Downtown LA Open House Lofts and Condos For Sale #dtla #openhouse

Taking a look at some open house lofts and condos is a great way to get a real feel for what is happening in the Downtown Los Angeles real estate market.

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Below is a link to the DTLA area open houses with a map so LA Loft Blog readers can easily visit the properties for sale open-house-map-dtla-161014 (pdf).

Find an historic loft and save money on property taxes with a Mills Act approved property.  Get a free list of Mills Act Downtown properties in your email. Fill out the online form:

LOFT & CONDO LISTINGS DOWNTOWN LA  [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

1 A 42 849 S BROADWAY #505
90014 $629,000 1 1 890 22,842 1930 10/7/2016 10/7/2016 10/16/2016 (2:00PM-
5:00PM) : Review (P)
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2 A 42 1850 INDUSTRIAL ST #113
90021 $750,000 1 1 1,020 31,626 1925 9/6/2016 9/6/2016 10/16/2016 (1:00PM-
4:00PM) : Review (P)
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3 A 42 1155 S GRAND AVE #1807 90015 $849,000 1 2 1,390 52,756 2008 4/8/2016 4/8/2016 11/04/2016 (2:00PM-
5:00PM) : New (B)
16-113272 CC
4 A 42 1100 S HOPE ST #1209 90015 $715,000 1 1 1,080 41,205 2007 10/5/2016 10/5/2016 10/16/2016 (2:00PM-
5:00PM) : Review (P)
16-166782 CC
5 A 42 1111 Grand AVE #805 90015 $614,777 1 1 1,050 52,756 2008 10/5/2016 10/5/2016 10/16/2016 (11:00AM-
3:00PM) : Review (P)
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6 A 42 1100 Grand AVE #A104 90015 $800,000 2 2 1,400 18,467 1923 10/6/2016 10/6/2016 10/15/2016 (11:00AM-
1:00PM) : Review (P)
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7 A 23 500 MOLINO ST #117 90013 $729,000 0 1 1,470 83,042 1923 6/3/2016 6/3/2016 10/15/2016 (1:00AM-
4:00PM) : Review (P)
16-131630 CC
8 A 42 849 S BROADWAY #305
90014 $629,000 0 1 890 22,844 1930 8/2/2016 8/2/2016 10/16/2016 (2:00PM-
4:00PM) : Review (P)
16-149682 CC
9 A 42 645 W 9TH ST #526 90015 $660,000 1 1 1,023 74,720 2006 8/9/2016 8/9/2016 10/16/2016 (2:00PM-
4:00PM) : Review (P)
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10 A 42 1155 S GRAND AVE #1901 90015 $1,999,999 2 3 2,370 52,756 2008 10/7/2016 10/7/2016 10/16/2016 (1:00PM-
5:00PM) : New (P)
16-169598 CC
11 A 42 108 W 2ND ST #705 90012 $400,000 1 1 650 19,153 1910 10/9/2016 10/9/2016 10/18/2016 (11:30AM-
1:30PM) : Review (P)
16-169904 CC
12 A 42 940 E 2ND ST #38 90012 $1,795,000 2 3 2,340 43,803 1906 10/11/2016 10/11/2016 10/16/2016 (2:00PM-
5:00PM) : New (P)
16-170338 CC
13 A 42 1111 S GRAND AVE #1009 90015 $1,195,000 2 2 1,620 38,727 2005 10/13/2016 10/13/2016 10/16/2016 (2:00PM-
5:00PM) : New (P)
16-171014 CC
14 A 42 746 Los Angeles ST #101 90014 $369,800 0 1 580 38,308 1922 10/8/2016 10/8/2016 10/14/2016
(12:00PM-2:00PM) :
Review (P)
WS16720236MR CC
15 A 42 1100 S HOPE ST #1503 90015 $660,000 1 1 860 41,205 2007 10/3/2016 10/3/2016 10/16/2016 (2:00PM-
5:00PM) : Review (P)
16-167904 CC
16 A 42 1100 WILSHIRE #2206 90017 $949,000 2 2 1,340 27,098 1986 10/11/2016 10/11/2016 10/15/2016 (2:00PM-
4:00PM) : New (P)
16-168516 CC
17 A 42 1155 Grand AVE #1103 90015 $749,000 1 2 1,120 52,756 2008 10/7/2016 10/7/2016 10/16/2016 (1:00PM-
4:00PM) : Review (P)
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COMPLETE LIST   |   MILLS ACT

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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 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.

No More Historic Lofts: Why Developers Won’t Convert Any More For Sale in Downtown LA

The loft conversion boom reads like an obituary:  #LA #Historic

Downtown Los Angeles — Loft boom (2003 to 2013), died three years ago at the age of 10. The large number of conversions was part of the transformation and renaissance of Downtown Los Angeles from a place of blight to a prosperous, rapidly growing area of urban renewal, attracting the middle class and wealthy to return to the Downtown area. The loft conversion boom died at the end of 2013 after the birth of its last child, Barker Block Warehouse One

From 2003 to 2013, many old LA buildings were converted to live/work lofts under the City of Los Angeles Adaptive Re-use Ordinance.  Since then, one developer attempted to go condo with an already converted loft rental historic building called The Title Guarantee Building by Pershing Square. The loft condominium sale was abruptly called off just hours before Downtown agents were schedule to meet for its launch briefing. The Downtown specialist agents and brokers were bummed because selling conversions accounts for up to half of their incomes.  While the developer would not provide a reason for the sale cancellation, the rationale is clear… like other loft conversions before it, the developer planned to sell the units as condos, but later crunched the numbers and realized that the long-term big money is in renting out the units, not selling them.  Title Guarantee was not alone in being built for sale but then never selling; Chapman Flats, The Brockman and others were designed to be condos, and may still go condo when the time is right.

As Downtown rents skyrocket, increasing on average more than $400 per month in less than 3 years, landlords and rental building owners have profited handsomely.  With now more than 500,000 jobs, Downtown LA is a boomtown of employment and rentals. Of course, most DTLA condo owners are doing well, sitting pretty on loads of equity, and able to lease out their units at higher-than-expected rent amounts.  Many new apartments are being built recently, as well as a few new high-rise condo buildings such as Metropolis and Ten50. As renters continue to flood into Downtown, the rental boom is expected to continue for many years, while those who prefer to own a historic loft are left with a very dwindling inventory and pricey choices. Many Downtown home buyers now end up buying homes outside of Downtown, such as the new homes on the LA River.

The death of the conversion boom is not necessarily all bad.  The lack of new conversions creates scarcity and higher prices, thus leads to more value and equity for those who own a historic Downtown loft.

Mills Act historic lofts can offer potentially very big property tax savings. Which historic loft buildings are most likely to go condo next? Get on the New Lofts Interest List.  Fill out my online form:

 

LOFT & CONDO LISTINGS DOWNTOWN LA [MAP]

  Lofts For Sale     Map Homes For Sale Los Angeles

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

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Your Home Sold GUARANTEED or I’ll Buy It*

Corey Chambers, REALTOR®
(213) 880-9910
coreychambers@yahoo.com
http://www.laloftblog.com/

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Copyright © This free information provided courtesy L.A. Loft Blog and LAcondoInfo.com with information provided by Corey Chambers, Realty Source Inc, BRE#01889449  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.

Based on information from the Association of REALTORS®/Multiple Listing as of [date the AOR/MLS data was obtained] and /or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

*seller and Corey must agree on price and time of possession – details and conditions visit coreychambers.com