Tag: for sale

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Eckardt Building Historic Mills Act Loft in Downtown Los Angeles | Early Offer Viewing Contingency

Character and Charm: Los Angeles is a city of dreams, where modernity blends with history. In the heart of the Fashion District, a unique opportunity presents itself with the listing of a historic loft in the Eckardt Building at 738 S Los Angeles St #206. This loft combines the allure of historical architecture with contemporary amenities and unique opportunities, making it a coveted residence and potential investment in Downtown Los Angeles (DTLA). | PROPERTY DETAILS AND PHOTOS

Historical Significance: The Eckardt Building, approved by the City of L.A. as a historical building, is a testament to Los Angeles’ rich cultural past. Built in 1914, it has witnessed the evolution of the city from its early days to its current status as a global metropolis. While this unit may be somewhat lacking in natural light and views, it features several windows and upgraded lighting. Being a part of the Mills Act, the property offers significant tax benefits, adding to its appeal.

Loft Details:

  • Price: Listed at $499,888
  • Size: 880 Sqft
  • Bedrooms/Bathrooms: 1 Bed / 1 Bath
  • Floor: Located on the second floor
  • Parking: Dedicated covered parking space on Maple St

Interior Features:

  • Design: Contemporary style with an open space floor plan
  • Flooring: Wood flooring throughout
  • Kitchen: In-line stone counter, stainless appliances including dishwasher, stove, microwave, refrigerator
  • Laundry: In-unit washer and dryer
  • Additional: Potential to convert to one bedroom with a constructed wall

Building Amenities:

  • Rooftop Pool & Spa
  • Fitness Gym
  • Half Basketball Court
  • BBQ Area
  • Golf Range
  • 24 Hour Security

Neighborhood and Accessibility:

  • Transportation: Excellent public transit access with around 10 bus lines nearby
  • Walk Score: 9.6, indicating most daily needs can be met within walking distance
  • Community Features: Curbs, Park, Sidewalks, Street Lights

Current Tenancy and Potential Opportunity: The loft is currently tenant-occupied on a month-to-month lease but will be delivered vacant at close of escrow. This situation presents a unique opportunity for buyers. The current tenancy could be seen as a distress property feature, potentially allowing negotiation for a lower price.

Eckardt Lofts Building

Investment Potential: The combination of historical significance, modern amenities, and the bustling location of DTLA makes this loft an attractive investment. The Mills Act tax benefits further enhance its appeal, offering long-term financial incentives.

Character and Property Tax Savings: 738 S Los Angeles St #206 is more than just a property; it’s a piece of Los Angeles’ history. Its combination of past charm and present-day convenience makes it a unique and valuable investment. Whether you’re a history enthusiast, a lover of urban living, or an investor seeking a property with character and property tax savings and extra potential, this loft in the Eckardt Building represents an opportunity not to be missed.

Unlocking Opportunities: Early Offers with Viewing Contingency in California Real Estate

Introduction: In the dynamic California real estate market, savvy buyers and investors are always seeking ways to gain an edge. One strategy gaining traction is placing early offers with a viewing contingency on properties featuring unreachable, incommunicado, or uncooperative tenants. This approach, which works particularly well for buyers and investors with good credit and excellent finances, not only circumvents potential roadblocks but also capitalizes on unique opportunities.

Understanding the Strategy: The core of this strategy lies in making an offer on a property before viewing it, contingent upon later inspection. This is particularly relevant in situations where tenants are not allowing access. By doing so, buyers position themselves favorably, indicating serious interest while still protecting their rights.

The Four-Pronged Contingency Approach: California home buyers typically rely on three standard contingencies: inspection, appraisal, and loan. The viewing contingency adds a fourth layer, specifically addressing the challenges posed by difficult tenant situations.

Eckardt Lofts Building
  1. Inspection Contingency: Ensures the property’s condition meets the buyer’s expectations.
  2. Appraisal Contingency: Protects the buyer in case the property appraises for less than the offer price.
  3. Loan Contingency: Ensures the buyer can secure necessary financing.
  4. Viewing Contingency: Unique to situations with uncooperative tenants, this allows the buyer to view the property post-offer and retract if it doesn’t meet their standards.

Advantages of Early Offers with Viewing Contingency:

  1. Early Bird Advantage: By expressing interest early, buyers may edge out competitors who wait for open access.
  2. Negotiation Leverage: This proactive approach can be appealing to sellers who are struggling with tenant issues, potentially leading to more favorable terms.
  3. Risk Mitigation: The contingency safeguards the buyer, allowing them to back out if the property doesn’t meet expectations upon eventual viewing.

Navigating Tenant Issues: Dealing with uncooperative tenants is a delicate matter in California, where tenant rights are strongly protected. This strategy respects legal boundaries while advancing the interests of potential buyers.

Case Studies and Success Stories: Examples abound of investors who have successfully used this strategy to acquire properties at below-market rates or with favorable terms. These stories highlight the potential for significant returns while also emphasizing the importance of due diligence and legal compliance.

Legal and Ethical Considerations: While this strategy is innovative, it’s crucial to navigate it ethically and legally. Buyers should work with experienced real estate professionals and legal advisors to ensure compliance with California’s real estate laws and tenant rights.

Gain the Advantage: Placing early offers with a viewing contingency is a strategic approach that can unlock unique opportunities in the California real estate market. It allows buyers to navigate around tenant roadblocks, offering a path to potentially lucrative investments. However, it’s essential to approach this strategy with thorough understanding, professional guidance, and respect for legal and ethical standards. In a competitive market like California’s, such innovative tactics can be the key to success for discerning buyers and investors. | REQUEST ADDITIONAL PHOTOS

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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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Glassell Park Homes For Sale and For Lease in Los Angeles

GLASSELL PARK HOMES FOR SALE | FOR LEASE | SOLD | UNLISTED

Urban Access and Suburban Serenity

Nestled in the bustling city of Los Angeles lies the charming neighborhood of Glassell Park, a locale that has steadily risen in popularity among those seeking a blend of urban convenience and suburban tranquility. With its array of homes for sale and for lease, Glassell Park presents a unique opportunity for homebuyers and renters alike.

Glassell Park’s Real Estate: A Diverse Landscape

Glassell Park’s real estate market is as diverse as its population. From the quaint duplexes in the heart of the neighborhood to the spacious single-family homes that dot its hillsides, there is something for everyone. For instance, a duplex on Duvall St offers a glimpse into the potential of income properties in the area, while luxurious single-family homes provide ample space and comfort for those seeking a private oasis.

The Appeal of Glassell Park

The neighborhood’s appeal is multifaceted. Its location is a prime selling point, with easy access to major freeways like the I-5, 110, and 101, making commutes a breeze. Additionally, its proximity to popular spots like Dodger Stadium, Griffith Park Observatory, and Echo Park adds a layer of excitement to everyday living. Glassell Park strikes a perfect balance between accessibility and seclusion.

A Community in Transition

Glassell Park is a community in transition, one that embraces modernity while respecting its historical roots. This is evident in the ongoing renovations and updates seen in many properties. For example, updated units on Andrita St showcase contemporary design and amenities, catering to the needs of today’s urban dwellers.

The Neighborhood’s Lifestyle

The lifestyle in Glassell Park is as varied as its housing options. It’s a neighborhood that caters to families, young professionals, and creatives alike. The area boasts a score of 8.8 for car-friendliness and a moderate pedestrian-friendly score, indicating that while a car might be necessary, there are amenities within walking distance.

Investment Opportunities

For investors, Glassell Park presents a wealth of opportunities. The area’s rising popularity and ongoing developments make it a promising locale for real estate investments. Properties like the 12-unit building on Drew St demonstrate the potential for significant returns on investment, especially with the possibility of adding more units due to favorable zoning regulations.

A Community Rich in Amenities

Glassell Park’s community features are a significant draw. The neighborhood offers urban amenities like trendy restaurants, cafes, and shops, all while maintaining a sense of community. The area’s schools, parks, and family-friendly activities contribute to its appeal as a great place to raise a family.

A Neighborhood of Potential and Promise

Glassell Park is a neighborhood brimming with potential and promise. Whether you’re a first-time homebuyer, a seasoned investor, or someone seeking a vibrant community to call home, Glassell Park offers a unique blend of urban convenience and suburban charm. With its diverse real estate options, excellent location, and community-centric lifestyle, it’s a Los Angeles neighborhood that truly stands out.

Glassell Park: A Vibrant Tapestry of Culture and Community in Los Angeles

Nestled in the heart of Los Angeles, Glassell Park stands as a testament to the city’s dynamic and evolving nature. This neighborhood, often overshadowed by its more famous counterparts, offers a unique blend of urban energy and suburban charm, making it a hidden gem in the sprawling metropolis.

The Cultural Mosaic of Glassell Park

Glassell Park is a melting pot of cultures, evident in its vibrant community and eclectic mix of residents. From artists and musicians to families and young professionals, the neighborhood’s demographic is as diverse as its offerings. This diversity is mirrored in the variety of homes, ranging from quaint bungalows to modern apartments, catering to a broad spectrum of tastes and budgets.

Culinary Delights: The Heartbeat of the Community

One cannot speak of Glassell Park without mentioning its burgeoning culinary scene. A standout in this gastronomic paradise is Bub and Grandma’s, a local bakery and cafe known for its artisanal bread and cozy ambiance. It’s a favorite among locals, epitomizing the community’s love for quality and locally-sourced fare.

Proximity to Iconic Los Angeles Landmarks

Glassell Park’s location is a significant draw for many. Situated close to the Los Angeles River, it offers easy access to the scenic river trails and the unique urban ecosystem developing around this revitalized area. Frog Town, a neighboring community known for its artsy vibe and riverfront developments, is just a stone’s throw away, adding to Glassell Park’s appeal.

Recreational Activities: A Blend of Urban and Natural

The neighborhood strikes a balance between urban living and natural beauty. Nearby, the lush landscapes of Griffith Park provide a perfect escape for hiking, cycling, and outdoor exploration. The proximity to the river also offers unique recreational activities, from kayaking to bird watching, appealing to nature enthusiasts and urban adventurers alike.

Community Spirit and Artistic Flair

Glassell Park is home to a vibrant artistic community, with numerous local galleries, studios, and workshops. The neighborhood pulses with creative energy, evident in its colorful street art, community events, and local markets. This artistic flair adds a layer of charm and character to the neighborhood, drawing in a creative and forward-thinking crowd.

A Neighborhood in Evolution

Glassell Park is a neighborhood in flux, constantly evolving and growing. This evolution is marked by the development of new residential and commercial projects, attracting a wave of new residents and businesses. Despite its growth, the community maintains a strong sense of identity and cohesion, rooted in its rich history and diverse population.

Discover the Unique Real Estate and Lifestyle of a Vibrant Los Angeles Community

Glassell Park is more than just a neighborhood in Los Angeles; it’s a community rich in culture, diversity, and spirit. With its mix of urban convenience and suburban tranquility, coupled with its proximity to natural beauty and vibrant cultural hotspots, it offers a unique living experience in one of the world’s most dynamic cities. Whether it’s the allure of the culinary scene, the artistic vibe, or the friendly community, Glassell Park is a neighborhood that truly encapsulates the essence of Los Angeles living.

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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.