mills act – Page 5 – LA Loft Blog

Address: 5471 Village Green, Los Angeles CA 90016
Beds: 3
Baths: 2.00
Sqft: 1,583
List Price: $1,200,000 ($758.05 per sqft)
HOA Fee: $798.64 (Monthly)

Are you on the hunt for a unique property with a rich historical background? Look no further! Presenting a rare find in Los Angeles: a 3-bedroom corner unit at Village Green, a mid-century village bursting with character. | PROPERTY DETAILS

Set amidst 68 acres, the Village Green offers 44 acres of serene gardens, parks, and mature trees. Imagine waking up every day and gazing out onto an expansive lush park from every window. The upstairs bedrooms even offer picturesque views into the treetops. The property boasts a front patio overlooking the green, along with a spacious private back patio – perfect for relaxation or entertaining guests.

Built in 1945, this two-story unit combines historic charm with modern living. Its interior features include a cozy fireplace in the living room, hardwood, parquet, and tile flooring, and equipped with a dishwasher, refrigerator, and range/oven. Not to mention, the property comes without the hassle of AC, utilizing the natural breeze and shade from the trees.

One of the most compelling aspects of this property is its designation under the Mills Act. This means it’s recognized for its preserved historical significance, leading to a notable reduction in property taxes for the owner.

Community Highlights:
Association: Village Green Owners Association
Amenities: Other Courts, Security, Landscape Maintenance, Pet Rules, Clubhouse, Guest Parking.
Pets: The community is pet-friendly but has specific rules and weight limits.
Property Details:
Year Built: 1945
Stories: 2
Units in Complex: 629
View: Trees, Green Belt, and Treetops
Style: Mid-Century
Parking: Garage that accommodates 1 car, with additional uncovered spaces.

To merely call this property a gem would be an understatement. It’s a unicorn! Owning a piece of Los Angeles history with unparalleled charm and benefits like reduced property taxes doesn’t come around often. This is your opportunity to be a part of the storied Village Green community. Don’t miss out!

Village Green: Los Angeles’s Historical Oasis Amidst the City’s Hustle

Imagine living in a tranquil oasis, surrounded by mature trees and lush greenery, and yet, located in the heart of the bustling city of Los Angeles. Sounds like a dream? Welcome to Village Green!

A Rich Historical Legacy

Village Green isn’t just a typical residential area; it’s a celebrated National Historic Landmark and Monument. Built in the 1940s, this iconic Garden City represents a blend of mid-century charm and contemporary amenities. Being a Mills Act designated property, homeowners enjoy significant property tax benefits, a nod to its rich heritage and significant historical value.

Sprawling Greenery and Mature Trees

Spanning over 68 acres, Village Green is a true urban forest. With over 2,000 mature trees, residents get to bask in the beauty of nature right outside their windows. For those who appreciate the outdoors, walking trails meander through the grounds, offering residents a respite from the city’s hustle and bustle. The views to the Baldwin Hills and Coliseum are nothing short of spectacular, adding to the property’s appeal.

Community at its Best

Living in Village Green isn’t just about the residences; it’s about being part of a vibrant community. The locale is known for its plethora of events, including jazz concerts, movie nights, and neighbor potlucks. For nature enthusiasts, bird-watching tours are a delight, with a chance to spot some rare avian species.

Modern Amenities Meet Historical Charm

The residences at Village Green are thoughtfully designed to offer the best of both worlds. From parquet floors and custom-made blinds to remodeled kitchens and spacious private patios, every home echoes a perfect balance of vintage allure and modern comfort. Residents can also benefit from features like 24/7 security, an on-site maintenance crew, and private garages.

Prime Location

Village Green’s central location is one of its many assets. Situated close to LAX, Beverly Hills, and Downtown Los Angeles (DTLA), residents enjoy the convenience of city living. The community is also a walking and rolling distance from the Metro Expo Line, trendy Downtown Culver City, Baldwin Hills Crenshaw Plaza, and the recently opened Whole Foods. Whether you’re looking to dine in a bistro, catch a movie, or shop, everything is just a stone’s throw away.

Village Green Beckons

Village Green is more than just a residential complex; it’s a lifestyle. The blend of historical charm, modern amenities, community spirit, and prime location makes it a sought-after gem in Los Angeles’s real estate market. If you’ve ever dreamt of owning a piece of history while enjoying all contemporary comforts, Village Green beckons! Experience this sanctuary in the heart of the city.

Get a free list of Mills Act historic lofts. Fill out the online form:

<a href="https://laloft.wufoo.com/forms/q7a6m911wf3nhy/" 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 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.

Introducing the Mills Act and how it offers significant tax advantages for loft owners in historic buildings, providing a financial incentive for potential buyers.

An Untapped Goldmine for Historic Loft Owners in Los Angeles

Los Angeles, the sprawling metropolis known for its eclectic mix of architectural marvels, is also home to an array of historic buildings that tell the tale of the city’s rich past. Nestled among the cutting-edge skyscrapers and modern edifices, you’ll find gems of yesteryears that have stood the test of time—historic lofts. For the keen investor or the cultured loft dweller, these edifices offer something far more valuable than mere nostalgic allure: significant financial benefits through the Mills Act.

What is the Mills Act?

Enacted in 1972, the Mills Act is a California state law that offers financial incentives to property owners for the preservation of historic buildings. In essence, the act allows owners to enter into a contract with the local government, committing to restore and maintain the historic property in exchange for a substantial reduction in property taxes—sometimes up to 60%.

The Financial Alchemy

Wondering how significant these tax savings could be? Let’s crunch some numbers. Assume you own a historic loft in Downtown L.A. valued at $1 million. A typical property tax rate in L.A. would be around 1.25%, amounting to $12,500 annually. Under the Mills Act, you could potentially reduce your annual tax liability to $5,000, translating to a saving of $7,500 every year. Over a decade, that’s a staggering $75,000 saved, which you could invest back into the property, or better yet, acquire another piece of architectural history.

The Competitive Edge for Buyers and Sellers

For sellers, being able to offer a loft with Mills Act benefits can make your property more appealing to a broader range of buyers, thereby potentially increasing its value and reducing the time it stays on the market. This is a unique selling proposition that sets you apart in a crowded real estate landscape.

For buyers, especially those considering making a long-term investment, the Mills Act is akin to a golden ticket. The tax incentives can make it more affordable to own a piece of L.A.’s historic soul, making these properties an incredibly smart investment from both a financial and cultural perspective.

A Win-Win for Landlords and Tenants

Landlords, consider this: With the reduced overhead, you could offer competitive rents while maintaining or even enhancing the property’s amenities. In turn, this attracts quality tenants who appreciate the unique charm and history of the building. And for renters, living in a Mills Act property often means enjoying a well-preserved building with a story to tell, without the sky-high rent usually associated with such historic grandeur.

The Investor’s Paradise

For the savvy real estate investor looking to diversify their portfolio, historic lofts backed by the Mills Act offer an enticing package. Not only do they come with tax incentives, but they are also properties that are likely to appreciate in value, given their limited supply and the ever-increasing demand for unique, storied spaces.

Historic Benefits

The Mills Act is not just a policy; it’s a treasure trove for those who value history, architecture, and, of course, smart financial moves. In a city where every square foot counts, this is your way to make those feet work for you, wrapped in the elegance of historical charm.

Los Angeles lofts offer a unique blend of the past and the present. Thanks to the Mills Act, they are now a gateway to a financially rewarding future as well.

So, if you’re keen on buying, selling, or investing in L.A.’s historic lofts, remember: The Mills Act is your connection to untapped financial benefits and cultural richness. Embrace it, and watch your investment flourish.

Request a free list of Mills Act historic lofts. Fill out the online form:

<a href="https://laloft.wufoo.com/forms/ze1qfwn1rrhoda/" target="_blank" rel="noopener noreferrer">Fill out my Wufoo form!</a>

LOFT & CONDO LISTINGS DOWNTOWN LA [MAP]

Tag: mills act