
Los Angeles, California 90012
This Historic Penthouse Loft is a Strong Value Opportunity, listed at $920,000—positioned slightly above the $897,104 Fair Market Value. While priced at market, the property offers unique Mills Act Tax Benefits and a Condition Rating of 3, ensuring a move-in ready experience. Featuring 17-foot ceilings, a private rooftop sanctuary, and panoramic city views, this residence provides an unmatched urban lifestyle in the heart of the Historic Core. It is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a rare, architecturally significant DTLA landmark.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 253 S Broadway 504 Subject | $849,000* List Price | 1 | 1 | 1,210 | $626 | - |
A 100 S Alameda Street 149 Sold | $640,000 | 2 | 2 | 1,042 | $614 | 0.6 mi |
B 108 W 2nd Street 1006 Sold | $1,100,000 | 0 | 2 | 1,460 | $753 | 0.2 mi |
C 222 S Central 242 Sold | $645,000 | 2 | 2 | 1,220 | $529 | 0.6 mi |
D 118 Astronaut Ellison S Onizuka Street 411 Sold | $765,000 | 1 | 1 | 994 | $770 | 0.4 mi |
E 257 S Spring Street 2m Active | $724,000 List Price | 1 | 1 | 1,040 | $696 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
This historic loft was converted/renovated approximately 15 years ago. The interior shows well-maintained hardwood floors, high-quality architectural details, and updated systems consistent with a mid-2000s conversion. It is move-in ready and functional, fitting the 10-20 year age bracket for well-maintained properties.
As a designated Historic-Cultural Monument, this property qualifies for the Mills Act, offering the owner substantial property tax savings of up to 70%.
This corner penthouse features soaring 17-foot ceilings, original brick-framed windows, and a rare private rooftop sanctuary with panoramic views of the city and mountains.
Located in the heart of the Historic Core, the unit is directly across from Grand Central Market and the Metro, providing exceptional walkability to DTLA's premier dining and entertainment.
The association fee of $961.75 per month is relatively high for a one-bedroom residence, which may impact the overall affordability for some buyers.
Built in 1897, the property's historic status and age may result in stricter renovation guidelines and potential challenges associated with maintaining vintage infrastructure.
A rare opportunity to own a piece of Los Angeles history. Welcome to one of Downtown Los Angeles' most unique residences, a one-of-a-kind, two-story corner penthouse with a private rooftop terrace in the historic Pan American Lofts. Offered for the first time in 15 years, this rare residence features soaring 17-foot ceilings, nine oversized east- and south-facing windows, a distinctive fire escape, and unobstructed views down Broadway, including direct views of the iconic Bradbury Building and Million Dollar Theatre. The residence also benefits from the highly sought-after Mills Act, offering approximately 70% savings on property taxes. The HOA further enhances the value, covering nearly all utilities, including water, gas, internet, premium cable, and sewer, with electricity as the only utility paid separately by the owner. A dramatic spiral staircase leads to the lofted bedroom and your own private rooftop retreat, where panoramic city and mountain views create the perfect setting for entertaining, relaxing, grilling, or rooftop gardening. The unit includes a deeded subterranean parking space conveniently positioned near the elevator and building amenities include a central courtyard for dining and lounging. Ideally located in the heart of Downtown's Historic Core, directly across from Grand Central Market and the Historic Broadway Metro Station, you can enjoy easy access to Little Tokyo, the Financial District, and some of DTLA's best dining, shopping, and entertainment. The 40-unit Pan American Lofts is a meticulously maintained building and a true gem in the heart of DTLA's Historic Core.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 1.0 | 2.0 |
| Baths | 1.0 | 2.0 |
| Square foot | 1,210 | 1,219.385 |
| Lot Size | 13,327 | 27,236.074 |
| Price | $849.0K | $800.2K |
| Price per sq ft | $702 | $650 |
| Built year | 1897 | 1979 |
| HOA | $961.75 | $685 |
| Days on market | 68 | 72 |
Aug 28, 2026
$849,000
$899,000
-6% Price Drop
Initial Listing
Aug 2, 2026
$899,000
$920,000
-2% Price Drop
Initial Listing
Jul 3, 2026
$920,000
Initial Listing
Dec 12, 2011
$450,000
Public Record