live/work – Page 6 – LA Loft Blog

REAL ESTATE NEWS (Los Angeles, CA) — The idea of a loft often conjures up images of rustic brick walls, industrial aesthetics, large windows, and open floor plans that exude a distinctive urban charm. Now, imagine not only residing in such a creative space but also running your business from it. The concept of live/work lofts has been gaining popularity amongst modern-day entrepreneurs, remote workers, and artistic souls seeking a harmonious blend of their professional and personal lives. But, have you ever considered the potential of investing in a live/work loft using a 1031 exchange?

A 1031 exchange, based on Section 1031 of the Internal Revenue Code, allows you to sell an investment property and reinvest the profits in a “like-kind” property, effectively deferring capital gains taxes. This process can significantly enhance your real estate portfolio, encouraging long-term wealth accumulation.

So, let’s embark on an enlightening journey to explore how you can infuse creativity, convenience, and tax efficiency into your real estate investing strategy by purchasing a live/work loft using a 1031 exchange.

Step 1: Recognize the Potential of a Live/Work Loft

Live/work lofts offer the perfect balance between residential comfort and commercial functionality. Investing in such a space allows you to tap into the growing trend of remote working while benefiting from the favorable tax advantages of real estate investing. With more people shifting towards the flexibility of working from home, live/work lofts are becoming a sought-after commodity in the real estate market.

Step 2: Understand the 1031 Exchange Timeline

The 1031 exchange follows a stringent timeline comprising two critical deadlines: the 45-day identification period and the 180-day completion rule. Within 45 days of selling your initial property, you must identify potential like-kind properties. Then, within 180 days of the initial sale, you must close the purchase of your replacement property.

Remember, buying a live/work loft as your replacement property must align with the “like-kind” stipulation in a 1031 exchange. “Like-kind” refers to the nature or character of the property rather than its grade or quality. Therefore, any form of real estate investment can potentially be replaced with any other form of real estate investment – residential, commercial, land, and even live/work lofts.

Step 3: Conduct Thorough Due Diligence

Buying a live/work loft as a 1031 exchange involves more than just adhering to a timeline. The property itself must also meet specific requirements. Understand the zoning regulations of the area, the allowed commercial activities, the homeowners association rules, if any, and ensure the property is suited to your professional needs.

Step 4: Collaborate with Qualified Professionals

The complexity of a 1031 exchange calls for the expertise of experienced professionals. A qualified intermediary plays an essential role in navigating the transaction process. A reliable real estate agent with experience in live/work lofts can help identify the right properties, while a tax advisor and a real estate attorney can guide you through the legal and tax intricacies. For example, some of the most amazing lofts in Downtown Los Angeles provide even more tax savings with a Mills Act historic property designation.

Step 5: Revel in the Benefits

By investing in a live/work loft via a 1031 exchange, you’re not only deferring capital gains taxes but also embracing an efficient, modern lifestyle that blends your work and living environment seamlessly. The benefits of portfolio diversification, potential rental income, a reduction in commuting expenses, and the joy of living and working in a personalized space could be rewarding experiences.

The concept of a live/work loft is a testimony to the evolution of real estate to meet changing lifestyle needs. Coupling this modern living style with a tax-efficient investing strategy like the 1031 exchange

Get a free list of luxury, upscale live/work lofts for sale. Fill out the online form:

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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 314 FOR LEASE | UNLISTED | VIDEOS

DTLA Apartments on 6th Street — NEW! 314 W 6th St and 601 S Broadway, Los Angeles, CA 90014

Discover a New Level of Luxury Living at The 314 in Downtown Los Angeles

Welcome to The 314, a collection of 50 newly renovated luxury apartments, located in the heart of Downtown Los Angeles’ Historic Core and Jewelry District. This stunning, six-story brick and concrete structure built in 1906 by architects Parkinson & Bergstrom has been transformed from a retail space into an upscale living community in collaboration with renowned design firm Omgivning. The 314 is the epitome of downtown luxury living, offering modern, spacious units with high-quality appliances and stylish updates.

An Ideal Location

The 314 boasts an enviable location, situated within walking distance to a variety of attractions, restaurants, and shops. Within minutes, you can stroll to the Grand Central Market, the Apple Store, Angel’s Flight Railway, The Last Bookstore, Whole Foods, Los Angeles Athletic Club, and Perch. This central location offers unparalleled access to the best of Downtown Los Angeles, including vibrant nightlife, top dining experiences, and local attractions.

Amenities That Exceed Expectations

Each of the 50 renovated luxury units within The 314 comes with a host of high-end amenities, such as high-speed internet access, Wi-Fi, washer and dryer, air conditioning, heating, and a security system. Cable and satellite TV are also available, as well as features like double vanities, tubs and showers, handrails, intercoms, and a sprinkler system. The building is smoke-free, ensuring a clean and healthy living environment for all residents.

Gourmet Kitchens Fit for a Chef

Kitchens at The 314 are designed with the modern home chef in mind, featuring stainless steel appliances, granite countertops, and a pantry. Enjoy the convenience of a dishwasher, disposal, ice maker, microwave, oven, range, refrigerator, and freezer. The eat-in kitchen and breakfast nook provide a cozy space for meals and gatherings with friends and family.

Spacious Floor Plans with Stylish Touches

Units at The 314 feature hardwood floors, tile floors, and vinyl flooring, giving residents a choice of surface to suit their preferences. The spacious layouts include a dining room, family room, office, den, and stunning views of the city. Generous walk-in closets and linen closets offer ample storage, while large bedrooms and window coverings provide a comfortable, private retreat.

Pet-Friendly Living

The 314 welcomes pets, adhering to a pet policy that includes a pet deposit, weight limit, and restrictions on aggressive breeds. Each pet must be interviewed, spayed or neutered, and declawed. With a maximum of two pets per unit and a weight limit of 35 lbs, The 314 ensures a harmonious living environment for all its furry residents.

Embrace the Downtown Los Angeles Lifestyle

Downtown Los Angeles is a bustling, eclectic neighborhood, divided into several districts that cater to a range of interests. The Fashion District and Jewelry District appeal to fashion-forward individuals, while the Arts District offers a haven for museum and art enthusiasts. Meanwhile, the Financial District is perfect for ambitious professionals looking to make their mark.

In addition to the entertainment industry, tech companies have established a strong presence in the area, particularly in the Arts District. Major employers in the city include banks, manufacturing firms, and well-known companies like Deloitte, US Bancorp, and Aon.

Immerse yourself in the vibrant arts, music, and nightlife scene of Downtown Los Angeles, home to prestigious theaters like the Orpheum Theater, the Microsoft Theatre at LA Live, and the Music Center. Sports fans can cheer on the LA Lakers, the Los Angeles Kings, and the Los Angeles Clippers at the Crypto.com Arena. Indulge in exquisite dining experiences at five-star restaurants and explore the hottest night clubs in the area, making Downtown Los Angeles the ultimate destination for those who crave a dynamic, energetic lifestyle.

TOUR VIDEOS — FOR PREMIUM SUBSCRIBERS ONLY

Green Spaces and Recreation Opportunities

Despite its urban setting, Downtown Los Angeles offers a variety of green spaces and recreational opportunities for residents to unwind and stay active. Enjoy a leisurely walk or a picnic at Pershing Square, a 5-acre park in the heart of downtown. Take advantage of the Grand Park’s 12 acres of greenery, featuring a splash pad, a dog park, and a playground for children. For a more intense workout, check out the Los Angeles State Historic Park or the Los Angeles River, which provide running and biking trails to help you stay fit and healthy.

Exceptional Educational Institutions

Downtown Los Angeles is home to a number of renowned educational institutions, offering students of all ages access to quality education. Within close proximity, you’ll find the University of Southern California (USC), the Fashion Institute of Design & Merchandising (FIDM), and the Colburn School, which specializes in performing arts education. Additionally, the area hosts several public and private schools for K-12 students, ensuring families have options to suit their children’s educational needs.

Ease of Transportation

The 314’s central location makes commuting and exploring the city a breeze. The neighborhood is well-connected with public transportation options, such as the Los Angeles Metro Rail and numerous bus lines. For those who prefer to drive, the building offers convenient access to major highways, including the 110, 101, and 10 freeways. Additionally, the area is highly walkable, allowing residents to easily explore the city and run errands on foot.

The Three One Four

The 314 luxury apartments in Downtown Los Angeles offer residents a unique combination of historic charm and modern amenities. With its central location, high-end features, and access to the best of what the city has to offer, The 314 is the perfect place to call home. Experience the ultimate in luxury living at this newly renovated and beautifully designed building, and embrace the vibrant lifestyle that awaits you in the heart of Downtown Los Angeles.

THE 314 FOR LEASE | UNLISTED | VIDEOS

Get a free list of historic live/work lofts, condos and apartments for lease or for sale. Fill out the online form.

<a href="https://laloft.wufoo.com/forms/zt4jbw80gideiq/" target="_blank" rel="noopener noreferrer">Fill out my Wufoo form!</a>

LOFT & CONDO LISTINGS DOWNTOWN LA [MAP]

Copyright © This free information provided courtesy L.A. Loft Blog with information provided by Corey Chambers, Broker CalDRE 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. Properties subject to prior sale or rental. This is not a solicitation if buyer or seller is already under contract with another broker.

Tag: live/work

Living the Loft Life: Exploring the Live/Work Loft as a 1031 Exchange Option

The 314

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