The Frank Gehry designed GRAND LA is now open, along with LA's first Conrad Hotel, and the fantastic San Laurel restaurant by chefs Jose Andres. This will be a fantastic addition to the Grand Arts Corridor, within a few steps to The Broad, Walt Disney Concert Hall, MOCA, Dorothy Chandler Pavilion, Mark Taper Forum, Redcat Theater, etc.
Monday, August 1, 2022
Sunday, July 10, 2022
Mills Act Lofts for Sale in DTLA
Anyone wanting to save up to 70% off their property taxes per year should look into Mills Act properties. It's one of the best tax loopholes, and there are some fantastic Mills Act lofts for sale right now.
See all available props for sale here and inquire to see what's coming soon here:
Increase in Renters in US since 1970
Number of Renters in U.S. in Past Decades
1970 - 22.4M Renters
1980 - 27.3M Renters
1990 - 33.7M Renters
2000 - 34.6M Renters
2010 - 37.1M Renters
2020 - 43.3M Renters
2022 - 44.1M Renters
Friday, July 1, 2022
DTLA Residential and Office Occupancy Rates Increasing
No doubt people are going back to work, and the price points in DTLA are still affordable compared to the rest of LA (meaning you can still find modernized condos and lofts for well under $1M).
DTLA’s residential occupancy rate for the fourth quarter of 2021 was 94%, up from 88% a year earlier, and the average rental rate was $2,759 per unit, compared with $2,400 in the fourth quarter of 2020.
The office vacancy rate was 20%, up from about 16% a year earlier. Retail vacancy fell to 6% from 7% in the fourth quarter 0f 2020, and hotel occupancy stood at 54%, up from 40% during the fourth quarter of 2020.
https://www.dailynews.
Monday, June 13, 2022
Investor Opps in DTLA
Units that get high rents and low price/SF in relation to recent comps. These are interesting opportunities to for investors.
Barker Block #131
$1.595M
2+3 / 2830sf
Arts District Massive industrial split/level loft with multiple living/working areas. Live/work space with a wide audience pool.
Compass, Thomas Atamian
Barker Block #102
$1.349M
2+2 / 2660sf
Arts District Massive industrial split/level loft with multiple living/working areas. Live/work space with a wide audience pool. Distressed sale with court confirmation. Cash preferred.
Coldwell Banker, June Ahn
Flower Street Lofts #123
$726K
1+2 / 1423sf
South Park Massive industrial split/level loft with multiple living/working areas. Live/work space with a wide audience pool. Amazing location within blocks to Crypto.com Arena, The Bloc, Fashion District, Financial District, etc.
Keller Williams, Joseph Iuliucci
Market Lofts #619
$799k
2+2 / 1370sf
South Park spacious 2 bedroom 2 bath loft style condo with front desk security and amenities galore.
Loftway, Christiano Sampaio
Pan American #307
$599k
1+1 / 1000sf
Historic Core classic loft conversion with separate bedroom area, windows on opposite walls, balcony, Mills Act property tax savings.
KW, Miranti Bornvorsin
Thursday, June 9, 2022
Yes, the Building Where Johnny Depp Once Owned Penthouses
The Eastern Columbia building has had some serious exposure lately. It's the building where Johnny and Amber used live. And there are some fabulous lofts for sale there right now. Located right at the south end of the historic core, the building is within a few block from the Museum Building, Ace Hotel, Whole Foods, Fashion District, Proper and Hoxton Hotels, The Bloc, Apple Flagship Store, Paul Smith, Cliftons and more. And did I mention that the building is a Mills Act Cultural Monument?
Loft #603
$2.25M / 2+3 / 2230sf / 2 Parking Space Privileges
Penthouse #4
$1.795M / 1+2 / 1780sf / 2 Parking Space Privileges
Douglas Elliman, Ernie Carswell
Loft #611
$1.495M / 2+2 / 1740sf / 2 Parking Space Privileges
Urban RE, Alex Limandri
Loft #708
$1.395M / 1+2 / 1540sf / 2 Parking Space Privileges / 2 Deeded Storage Units
Coldwell Banker, Yuri Huxley
Loft #701
$1.299M / 2+2 / 1390sf / 2 Parking Space Privileges
Loft #902
$925K / 1+1 / 1280sf / 1 Parking Space
Loft #202
$895K / 1+1 / 1150sf / 1 Parking Space
Coldwell Banker, Yuri Huxley
Loft #805
$849K / 1+1 / 890sf / 1 Parking Space
Compass, Jennifer Gainey
Loft #M7
$785M / 1+1 / 1120sf / 1 Parking Space
Sunday, June 5, 2022
Interesting Investor Opportunities Right Now in DTLA
849 S. Broadway #M7
$785k / 1120sf
Famous for it's iconic clock tower and now the Johnny Depp and Amber Heard Trial, this unit is the lowest price/sf in the building right now at $700/sf. The most recent sale was #806, the same size unit for $865k. Unit #M7 comes with 1 parking space, and the building offers property tax savings with the MILLS ACT. Courtesy of Yuri Huxley, Coldwell Banker Realty.
--
215 W. 7th #1302
$598k / 800sf
Fabulous unit with barrel ceilings and exposed brick walls. 13th floor loft with views view views! The Bartlett building offers property tax savings with the MILLS ACT. Courtesy of Agnes Ferreyra, Realty Source.
--
108 W. 2nd #611
$575k / 750sf
Coveted east facing loft with DTLA skyline views! The Higgins building offers property tax savings with the MILLS ACT. Courtesy of Robert Howell, KW Beverly Hills.
Getting Ready to Sell Before Winter--and Another Interest Rate Hike
The window to sell is closing, so you want to get the place listed asap if you want to cash out this year. The rule of thumb is to have the place listed now, so you have time to get offers and into escrow by August. That way, you close on the sale before activity really starts to die down.
What to do to prepare to sell, in order of priority
1. Declutter
2. Paint the entire place, including ceilings and cabinets, if needed
3. Change out simple and easy things like faucets, cabinet hardware
4. Refresh bathrooms with a nice new mirror
5. Stage an empty place
6. Replace vanity in bathroom
7. Replace kitchen cabinets if within budget
Sunday, May 8, 2022
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
Rowan Loft #813 - 2+2 - 1000sf - $595K
Mill Act Tax Savings
Wednesday, April 27, 2022
EMCEE Studios to Take Over Trophy Building in Historic Core
Gamechanging news for 9th and Broadway:
The stunning Museum Building is getting a new owner. EMCEE Studios based in NY. If there was ever a building to buy, it's this one. Completely one-of-a-kind in scale, location and architecture, it's also situated next door to the historic Art Deco Eastern Columbia Lofts, as well as on the same block as the first DTLA Apple Store in the Tower Theater, Paul Smith, ACNE Studios, Mykita, Gentle Monster, Orpheum and within 3 blocks of Ace Hotel, Hoxton Hotel, Proper Hotel, Whole Foods, CMC, United Artists Theater, Globe Theater, Fashion District, Cooper Design Space, and a slew of other companies and buildings.
Subscribe to:
Posts (Atom)