Mills Act Property Once Belonging to Betty Davis Goes on the Market

We receive significant interest in Mills Act properties in the downtown core. It is a great place to find a valuable property in a historic building that qualifies for the mills act tax savings. We want to remind everyone that eligible properties can be found all over the state. It is fun to see them in other locations. A beachfront home in Laguna Beach, once owned by Betty Davis, is one of these properties.

A $3 million price chop might help Bette Davis’ former Laguna Beach home finally sell.

Canadian investment manager Richard Wernham has put the 5,472-square-foot home at 1991 Ocean Way on the market for $16.995 million, according to Dirt.

Wernham first put the home up for sale in April with an asking price of $19.995 million. The house was then re-listed in July for $18.995 million.

The oceanfront mansion, built in 1929, was added to the National Register of Historic Places in 1982. Being a historic home, the property comes with a 10-year Mills Act contract that allows homeowners to receive reduced property taxes in exchange for preserving the home.

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Fill out the online form to get Mills Act Properties on the market in DTLA.

The former Davis property is not the only home in the prestigious coastal city to see price reductions in recent months.

This month, a 1998-built home in Laguna Beach sold for $37.5 million after it was first put on the market in July for $48.9 million, in what was the third-priciest deal across Orange County this year.

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Copyright © This free information provided courtesy L.A. Loft Blog with the information provided by Corey Chambers, Realty Source Inc, DRE 01889449; MPR Funding Inc NMLS 2000513. 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 are subject to prior sale or rental. This is not a solicitation if the buyer or seller is already under contract with another broker.

Downtown Los Angeles Real Estate News – Mills Act Live/Work Lofts

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(Los Angeles, CA) —  Mills Act historic live work lofts with property tax benefits continue to lead the way in Downtown Los Angeles residential real estate.  Loft rentals are always some of the most sought-after places in Downtown L.A.  With their versatile, productive open space, live-work lofts attract large numbers of excited movers.  Alta Lofts are gaining attention as the bigger, nicer, cheaper lofts offer magnificent living at bargain prices compared to Downtown LA.    Affordable lofts remain somewhat elusive as the popular pads loom near record high prices.  Esteemed real estate professional Kerry Marsico remains in the news as thousands of clients, friends and industry cohorts inquire into the energetic Realtor’s untimely passing.  River House offers a newer 2 bedroom, 2 bath by the revitalizing Los Angeles River.  Here are links to the details:

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Get a free list of affordable lofts in DTLA.  Fill out the online form:

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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 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.