REAL ESTATE NEWS (Los Angeles, CA) — The Los Angeles Apartments with Lofts links that we published yesterday were very popular, so we’re adding more elaborate details on the Loft Blog today:
If you are searching for a spacious and modern loft in Downtown Los Angeles, you might want to consider a 2-story loft apartment. These lofts are highly sought after due to their openness, spaciousness, and separation of bed area. Additionally, 2-story lofts have soaring high ceilings in the main area, which can be up to 15 feet to 20 feet high instead of the more typical 10 foot loft ceilings. In this blog post, we will explore the benefits of 2-story lofts, and provide a list of buildings in Downtown Los Angeles that have 2-level condos for sale and for lease.
2-Story Lofts – The Ultimate in Loft Living
A 2-story loft apartment is an ideal modern alternative to a traditional bedroom. The loft gives the feeling of privacy and separation while also bringing extra loftiness. With ultra high ceilings and excellent separation of the living and sleeping areas, many loft lovers appreciate a condo or apartment unit that has an upstairs area. Some loft buildings in Downtown Los Angeles have at least a few units with 2-stories such as an upstairs mezzanine bed area. With open lofts, some type of bed area separation is usually desirable, and having a bed area upstairs is often the perfect type of separation for loft living.
Additionally, the palatial vaulted ceilings of the main loft area in 2-level units are extra high, around 16 feet high or more, giving more total space and feeling of openness to the downstairs area of the loft. For those who want to experience loft living at its finest, a 2-story loft apartment is the ultimate in loft living.
Buildings with 2-Level Condos for Sale and for Lease
If you are looking for a 2-story loft apartment in Downtown Los Angeles, you will be pleased to know that many buildings offer these types of units. Here is a list of buildings in Downtown that have 2-levels with stairs in some of the units, starting with the buildings that are most likely to have a 2 level unit available:
Gallery Lofts
Flower Street Lofts
Alta Lofts ground floor and penthouses
Biscuit Company
1100 Wilshire
655 Hope
Barker Block ground floor and penthouses
El Dorado Lofts penthouses
Higgins Building penthouses
Pan American Building penthouses
Rowan Lofts ground floor
Grand Avenue Lofts ground floor
Luma ground floor
Elleven Lofts ground floor
Bartlett Building – a few owners have added upstairs lofts
1100 Wilshire – a few upstairs units with balconies
Beacon Lofts penthouses
Molino Lofts – a few have added upstairs lofts
Mura Condominiums – several units have traditional upstairs bedrooms
Promenade Condominiums – several units have traditional upstairs bedrooms
Puerta Del Sol – ground floor units have upstairs living areas
SL70 – New Silver Lake 4-level townhouses with private rooftop terraces
Rental Buildings with 2-Level Apartments for Lease
In addition to condos for sale, there are also several rental buildings in Downtown Los Angeles that offer 2-level apartments for lease. Here is a list of some of these buildings:
Broadway Lofts
Packard Lofts
Roosevelt Lofts
Canvas LA Apartments
Continental Lofts – penthouses
Elysian – penthouses
Factory Place – ground floor
Union Lofts – some units have upstairs bed areas
Pacific Electric – penthouses with beautiful windows and i-beams
Peterson and Tansey Lofts – a few have added upstairs lofts
Lofts vs Apartments
The main difference between lofts and apartments is the design and architecture. Lofts typically have an open floor plan with high ceilings, exposed pipes, brick walls, and large windows. Apartments, on the other hand, have a more traditional layout with defined rooms and lower ceilings. Additionally, lofts are often located in repurposed industrial buildings, while apartments can be found in purpose-built residential buildings.
Live/Work Lofts
Live/work lofts are a popular choice for those looking for a space that can be used as both a residence and workspace. These types of lofts often have separate areas for living and working, with the working area located on the ground floor and the living area located on a mezzanine level. Live/work lofts are often used by artists, photographers, and small business owners.
Industrial lofts are a type of loft that retains the character and architectural features of the building’s industrial past. These types of lofts often have exposed pipes and ducts, brick walls, and large windows. Industrial lofts can be found in repurposed factories, warehouses, and other industrial buildings.
Commercial buildings can also be repurposed into lofts. These types of buildings often have large floor plans and high ceilings, making them ideal for loft conversions. Commercial buildings can be found in a variety of styles, including Art Deco, Beaux-Arts, and Modernist.
Residential buildings are purpose-built buildings that are designed for residential use. These types of buildings often have traditional layouts and lower ceilings than lofts. Residential buildings can be found in a variety of styles, including Modernist, Art Deco, and Mid-Century Modern.
Lofts for Sale and Lease in Downtown LA
There are many options for those looking to buy or rent a loft in Downtown Los Angeles. Some of the most popular buildings with lofts for sale or lease include:
The Eastern Columbia Building: The Eastern Columbia Building is an Art Deco building located in the Historic Core district of Downtown Los Angeles. The building has 147 units, including many lofts with high ceilings and large windows.
The Rowan Lofts: The Rowan Lofts is a Beaux-Arts building located in the Old Bank District of Downtown Los Angeles. The building has 206 units, including many loft-style units with open floor plans and high ceilings.
The Barker Block: The Barker Block is a collection of loft-style buildings located in the Arts District of Downtown Los Angeles. The buildings feature many industrial design elements, such as exposed brick walls and large windows.
The Biscuit Company Lofts: The Biscuit Company Lofts is a repurposed factory building located in the Arts District of Downtown Los Angeles. The building has many loft-style units with high ceilings and open floor plans.
The Little Tokyo Lofts: The Little Tokyo Lofts is a collection of loft-style buildings located in the Little Tokyo neighborhood of Downtown Los Angeles. The buildings feature many industrial design elements, such as exposed pipes and ducts.
The Mills Act is a valuable economic incentive program that helps private home owners, including loft condominium unit owners in California with the restoration and preservation of qualified historic buildings. For L.A., the program is administered and implemented by the City of Los Angeles. The Mills Act contracts are between the property owners (HOA for condo buildings) and the city and county government granting the tax abatement.
The Mills Act economic incentive program has helped the City of Los Angeles design preservation programs to accommodate Downtown and the entire city’s needs and priorities for rehabilitating its neighborhoods, encouraging seismic safety programs, contributing to affordable housing, promoting heritage tourism, and fostering pride of ownership. The city and neighborhoods get economic benefits of conserving resources and reinvestment as well as playing an important role in historic preservation for revitalizing older areas, creating cultural tourism, building civic pride, and retaining the sense of place and continuity with the community’s past.
In Downtown L.A., the Mills Act lofts are a popular choice for buyers and renters who want to live in historic buildings with character and charm. The program provides property tax benefits that can represent a great deal on a home in Downtown L.A. Property tax relief helps to dramatically defray costs to rehabilitate and maintain the historical and architectural character of Downtown L.A. properties for at least a ten-year period, which usually gets renewed. The Mills Act program is especially beneficial for recent buyers of historic properties and for current owners in historic buildings. Participants may realize substantial property tax savings of between 40% and 60% each year for newly improved or purchased older properties because valuations of Mills Act properties are determined by the Income Approach to Value rather than by the standard Market Approach to Value.
The income approach, divided by a capitalization rate, determines the assessed value of the property. In general, the income of an owner-occupied property is based on comparable rents for similar properties in the area, while the income amount on a commercial property is based on actual rent received. Because rental values vary from area to area, actual property savings vary from county to county. In addition, as County Assessors are required to assess all properties annually, Mills Act properties may realize slight increases in property taxes each year.
To get more information about Mills Act lofts, the City of Los Angeles’ Office of Historic Resources holds an annual Mills Act Workshop (contact the Loft Blog for updated dates and times). This event will give an overview of the Mills Act Historical Property Contract Program and details about the City of Los Angeles’ application process for the next year. All prospective applicants and others interested in learning more about the program are invited to attend.
Get a free list of Mills Act historic lofts for sale. Fill out the online form:
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Copyright © This free information provided courtesy L.A. Loft Blog with information provided by Corey Chambers, Broker CalDRE 01889449. We are not associated with the seller, homeowner’s association or developer. For more information, contact 213-880-9910 or visit LALoftBlog.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.