Cracks and Opportunities in Downtown Los Angeles Housing Market

What’s happening in Downtown Los Angeles real estate?  #dtla

Oceanwide Plaza Under Water?
Oceanwide Plaza Underwater? Construction cranes collect dust.

What are People Thinking and Doing?   Are builders going bust? Loft and condo buyers, sellers, landlords and renters – Here’s what are they are really up to.  Historic lofts with property tax benefits continue to dominate Downtown L.A. real estate.  Renters are the most active in numbers looking for a place in DTLA.  Live-work industrial condos are all the rage as would-be urbanites learn how to distinguish a small loft from a studio apartment.  Alta lofts meets many a budget as two large lofts come up for sale, including the lowest price on a sprawling 1,700 sq ft 2-story unit.

The biggest news is the mixed real estate market.  The median condo price is down 1.65% while the average loft price is actually higher.  Oceanwide Plaza appears to be stalled while most other projects are making great progress.

OCEANWIDE PLAZA NEWS

As we observed the Oceanwide Plaza construction sight today, we could see no construction workers on the property. Also, the cranes were not moving at all from what we could observe.  In February, the L.A. Loft Blog reported that the mega-project was stalled, but the developer promised to have construction ramped up and running again within weeks.  Five months later, we don’t see any progress.  On what should be a productive Friday morning at 10:00 AM, we see nothing… not a single bit of activity at the site.  This while neighboring projects proceed at a brisk page.  Oceanwide’s expensive cranes sit idle while others in the area can be seen moving right along.  A block away, 1133 S Hope St cranes are at work, wizzing and whirring.

While the U.S. property market shows a mixtures of booming and tapering, the Chinese economy is sputtering dramatically, succumbing to a dangerous level of downward pressure.  After six months dominated by stagnation, the massive Oceanwide Plaza project might be presenting a rather sizable worry for DTLA real estate. The most likely culprit is China’s poorly covered-up economic doldrums leaking into Oceanwide.  A recent scarcity in funds available to Chinese companies behind the project may be worsening as China’s overall economy could be presenting an ocean of anxiety for the developer and backers of the tremendous Plaza project.

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Downtown Los Angeles construction hums along for most projects in South Park

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.

 

Alta Lofts 2-Story Live/Work Industrial Style 1,700 Sq Ft 2 Bath For Sale Tour Video

200 N San Fernando Road, #115, Los Angeles, CA 90031  #ALTA #LOFTS

L.A. Loft Blog exclusive opportunity to own a stylish 1,700 sq ft Alta loft 2-level with mezzanine bedroom and giant warehouse-style windowed door.

Alta Live/Work 2-Story 1,700 2 Bath Los Angeles
Alta Live/Work 2-Story 1,700 2 Bath Los Angeles

One of the most sought-after and hard-to-find loft condominiums in Los Angeles.  Asking $645,000.  Request viewing 213-880-9910.

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Lots of open space, soaring 17 ft high ceiling and big, bright wall of windows with tremendous natural light. West facing Elysian Park view. This awesome loft features polished concrete floors and column pillars, granite counter tops, stainless steel appliances, large bathrooms with tile floor, stainless steel sink, laundry closet washer and dryer in unit, central air conditioning and forced air heat, large walk-in closet. Gated covered parking space. Very rare opportunity to own such a large L.A. loft in this price range.  |  TOUR VIDEO

Building amenities include social party room, fitness center, BBQ, courtyard lounge area, gated guest parking. Pet friendly. Evening security guard patrol. Walk to shopping, restaurants, Metro, Elysian Park, Los Angeles River Bike Path, Frog Town Art Walk, Recreation Center Swimming Pool, Los Angeles State Historic Park. Convenient to Downtown, China Town and Elysian Park in Lincoln Heights near Brewery Lofts, Lacy Lofts, Telephone Company Lofts. Call Corey Chambers 213-880-9910.

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LOFT & CONDO LISTINGS DOWNTOWN LA  [MAP]

Lofts For Sale                Map Homes For Sale Los Angeles

SEARCH LOFTS FOR SALE UNDER $500,000  |  $900,000  |   Top Luxury
Browse by Building  |  Neighborhood  |  Size  |  Bedrooms  |  Pets  |  Parking

Alta Lofts 2-Story 1,700 Sq Ft Live/Work Loft For Sale

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.