Two-story Penthouse with Private Rooftop Deck - Higgins Lofts #1004

Rare penthouse pad in DTLA. The top floor loft in the historic Higgins building has a mezzanine that is perfect for an office, guest bedroom or master bedroom as it leads straight up to a private rooftop deck with views of the downtown skyline. There is a skylight that lets in amazing light and 22' tall ceilings. Features 980sf of indoor space, and approx 200sf of outdoor space. Has 1 bathroom. The Higgins Building holds the Mills Act distinction which helps reduce property taxes.

DTLA is in the Top 5 Most Expensive Places to Rent in Los Angeles County

According to Zumper, DTLA has among the highest median rent prices for 1 bedrooms, even topping Beverly Hills and Bel Air. From highest average prices:

1. Santa Monica -$3160
2. Ocean Park - $2700
3. Venice - $2560
4. Marina de Rey - $2520
5. DTLA - $2410

Those looking into investment properties should be looking into DTLA. And did I mention no rent control as well?

Historic Mills Act Pied a Terre in the $300s

It's still possible to get a historic loft in a wonderful walkable neighborhood in the 300s, in a Mills Act Building. This loft in the lovely Rowan building faces the Spring Street Park and features large double hung windows, exposed brick, Scavolini kitchen, Bosch washer/dryer in the unit, and an open plan layout. The Rowan has a doorman, BBQ patio, hot tubs, and a resident lounge. Walk to  the Farmers Market, Buzz Wine, Bar Ama, Orsa and Winston, Spring for Coffee, The Continental, Spring Street Arcade, Ace Hotel, Terroni, Nickel Diner, Verve Coffee and more. 460sf, 1 parking space with option to lease another. Asking $378k.

Currently Available Industrial Lofts in DTLA

Simply put, there are usually two kinds of lofts--industrial and architectural. The architectural ones are generally the conversions from former bank buildings, offices (think Rowan Lofts, Douglas Lofts, Eastern Columbia Lofts) that have a lot of beautiful character intact, both inside and out. The industrial ones are often conversions too, but have generally been adapted from factories, warehouses or showrooms (think Biscuit Company Lofts, Toy Factory, Barker Block, Textile Lofts).

Below are industrial lofts currently available for sale in these unique buildings:

FLOWER STREET LOFTS IN SOUTH PARK (Formerly a UPS Shipping Hub)

Penthouse Loft #416 - 1648sf - $800k

Loft #215 - 1260sf - $750k

Loft #117 - 1483sf - $683k

BARKER BLOCK LOFTS IN THE ARTS DISTRICT (Formerly the Barker Brothers Furniture Factory & Warehouse)

Loft #424 - 1070sf - $849k

Can You Believe, Prices Haven't Risen in 8 Years?

Here's the reality: prices have risen since 2010. A lot. Then why are so many people clamoring to buy homes, often overbidding?

Because we're barely starting to match 2007 prices. So, look at it this way: prices have not gone up in about 8 years. The price people paid in 2007 is actually more than what people are paying now, which is why some people are still holding on until prices rise even more.

Two Side by Side Units for Sale in the Financial District - 655 Hope #1004 & #1005

It's so rare to have two units come on the market that are side by side, especially in a boutique-style building with only 80 units. Combine the units into one super loft. One of the units is a corner unit with southward views down Hope Street and to the east. Each unit features two full bathrooms with luxury finishes, sleek dark hardwood floors, walk in closet, tall ceilings laundry inside, storage unit, 1 covered garage parking space. Building has a front desk security guard, rooftop deck with BBQ, gym, conference room, and is conveniently accessible to the Metro Red Line. Walk to Bottega Louie, The Bloc, Seven Grand, Fig & 7th, The Standard Hotel, Jewelry District and more. Each unit is nearly 1200sf, and each is asking $799k.

 Courtesy of Jin Lee, Stanford Raffles Realty

DTLA Properties Over 1400SF

Large condos are few and far between in downtown. Developers are chopping up units into smaller and smaller spaces to get the most money for their investment. When you're starting to see 700sf studios going for $400-%500k, suddenly 900sf is considered spacious for a 1 bedroom. With size becoming a premium in the area, properties that are over 1400sf are becoming more rare and will hold value in the future.

Some available "oversized" properties:

Flower Street Lofts #108 - 1424sf - $710k

Courtesy of Christiano Sampaio, Loftway

Market Lofts #312 - 1460sf - $800k

Courtesy of Edward Park, Stanford Raffles

Sky Lofts #1204 - 1640sf - $969k

Courtesy of Ivan Pan

EVO #1703 - 2070sf - $1,390,000

Courtesy of Yumiko Cato Lee, The Real Estate Group

Elleven #1018 - 2070sf - $1,450,000

Courtesy of Kerry Marsico, Coldwell Banker

Rent Prices in DTLA in the Newest Buildings

According to Downtown News, rent prices are higher than ever in DTLA. Not surprising since it's become a destination as well as a neighborhood with an ever-growing list of amenities. And most of all, the ability to walk and bike everywhere within minutes. This lifestyle is new for LA, and it's become one of the most desirable things about DTLA, and a lot of people agree. The demand for housing in downtown has become so great that rent prices, as well as condo prices, have increased dramatically in the past few years. And there are no signs of slowing down.

A snapshot of rent prices in these newly constructed buildings, according to Downtown News:

The Emerson
800sf - Approx $3,295 a month. That’s $4.12sf.
Corner two-bedrooms averaging 1,175sft are $4,995 a month, or $4.25sf.

Ava Little Tokyo 
625sf, for $2,510, or $4.02sf.
A two-bedroom unit with 964sf was offered for $2,798, or $2.90sf.

One Santa Fe
$2,010 for 526sf, or $3.82sf.
Two bedrooms start at $2,635 for 899sf, or $2.93sf.

Hanover South Park
709sf for $2,335, or $3.29sf.
Two-bedroom units with 1,050sf were listed at $3,330, or $3.17sf.

Avant
694sf for $2,162, or $3.11sf.
A $2,957 two-bedroom had 1,045sf, for an average of $2.83sf.

Rents in condo buildings in DTLA:

Higgins Building
$2200 for 750sf, or $2.95/sf

1100 Wilshire
$2500 for 750sf, or $3.33sf

Eastern Columbia
$2900 for 1120sf, or $2.59sf

Mura
$2800 for $1240sf or $2.26/sf

Flower Street Lofts
$3000 for $1420sf or $2.11sf

Elleven
$2400 for 970sf or $2.47/sf

Barker Block
$2500 for 890sf or $2.81sf
$4900 for 2630sf or $1.86sf

One-of-a-Kind Loft Compound by DTLA & Cornfield Park - 1411 N. Broadway

Beautifully reimagined space in a former auto factory. The original bones of the building still intact, the space has undergone a transformation that will impress. 4000sf of renovated living space is matched by a flow into the outdoor private oasis, complete with rain shower and bath. This is a rare opportunity to own a converted residence that is in essence a private compound within a bike ride to the center of DTLA and across the road from Cornfield Park. Minutes to Highland Park, Frogtown, Atwater, Echo Park, Elysian Valley, Brewery, etc.  2 bedroom areas with bonus mezzanine loft, 2 full baths, 2 additional half baths plus outdoor bathing retreat. 2 Parking spaces within courtyard grounds. Total lot is nearly 7000sf. Asking $2.495MM.

Historic Corner Loft for Sale - Rowan Loft #1016

Beautiful, restored *corner!* loft in the heart of the historic core and Spring Street bustle with views of the park and Spring St. This 10th floor loft in the historic Rowan building boasts original oversized windows, hard wood floors, original brick walls, and separated bedroom area. 1 bathroom and access to 1 parking space. The loft is 720sf and the asking price is $515k. The Rowan is a Mills Act designated building.