What’s Wrong with Downtown Lofts

All Downtown loft buildings have issues that prospective buyers want to be aware of. Think DTLA lofts are cool?  They are, but they’re all far from perfect.  Many have serious problems such as lawsuits and financing problems. Here’s just a few of the issues that buyers should know about:

Raw lofts Downtown LA

1100 Wilshire – Chase Bank wear. Lawsuits reduced maintenance. Dwindling reserves.
655 Hope – Claustrophobia. Windows don’t open. No guest parking.
Alta Lofts – Notice of claim. HOA to sue developer – construction defects. Theft.
Barker Block – Lawsuit. HOA suing developer for construction defects.
Bartlett Building – No parking space included.
Barn Lofts – Free street parking is going away.
Beacon Lofts – Nobody knows what it is. No staff.
Biscuit Company – No metro nearby. Getting hard for guests to park.
Bunker Hill Tower – High HOA dues. No washer-dryers in most units.
Concerto Lofts – Lawsuit. HOA suing developer – construction defects.
Cornell Building – Most parking spaces are a block away in skid row.
Douglas Building – Most units have no parking. No guest parking.
Eastern Columbia – High HOA does.  Views being blocked.
Eckardt Building – Most parking spaces are a block away in skid row.
El Dorado Lofts – No amenities. Nobody knows what it is.
Elleven Lofts – No fitness center. Shares pool and courtyard with Luma.
Evo – Lawsuit. HOA suing developer for construction defects.
Flower Street Lofts – No views and losing views. HOA dues rising.
Glen Donald Building – Not in Downtown.
Gallery Lofts – Construction next door.  Mostly no views.
Grand Avenue Lofts – No character. No amenities.
Higgins Building – High HOA. Coming assessment. No parking. No amenities.
Library Court – No character. Most have no views.
Little Tokyo Lofts – Homeless shelters.  Mental clinic.  Lawsuit.  Water leak.
Luma – Losing views. Glut. Expensive.

New condos by the river suffer from freeway noise


Market Lofts – No character. Unfriendly security.
Metropolis Los Angeles – Not built yet.  Expensive.  China company.
Molino Lofts – Terrace problems.  Some units not updated.
Mura Condominiums – Not a loft. Oppressive rules.
Ocenwide Plaza – Not built yet. Stuck in big event traffic.
Ostrich Farm Lofts – Far away.  Out in the tulies.
Pan American Building – Nothing for sale.  Nobody has heard of it.
Promenade Condominiums – The 80s called. They want it back.
Promenade West – Expensive.  High HOA dues.
Puerta Del Sol – Disrepair. Nothing to walk to.  Freeway. Black lung disease?
Ritz Carlton Residences – Expensive HOA. Mandatory valet parking.
River House – Freeway noise. Boxy architecture. Delays. Prowling coyotes. Gnats.
Rowan Lofts – High HOA dues. Most have no views.
Santee Village – Most parking spaces are a block away in skid row.
Savoy Condominiums – Not s loft. No character. Some have no views.
SB Grand – Loiterers, renters galore. HOA financials incomplete. Many issues.
Skyline Condominiums – 1980 wants its condos back.
Sky Lofts – No pool. High HOA dues.
SL70 – Not in Downtown. No pool.
Ten50 – Not completed yet.  Cramped floorpans. No microwave.
Teramachi Homes Senior Condos – Gotta be a senior age 55+.
Textile Building – Nothing really available.  Can’t lease it out.
Title Guarantee – Canceled.
Tokyo Villa Condominiums – 1979 wants its condo back. Weird koi pond courtyard.
Toy Factory – No metro nearby. Slowly losing its street parking. No guest parking.
Toy Warehouse – Noisy floors and thin ceilings.
Vero – Not in Downtown. No character. Most have no views. Thin walls.

Beacon Lofts – Little-Tokyo – Downtown – Avoid Buyer Traps!

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Copyright © This free information provided courtesy L.A. Loft Blog and LAcondoInfo.com with information provided by Corey Chambers, Realty Source Inc, BRE#01889449  Not associated with the homeowner’s association, seller 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.

Based on information from the Association of REALTORS®/Multiple Listing as of [date the AOR/MLS data was obtained] and /or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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It’s the #1 best kept secret in Downtown Los Angeles. While more buyers than ever are feeling empowered with all of the real estate and property information on the internet, most are unaware of just how many properties they are not seeing.  Out of sight, out of mind.

Up to 45% of the best deals in Downtown L.A. are pocket listings, off-market, exclusive deals, unlisted lofts, unadvertised condos and private transactions. Many prospective buyers make the mistake of sifting through hundreds of online listings that may or may not match the buyer’s criteria, and the buyer risks missing out on just the right home.

There are many reasons why so many properties are unlisted, often the listing agent simply notifies their office and other friendly local agents about new listings while the listing is being processed and prepared for the multiple listing service.

Technical glitches, spelling errors, listing omissions and other unanticipated events cause properties to be unlisted or otherwise not found on the MLS and not found on the internet.  One common example is glitches and imperfections in the MLS-IDX feed to websites, and mistakes that agents and website owners make when attempting to link to local properties. This is why the L.A. Loft Blog has been adding alternative ways of finding homes for sale in addition to the regular FOR SALE links.

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Many pocket listings are the result of sellers not being quite ready to invite the entire world into their home. Many properties for sale have renter tenants who are not always cooperative. Sometimes, the landlord does not want the tenant to know that the home is on the market because the landlord does not want to anger or possible lose the tenant too early.

Often the seller simply wants a more discrete transaction, the seller wants to be able to pick and choose the buyer, or the seller simply does not want the home to have an appearance of undesirable by being on listed on the MLS too long.  A Downtown home that is listed on the MLS for more than 60 days might be tarnished, thought of as a potential problem.

To add to the problem, several MLS Multiple Listing Services, including our own popular local Combined Los Angeles Area Westside MLS, place a 3-day delay on feeds to the online real estate websites such as Trulia, Zillow and other real estate sites. This adds up to about 5 days delay before the average prospective home buyer sees the best deals online. Even without the artificial delay, the internet takes time for property information and its metadata to propagate to all of the websites.

There are countless other reasons why many of the best loft deals in Downtown Los Angeles are not found by many buyers, agents and brokers. TheMLS and other real estate professionals agree that buyers often get a better deal and a faster transaction with a pocket listing. Get free unlisted lofts and pocket listing information. Fill out the online form:

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