Penthouse B at The Douglas Building Downtown Los Angeles: Where Historic Loft Allure Meets Modern Comfort | TOUR VIDEO

REAL ESTATE NEWS (Los Angeles, CA) — Nestled at the iconic corner of Third and Spring Streets in the historic core of Downtown Los Angeles, the Douglas Building presents an exceptional live/work loft unit for lease: Penthouse B. This unit seamlessly blends the indelible charm of the late 1800s with the conveniences of 21st-century living. Let’s delve into this exquisite residence of extraordinary character, exploring its features, neighborhood, and why it is such a significant offering in the DTLA real estate market.

257 S Spring St Ph B,Los Angeles, CA 90012
$3,500/mo | 2 Beds | 2.5 Baths | 1,370 Sq Ft

Historical Significance: A Walk Down Memory Lane

The Douglas Building is a timeless landmark, conceived by T.D. Stimson, a lumber baron turned real estate mogul, in 1898. Architects James and Merritt Reid meticulously designed this treasure. Today, it stands as one of the few reminders of 19th-century architectural splendor in a cityscape dominated by modern steel and glass structures.

The Vintage Touches:
Original Hardwood Floors: Meticulously maintained, the original 1898 hardwood floors lend an aura of timeless elegance.
Exposed Brick Walls: Authentic and striking, these walls are more than mere supports; they’re historical canvases that add richness and texture to your living space.
Oversized Double-Hung Windows: These restored gems from yesteryears offer panoramic views of the city hall and financial district.
The Penthouse B Experience: A Closer Look

As you step into this sunlit penthouse, an inviting, cozy atmosphere immediately welcomes you.

Interior Features:
State-of-the-Art Kitchen: The modern Poggen Pohl kitchen boasts top-of-the-line Bosch appliances and ample cabinetry, ideal for gourmet cooking or casual dining.
Expansive Living Spaces: Adjacent to the kitchen, a spacious dining area and living room feature large windows, filling the room with natural light and offering a tranquil view of the bustling city below.
Bathrooms and Bedrooms: The unit includes two full bathrooms with luxurious waterworks and deep soaking tubs, and two real bedrooms, each with high ceilings, wide windows, and built-in closet organization systems.
Loft with a Half Bath: An additional upstairs loft is accessible via a spiral staircase. This loft has been remodeled to maintain its original features and includes a convenient half-bath.
Amenities:
Parking: One gated, underground parking space with direct access to the building.
Laundry: In-unit laundry facilities for ultimate convenience.
Pets: Small dogs and cats are allowed, making it a pet-friendly environment.
Pros:
Luxurious Space: The unit offers 2.5 bathrooms and two bedrooms with real doors, providing privacy and ample space.
Historical Charm: Original features like the wood floors and exposed brick walls add an irreplaceable vintage touch.
Pet-Friendly: Animal lovers will appreciate the pet-friendly policies.
Cons: Typical big city issues such as nearby homeless and crime.
Utilities: Tenants are responsible for all utilities, which could add to the monthly costs.
Accessibility: While the building does have an elevator, the unit’s spiral staircase might not be suitable for everyone.

The Neighborhood: Historic Core of Downtown L.A.

Walkable Amenities:
Metro Red Line Station: Located just two blocks away, offering easy transit throughout the city.
Grand Central Market: A few minutes’ walk will take you to this bustling market, a foodie’s paradise.
Cultural Attractions: The Broad Museum, Walt Disney Concert Hall, and several theaters are within walking distance.
Shops and Restaurants: The area is teeming with unique boutiques and eateries that cater to a wide range of tastes and preferences.
Analytical Review:
Being located in the Historic Core, the value of properties like Penthouse B tends to hold up well even in fluctuating markets. The area has witnessed significant revitalization over the past decade, making it a burgeoning hub for culture, cuisine, and commerce. With ongoing plans for neighborhood improvements, properties in this locality are highly sought after.

Make History!

Penthouse B at the Douglas Building isn’t just an apartment; it’s a slice of Los Angeles history blended with modern amenities to provide a unique, comfortable living experience. The cons are far outweighed by the considerable pros, making this property a high-value rental in one of the most vibrant neighborhoods in Downtown L.A. If you’re seeking a residence that offers both historical richness and modern comfort, this is an awe-inspiring lifestyle opportunity you won’t want to miss.

Available for immediate move-in, Penthouse B is vacant and ready to welcome you home. Contact Corey for a personalized tour of this and similar nearby lofts. Seize the opportunity to be part of Los Angeles’ living history!

For more listings and a free hotlist of live/work lofts and condos in Downtown L.A., feel free to reach out 213-880-9910.

Request a tour of lofts in Downtown Los Angeles.

Douglas Loft Penthouse B Views of Downtown Los Angeles
Douglas Loft Penthouse B Views of Downtown Los Angeles

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.

The Tale of Alta Lofts Unit 118: A Cautionary Tale for Home Sellers in Los Angeles

Quick Sale or Fully Marketed Sale?

Real estate is a bustling industry that can offer tremendous rewards, but it also comes with its fair share of pitfalls and cautionary tales. One such tale unfolds in the story of Alta Unit 118, a property located at 200 N San Fernando RD, Los Angeles. What makes this case particularly eye-opening is that the owner sold the property for significantly less than its market value, only to watch an ebuyer investor immediately flip it for a tidy profit.

In a booming market like Los Angeles, where sellers could typically gain an extra $50,000 to $100,000 by fully marketing their properties, the story of Alta Unit 118 serves as an essential lesson. This article delves into the details and aims to provide value to home sellers, buyers, renters, landlords, and investors alike.

Key Details of the Transaction

MLS Listing: OC21175051MR
Size: 1,220 square feet
Sale Price by Original Owner: $475,000
Immediate Resale Price: $549,990
Property Features: 1 Bedroom, 1 Bathroom, $450.81 per square foot
What Happened?

The original owner of Alta Unit 118 sold the property to an ebuyer for around $475,000. An ebuyer, or electronic buyer, usually represents an investment company that uses technology to make instant offers on homes. These offers are often less than market value and can be enticing to sellers looking for a quick sale.

After the purchase, the ebuyer immediately listed the property without making any improvements. Within a short period, the unit was resold for its full market value of $549,990.

The Financial Implication

A quick calculation reveals that the original owner lost out on approximately $74,990 (ignoring transaction fees and other potential costs). In a market where sellers usually make about $50,000 to $100,000 more when selling fully marketed properties, this discrepancy is substantial.

Why Sellers Need to Beware of Ebayers

Quick Sale, Less Profit
Ebuyers offer the allure of a fast transaction, but at a price. Because they’re aiming to make a profit as quickly as possible, they’ll offer less than the home’s true market value.

No Marketing Exposure
Selling to an ebuyer bypasses the traditional marketing process, which includes listing the property on multiple platforms, open houses, and bidding wars—all avenues that could increase the sale price.

Inflated Service Fees
While traditional real estate agents typically charge a commission of 5–6%, ebuyers often have service fees that can range from 6% to as high as 14%. Although it seems like a quicker process, the costs can add up.

Why Working with a Traditional Broker Matters

Market Expertise
A broker who is intimately familiar with the Los Angeles real estate landscape can provide invaluable insights into the best time to sell, price your home, and can even help you stage it for maximum appeal.

Marketing Resources
Traditional brokers often have a variety of resources at their disposal, from professional photographers and staging services to an extensive network of potential buyers. This helps in showcasing your property to a wider audience.

Negotiation Skills
A seasoned broker can effectively negotiate terms, conditions, and prices. In a market like Los Angeles, where prices are skyrocketing, having an advocate on your side can make a substantial difference in your sale price.

Lessons for Buyers, Renters, and Investors

Market Research
Doing your due diligence and market research could save you from paying over the odds for a property or help you snap up a bargain before others notice.

Property Valuation
Always get a property valuation or appraisal. This could be a life-saver, as it was in the case of the ebuyer who bought Alta Unit 118—they knew the unit was undervalued and acted swiftly.

Timing is Everything
If you’re an investor, the tale of Alta Unit 118 demonstrates the lucrative profits that can be made through timely purchases and sales.

Get More Money, Faster, with Less Hassle

The story of Alta Unit 118 serves as a sobering tale for sellers in Los Angeles. In a bustling real estate market, failing to fully market a property can result in significant financial losses. On the flip side, this case presents a valuable lesson for savvy buyers and investors about the gains that can be made through strategic investing.

By understanding the pitfalls and advantages in the real estate landscape, sellers, buyers, renters, landlords, and investors can all make more informed decisions. Always consider working with experienced professionals, like brokers and financial advisors, to guide you through the complexities of the real estate market. This could make the difference between a regrettable loss and a highly profitable sale.

How Much is Your Loft Worth?

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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. Prices are approximate. 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.