Compare this $1,500 Historic Condo Unit to the $15,000 Downtown Los Angeles Luxury Loft Apartment

Two recent rental transactions help illustrate the breadth of the urban income properties in L.A. Loft Blog readers get access to all of the info. Get the scoop on the nicest of affordable rentals, to the biggest and the best. What do you get for $1,500 vs what comes with the much more expensive $15,000 per month super huge, upscale loft?

A Tale of Two L.A. Rentals: Comparing the Historic Condo Unit on James M Wood Blvd to the Luxury Loft on Broadway

As the Los Angeles rental market continues to evolve, two recent transactions offer a fascinating study in contrasts. Today, we’re exploring two distinctive options in urban living: a historic condo unit at 2121 James M Wood Blvd #315, which was leased for $1,450 per month, and an expansive downtown loft at 808 S Broadway #7th Floor, commanding a rental price of $15,000 per month.

The Glen Donald vs. The Singer

Los Angeles is a city of contrasts, especially when it comes to real estate. The rental market is a perfect example, offering everything from cozy studio apartments to luxurious multi-bedroom lofts. Two recent rental transactions in Downtown L.A. underscore this variety. This piece delves into these two distinct properties: a $1,500 per month historic residential condo in the Glen Donald Building and a $15,000 per month luxury loft in The Singer Building managed community of live/work rental income apartment units.

Location, Location, Location

The James M Wood condo is nestled in the Westlake neighborhood, known for its vibrant urban environment and proximity to Downtown LA. The neighborhood offers a mix of unique shops, and diverse restaurants. Nearby, the Metro station provides easy access to the city’s Red and Purple lines. The Glen Donald is located within walking distance of Downtown, near MacArthur Park, placing it at the heart of a vibrant urban community rich in history.

The Broadway loft, on the other hand, is right in the heart of Downtown L.A.’s Fashion District. This prime location is perfect for those who appreciate the convenience of having a wealth of dining, shopping, and entertainment options within walking distance. The Singer, nestled on Broadway among popular landmarks such as the Tower Theater Apple Store and flagship stores of Vans and Urban Outfitters, offers unparalleled access to shops, restaurants, and public transportation.

Comparing Amenities

While both buildings are gated for security, the parking amenities differ. The Glen Donald does not include parking, whereas The Singer provides two parking spaces.

The condo on James M Wood offers a unique, cool pad with vintage charm. Key features include exposed brick, hardwood floors, separate kitchen, vintage style bath tub, and city views. The building provides a variety of amenities such as a large lobby lounge, basement multipurpose room, fitness room, and bike storage. Pretty impressive for a small affordable unit — lovely historic style.

In contrast, the Broadway loft offers luxury and privacy in abundance. The loft, a former Beaux-Arts building turned luxury live/work space, offers the entire floor with no adjacent neighbors. Key features include a wraparound kitchen, open living area, flexible space that can serve as an office or additional bedrooms, and large patios with city views. The building has secured entry, elevators, and parking.

Lease Terms and Inclusions

The lease terms for the condo are 1+ year, with the tenant responsible for a move-in fee, move out fee, and insurance. The rent includes water, gas, trash, and electric utilities.

The lease terms for the loft on Broadway are not specified, but tenants are responsible for cable TV and electric costs. A pet deposit of $500 is required for pet owners.

Size and Layout

The Glen Donald condo, situated in the heart of the Westlake neighborhood, offers 460 sq ft of cozy vintage charm. This studio apartment features a practical, traditional layout suitable for singles or young couples. The unit presents a unique layout with a separate kitchen, large closet, plus a dressing room with additional storage space.

On the other hand, The Singer loft, located in the bustling Downtown district, boasts a generous 6,000 sq ft of sprawling live/work space. Its modern, open floor plan provides flexibility for multiple bedrooms or offices, making it ideal for business people with visiting clientele. The floor plan is open and flexible, allowing residents to create distinct spaces for living and working.

Historical Significance and Style

Both buildings date back to the 1920s, boasting historic charm. The Glen Donald, constructed in 1923, retains a vintage aura that could benefit from additional restoration. The Singer, built in 1922, has been recently renovated to blend its historic allure with modern luxury.

The James M Wood unit is part of the Glen Donald building, a classic 1923 construction that offers a uniquely cool pad with vintage charm. Its style is reminiscent of traditional low rise buildings with modern conveniences.

The loft on Broadway is situated in The Singer DTLA, a renovated Beaux-Arts building dating back to 1922. Its architectural style is modern, with expansive, open spaces and large patios that enhance the connection with the outside.

Views and Noise

The Glen Donald offers beautiful 3rd-floor views of the surrounding neighborhood and city, accompanied by the familiar hum of urban city noise and occasional building sounds.

The Singer, on the other hand, promises stunning 7th-floor views of Downtown and Los Angeles, with urban city noise set against a backdrop of minimal building sounds.

Occupancy Rate and Turnover

The occupancy rate is high for both properties, reflecting their desirability: 99% for The Glen Donald and 100% for The Singer.

Property Taxes and Utilities

The property tax is covered by the owner in both cases. As for utilities, The Glen Donald includes electricity and most utilities in the rent. At The Singer, tenants pay for their electricity.

Final Comparison

The contrast between the historic condo at James M Wood and the luxury loft on Broadway showcases the diverse range of rental options in Los Angeles. With exposed brick and historic character in both, the Singer delivers multiple new luxury bathrooms, a full modern, new luxury chef’s kitchen, high ceilings, massive walls of large windows and semi-private elevator entrance. Whether you appreciate the charm of a historic building or seek the privacy and luxury of an entire floor downtown, the city offers a wide range of choices to match every lifestyle and budget.

Ultimately, the Glen Donald and The Singer represent two very different ends of the L.A. rental market spectrum. The former is a tribute to the city’s historic charm, offering a compact, practical space ideal for individuals or couples. The latter is a testament to L.A.’s modern luxury, with its spacious, flexible layout perfect for professionals seeking a sophisticated live/work environment. Each property, in its unique way, captures the essence of Los Angeles living.

Get a free list of affordable artist lofts or upscale luxury live/work lofts for lease or for sale in Los Angeles. 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.

Los Angeles Mansion Tax

REAL ESTATE NEWS (Los Angeles, CA) — L.A. voters have approved Initiative Ordinance ULA, also known as the “mansion tax,” which imposes a new real property transfer tax on all real property sales priced or valued from $5 million up to $10 million and a higher rate for properties priced or valued at $10 million or greater. The tax is effective April 1, 2023, and is in addition to the existing City and County of Los Angeles documentary transfer taxes, making the latter rate among the highest in the country. The revenue generated from the tax is intended to fund various City efforts to increase the supply of affordable housing and reduce housing costs for homeless and low-income individuals. The ULA Tax applies to all types of real property, from single family homes to office skyscrapers, located in the City of Los Angeles and not otherwise exempted. Certain transfers, such as those to non-profit entities, Community Land Trusts, and Limited-Equity Housing Cooperatives, are exempt. The tax applies to the total sales price or value of the property transferred, without reduction on account of any assumed debt. The tax may discourage some transactions generating modest profit and may have a chilling effect on buyers and sellers in certain situations. The effect of the ULA Tax on the Los Angeles real estate market is uncertain, and it remains to be seen which party will ultimately bear the higher costs. Some developments may become newly profitable, and proceeds from the ULA Tax may be used by the Los Angeles Housing Department to provide financing for qualifying affordable housing projects. A lawsuit has been filed challenging the validity of the ULA Tax, and the litigation is currently pending.

The Loft Blog analysis of the new tax indicates that inflation and economic stagnation will be worsened from the new additional tax because Los Angeles real estate taxes were already too high. More Californians are leaving the state, increasingly moving to lower tax states.

Get a free list of luxury lofts and homes with outstanding character. 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 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.