Downtown Los Angeles Real Estate Market Update: Recently Sold Lofts and Condos in DTLA

A Shimmering Beacon of Modern Luxury – EVO Lofts, Unit #412

The luxury highrise at 1155 S Grand Ave #412, Los Angeles, is a marvel of newer architecture. Tucked within the South Park neighborhood of downtown Los Angeles, the EVO Lofts building radiates the city’s vibrant spirit, underpinned by an aura of opulence and sophistication. As an eco-conscious addition to the cityscape, EVO Lofts presents a seamless blend of comfort, style, and sustainability.

EVO LOFTS FOR SALE   |   FOR LEASE   |   UNLISTED   |   SOLD

Upon entering the 1,450 sqft, two-bedroom soft loft, one is instantly captivated by the city views atop the wide-plank oak floors that elegantly stretch across the expansive open-concept layout. The unit is bathed in an abundance of natural light, pouring in through the floor-to-ceiling windows. The unit provides an unparalleled, panoramic vista of the city’s thriving urban heart, with the iconic Staples Center/Crypto Arena serving as an enticing focal point. The large, private balcony stretches the length of the unit, inviting residents to indulge in the spectacle of the city’s vibrant cityscape, bathed in an array of colors from the breathtaking California sunsets. At night, the glittering city lights and star-studded sky create a mesmerizing tableau, reinforcing the unit’s status as a VIP front-row seat to the dynamic spectacle that is DTLA. The view from this luxury loft is more than just a sight; it’s an ever-changing canvas that captures the dynamic spirit of Los Angeles.

The modern kitchen is a gastronome’s delight, outfitted with state-of-the-art Bosch stainless steel appliances, rich wood cabinetry in teak, and CaesarStone slab countertops. This area is beautifully complemented by a custom-built designer bar, making the space perfect for both intimate dinner parties and large gatherings.

The two bedrooms deliver the promise of serene retreats, each offering privacy and space in equal measure. The primary bedroom is a particular highlight, featuring expansive westerly views, multiple closets, and an en-suite bathroom equipped with a dual vanity plus a separate tub and shower.

Adding to the loft’s appeal is its sizable balcony/terrace that offers a rare opportunity to enjoy alfresco living against the backdrop of the city’s stunning skyline and unforgettable sunsets. The unit also boasts a generously-sized laundry/utility room, offering ample storage space.

EVO Lofts provides a wealth of amenities, including a resort-style pool, spa, fitness center, and BBQ grills, among others. The rooftop lounge is a notable perk, presenting awe-inspiring views of the skyline and mountains.

The building offers the added convenience of its location, placing residents within walking distance of LA Live, the Crypto.com Arena, and the LA Convention Center. Renowned for its eclectic mix of world-class restaurants and pulsating nightlife, DTLA is at your doorstep.

The building’s management deserves mention for their exceptional service, offering 24-hour front desk support, concierge service, and security.

The added commitment to sustainability makes EVO Lofts an attractive option for the eco-conscious buyer. As a LEED Silver certified highrise, the building stands as a testament to the fusion of luxury and environmental responsibility.

In conclusion, unit #412 at 1155 S Grand Ave isn’t just a property; it’s a lifestyle. A perfect choice for anyone seeking the bustling energy of downtown living coupled with the comforts of a modern, luxury highrise.

One thing is certain, whoever acquired this unit didn’t just buy a property, they’ve secured a piece of the vibrant and pulsating heart of Los Angeles. To see today’s market, here’s a list of the most recently transacted properties this week, based on the recent sales data in Downtown Los Angeles (DTLA): | DETAILS AND PHOTOS

  1. A 2 bed, 2 bath unit of 1,084 square feet at TEN50 condo building 1050 S Grand Ave #2004 listed for $1,150,000, which was higher than the sold price of $990,000. The unit was built in 2017 and has homeowner association (HOA) fees of $980. The property was listed for 316 days before it sold.
  2. Another 2 bed, 2 bath unit of 1,450 square feet at Evo 1155 S Grand Ave #412 was sold at its listed price of $835,000. The unit was built in 2008 and has HOA fees of $975.22. This property was listed for just 13 days before it sold, showing a quick turnaround in the market.
  3. At Flower Street Lofts 1130 S Flower St #119, a 2 bed, 2 bath unit of 1,432 square feet was sold for $685,000, lower than its listed price of $729,000. The unit was built in 2003 and does not list HOA fees. The property was on the market for 146 days.
  4. Another unit at 1130 S Flower St, this time #206, which is a 2 bed, 2 bath unit of 1,260 square feet was sold for $600,000, also lower than its listed price of $649,000. This property was also built in 2003 and does not list HOA fees. It was listed for 116 days before selling.
  5. A 1 bed, 1 bath unit of 860 square feet at 1155 S Grand Ave #1214 was sold for $570,000, slightly lower than its listing price of $595,000. The unit was built in 2008 and has HOA fees of $922. The property was on the market for 133 days before it sold.
  6. A 2 bed, 2 bath unit of 1,050 square feet at 222 S Central Ave #441 was sold for $557,000, much higher than its listed price of $299,000. The unit was built in 1985 and has HOA fees of $513. This property sold quickly, within just 33 days of listing.
  7. Lastly, a 1 bed, 1 bath unit of 715 square feet at 421 S La Fayette Park Pl #429 was sold for $405,000, a bit higher than its listed price of $399,500. The unit was built way back in 1971 and has HOA fees of $417. It was on the market for 20 days before it sold.

This data gives a clear picture of the current market conditions in DTLA and can be useful for potential buyers or sellers to make informed decisions. | LIST DETAILS

HOW MUCH IS YOUR LOFT WORTH?

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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.

The Downtown Los Angeles Real Estate Market Analysis: June 2023 vs June 2022

REAL ESTATE NEWS (Los Angeles) — Downtown L.A. (DTLA) and its surrounding areas have continued to serve as vibrant hubs for the city’s real estate market. In this blog post, we take a closer look at the dynamics of loft sales in Downtown LA and nearby loft neighborhoods for the month of June 2023 compared to the same period last year, based on MLS data for areas 23, 42, and 1375. Home prices are down and market activity is down.

Volume of Sales

Starting off with the total number of lofts sold, the June 2023 data shows a decrease in sales volume compared to June 2022. This past month, the DTLA loft market saw 34 sales, down from the 64 sales recorded in the same month last year. While such shifts can be influenced by multiple factors, this decline suggests a tightening of the market.

Sales Price (SP) and List Price (LP)

When considering the selling prices, we can observe an interesting trend. In June 2023, the lowest recorded sale price was $280,000, with the highest reaching $1,700,000. The average selling price (SP) was recorded as $688,103. In comparison, June 2022 showed a larger price range with the lowest sale price at $250,000, and the highest soaring up to $3,200,000. Interestingly, the average SP last year was significantly higher at $779,021.

On the other hand, when we look at the List Price (LP), in June 2023 the range was between $285,000 and $1,890,000, with an average LP of $715,485. This contrasts with June 2022 when the LP ranged from $229,000 to $3,375,000, with an average LP of $783,066.

Square Footage and Price Per Square Foot

Focusing on the average price per square foot, June 2023 recorded an average price of $669.30/sq ft., slightly lower than the $739.27/sq ft. of June 2022. The average square footage remained roughly the same, with 1,025 sq ft. in June 2023 compared to 1,055 sq ft. the previous year.

DOM and Average % of List Price Received on Solds Statistics

It’s also noteworthy to look at the Days on Market (DOM) and the average % of List Price received on sold properties. The majority of properties sold in June 2023 were on the market for 0-30 days (50%) and fetched 97.17% of their listing price. Meanwhile, in June 2022, a whopping 71.88% of properties sold within 0-30 days, garnering 100.45% of their listing price, indicating a hotter market in 2022 compared to 2023.

Total Sales Volume

Lastly, it’s worth mentioning the total sales volume. In June 2023, this figure was approximately $23,395,512, down from a much higher volume of $49,857,388 recorded in June 2022. This decrease correlates with the reduction in the number of lofts sold, indicating less market activity this year.

In conclusion, the Downtown Los Angeles loft market in June 2023 showed signs of slowing down compared to the same period last year. The decrease in sales, lower selling prices, and a reduced percentage of the list price received all suggest a cooling of the market. The real estate market in the area has been down for more than 6 months. Whether this shift continues or the market rebounds will undoubtedly be something to keep an eye on in the upcoming months.

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SEARCH LOFTS FOR SALE Affordable | PopularLuxury
Browse by   Building   |   Neighborhood   |   Size   |   Bedrooms   |   Pets   |   Parking

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.