Beautifully maintained and situated on the Northwest corner of the building, with its own skylight, it is the best Penthouse ever to hit the market in a historic Mills Act building! Will be asking 3.9MM.
Thursday, January 26, 2017
An Impressive Eastern Columbia Penthouse Coming on the Market Soon
Johnny Depp may have had 5 penthouse units at the marvelous Eastern Columbia, but there's another coming on the market that is larger, has better views, and more outdoor space. The 4-story Penthouse is over 3000sf, making it the largest one at Eastern Columbia.
Beautifully maintained and situated on the Northwest corner of the building, with its own skylight, it is the best Penthouse ever to hit the market in a historic Mills Act building! Will be asking 3.9MM.
Beautifully maintained and situated on the Northwest corner of the building, with its own skylight, it is the best Penthouse ever to hit the market in a historic Mills Act building! Will be asking 3.9MM.
Friday, January 13, 2017
What to Look Out for in a High Market in DTLA
Gone are the days of just snatching up lofts because they were there for the taking. The prices are going up and the inventory is still very low, keeping prices even higher. So many downtown homeowners are here to stay--with so much now at their doorstep, it's become one of the most exciting places to visit and live. The dilemma for most buyers is inventory is low, prices are high, and it's a risk to wait in case the market goes up.
In these times, you need to look out for the following if you're in the market to buy. If you can get 2 or more of the following ticked off, then you're doing well;
1. Units that have upside potential. Rather than buy a completely remodeled place, look for one that needs some rehab. New kitchen or new flooring perhaps. Or bathroom remodels. Even something as minor as new lighting. By you adding 10k-20k, you can add 50k in value.
2. Look for buildings with great amenities. There are a lot of new lease-only buildings on the market with top notch amenities. That is your competition. A building with amenities is going always have some value.
3. Buy in a building that offers parking. Enough said.
4. Buy a unit that has something unique and special, like a great city view, or overlooking the park. Or one that has an extra bedroom nook. Or that has a balcony. It's hard to get it all without spending over 1M, but if you can get into a unit that has one or two special features that other units don't have, it's going to add value.
5. Buy in a building that has good development around it. Meaning retail, office space, grocery stores, parks, hospitals, Metro access, etc.
In these times, you need to look out for the following if you're in the market to buy. If you can get 2 or more of the following ticked off, then you're doing well;
1. Units that have upside potential. Rather than buy a completely remodeled place, look for one that needs some rehab. New kitchen or new flooring perhaps. Or bathroom remodels. Even something as minor as new lighting. By you adding 10k-20k, you can add 50k in value.
2. Look for buildings with great amenities. There are a lot of new lease-only buildings on the market with top notch amenities. That is your competition. A building with amenities is going always have some value.
3. Buy in a building that offers parking. Enough said.
4. Buy a unit that has something unique and special, like a great city view, or overlooking the park. Or one that has an extra bedroom nook. Or that has a balcony. It's hard to get it all without spending over 1M, but if you can get into a unit that has one or two special features that other units don't have, it's going to add value.
5. Buy in a building that has good development around it. Meaning retail, office space, grocery stores, parks, hospitals, Metro access, etc.
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