he failed to notify the seller that the earnest money deposit was never received by escrow, a major violation of agent fiduciary responsibility. Then, after Christian began to ask the buyer’s agent for assistance in the form of cash and credit card use for Christian’s hotel, the buyer’s agent notified Peter that the behavior of Christian looked very suspicious, and appeared to match that of common fraud schemes — an offer that is too good to be true, combined with a request for cash, credit cards or personal information to make the fantasy deal come true. This fantasy turned into a nightmare. Peter informed his agent that Christian had been engaging in the same suspicious behaviors with Peter, and that Christian and Peter really did not know each other that well. By the time the buyer’s agent and Peter reported Christian’s behavior to the police (the police were reluctant to even take a police report because fraud is so difficult to prove), the helpful buyer’s agent was out more than $1,000, and Peter had given Christian everything he owned — many thousands of dollars — plus racked up thousands more on Peter’s credit cards. On top of that, at least 2 more victims were known to have been taken. Probably many more. Checks and earnest money deposit given by Christian all ended up being fakes. The fantastic gift of a new car turned out instead to be a rental that was placed on Peter’s credit card without Peter’s knowledge. Peter’s gifted new car turned out to be a stolen car on Peter’s own credit card.
These fraud cases are painful yet excellent reminders that, if something seems to good to be true, it probably is. This especially rings true when a deal is offered to a renter or buyer that does not match the local market conditions, and comes with strings attached in the form of cash, credit cards or personal information. Buyer’s agents and listing agents have a duty to inform and warn their clients when earnest money deposits are not made on time, and when other suspicious and problematic issues occur. Buyers and renters must always be suspicious and ask many extra questions with they are not paying a market price for a home. Never give money, credit cards or personal information to anyone who is offering an special deal out of the blue.
Downtown Los Angeles is the most exciting place on earth, and, with homeless, lawsuits, loft lending problems etc, DTLA has more than its shares of dangers and pitfalls. Fortunately, these problems can all be avoided with the right information. Get a free list of 6 mistakes to avoid in Downtown Los Angeles real estate. Fill out the online form:
Los Angeles, the park is finally ready! The long-awaited Grand Opening of Los Angeles State Historic Park includes a day-long celebration of music, performance, family-friendly activities and food trucks. The park is easily accessible by the Chinatown Gold Line Station or by bicycle. Public transportation is highly recommended becuase there is limited parking in the park.
Los Angeles State Historic Park has been closed for the last three years, but after a major renovation, the Chinatown neighborhood park will re-open on Earth Day, April 22 with fun, family-friendly activities and food trucks. Enjoy musical performances by Grammy Award-winning QUETZAL, MILCK (Connie Lim of Washington DC Women’s March), global bass from Subsuelo, Shaolin Monks presentation and more…
Opened in 2006 and also known as Cornfield Park, the enlarged and revamped space now totals now totals 34 acres, with new features that include two acres of wetlands, a Welcome Center, a Blossom Plaza, a large promenade, room for farmers’ markets, a meadow, a paved parking lot and a pedestrian bridge perfect for taking in the views. The neighborhood has proven to be an enjoyable place to live, a great investment, and continues to surpass expectations.
HOMES FOR SALE – Lofts for sale in neighborhoods by State Historic Park
1100 Wilshire Update – The L.A. Loft Blog has received word that the 3 of the 5 litigations at 1100 Wilshire have been settled. But another resident reported asking the HOA for a litigation disclosure last week, and they still had 5 on there. A top Downtown specialist real estate professional has just reported that the Chase Bank litigation is in trial now, so that one will likely be resolved soon. | FOR SALE
Pocket Listings – One going to MLS shortly:
Eckardt Lofts Unit #302 – Last chance to see this unit early before it goes public! Historic industrial live/work loft 810 sq ft with big private balcony. Open space with high ceilings. Hip urban chic character. Separated bed area. Extra ceiling lighting. Modern kitchen and bathroom. Concrete floors. Parking in maple lot with evening shuttle. Building features swimming pool, hot tub spa, rooftop sun deck, fitness center gym, food court, wine market. In the middle of the action walkable to countless shops, restaurants, coffee, bars, pubs, entertainment and and transportation. Call Corey (213) 880-9910 or visit EckardtLoft.com
SB Grand with Balcony – Enjoy Downtown life in a spacious historic open floor plan. Modern open loft with fantastic NYC-like character on Broadway and Historic Core. Private balcony facing original brick courtyard. Modern kitchen open to the living area. Wood floors. Washer and dryer in unit. Large soaking bath tub. Open and airy living space with extra lighting and heating with A/C cooling. Excellent downtown location near Farmers Market, Grand Central market. Minutes to Whole Foods, Ralph’s and great shopping and dining. The building features 24-hr security front desk concierge, fitness room, rooftop pool, hot tub with panoramic views of the Downtown Los Angeles skyline. Wired for cable and Internet. Low HOA dues. Pets okay. Great for Downtown live/work! The complex has valet parking for about $200/mo. By Metro station, Pershing Square concerts in Summer and ice skating Winter. Stroll thrugh the renaissance of Broadway, with coming street car as part of the Bringing Back Broadway project. Cash or pre-approved buyers only please. This pocket listing is not listed on the MLS. Details at www.Shybary.com
Prospective new Downtowners have been asking a lot of questions lately about how high the prices might get, and when they might fall. Unfortunately, history has shown us that, while prices fall a bit quite frequently, they only fall a lot very rarely. Prices almost never fall during the times that many expect them to. Fortunately, there are ways to save money during any market. Here are some of them: #distresssale #dtla
Foreclosures – Not many these days because the real estate market is too hot. Raw Lofts – Save money by putting your own finishig touches on incomplete lofts. Distress Sale – Sellers somestimes get into hot water, and the buyer benefits. Bank Owned – When a seller or developer is hemorrhaging money, the bank takes over. Company Owned – Similar to a bank owned, but a company takes over instead. REO – A common type of foreclosure Auction – When a seller really wants to sell fast, an auction gets it done fast. New Homes – Shiny homes with no problems but sellers are motivated to sell ’em fast. Vacant Homes – Sellers often reduce the price on vacant homes because they need to sell. 100-Year Lease Houses – Seller of new homes can give a lower price when land is cheap. Off-Market Properties – Homes that are expired, on hold, or canceled listings
Train Station Homes
For Sale By Owner
Lawsuits and Litigation
Panic Sellers Arts District Homes – Not the cheapest, but could be the best bargain compared to future. More
Get a free list of distressed homes. Fill out the online form:
The best deals go quickly. That’s why Downtown home buyers who want to get the most for their money are on the lookout for new listings that they can see before the other buyers take them off the market. #new #listings
There is no need to settle when looking for the most amazing loft at the best price. Sometimes the newest listings include some of the most awesome places, like this expansive 2-story rooftop standout penthouse with double height ceilings, private view terrace and Mills Act tax savings.
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