la lofts mills act – Page 2

What is the Mills Act Program?

Q: What is the Mills Act Program?
A: Economic incentives foster the preservation of residential neighborhoods and the revitalization of downtown commercial districts. The Mills Act is the single most important economic incentive program in California for the restoration and preservation of qualified historic buildings by private property owners. Enacted in 1972, the Mills Act legislation grants participating local governments (cities and counties) the authority to enter into contracts with owners of qualified historic properties who actively participate in the restoration and maintenance of their historic properties while receiving property tax relief.

Mills Act participants can realize very fruitful property tax savings each year for recently improved or purchased old properties because the valuation of a Mills Act property is determined by the Income Approach to Value rather and not by the common Market approach to calculating the appraised value. The Income Approach, divided by a capitalization rate, gives the assessed value of the property. Generally, the income potential for an owner-occupied residential property is calculated by looking at rental rates for comparable nearby properties, while the income from a commercial property is based on actual rent received. Because rental values vary greatly, the actual Mills Act historic property tax savings may vary.

Biscuitt Comany Lofts Deck — Biscuit Company Lofts Deck

Spotlighting a Mills Act property on the Market look no farther than this brilliant unit in the Biscuit Company Lofts. Designer perfect, turnkey, 2 story Penthouse at the Biscuit Company Lofts. Located in the epicenter of DTLA’s Arts District within close proximity to all of the best restaurants, coffee shops and soon to open Soho House. No expense was spared while turning this incredible residence into truly one of the finest in the neighborhood. Notable features include a private terrace with incredible West facing panoramic downtown views of the DTLA skyline, original brick walls, wood floors, stainless steel kitchen, and 2 full bathrooms. Considered one of the finest buildings in the Arts District, the Biscuit Company Lofts offers 24 hour-controlled entry, security guard, and concierge services. A resort-like swimming pool, outdoor entertaining area, fire pit, BBQ, dog walk, a two-level gym & 2 parking spaces round out this special offering. Mills-Act approved.

#MillsAct #PenthouseLoft

Would you like to know more? Mills act buildings Lofts are available now get the free list. Fill out this online form.

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LOFT & CONDO LISTINGS DOWNTOWN LA [MAP]

Biscuitt Company Lots Pool Deck — Biscuit Company Lots Pool Deck

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.

A rare gem from the 19th Century in DTLA.

The Douglas Building Lofts is an example of Downtown Los Angeles Lofts at their historic best. The Douglas Building Lofts feature uniquely 19th-century architectural details. From the Opulent lobby to the Corner units boasting operable, curved windows, and front row views of city hall and downtown Los Angeles. Sharing the street with The Bradbury Building, another historically significant building, this building could be considered the epicenter of the historic core in Downtown Los Angeles. The Douglas Building is pet-friendly and moments away from Downtown Los Angeles Major Cultural Attractions.

Up for Sale in the Douglas Building.

257 S SPRING Street Apt. 3D Bright and charming unit in the Historic Core’s Douglas Building, circa 1899 (Mills Act Tax Incentive Program), with an assigned subterranean parking spot and Mills Act Property Tax Status, offering substantial property tax savings – Annual Property Tax for 2017: $2,321.70. Four huge picture windows flood the 740 sqft space with natural light, as well as beautiful views of City Hall, Civic Center, and Little Tokyo. Original hardwood floors and stunning tile work give it a matchless charm, with 11ft ceilings, high-end Poggenpohl kitchen, Waterworks fixtures, Bosch appliances, washer dryer in unit, lots of well thought out closets and storage space, built out sleeping loft and office or flex space. Rare opportunity to own a slice of history in a sought after building with the very little turnover.

Up for Lease in the Douglas Building.

Penthouse Built-In Library Frames Window in Living Room.

257 S Spring Street #Penthouse. Combining historic charm with modern comfort, this partially furnished penthouse unit with soaring ceilings features countless high-end upgrades including a magnificent 19-foot high built-in walnut library, Poggenpohl kitchen cabinets, and Bosch appliances. Other amenities include an enclosed bedroom for privacy, a custom organized closet, a loft office, and in-unit washer/dryer. One parking space with direct building access. Large windows with view to City Hall. Walking distance to Grand Central Market, The Broad Museum, MOCA, Disney Concert Hall, and Music Center.

#DouglasLofts #DTLA

Get free information on other Mills Act Properties in Downtown Los Angeles, Fill out the online form.

<a href="https://laloft.wufoo.com/forms/ze1qfwn1rrhoda/" target="_blank" rel="noopener noreferrer">Fill out my Wufoo form!</a>

LOFT & CONDO LISTINGS DOWNTOWN LA [MAP]

Douglas Building Lofts DTLA — Douglas Building Lobby

Tag: la lofts mills act

Mills Act Tax Savings for Downtown LA Lofts

Douglas Building Lofts 19th Century Office Building Offers Awesome Downtown Los Angeles Loft Living

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