Tag: Molino Lofts

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Arts District Downtown Los Angeles Penthouse Live/Work Loft For Lease 500 Molino St #302

Bright windows with lots of natural light, this top floor penthouse Molino Street live/work loft also has lots of character along with east views of 4th St bridge, mountains.  #molino #artsdistrict #dtla

Wood beamed vaulted high ceilings, bamboo wood floors, track and pendant lighting, Utility storage closet w/ in-unit laundry washer dryer. Excellent floor plan layout. Converted 1920’s warehouse authentic architectural detailing: exposed ductwork and historic industrial cast iron i-beam pillar. Eclectic hanging windowed wood door room partition. Open floor plan, modern kitchen, black granite countertops, pro faucet, stainless steel appliances, stylish lighting. Gated parking space, swimming pool, 2 rooftop sun decks, gym. By Bavel, Bestia, Officine Brera, Factory Kitchen, Blue Bottle coffee, Stumptown, Urth Caffe, Zinc Cafe, Cafe Gratitude, Grow Market, Villains Tavern, The Springs, Urban Radish, Daily Dose, Church and State, Resident, Wurstkuche, Hauser Wirth and Shimmel, Sci-Arc, Little Tokyo, and Gold Line Metro stops.

The Arts District is the place to be for those who want the most productive creative energy.  Call to see this Molino loft (213) 880-9910.

Homebuyers: Get a free list of Mills Act historic lofts with propert tax benefits. 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.

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What in the Hell is Going On with The Higgins Building? Mills Act Lofts Not a Panacea

In one of the cleanest, quietest parts of Downtown Los Angeles, with plenty of restaurants, shops and transportation nearby, the Higgins Building is a beautiful historic live/work loft condominium building.

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Residents enjoy all of the original marble in the lobby and hallways, and the units have large windows and original flooring mix of concrete and historic tile. But there is a down side. Even though they have substantial savings from the Mills Act status, Higgins lofts have experienced a recent sell-off and minor glut. The reason — a substantial HOA Home Owner’s Association assessment is in the works.

Several years ago, the HOA sued the developer for construction defects and placed some catch nets to stop the crumbling building facade from falling onto pedestrians walking on the sidewalk.  The homeowners did not get enough money to pay for everything.

The L.A. Loft Blog has recently learned that the unfortunate home owners will get stuck paying millions of dollars to replace the decayed decorated coating on the outside of the building. Every homeowner may soon be required to pay as much as $25,000 or more to make up for the shortfall of funds.  It is not clear exactly how the homeowners will finance the big cash outlay.

As a result, home prices at Higgins have been comparatively stagnant as compared to many other Downtown buildings.  A 650 sq ft interior unit that sold for $377,000 (without parking) less than 2 years ago will only sell for around $387,000 today.  Not too bad — but compare that to a Molino loft with a view that sold in the Arts District for around $550,000 that will sell for more than $680,000 in today’s real estate market. While they are not qualified for Mills Act tax savings, the Molino lofts makes up for it with low HOA dues, convenient parking and a rooftop pool deck.  The Molino lofts building can expect to see further increase involve after the new hip shopping center opens across the street, adding highly desirable retail to the immediate industrial neighborhood. The Higgins Building does have its benefits however in the form of Mills Act savings, and some sellers are actually paying the assessments so that the buyer might be spared a major unexpected expense.

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Copyright © 2016 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, seller 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.