Neighborhoods that were previously cheaper and not attractive but are now improving and appear to have above average growing potential comprise the LA Loft Blog list of Up and Coming Neighborhoods in Los Angeles. These gold mines have attracted new, cool and hip stores, along with public amenities.. #upandcoming #neighborhoods #losangeles
It is debatable if some of these neighborhoods have already peaked. Looking at the home prices, Downtown Los Angeles has already arrived. But when looking at opportunities for improvement, DTLA could still easily be considered up-and-coming because of the opportunities to improve Skid Row and other parts of Downtown. Here are some more upandcoming neighborhoods that have already arrived, followed by neighborhoods that are truly at the infancy of cool:
exciting place on Earth, DTLA has arrived yet exploding. Highland Park – Been up-and-coming for 10 years Glassell Park – Long one of the most asked for neighborhoods near Downtown Eagle Rock – Already arrived, not quite to Silver Lake level Mount Washington – Views of Downtown Mar Vista – Along with Palms, between Culver City and Santa Monica
TRUE UP AND COMING: Frogtown ( Elysian Valley ) – Cool stuff on the LA River! Soon to be on the Already Arrived list! Cypress Park – It’s the new Glassell Park City Terrace – Park views and hills near Downtown L.A. Lincoln Heights – Lofts make it the up and coming new Arts District West Adams – Returning to its glory days, gentrifying awesome Spanish architecture
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Up and Coming LA Neighborhoods and Homes with Character
Nearly all of the readers of the L.A. Loft Blog are looking for either Downtown lofts, urban condos or houses with character in nearby cool neighborhoods or up-and-coming areas nearby. For Downtown, prospective home buyers want modernized historic lofts with high ceilings, large windows and natural light in a fun community walkable to coffee, dining, entertainment and transportation. Others prefer brand new condos with clean, shiny appliances and the latest comforts. Many buyers prefer to live in a real house with real bedroom that have doors that close, private garages, patios and yards and no HOA dues. #downtownla #neighborhoods
Downtown Los Angeles and Hollywood have arrived, and are full of fun and excitement. Silver Lake may be the most renowned up and coming neighborhood. Other up-and-coming exciting, fun neighborhoods are Echo Park, Eagle Rock, Elysian Valley (Frog Town) and Atwater Village. Here’s a list of resources to help find homes for sale, lofts and houses with character:
Now that Downtown LA has experienced several years of rapid price increases, more prospective home buyers are looking outside of Downtown for a more affordable price range. While Downtown still has some bargains for loft lovers (check out the NEW LOFTS Coming Soon), twice as many potential buyers are looking at condos and houses in neighboring communities. Some neighborhoods, such as Lincoln Heights have long been popular loft-loving communities with converted industrial buildings such as Alta Lofts. Silver Lake and Hollywood are on par with Downtown in terms of interesting shops, dining and entertainment. Here is the newly expanded list of neighborhoods and homes for sale in and out of Downtown.
Buying a Real House – Loft Buyers Who Chose Single Family Homes
As prices in Downtown Los Angeles have already surpassed everyone’s expectations, and still continue to grow quickly, the average buyer can no longer afford the typical price in Downtown LA. Over the last month, the lowest price loft in the Arts District was a whopping $850,000 (today there is a steal on a Barker Block loft with plenty of light and view for a mere $629,000). No longer a bargain basement of abandoned industrial buildings adopted by starving artists, Downtown is now a luxury neighborhood, a place of upscale urban vibe that offers real lofts, concrete, brick and authentic Downtown dining and entertainment experiences that you cannot find in West L.A.
With the $600,000s being the new floor price for Arts District lofts, more buyers in the $250,000 to $500,000 range are now looking at neighborhoods outside of Downtown for the right price on cool condos in fun neighborhoods. When a prospective Downtown loft buyer ends up purchasing in a different neighborhood, they often still continue to aspire to eventually buy in Downtown. For those who cannot buy a Downtown dream loft today, buying a nearby condo or house is a stepping stone to allow the amazing dream loft to come true in the future. Buying in another great neighborhood protects the buyer from home price inflation. By owning another great home, the prospective loft buyer benefits from the higher prices, while most renters fall further behind the price curve.
Eager to get a better deal, they purchased homes located in the neighborhoods roughly between Downtown Los Angeles and Hollywood. They mostly chose houses with open concept kitchen-dining-living rooms, yet having traditional bedrooms with doors. Here’s what they have been buying instead when they did end up buying a Downtown lofts that they originally looked at: –
Pico-Union Neighborhood Adjacent to Downtown Los Angeles
Melrose Hill, East Hollywood Neighborhood – Five Minutes to Fun Hollywood Nightspots
Hancock Park Condo
Glassell Park 3-Story House with Views of Griffith Park
Get more single family homes and condo alternatives to Downtown lofts in fun nearby neighborhoods. Fill out my Online Form.
Thank you for being part of the celebration of our 500th post on the LA Loft Blog! As a reward for being part of this milestone, you are about to receive some powerful real estate information that will help you easily beat the intense competition for Downtown real estate, and this article will give you the top 3 secrets for buying, selling and leasing Downtown lofts and condos.
Because our team started off helping renters nearly 15 years ago, I’d like to start by giving some valuable information for renters, including how to access up to three times as many amazing lofts and save hundreds of dollars a month. We will then tell buyers how to find twice as many lofts while saving thousands of dollars guaranteed, and then we will end this special post by telling Downtown sellers about a guaranteed home sale program for lofts and condos that gets sellers on average 2.2% more money 44% faster with less hassle for the seller.
For prospective renters, Downtown is a medium size neighborhood that is like a glazed donut. The outer edges is where new residents like to live, while the hole in the middle is Skid Row, where most loft renters usually try to avoid.
About 1/3 of the rental listings in Downtown Los Angeles are agent listings that are on the MLS, while the other 2/3 are managed communities that do not generally cooperate with agents. There is a way to get access to all 3/3 of the the rentals. That is with the paid 3-hour tour. What a lot of people do not know is that they can get help from a Downtown specialist Realtor to help ensure that they do not miss any of the unlisted loft rental bargains, save hundreds or even thousands of dollars, and if they are not satisfied with the paid tour, they can get their money back. When you do the math, the it makes sense to get access to the most rental listings and unlisted rentals to make sure you don’t miss out on the best deal.
Home buyers in Downtown can get a big edge over other buyers and save thousands of dollars by gaining priority access to proprietary information at no cost. This is done by taking part in the free home-hunter service called the VIP Buyer Program. This program allows buyers to get all of the listings from all real estate companies delivered into the buyer’s email daily as soon as the properties are listed. It also includes the largest number of unlisted properties or pocket listings, off-market properties that the general public does not access to because up to 45% of the best deals are are not on the MLS, not on the internet, and most agents and brokers do not have access to these pocket listings.
Two issues that Downtown buyers need to be aware of before seeing properties are the loft lending issues and the many lawsuits around Downtown lofts and condominiums. More than half of the properties for sale in Downtown are industrial or commercial loft conversions that are special exemptions created by the Los Angeles Adaptive Reuse Ordinance. Most residential lenders are not knowledgeable about lofts and have a delay, rate hike or complete failure of loft purchase transactions. The most common home buying disaster in Downtown is caused by this loft lending failure. A loft lender is usually required to ensure the success of a loft purchase transaction.
Another major issue with Downtown lofts and condos is caused by lawsuits and litigation. More than 20% of the listings that you see today involve properties that are currently were recently involved with a lawsuit. Because of this, an Downtown attorney or Downtown specialist Realtor should be consulted before seeing any properties so that the buyer is properly informed of the litigation and other issues surrounding the building and its homeowners association.
Sellers can get the most money for their property by using a service that attracts the largest number of buyers, and can generate an extra $10,000 or more by pre-marketing the property to VIP buyers before even putting he property on the MLS. This can generate a queue of buyers early that will help to ensure that there are multiple offers or even an exciting bidding war that drives up the price to its maximum level. While many agents are still arguing over whether or not to do a pocket listing, the top agents in Downtown will help sellers reach all buyers, and increase the chance of a quick sale by doing a unique combination of pocket listing and MLS listing to capture the best of both market types. Downtown homeowners can get the most accurate value of their home with a free online home evaluation.
>> MORE — Sign up to receive a free report with all of the details on these three Downtown real estate programs with LA Loft Blog’s Top Secrets for Renters, Buyers and Sellers. Fill out the online form:
215 S SANTA FE AVE #6 Los Angeles, CALIFORNIA 90012
Historic Loft in the heart of the Arts District. High Ceilings. Lots of Windows and Light. A Huge Expanse of Space. Room to make 2-3 more Bedroom Areas. Wood Floor. Large Commercial-style Kitchen. In-unit Washer/Dryer. Parking for Two Cars. Walk to dozens of Shops and Restaurants in the Arts District and Little Tokyo. About 4 blocks to the Metrolink Arts District/Little Tokyo Station. Please give us 48 hours Notice to Show. Across from One Santa Fe complex.
A resident of Alta lofts recently ran into some kids rehearsing in the park while walking his dog. The youths told the local resident about a free performance art community event that’s coming up there in the new Ed Reyes Greenway Park.
All information provided by the listing agent/broker, is presumed reliable but is not guaranteed, and should be independently verified. The information provided in this report is provided for personal use only and may not be copied or distributed.