Loft For Sale – Page 18

What is the Mills Act Program?

Q: What is the Mills Act Program?
A: Economic incentives foster the preservation of residential neighborhoods and the revitalization of downtown commercial districts. The Mills Act is the single most important economic incentive program in California for the restoration and preservation of qualified historic buildings by private property owners. Enacted in 1972, the Mills Act legislation grants participating local governments (cities and counties) the authority to enter into contracts with owners of qualified historic properties who actively participate in the restoration and maintenance of their historic properties while receiving property tax relief.

Mills Act participants can realize very fruitful property tax savings each year for recently improved or purchased old properties because the valuation of a Mills Act property is determined by the Income Approach to Value rather and not by the common Market approach to calculating the appraised value. The Income Approach, divided by a capitalization rate, gives the assessed value of the property. Generally, the income potential for an owner-occupied residential property is calculated by looking at rental rates for comparable nearby properties, while the income from a commercial property is based on actual rent received. Because rental values vary greatly, the actual Mills Act historic property tax savings may vary.

Biscuitt Comany Lofts Deck — Biscuit Company Lofts Deck

Spotlighting a Mills Act property on the Market look no farther than this brilliant unit in the Biscuit Company Lofts. Designer perfect, turnkey, 2 story Penthouse at the Biscuit Company Lofts. Located in the epicenter of DTLA’s Arts District within close proximity to all of the best restaurants, coffee shops and soon to open Soho House. No expense was spared while turning this incredible residence into truly one of the finest in the neighborhood. Notable features include a private terrace with incredible West facing panoramic downtown views of the DTLA skyline, original brick walls, wood floors, stainless steel kitchen, and 2 full bathrooms. Considered one of the finest buildings in the Arts District, the Biscuit Company Lofts offers 24 hour-controlled entry, security guard, and concierge services. A resort-like swimming pool, outdoor entertaining area, fire pit, BBQ, dog walk, a two-level gym & 2 parking spaces round out this special offering. Mills-Act approved.

#MillsAct #PenthouseLoft

Would you like to know more? Mills act buildings Lofts are available now get the free list. Fill out this online form.

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LOFT & CONDO LISTINGS DOWNTOWN LA [MAP]

Biscuitt Company Lots Pool Deck — Biscuit Company Lots Pool Deck

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.

Elleven 1111 S Grand Ave unit for sale with direct courtyard access

DTLA South Park Luxury Lofts — DTLA South Park Elleven Lofts Lobby and Community Space.

Elleven Lofts has a thoughtful architectural design that blends in with its neighboring buildings in the South Park district of Downtown Los Angeles.

The exterior of the building is wrapped in glass, which allows plenty of light into each of the lofts, providing an open space for the residents, and maximizing views of the surrounding LA city and skyline. A socially responsible and economically friendly approach was taken during the construction and maintenance of Elleven Lofts.

South Park is within walking distance to everything. There is a new Whole Foods. There are food trucks. There’s fine dining. South Park is definitely walking distance to the Convention Center. It has everything. Also, they have the metro bike share, which is much, much more convenient for people who think it’s hard to finding parking Downtown. If they just take Metro to Downtown you can bike everywhere you want.

In the lobby, you are greeted by professional front desk service with 24-hr security open to a beautifully decorated waiting area that also leads to an outdoor seating area in front. Upon exiting the elevators on the 4th floor exposes the attention to detail of the on-site building management. The units have all the features of an industrial loft with attention to details like the floor to ceiling windows in the living area, which also opens to the kitchen with eating area. But this type of “soft loft” is purpose-built with high-end finishes and details that mark it as a step above industrial lofts. The in-unit storage/utility room is equipped with washer and dryer hookups and custom shelving. The sleeping area can be closed off with privacy curtains when a guest is present. The custom closet doors open to multi-level storage and a safe to keep valuables out of site. The large bathroom offers a custom tall storage cabinet. This RARE unit offers direct access from the private patio to the entertainment area with multiple grilling stations. Plenty of seating to accommodate large parties or just a relaxing evening by the outdoor fireplace. The gated pool and spa area has various lounge areas with an outdoor shower and conveniently located restrooms. An assigned parking stall with direct access to a large private storage area. Located a few blocks from LA Live, Staples Center and many other restaurants, bars and services. Approximately 2.8 miles from USC campus, about 1.2 miles to Loyola Law School. South Park is described as a neighborhood for people who love urban life, who love crowds, and who enjoy the nightlife.

#southparkLofts #EllevenLofts

More information on Luxury Condos and Lofts for free. Fill out the online form.

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LOFT & CONDO LISTINGS DOWNTOWN LA [MAP]

Elleven Lofts Downtown Los Angeles — Elleven Lofts in South Park district of Downtown Los Angeles

Category: Loft For Sale

Mills Act Tax Savings for Downtown LA Lofts

Elleven 1111 S Grand Ave Lofts Have High Quality Finishes In A Luxury Setting

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