In Downtown's Arts District, Cash is King as Average Loft Price Approaches $1 Million

Twenty years ago, it was all but abandoned. Only a small band of die-hard artists embraced the area. Now, the Downtown district is on top of the world. According to MLS statistics, the average Arts District loft Recently Sold Price has now surpassed $945,000.

Arts District  |  For Sale  |  For Lease

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Because some of the recently sold comparable loft units in the area were comparatively dark and unattractive, the buyers of today’s brighter, prettier active listings in the creative neighborhood might pay as much as $100,000 above the comps. Because of the big difference in price between the comparable recently sold lofts and the lofts currently for sale, those who need to finance may risk losing out to cash buyers because because lenders are not usually willing to fully fund new loans that are $100,000 above the selling price of recently sold comparable properties in the same building or right across the street.  Cash buyers don’t have that problem because they don’t need an appraisal, and are often willing waive the appraisal contingency, saving the seller from worrying about an appraiser nixing the deal.

Home prices are a growing issue. Knowing what urban real estate recently sold is critical for both buyer and seller to know what to expect as a selling price, and also giving a clue as to what kind of terms might be acceptable. Take a look at the list of recently sold Arts District lofts PDF at arts-district-recently-sold.

Arts District  |  For Sale  |  For Lease

The real estate news this week shows that buyers are getting tired of seeing hundreds of lofts that may or may not match what they are looking for, and risking missing out on just the right loft.  How many great deals on amazing Arts District lofts are we missing?  Get a free list of unlisted lofts, off-market condos and unadvertised apartment bargains in DTLA. Fill out the online form:

LOFT & CONDO LISTINGS DOWNTOWN L.A.  [MAP]

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SEARCH LOFTS FOR SALE UNDER $400,000  |  $800,000,  |   $30,000,000
Browse by Building  |  Neighborhood  |  Size  |  Bedrooms  |  Pets  |  Parking  |  More

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Copyright © 2016 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, seller 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.

Open House Downtown Los Angeles Lofts and Condos Starting with Bunker Hill Loft #dtla #openhouse

OPEN HOUSE SATURDAY  —  Here is today’s open house schedule for Downtown Los Angeles lofts and condos, starting with the largest condo units. The chic, urban excitement of Downtown L.A. lofts combined with the serenity and luxury of the Bunker Hill Tower high-rise. There is only one Bunker Hill Loft with supreme Downtown panoramic views and just steps to world-class dining, entertainment and Metro station. Come to the open house today 11:00 AM to 1:00 PM to see the best 2 bedroom, 3 bathroom condominium unit in Los Angeles.

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800 W 1st Street #2305 Open House Saturday 6/25/16 at 11:00 AM to 1:00
PM. For assistance, call Corey Chambers (213) 880-9910.

Openhouse: Yes Openhouse Type: New Openhouse Date: 6/25/2016 to 6/26/2016 Status: Active Areas: (23) Metropolitan — (42) Downtown L  PROPERTY DETAILS

LOFT & CONDO LISTINGS DOWNTOWN L.A.  [MAP]

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SEARCH LOFTS FOR SALE UNDER $400,000  |  $800,000,  |   $30,000,000
Browse by Building  |  Neighborhood  |  Size  |  Bedrooms  |  Pets  |  Parking  |  More

800-w-1st-st-2305-025_web copy16-132524

42 A

800 W 1ST ST #2305

2305

LOS ANGELES 2

3.00 (3 0 0 0) 2440

$655.74

$1,600,000

106162

$2,447.0 0

1968 Yes

22 /

2

open-house-downtown-la-160625-j16-134312

42 A

330 W 11th AVE #A602

A602

LOS ANGELES 2

2.00 (2 0 0 0) 1740

$528.74

$920,000

18467 $408.26

2005 No

10 /

3

16-134560

42 A

330 W 11th AVE #A104

A104

LOS ANGELES 2

2.00 (2 0 0 0) 1610

$530.43

$854,000

18467 $392.65

1923 No

3 /

4

16-122684

42 A

416 S SPRING ST #609

609

LOS ANGELES 2

2.00 (2 0 0 0) 1394

$685.08

$955,000  $975,000

10334 $563.05

1914 No

50 /

5

16-137604

42 A

416 S SPRING ST #1009

1009

LOS ANGELES 2

2.00 (2 0 0 0) 1300

$750.00

10334 $563.05

1914 No

4 /

6

16-135280

42 A

1234 WILSHIRE #502

502

LOS ANGELES 2

2.00 (2 0 0 0) 1140

$592.11

$675,000 

71332 $402.00

2006 Yes

10 /

7

16-134306

42 A

120 S HEWITT ST #11

11

LOS ANGELES 1

1.00 (1 0 0 0) 1063

$657.57

$699,000

14562 $351.00

1948 No

8 /

8

16-136506

42 A

500 MOLINO ST #302

302

LOS ANGELES 1

1.00 (1 0 0 0) 1060

$641.51

$680,000

83042 $390.00

1923 Yes

5 /

9

16-138048

42 A

655 S HOPE ST #808

808

LOS ANGELES 1

1.00 (1 0 0 0) 900

$583.33

$525,000

11674 $790.00

1964 No

1 /

10

316004245I T

42 A

460 S SPRING ST #717

717

Los Angeles 1

1.00 (1 0 0 0) 830

$734.94

$610,000 

30787 $485.00

1912 No

41 480/C5

11

16-136800

42 A

1100 WILSHIRE #3303

3303

LOS ANGELES 1

1.00 (1 0 0 0) 760

$1,025.00

$779,000

27098 $750.00

1986 Yes 4/

12

open-house-downtown-la-160625-j16-137524

42 A

323

LOS ANGELES 1

1.00 (1 0 0 0) 715

$459.86

43252 $287.58

1971 Yes 3/

421 S LA FAYETTE PARK PL #323

Your Home Sold GUARANTEED or I’ll Buy It*

Corey Chambers, Realtor® – CoreyChambers.com 1-888-381-5588 – corey@coreychambers.com

$328,800 

open-house-downtown-la-160625-j>> MORE

PROPERTY DETAILS (PDF)

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bunker-hill-loft-int-cu-concrete-views

Copyright © 2016 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, seller 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.