Discover the Charm of Pasadena’s Rare Live/Work Studio with Fantastic Private Outdoor Space

1650 E Walnut St — A short walk to your favorite shops and restaurants

REAL ESTATE NEWS (Pasadena, CA) — Are you searching for a unique living arrangement that seamlessly combines the convenience of a live/work setup with the charm of a residential studio? Look no further than the rare Pasadena Live/Work Studio located at 1650 E Walnut Street, Pasadena, California. This one-of-a-kind property boasts a minimalist design, fantastic private outdoor space, and a prime location that offers easy access to the Metro Gold Line, Old Town Pasadena, PCC, and the Rose Bowl. Let’s delve into the details of this remarkable studio and explore why it could be your perfect next home. | PROPERTY DETAILS AND PHOTOS | REQUEST A TOUR

Unveiling the Studio’s Unique Features:
Step into this thoughtfully rehabilitated studio unit that has been meticulously upgraded and renovated to create a truly remarkable living space. With an extensive rehabilitation process, this unit has been off the market for a while and now presents itself as a must-see gem. From the moment you enter, you’ll be captivated by the modern touches and attention to detail that make this studio truly special.

Convenience and Location:
One of the standout features of this Live/Work Studio is its exceptional location. Situated among other residences and retail, near the Metro Gold Line, you’ll enjoy easy access to public transportation. Additionally, the studio’s proximity to Old Town Pasadena, PCC, and the Rose Bowl ensures that you’re never far from endless entertainment, dining, shopping, and cultural experiences.

Security and Parking:
Your peace of mind is a top priority in this Live/Work Studio. A motorized gate adds an extra layer of security, ensuring your privacy and safety. The property also includes parking space for two cars, so you won’t have to worry about finding parking on the street after a long day.

Contemporary Interior Design:
The interior of this studio unit is a testament to modern aesthetics and functionality. The newly placed grey vinyl flooring provides a sleek and durable foundation for the living space. A custom closet maximizes storage opportunities, keeping your belongings organized and out of sight. The newly laid quartz kitchen stone adds a touch of elegance and provides a durable surface for culinary adventures.

Comfort and Climate Control:
No matter the season, this Live/Work Studio ensures your comfort with its newly installed mini-split system. The system provides both heating and cooling capabilities, allowing you to create the perfect indoor climate to suit your preferences year-round. Say goodbye to temperature extremes and embrace a cozy and inviting living space.

Embracing Green Energy:
This Pasadena Live/Work Studio takes a step towards sustainability with its think green roof solar panels. By harnessing the power of the sun, the property reduces its carbon footprint while lowering energy costs. Embrace a more eco-conscious lifestyle while enjoying the benefits of renewable energy.

A Tranquil Outdoor Retreat:
Escape the hustle and bustle of daily life and immerse yourself in the fantastic private outdoor space this Live/Work Studio offers. Whether you’re looking to unwind, entertain guests, or simply bask in the sunshine, this outdoor area provides a serene oasis just steps from your front door.

The Pasadena Live/Work Studio at 1650 E Walnut Street is a rare find that combines the best of residential living with a convenient live/work setup. With its prime location, modern upgrades, and fantastic private outdoor space, this studio is an ideal choice for individuals or couples seeking a unique and versatile living arrangement. Don’t miss the opportunity to make this exceptional property your next home. | REQUEST A VIEWING

Get a free list of live/work lofts, condos, apartments or single family homes for lease or for sale in Pasadena or anywhere in the Greater Los Angeles Area. 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 DRE 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. Text and photos created or modified by artificial intelligence. Properties subject to prior sale or rental. This is not a solicitation if buyer or seller is already under contract with another broker.

Unwarrantable Condo and Loft Loans Taking Over L.A.

REAL ESTATE NEWS (Los Anglees, CA) — If you’ve had your eye on a loft condo in Los Angeles, you’ve probably encountered some complex and perhaps discouraging aspects of the loan process. Among the most pressing challenges is the surge in non-warrantable condos – a category of real estate that is giving even the most seasoned investors pause. Litigation, lawsuits and other issues have long been a hidden trap for live/work and loft conversions. Even Alta lofts, home of the Loft Blog, has had loan issues. This article aims to shed light on these significant issues, the potential pitfalls you could encounter, and the solutions available to overcome these hurdles.

The Emergence of Non-Warrantable Condos

Today, non-warrantable condos are becoming more prevalent in Los Angeles, and indeed, across California. A condo is deemed non-warrantable when it does not meet specific criteria established by Fannie Mae or Freddie Mac, the government-sponsored entities that back a majority of U.S. mortgages.

Among the common issues that can designate a condo as non-warrantable are:

Inadequate HOA master insurance: If the condo’s Homeowners Association (HOA) insurance doesn’t meet Fannie Mae’s requirements, you’re in non-warrantable territory. This could mean insufficient coverage or high deductibles, either of which can pose significant risks.
Construction defect litigation: If a lawsuit is currently in progress over construction defects (known as SB 800 claims in California), this could be a red flag that moves the property into the non-warrantable category.
Deferred maintenance and ongoing repairs/construction: A history of deferred maintenance can suggest problems with property management and could potentially lead to costly repairs down the line.
Special assessments for deferred maintenance: These are fees collected by the HOA to cover significant repairs or improvements that the regular budget cannot accommodate. Such assessments can signify financial instability or poor planning.
High single entity ownership: If a single entity (individual, investor, or corporation) owns more than 10% of the units in the condo project, it can be deemed non-warrantable.
These are just a few of the issues that can render a condo non-warrantable, but the list is expansive and constantly evolving.
High Renter Ratio: A high ratio of renters to owner-occupiers can raise concerns for lenders. If a substantial percentage of units in the condo development are rentals, it can be classified as non-warrantable. The worry here is that owners who rent their units might be less invested in the upkeep of common areas and the overall stability of the condo project.
Commercial Space in the Building: While mixed-use buildings with both residential and commercial spaces are common in urban areas, they can pose challenges for obtaining a condo loan. If commercial space makes up a significant portion of the building’s square footage, it can push the property into the non-warrantable category.
Concrete Flooring Deemed “No Flooring”: Concrete floors, often found in industrial-style loft condos, can be a sticking point with some lenders. Despite their aesthetic appeal and popularity, these floors might be classified as “no flooring,” putting the condo at risk of being deemed non-warrantable.

Bridging the Gap with Loft Loans

The rise in non-warrantable condos might seem like an insurmountable obstacle. Yet, for those with their hearts set on a loft condo, there is a way to navigate this complex landscape: working with a direct lender who specializes in loft loans and unwarrantable condo loans.

These lenders, like UC Loans, offer conventional 30-year fixed mortgages, with as little as 10% down, even for non-warrantable condos. Furthermore, they have the ability to close transactions quickly – a vital advantage in today’s fast-paced real estate market. They bridge the gap where non-Qualified Mortgage (non-QM) lenders can’t, providing an essential lifeline for your next non-warrantable condo transaction.

And there’s even more good news. Some of these lenders are leveraging the power of artificial intelligence (AI) to streamline their processes. Take, for example, the newly available AI-backed Home Equity Line Of Credit (HELOC) up to $400,000, designed explicitly for non-warrantable condos. This loan requires no appraisal, no hard credit pull, no escrow/title, and can close in as little as 5 days.

While the proliferation of non-warrantable condos can complicate your loft condo acquisition, it doesn’t have to be a deal-breaker. By working with a direct lender experienced in navigating the complexities of loft loans and litigation loans, you can still realize your dream of owning a unique and stylish loft condo in Los Angeles. Be prepared, stay informed, and don’t let non-warrantable status put a damper on your loft aspirations.

Get a free list of loft lenders in Los Angeles. Fill out the online form.

LOFT & CONDO LISTINGS DOWNTOWN LA [MAP]

  Lofts For Sale     Map Homes For Sale Los Angeles

SEARCH LOFTS FOR SALE Affordable | PopularLuxury
Browse by   Building   |   Neighborhood   |   Size   |   Bedrooms   |   Pets   |   Parking

Copyright © This free information provided courtesy L.A. Loft Blog with information provided by Corey Chambers, Broker DRE 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. Text and photos created or modified by artificial intelligence. Properties subject to prior sale or rental. This is not a solicitation if buyer or seller is already under contract with another broker.