Category: Mills Act

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Mills Act Real Estate Agent

The Comprehensive Guide to Mills Act Real Estate with Corey Chambers

REAL ESTATE NEWS (Los Angeles, CA) — When it comes to historic properties, few topics generate as much interest and potential for financial benefits as the Mills Act does. This piece of legislation, unique to California, offers property tax relief to homeowners who restore and maintain their historic homes. But navigating the ins and outs of the Mills Act can be a daunting endeavor, and that’s where the value of a seasoned Mills Act real estate agent comes into play. One such agent is Corey Chambers in Los Angeles, California, whose experience and expertise make him a vital resource for anyone interested in Mills Act properties. This blog will delve into the Mills Act, unlisted Mills Act properties for sale, Mills Act properties for lease, and even Non-Mills-Act’s historic properties that are available for sale and for rent in Greater Los Angeles and throughout California.

What is the Mills Act?

The Mills Act is a California law enacted in 1972 to incentivize the preservation of historic and culturally significant properties. It does so by offering property tax reductions, often amounting to 40-60% lower than typical rates. The catch? Owners must use the savings for restoration and upkeep. While this may seem like an incredible deal (and it often is), the complexities of finding, purchasing, and maintaining a Mills Act-eligible home require expert advice.

Corey Chambers – The Mills Act Real Estate Agent

Corey Chambers is not your average real estate broker. Based in Downtown Los Angeles, Corey has an extensive background in dealing with historic homes and is one of the most experienced Mills Act real estate agents in California. Not only does he guide his clients through the intricacies of the Mills Act application process, but he also has an expansive network that often allows him to find unlisted Mills Act properties for interested buyers and renters.

Why Experience Matters

The real estate world is already a complex landscape, but add the Mills Act into the equation, and you have an entirely different beast. Here’s where Corey Chambers shines. With years of experience, he understands the nuances of the Mills Act. He knows what appraisers and inspectors are looking for when they assess the historical value and the integrity of the property. Moreover, he can guide homeowners through the annual review process, ensuring continuous compliance with Mills Act stipulations.

Unlisted Mills Act Properties for Sale

Often, the most unique and desirable Mills Act properties are not listed on traditional real estate platforms. These are opportunities that only insiders get access to, making a well-connected agent like Corey Chambers invaluable. Through his extensive network, he often gets wind of such opportunities before they hit the market, giving his clients the edge in a competitive landscape.

Mills Act Properties for Lease

While Mills Act primarily targets property owners, leasing a Mills Act property can also offer indirect benefits. Leasing such a property can be advantageous for renters who appreciate historic architecture and are willing to live in a home that is under some level of renovation or restoration. While the tax incentives do not directly translate to the renter, they can result in better-maintained properties and more amenable landlords.

Non-Mills-Act’s Historic Properties

Not all historic properties are under the Mills Act. Some might not meet all the criteria, and others might simply not have gone through the application process yet. However, these properties can still be of great interest to both buyers and renters alike for their unique architecture and history. Corey Chambers, with his broad purview of real estate in Greater Los Angeles and California, can assist you in finding such gems. Whether for sale or for rent, Non-Mills-Act’s historic properties offer another avenue for those interested in a slice of history.

Greater Los Angeles and Beyond

While based in Los Angeles, Corey Chambers’ services are not geographically limited. Understanding that historic properties are scattered all over California, from San Francisco’s Painted Ladies to San Diego’s Spanish Revival homes, Corey offers his expertise across the state. Whether you’re looking for a Downtown L.A. loft, craftsman bungalow in Pasadena or a victorian mansion in Sacramento, Corey’s network and know-how can guide you through the labyrinthine processes involved in purchasing or leasing a historic property.

Unlocking the Doors to California’s Historic Treasures: How Corey Chambers Guides You Through the Maze of Mills Act Properties

The Mills Act offers a unique opportunity for those looking to own a piece of history in California. However, navigating the complexities of Mills Act properties—whether buying, selling, or leasing—requires a level of expertise that only a seasoned agent like Corey Chambers can provide. His years of experience, extensive network, and in-depth understanding of both Mills Act and Non-Mills-Act’s historic properties make him a go-to resource for anyone interested in this niche market.

By teaming up with a knowledgeable agent like Corey, you’re not just buying or renting a property; you’re investing in a piece of California’s rich history, and potentially saving a substantial sum while you’re at it. So if you’re in the market for a historic home and want to make the most of the opportunities provided by the Mills Act, look no further than Corey Chambers.

The Top 10 Most Popular Properties Handled by Corey Chambers and the Spotlight on Mills Act

When you think about historic real estate in Greater Los Angeles, it’s hard to ignore the impact that Corey Chambers and his team have had in this unique niche market. Specializing in Mills Act properties as well as non-Mills Act historic residences, Corey Chambers offers unparalleled expertise. Below are some of the most popular properties last handled by the Corey Chambers real estate team, with a special focus on Mills Act-approved buildings.

The Mills Act Approved Properties

  1. Rowan Building – 460 S Spring St, Unit #701 (Mills Act Approved)
    Located in the historic core of Downtown Los Angeles, the Rowan Building has been an icon since its inception. Unit #701 offers an appealing blend of classic architecture with modern amenities. Being Mills Act approved, the property attracts buyers looking for substantial tax benefits along with a taste of historic Los Angeles. DETAILS
  2. Bartlett Building – 215 W 7th St, Unit #1210 (Mills Act Approved)
    Situated in the heart of Downtown LA, the Bartlett Building is another Mills Act-approved marvel. Unit #1210 features expansive views and lofts that offer a unique blend of vintage aesthetics and contemporary comforts. The Mills Act approval makes this an incredibly popular property, given the tax incentives involved. DETAILS

Non-Mills Act Popular Properties, Latest Popular Units

  1. Molino Street Lofts – 500-530 Molino St, Unit #304
    This historic industrial style property captures the essence of what it means to live in a loft in Downtown LA. While not Mills Act approved, it is a highly desirable residence offering an authentic urban living experience. DETAILS
  2. Glen Donald Building – Unit 315
    Interestingly, Unit 315 in the Glen Donald Building has been in high demand. This historic structure itself is a nod to the architectural grace of yesteryears. DETAILS
  3. 5022 Waverider Cir, Huntington Beach – Unit B
    This property represents a break from the downtown scene, offering unique amenities and features that resonate with an Orange County resident. DETAILS
  4. 5022 Waverider Cir, Huntington Beach – Unit C
    Similar to Unit B, this property stands as a testament to modern architecture and facilities, showcasing a kind of appeal different from historic downtown properties. DETAILS
  5. Singer Building – Unit 700
    Offers a high-end historic, contemporary style. Although not Mills Act approved, its unique character and palatial size makes it a sought-after property. DETAILS
  6. Loft 726 – Unit 302
    This loft-style residence offers a unique historic industrial aesthetic, and live/work environment that makes it a popular choice among energetic residents.
  7. Concerto Building – Unit 305
    This modern residence is particularly popular for those who prioritize amenities like state-of-the-art fitness centers, pools, and communal spaces. Unit 305 has gorgeous updated kitchen and bath. DETAILS
  8. Shybary Grand Lofts – Unit 1002
    This property has its own unique lofty appeal and offers a blend of history and central, walkable location to countless shops, restaurants, steps from the Pershing Square Metro station. DETAILS

From Tax-Savvy Historic Havens to Modern Urban Paradise: How Corey Chambers is Your Ultimate Guide in LA’s Dynamic Real Estate Market

It’s clear that Corey Chambers and his team have an expansive portfolio of handled properties that ranges from Mills Act-approved properties like the Bartlett Building and Rowan Building to other popular yet non-Mills Act residences. Each property offers its own set of features that attract a range of buyers, from those looking for historical charm combined with tax benefits to those searching for modern amenities in a vibrant community.

The Mills Act-approved properties remain a hot commodity, largely due to the tax incentives they offer, further underscoring the value of an experienced Mills Act real estate agent like Corey Chambers. Whether you’re interested in Mills Act benefits or simply looking for a piece of LA’s storied history, the Corey Chambers team stands ready to assist.

Get a free list of Mills Act historic lofts for sale or for lease. 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.

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Mills Act LA

The Jewel of Downtown LA: A Mills Act-Approved Loft at Rowan Lofts at 460 S Spring St #1016, Los Angeles, CA 90013 | Mills Act For Sale | Mills Act For Lease

Unveiling A Captivating Blend of History and Modern Living
Normally, I would not use sparkly words like “jewel” for most properties, but The Rowan Building deserves this appropriate moniker. In the heart of Downtown Los Angeles, a striking architectural beauty stands out amidst the skyline, offering a unique fusion of history and contemporary design. Situated in the prestigious Rowan Lofts, the newly listed unit #1016 brings a perfect amalgamation of timeless elegance, modern comforts, and breathtaking views—all at an asking price of $500,000. We will also discuss the Rowan Building, Historic Core neighborhood and Mill Act benefits.

Key Features:

734 Square Feet
List Price per Sqft: $681.20
HOA Fee: $695 Monthly
Year Built: 1912, Mills Act
Units in Complex: 206

The loft is ideally located at the corner of Spring St & 5th St, with the entrance accessible from Spring St. Street parking is available along Spring St or Main St, making it convenient for residents and visitors alike. The location is unbeatable, placing you near some of the most popular destinations in Downtown LA, such as The Last Bookstore, Grand Central Market, Perch, and Pershing Square.

Interior Excellence

Open Space & Natural Light
The interior boasts a spacious 734-square-foot layout drenched in an abundance of natural light, thanks to a wall full of double-hung mahogany windows. The generous placement of these windows offers unparalleled views of the Downtown LA skyline and Spring St Park.

Architectural Nostalgia
What sets this loft apart is the impeccable preservation of its historic elements. The original exposed brick walls and luxurious hardwood floors take you back in time while adding character and depth to the space.

Efficient Design
In an innovative twist, the loft features a closet wall that serves as a clever bed area separation, providing privacy without compromising the open-floor concept.

Kitchen
The kitchen doesn’t fall short either, complete with alluring granite countertops and backsplash, custom-made Scavolini cabinets, and Bosch stainless-steel appliances, including a 4-burner gas range.

Building Amenities

Outdoor garden
BBQ grilling stations
Hot & cold plunge pools
Resident’s lounge
On-site storage cages
24-hr security & concierge
Mills Act Advantage

One of the most compelling benefits of this property is its Mills Act approval. This gives homeowners massive property tax savings, with most seeing upwards of 70% off traditional tax amounts.

The Rowan Building: A Historic Landmark in the Heart of Downtown LA

An Architectural Gem with a Rich Past

Situated at the intersection of Spring Street and 5th Street in the vibrant downtown Los Angeles, the Rowan Building stands as a symbol of architectural prowess, cultural importance, and modern urban living. Built in 1912, this Beaux-Arts style building has been through various transformations that reflect the evolution of Downtown LA itself. It’s not just a building; it’s a landmark that has withstood the test of time.

The Facade: An Ode to Beaux-Arts Architecture

The Rowan Building is more than just another high-rise. Its exterior is a work of art, clad in original brick and terra cotta facade that has been preserved to maintain its historic charm. This captivating exterior is complemented by large, mahogany-framed windows that draw the eye and let in an abundance of natural light.

Interior Grandeur: Where History Meets Luxury

As you step into the building, you’re welcomed by vast hallways adorned with Carrera marble. The original copper and brass staircase banisters add a nostalgic touch to the luxurious ambiance. The sense of grandeur isn’t just confined to common areas; it extends to individual units like the recently listed Loft #1016, where residents can enjoy luxuries such as hardwood flooring, original exposed brick walls, and large mahogany windows.

Living in the Rowan: Amenities & Lifestyle

Unique Amenities

Residents of the Rowan Building don’t just get an apartment; they get a lifestyle. Among the amenities are:

  • A serene outdoor garden
  • BBQ grilling stations for culinary enthusiasts
  • Hot & cold plunge pools for relaxation
  • A resident’s lounge designed for socializing
  • On-site storage cages for extra convenience
  • 24-hour security and concierge services for peace of mind

Community Living

The Rowan Building fosters a sense of community through shared spaces such as the resident’s lounge, outdoor cooking areas, and the garden. These spaces allow neighbors to come together in a city that often feels too big.

The Neighborhood

The Rowan is not just a building but a part of a bustling community. Downtown Los Angeles offers a plethora of lifestyle options, from theatres and galleries to restaurants and shopping centers. Iconic establishments like The Last Bookstore, Grand Central Market, and Pershing Square are just a walk away, offering residents an unparalleled urban experience.

The Mills Act Advantage: A Win-Win for Homeowners and Preservationists

Perhaps the most unique aspect of the Rowan Building is its Mills Act-approved status. This means that the building has been recognized for its historical significance, and homeowners are rewarded with substantial property tax savings, often upwards of 70% compared to standard rates. This not only makes owning a property in the Rowan more affordable but also contributes to the preservation of Los Angeles’ architectural history.

The Mills Act in Los Angeles: A Boon for Historic Preservation and Property Owners

What is the Mills Act?

The Mills Act is a California law enacted in 1972 that provides financial incentives to property owners who actively participate in the restoration and preservation of designated historic properties. Under the Mills Act, local governments can enter into contracts with owners of qualified historic properties, who in return commit to maintaining and improving their property in accordance with specific historic preservation guidelines. These contracts are typically for a period of ten years and are automatically renewed annually.

The Financial Incentive: Property Tax Savings

The most attractive feature of the Mills Act is its provision for substantial property tax reductions, often as high as 50% to 70% compared to regular rates. The tax savings are designed to offset the costs that homeowners may incur when maintaining, repairing, or restoring a historic property. This results in a win-win situation where cities like Los Angeles retain their historic character while property owners benefit financially.

Qualifying for the Mills Act in Los Angeles

In Los Angeles, a property must usually be designated as a Historic-Cultural Monument or be part of a Historic Preservation Overlay Zone (HPOZ) to be eligible for Mills Act benefits. The application process generally involves:

Preliminary Review: Submit an application for preliminary review by the Office of Historic Resources.
Property Inspection: A site visit is conducted to ensure the property meets the standards of historical significance and is in a condition worth preserving.
Contract Proposal: If approved, the homeowner must prepare a Mills Act contract proposal, outlining the planned restoration and maintenance projects.
Approval: The proposal is reviewed by the Cultural Heritage Commission and other governing bodies before final approval by the City Council.
Contract Execution: Once approved, the Mills Act contract is recorded against the property, formalizing the agreement and initiating the tax benefits.
How it Impacts Downtown Los Angeles

Downtown Los Angeles is home to numerous historic buildings that have been preserved through the Mills Act, like the Rowan Building. These buildings add to the area’s cultural, historical, and architectural richness, enhancing its appeal as a residential, commercial, and tourist hub.

Living in a Mills Act-Approved Property: The Perks

Financial Savings: Significant property tax reductions make it more affordable to own a piece of history.
Investment Value: Mills Act properties often have strong resale values due to their historical significance and preserved features.
Preservation: Being a part of a larger movement to preserve the architectural and cultural history of the city is emotionally rewarding.
Community and Culture: Owning a Mills Act-approved property often means living in an area with other historic buildings, contributing to a unique and enriching environment.
Tax Benefits for Heirs: The Mills Act contract is tied to the property, not the owner. This means that the tax benefits can pass on to heirs, making it an attractive long-term investment.

The Mills Act serves as a unique and effective tool for the preservation of historic architecture while offering financial incentives that make such properties attractive to own. In cities like Los Angeles, where the juxtaposition of old and new creates a vibrant urban tapestry, the Mills Act ensures that the past continues to live alongside the future.

For anyone looking to invest in a property with both character and financial advantages, a Mills Act-approved property like the loft at the Rowan Building can offer the best of both worlds.

Note: Before purchasing or applying for a Mills Act contract, it’s advisable to consult with legal and financial professionals to understand all implications fully.

The Rowan Building offers more than just an apartment—it offers a slice of history, a community, and a luxurious lifestyle in the heart of one of the world’s most vibrant cities. Whether you’re an individual looking to immerse yourself in the cultural fabric of Downtown LA or an investor searching for a unique property with tax benefits, the Rowan Building stands as a compelling opportunity.

For a chance to be a part of this historic and modern journey, consider the recently listed Loft #1016. It’s not just a place to live; it’s a place to belong.

460 S Spring St #1016 offers a rare chance to own a piece of Los Angeles history without sacrificing modern luxuries. With its top-notch amenities, stunning views, and tax advantages, this property is more than just a home—it’s an experience, an investment, and a lifestyle all wrapped into one.

If you’ve ever had a dream of embracing the quintessential Downtown LA lifestyle while enjoying historical charm, look no further. Welcome home to the Rowan Lofts.

For more information and to schedule a tour of several lofts in Los Angeles, call Corey Chambers, Broker 213-880-9910. Get a free list of amazing historic Mills Act historic lofts. 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 | Popular | Luxury
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. Photos have been altered for artistic purposes, and are not intended to represent an actual property. For actual property photos, see the listing property details. Properties subject to prior sale or rental. This is not a solicitation if buyer or seller is already under contract with another broker.