A Trio of Mills Act Properties Sold Condos Downtown Los Angeles See thier Prices and details.
215 Spring Street Sold for $535,000 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 tax benefits offering substantial property tax savings. 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 very little available inventory.
215 W 7TH ST Sold for $460,000
Live in the heart of DTLA at the beautiful and historic Bartlett Lofts. Surrounded by countless dining and entertainment options, this condo is also walking distance to multiple Metro lines. The one-bedroom loft unit features high ceilings, original oversized windows, stained concrete floors, and dense, soundproof walls. This quiet, interior unit overlooks the courtyard, thereby reducing street noise. Kick back on the beautiful, furnished rooftop terrace with 360-degree unobstructed views of downtown. The Bartlett also offers 24/7 front desk and security and is Mills Act approved allowing for substantially reduced property taxes.
312 W 5th Street Sold for $610,000
Rowan Building. Highly detailed with abundant views of Downtown, 10 foot high ceilings and large windows that Span the whole wall. Hardwood floors throughout, exposed brick walls, Located in the Historic Old Bank District of DTLA, The Rowan is the perfect blend of old world charm and modern amenities. Built-in 1912 and exquisitely remodeled in 2008, this Beaux Arts Architectural masterpiece allows its residents access to great local bars, restaurants, museums, and shopping right out front from their 24-hr guarded and secured entrance. The building offers an intimate indoor lounge, outdoor BBQ area with a hot and cold spa and a dog run. Qualifying for the Mills Act, owners enjoy substantial savings on their property taxes too.
#millsact #dtla
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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.
properties give about 2/3 of the property tax right back to us, so we get more resources to maintain these amazing pieces of timeless architecture. That is like getting paid about $6,500 per year to live in an awesome historic loft. That’s a super good deal. NOW factor in the increasing benefits as property taxes increase over time, and, for long-term residents the benefits could add up to many tens of thousands of dollars, possibly more than $200,000 in property tax savings over a mortgage term. That’s HUGE! This is so good that they will try to stop it. The Mills Act deal must be renegotiated every 10 years. #millsact #lofts #dtla
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