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

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

Executive Realty Group, Beata Mandel

Loft #902

$925K / 1+1 / 1280sf /  1 Parking Space 

KW, Anh Tran

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 

Coldwell Banker, Yuri Huxley

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.

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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.

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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

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

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. 

https://about.emceestudios.com/emcee-studio

https://www.glossy.co/fashion/exclusive-creator-platform-emcee-announces-physical-metaverse-hub-in-la/

https://dot.la/emcee-downtown-la-tech-2656677337.html

Interesting Properties for Sale in DTLA Right Now

257 S. Spring #4G

2 bed, 2 bath 1 underground parking space, corner unit

Mills Act Building

Walk to Grand Central Market, The Broad, Little Tokyo, Arts District, Gallery Row, Spring Arcade

Coldwell Banker - Call for pricing (310-869-2655)

1100 Wilshire #2202

2 bed, 2 bath 2 parking spaces, corner unit with 270 degree views

Down the street from Fig & 7th, Staples Center, Restaurant Row

$1.168M

Courtesy of KW Executive - Silvia Cheung

416 S. Spring #810

1 bed, 1 bath 1 parking space, charming former residence of Charlie Chaplin

Mills Act Building

Walk to Grand Central Market, The Broad, Little Tokyo, Arts District, Gallery Row, Spring Arcade

$519K

Figure8Realty - Nicole Kilmer

530 Molino #211

1 bed, 1 bath 2 parking spaces, massive loft over 3000sf

Walk to Soho House, Arts District Shops, Bestia, Bavel, Girl & Goat

$2.1M

Iota Realty - Jonathan Yuen

738 S. Los Angeles St #203

2 bed, 1 bath 1 parking space, massive private patio

Mills Act Building

Walk to Proper and Ace Hotels, Fashion District shops, Flower Market, Whole Foods

$545K

Roxana Godinez, Loftway

1130 S. Flower #102

2 bed, 2 bath 2 parking spaces, Massive patio and split level orientation

Walk to Staples Center, The Bloc, Fashion District, Whole Foods, Financial District

$998K

Lotus - Chi Lieu

DTLA Prices Rising and Days on the Market Decreasing

With COVID-19 getting somewhat contained, the weather as glorious as ever, and the steady flow of transplants to Downtown from places like New York, San Francisco, London and Sweden, prices are either holding steady or going up. 

Just in the past 6 months, there have been high profile building projects nearing completion (Frank Gehry's Grand LA https://www.thegrandla.com/) , some completed (CMC in the Fashion District https://www.californiamarketcenter.com/) and a slew of new businesses opening, and long term leases being signed (Adidas, Forever 21), and EMCEE buying up the Museum Building, which will keep the momentum for the 8th street corridor.

The window for deals in DTLA is finally closing.

California Major Cities to Get Funding for Housing and Development

Newsom wants to allocated $2B towards housing and other development in areas like DTLA, to help move people away from rural fire areas, tackle housing shortages, and climate change.

https://www.latimes.com/california/story/2022-01-13/newsoms-latest-housing-fix-more-californians-living-downtown

Where are the Deals?

Good luck, as there aren't many deals anymore, and even less in the foreseeable future. A good agent will let you in on interesting opportunities such as fixers, tenant-occupied props, and construction next door. The point is, good deals are not as easy to find in real estate as you might think. In a tough buyer's market, you need to ask yourself, do you like the property, and does it make financial sense? The agent should be able to help give you the rest of the picture.