Tag: Lofts

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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

Place an early offer today. 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.

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Elysian Valley Homes For Sale and For Lease Los Angeles

ELYSIAN VALLEY HOMES FOR SALE | FOR LEASE | SOLD | UNLISTED

Q: Why is Elysian Valley called Frog Town?

A: Elysian Valley, unofficially known as Frog Town in Los Angeles, got its nickname historically due to the presence of frogs. Today, it’s unlikely that you’ll find many frogs. The nickname now serves more as a historical and cultural reference, capturing a piece of the area’s past rather than its present ecological state.

REAL ESTATE NEWS (Los Angeles, CA) — Elysian Valley, a charming and somewhat hidden spot nestled between the L.A. River and Elysian Park, is enjoying a real estate renaissance that’s capturing the attention of homebuyers and renters alike. Known officially as Elysian Valley, this eclectic neighborhood has a rich history and a vibrant community spirit that’s as unique as its nickname.

The story of Elysian Valley begins with its geography. Bordered by the Los Angeles River, this area was once a floodplain teeming with wildlife, including, you guessed it, frogs. Over the years, as Los Angeles grew, the neighborhood developed a distinct personality, shaped by its proximity to the river and Elysian Park.

Today, Elysian Valley is in the midst of a transformation, with the L.A. River revitalization project bringing new life and energy to the area. This change is reflected in the real estate market, where both homes for sale and for lease are becoming increasingly sought after.

One of the most notable developments in Elysian Valley is the River House condominiums. These modern residences represent a significant shift in the area’s real estate landscape. They are the first homes in recent times to directly face the river, offering residents stunning views and a connection to the natural beauty of the area.

The architecture of River House is a blend of modern and industrial styles, reflecting the neighborhood’s eclectic character. With features like large windows, open floor plans, and sustainable design elements, these condos are attracting a diverse group of buyers, from young professionals to artists and families.

But River House is just one part of the story. The streets of Frog Town are lined with a mix of charming bungalows, new construction, and unique live/work spaces that cater to a variety of lifestyles and budgets. The neighborhood’s close-knit community feel, combined with its proximity to downtown L.A. and the natural beauty of Elysian Park, makes it an attractive option for those looking to live in a more laid-back, yet still urban, environment.

Elysian Valley is also becoming a cultural hotspot. The area’s industrial past has paved the way for a thriving arts scene, with galleries, studios, and creative spaces popping up throughout the neighborhood. The local dining scene is equally vibrant, offering everything from trendy cafes to traditional Mexican eateries.

For those interested in leasing, the area offers a range of options, from charming older homes to newly constructed apartments. The rental market here provides an opportunity to be part of a dynamic community that’s still somewhat under the radar, offering a unique blend of urban living and natural beauty.

As Elysian Valley continues to evolve, it’s becoming clear that this once-overlooked neighborhood is now one of Los Angeles’s most interesting and desirable places to live. Whether you’re looking to buy a modern condo with river views, lease a cozy bungalow, or simply enjoy the unique vibe of a community in transition, this hip section of LA offers something for everyone.

The story of Elysian Valley is one of change, resilience, and community. It’s a neighborhood that’s managed to retain its unique character while embracing the new and the next. With its mix of homes for sale and lease, thriving arts scene, and beautiful natural surroundings, it’s not just a place to live – it’s a place to experience.

Frog Town Art Walk: A Journey Through Creativity and Community

In the heart of Los Angeles, there’s a burgeoning neighborhood known affectionately as Frog Town. Officially named Elysian Valley, this vibrant area beside the L.A. River is the setting for one of the city’s most enchanting and engaging events – the Frog Town Art Walk.

A Canvas of Community and Culture

The Frog Town Art Walk isn’t just an event; it’s a celebration of community, art, and the unique spirit of a neighborhood in the midst of an artistic renaissance. Held annually, this event transforms the streets of Elysian Valley into a sprawling canvas where local artists, musicians, and craftsmen showcase their talents.

As you walk through the streets during the Art Walk, you’re immediately enveloped in a sensory feast. The air is filled with the sounds of live music, ranging from indie bands to traditional folk, setting a soundtrack to the visual wonders around.

A Neighborhood Transformed

The Art Walk is more than just a showcase of creativity; it’s a testament to the transformative power of art and community. In recent years, Elysian Valley has undergone a significant transformation, with the Art Walk playing a pivotal role in revitalizing the neighborhood and fostering a sense of pride and belonging among its residents.

This transformation is evident in the murals that adorn the walls of buildings, the sculptures that punctuate the landscape, and the community gardens that bring growing splashes of green to the urban environment. The Art Walk has become a catalyst for change, turning Frog Town into a thriving hub of creativity and culture.

Frog Town is more than just a neighborhood in Los Angeles; it’s a canvas, a stage, a workshop. It’s a community where the arts are not just celebrated but are integral to the very identity of the place. In Elysian Valley, creativity is not just a product; it’s a way of life.

ELYSIAN VALLEY HOMES FOR SALE | FOR LEASE | SOLD | UNLISTED

Get a free list of Elysian Valley homes for sale or for lease. Fill out the online form.

LOFT & CONDO LISTINGS DOWNTOWN LA [MAP]

  Lofts For Sale     Map Homes For Sale Los Angeles

SEARCH LOFTS FOR SALE Affordable | Popular | Luxury
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.