Real Estate News
L.A. Industrial Conversions Coming Up For Sale
New Homes in Downtown L.A. Under Construction
Historic yet spankin’ new and glistening clean stylish urban homes with the latest architecture and most modern conveniences combine with new loft conversions, newly remodeled historic and industrial buildings converted to modern urban live-work residences, all coming to DTLA. #newlofts #dtla #newhomes
New Downtowners and investors love it when old historic and industrial buildings are converted from useless dilapidated structures into repurposed residential live/work lofts with open space, lots of oversized windows and natural light, in the best walking areas near shopping, dining, entertainment and transportation. From 2000 to 2014, more than 20 buildings were converted. But in the last 3 years, there have been only modern construction condos, along with thousands of new apartment rentals not available for purchase. The good news is that this trend is changing.
The most recent loft conversion was Barker Block Warehouse One in the Arts District of Downtown Los Angeles. That was more than 3 years ago.
New Lofts Downtown LA
Where are the new Lofts in Downtown Los Angeles? When Barker Block Warehouse 1 opened in 2014, there was a mad rush on the very first day of sale, with more than 2,700 home seekers for less than 20 available units. The seller had a huge advantage.
New Constructon Lofts Downtown L.A.
While the neighborhood suffered from a glut of unsold properties 6 years ago, Downtown L.A. today is today experiencing a dramatic shortage with just a tiny inventory of affordable homes for sale. The lowest priced cool loft jus sold last month for $348,000 for 500 sq ft at the SB Grand lofts building. For slightly larger medium sized lofts, the cheapest entry level lofts have tripled in price from around $150,000 in 2011 to around $450,000 today. There is currently one loft that is 860 sq ft asking just $412,000 at the SB Grand.
Successful buyers today must take advantage of the most powerful strategies to find bargains around Downtown. Today’s smartest buyers check out the REO bank-owned foreclosures, short sales, distress sales, fixer uppers, raw lofts, as well as the nearby lofty condos and houses with character outside of Downtown LA. For those who want to live in the heart of Downtown, new construction and unlisted properties have most recently provided the best solution. Pocket listings and other unlisted lofts have accounted for more than 30% of the best deals in the past 5 years.
New L.A. Loft Construction
There is hope for buyers who need to see more properties for sale. Home buyers have had found the most amazing lofts and the best prices when they were able to see as many amazing lofts and condos as possible, including those that are not on the internet.
New Lofts Coming to Downtown – Find Out When and Where, and get email notification when new lofts are announced, along with lofts that have been converted to condominium specifications, but not sold yet, like these:
Barker Block Warehouse One – SOLD
Title Guarantee Building
The L.A. Loft Blog has the scoop on the loft rental buildings that are most likely to come onto the market for sale in the near future, including:
Luxury Loft Tower
Historic Furniture Warehouse – SOLD
Luxury Historic Lofts
Historic Core Flats
Luxury Restaurant Row Historic Lofts
Historic Core Loft Tower with Balconies
Shopping and Restaurant Arcade Lofts
Pershing Square Historic Loft Building
Other loft buildings going condo and new construction lofts: Get a free hotlist of new lofts coming up for sale, with loft rental buildings that are rumored to be going condo in the future.
Be among the first to be notified of new lofts coming up for sale. Also receive lists of Downtown distress sales, unlisted lofts, short sales, raw lofts and sold lofts for comparison. Get invited to see new lofts under construction, loft condo conversions and loft buildings going condo.
Anyone interested in new Downtown lofts can request property descriptions, photos and an early viewing. Beat out other buyers to the best new lofts and best deals by getting on the New Lofts Interest List. Fill out the online form:
LOFT & CONDO LISTINGS DOWNTOWN L.A. [MAP]
Copyright © 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 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.