Tag: downtown LA

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Eastern Columbia Building Lofts Today

Downtown’s greatest residential art deco masterpiece

Most recently known as the location of five condominium penthouses owned by A-list celebrity Johnny Depp, the Eastern Columbia retains its title as one of the most celebrated American historic buildings.  #easterncolumia #millsact

Eastern Columbia
Eastern Columbia

Now that Depp has recently shed his penthouses as he divorced, the regular folk can get a chance to enjoy these rare urban abodes that crown the glorious turqoise ediface.

At 849 S Broadway, the 2,500 sq ft 2 bedroom, 2 bathroom Penthouse 1 was just recently leased out to a fashionable company for productive live-work use for around $7,500 per month.

Formerly owned by Johnny Depp, the penthouses are known as the ultimate in DTLA living.  Eastern Columbia is a luxurious full-service historic building. The 2 bedroom 3 bathroom penthouse is located at the Eastern Columbia Building, a masterpiece that is considered to be the prime example of Art Deco architecture in downtown L.A. The best of LA inside and out: amazing city views, two secured indoor parking spaces and a prime location. Double high ceilings, open floor plan living area with wood floors, a large powder room, full kitchen with stylish stainless steel cabinetry and Viking appliances. The living area opens to a large private patio for entertaining while enjoying the beauty of the tiles and bas-relief details. The upstairs features two Large Master suites, each with striking views and sitting areas, generously sized bathrooms and large walk-in closets plus an in-unit laundry.  Located in the iconic Eastern Columbia clock tower.  The building’s Gym, Spa, salt water pool and fire pit in the backyard offer that extra space that will make guests feel on top of the world. The building offers full concierge service, security, dog-friendliness and exclusivity that is hard to find. A large, dedicated storage room for the unit is included in the building.   |   Mills Act Tax Benefits

Many are not aware that the Eastern Columbia owners can get substantial tax savings. Get a free list of historic Mills Act lofts. Fill out the online form:

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Eastern Columbia Penthouse Interior
Eastern Columbia Penthouse Interior

 

Copyright © This free information provided courtesy L.A. Loft Blog and LAcondoInfo.com with information provided by Corey Chambers, Realty Source Inc, BRE#01889449 We are not associated with the homeowner’s association or developer. For more information, contact (213) 880-9910 or visit LAcondoInfo.com Licensed in California. All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties subject to prior sale or rental. This is not a solicitation if buyer or seller is already under contract with another broker.

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Can I Afford this Historic Loft? Downtown L.A. Loft Prices and Interest Rates

Will Home Prices Fall as Mortgage Rates Rise?

Can I afford this amazing Downtown loft?
Can I afford this amazing Downtown loft?
First Time Home Buyers, For Buyers, For Sellers, Interest Rates, Move-Up Buyers, Pricing

Here’s a truly amazing historic corner unit loft just listed with extra large windows, natural light, views, underground parking and amenities. But can I afford it?  Mortgage interest rates have gone up by more than half a point since the beginning of 2018. They’re projected to increase by an additional half a point by year’s end. Because of this increase in rates, some are guessing that home prices will drop.  #textileloft #interestrates

However, some prominent experts in the housing industry doubt that home values will be negatively impacted by the increase in rates.

That large one bedroom loft in the Textile building is located in the Fashion District. This condominium home is 890 square feet, features high ceilings, original industrial windows, a half-wall partitioning bedroom area, stainless steel Bosch appliances, full laundry closet with stacked washer/dryer, central air and heat, stylish upgrades and a creative design.  Take a look!

Mark Fleming, First American’s Chief Economist:

“Understanding the resiliency of the housing market in a rising mortgage rate environment puts the likely rise in mortgage rates into perspective – they are unlikely to materially impact the housing market…

The driving force behind the increase are healthy economic conditions…The healthy economy encourages more homeownership demand and spurs household income growth, which increases consumer house-buying power. Mortgage rates are on the rise because of a stronger economy and our housing market is well positioned to adapt.”

Terry Loebs, Founder of Pulsenomics:

“Constrained home supply, persistent demand, very low unemployment, and steady economic growth have given a jolt to the near-term outlook for U.S. home prices. These conditions are overshadowing concerns that mortgage rate increases expected this year might quash the appetite of prospective home buyers.”

Laurie Goodman, Codirector of the Housing Finance Policy Center at the Urban Institute:

“Higher interest rates are generally positive for home prices, despite decreasing affordability…There were only three periods of prolonged higher rates in 1994, 2000, and the ‘taper tantrum’ in 2013. In each period, home price appreciation was robust.”

Industry reports are also calling for substantial home price appreciation this year. Here are three examples:

Bottom Line

As Freddie Mac reported earlier this year in their Insights Report, “Nowhere to go but up? How increasing mortgage rates could affect housing,”

“As mortgage rates increase, the demand for home purchases will likely remain strong relative to the constrained supply and continue to put upward pressure on home prices.”

The historic loft that we mentioned earlier comes with one dedicated parking space under Santee Village and one storage space in basement garage. Shared amenities w/ Santee Village includes rooftop pool, BBQ area, driving range, lounge, basketball court, fitness center, & dog park. Steps away to flower mart, local cafes, fine dining, entertainment, shopping, and public transportation. This historic residence benefits from Mill Act tax relief.  PHOTOS

Get a free list of historic mills act lofts for sale. Fill out the online form:

LOFT & CONDO LISTINGS DOWNTOWN LA [MAP]

  Lofts For Sale     Map Homes For Sale Los Angeles

SEARCH LOFTS FOR SALE  Affordable  |  Popular  |  Luxury  |  Sold
Browse by   Building   |   Neighborhood   |   Size   |   Bedrooms   |   Pets   |   Parking

 

Higher Interest Rates and Affordability
Higher Interest Rates and Affordability

Copyright © This free information provided courtesy L.A. Loft Blog and LAcondoInfo.com with information provided by Corey Chambers, Realty Source Inc, BRE#01889449 We are not associated with the homeowner’s association or developer. For more information, contact (213) 880-9910 or visit LAcondoInfo.com Licensed in California. All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties subject to prior sale or rental. This is not a solicitation if buyer or seller is already under contract with another broker.