Investor Deals in DTLA

Some interesting properties on the market with built-in equity. All because interest rates are rising and sellers are getting motivated. Cash buyers will have leverage, but these are properties that even financed buyers can snap up to flip or immediately rent out.

Cornell Lofts #604 - 1+1 - 1000sf - $499K

Mill Act Tax Savings

Courtesy of Jonathan Yuen, Iota

Barker Block #102 - 2+2 - 2660sf - $1.349M

Split level rare live/work space

Courtesy of June Ahn, Coldwell Banker

Eastern Columbia #M7 - 1+1 - 1120sf - $785K

Mill Act Tax Savings

Courtesy of Yuri Huxley, Coldwell Banker

Flower Street Lofts #123 - 1+2 - 1423sf - $757K

Rare split level

Courtesy of Joe Iulucci, Keller Williams

Rowan Loft #813 - 2+2 - 1000sf - $595K

Mill Act Tax Savings

Courtesy of Cindy Lorimer, Corcoran

DTLA - Sellers Must Woo with Prices or Interiors

While "suburban" homes are all the rage, more dense city areas are still lagging behind in activity and prices. In DTLA, prices are starting to catch up as Los Angeles opens up, the weather is always great, and it's now sinking in for buyers that DTLA is one of the few if not only places where you can avoid bidding wars. 

But to be serious about selling, you need to either price it right or just below the market, or really spruce up the place. There's a lot of competition around, and the best units are selling. 

Recently sold for top prices: 

1234 Wilshire #304 - Vero Condos 

https://www.themls.com/mlslistingphoto/listing/slideshow/#/21-714874 

746 S. Los Angeles St #910 - Cornell at Santee Village https://www.themls.com/mlslistingphoto/listing/slideshow/#/21-694530 

257 S. Spring St #4D - Douglas Lofts 

https://www.themls.com/mlslistingphoto/listing/slideshow/#/21-685716 

1155 S. Grand #1708 - EVO Condos https://www.themls.com/mlslistingphoto/listing/slideshow/#/PW21003076MR 

530 Hewitt #323 - Barker Block Lofts 

https://www.themls.com/mlslistingphoto/listing/slideshow/#/20-669754 

253 S. Broadway #301 - Pan American Lofts https://www.themls.com/mlslistingphoto/listing/slideshow/#/21-706744 

253 S. Broadway #509 - Pan American Lofts https://www.themls.com/mlslistingphoto/listing/slideshow/#/20-655240 

108 W. 2nd St #413 - Higgins Lofts 

https://www.themls.com/mlslistingphoto/listing/slideshow/#/21-678028 

416 S. Spring St #1207 - El Dorado Lofts https://www.themls.com/mlslistingphoto/listing/slideshow/#/20-608070 

Currently Active Prime Units: 

1850 Industrial #712 - Biscuit Company Lofts https://www.themls.com/mlslistingphoto/listing/slideshow/#/20-672070 

849 S. Broadway #1210 - Eastern Columbia Lofts https://www.themls.com/mlslistingphoto/listing/slideshow/#/20-652400 

849 S. Broadway #311 - Eastern Columbia Lofts https://www.themls.com/mlslistingphoto/listing/slideshow/#/21-680284 

1111 S. Grand #103 - Elleven Condos https://www.themls.com/mlslistingphoto/listing/slideshow/#/WS21097822MR 

1100 Wilshire #1705 

https://www.themls.com/mlslistingphoto/listing/slideshow/#/20-660640 

1100 Wilshire #1706 

https://www.themls.com/mlslistingphoto/listing/slideshow/#/20-622374 

1855 Industrial #418 - Toy Factory Lofts https://www.themls.com/mlslistingphoto/listing/slideshow/#/21-696298 

1111 S. Grand Ave #406 - Elleven Condos https://www.themls.com/mlslistingphoto/listing/slideshow/#/21-710154 

629 Traction #507 - MURA Condos https://www.themls.com/mlslistingphoto/listing/slideshow/#/PW21065305MR 

315 E. 8th St #906 - Textile Lofts 

https://www.themls.com/mlslistingphoto/listing/slideshow/#/21-690300

While Prices are Flexible, Buyers are Taking Advantage in DTLA

The suburbs are going crazy with multiple offers and way over-bids. A recent 2 bed 2 bath Mt. Washington house went from $995k to a final sale price of $1.485M. The activity in DTLA has been mellow since the middle of 2020, and now it's starting to pick up. Buyers who are still hardcore about walkability and centrality are taking advantage of the lack of bidding wars in an area that is still exciting, and where there's development happening in the background. And the best kept secret: The highest concentration of Mills Act Buildings and residences in all of LA.

Recent Sales in DTLA of unique properties:

Textile Lofts #405 - Cutest light-filled corner unit in the fashion district. Parking, storage unit, and Mills Act! https://www.themls.com/mlslistingphoto/listing/slideshow/#/20-585120

Textile Lofts #404 - Cutest light-filled corner unit in the fashion district. Parking, storage unit, and Mills Act! https://www.themls.com/mlslistingphoto/listing/slideshow/#/20-585120

Flower Street Lofts #312 - Craziest price/sf in South Park. Includes 2 parking spaces. Amazing deal. https://www.themls.com/mlslistingphoto/listing/slideshow/#/AR20193757MR

Rowan Lofts #102 - Sexy 2-story, 2 bath loft with rare outdoor space, one of only a dozen! And Mills Act! https://www.themls.com/mlslistingphoto/listing/slideshow/#/20-610336

Recently in escrow:

Barker Block Lofts #502 - Someone got a deal on 1330sf! https://www.themls.com/mlslistingphoto/listing/slideshow/#/19-524406

Higgins Loft #1001 - Penthouse loft, these are almost never on sale. Private rooftop patio. Mills Act too. https://www.themls.com/mlslistingphoto/listing/slideshow/#/21-682076

Available for sale:

1100 Wilshire #1705 & 1706 - Rarely on the market, only 5 of these with a terrace in the entire building! https://www.themls.com/mlslistingphoto/listing/slideshow/#/20-622374

https://www.themls.com/mlslistingphoto/listing/slideshow/#/20-660640

Douglas Loft #4D - Charming, includes rare underground parking space, Mills Act. https://www.themls.com/mlslistingphoto/listing/slideshow/#/21-685716

Molino Loft #113 - Arts District gem with a patio! Nearly 1800sf! https://www.themls.com/mlslistingphoto/listing/slideshow/#/20-635760

Eckardt Loft #707 - Top floor unit in a Mills Act Building! https://www.themls.com/mlslistingphoto/listing/slideshow/#/21-677502

Elleven #1006 - Beautifully maintain loft in a top notch LEED certified building in South Park. https://www.themls.com/mlslistingphoto/listing/slideshow/#/21-682634

Eastern Columbia Loft #1210 - First time on the market, 4-level penthouse in Mills Act gem. https://www.themls.com/mlslistingphoto/listing/slideshow/#/20-652400

Pan American Loft #509 - First time on the market, rare Mill Act penthouse with private rooftop patio. https://www.themls.com/mlslistingphoto/listing/slideshow/#/20-655240

Bartlett Loft #1402 - Another Mills Act loft with a private rooftop patio!  https://www.themls.com/mlslistingphoto/listing/slideshow/#/20-595482

More Activity in the Arts District - Barker Block & Biscuit Lofts

DTLA Arts District has become one of the most valuable areas in which to invest. Prices have been steadily rising, and it's no wonder with developments of theaters, galleries, shops, restaurants, GROW market, upcoming SOHO House, Garey Lofts, @Mateo, revitalization of the Coca Cola Building, etc.

Three new lofts available for sale:

Barker Block #542 - 1110sf - 849k

Russell Roney, KW

Barker Block #424 - 1070sf - 750k

Ted Trentman, Realty Source

Biscuit Lofts #114 - 980sf - $748k

Gil Saraf, KW

Split Level Penthouse Warehouse Loft - Barker Block #525

Hard to expect much more from this loft. Great views, privacy, and top floor location, skylight, lofted bedroom, super tall ceilings, 2 bathrooms, parking, etc. Plus it a live/work loft in the Barker Block building, the darling of the Arts District. Developed by The KOR Group, the building boasts a lovely rooftop pool and gym--both with views for miles, courtyard areas and an art exhibition tunnel. Plus it's directly across the street from Urth Cafe, perfect for that morning coffee run. Walk to Black Top Coffee, Zinc Cafe, Bestia, Church & State, Bread Lounge, Stumptown Coffee, Wurstkuche and more. The stunning loft features original wood beams, beautiful wood floors and sleek kitchen. Includes one assigned parking space. 1230sf. Listed at $999k. 

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