312 W 5th Street 221, Los Angeles, California 90013, Los Angeles, 90013 - 1 bed, 1 bath
ACTIVE$299,000
312 W 5th Street 221, Los Angeles, California 90013
1Bed
1Bath
610Sqft
27,285Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Investment Versatility: Strong income potential with HOA approval for both long-term and short-term (Airbnb) rentals, bolstered by proximity to major universities (USC, UCLA Downtown).
Top Cons:
Layout Discrepancy: Advertised as a 1-bedroom in records but explicitly a studio-type loft, which could lead to buyer confusion or disappointment for those expecting a separate bedroom.
Compared to the nearby listings
Price:$299.0K vs avg $575.0K ($-276,000)5%
Size:610 sqft vs avg 969 sqft14%
Price/sqft:$490 vs avg $54727%
More Insights
Built in 1923 (102 years old).
Condition: The property, built in 1923, is described as 'move-in ready' and appears well-maintained with functional updates. The kitchen features light wood cabinets and granite-look countertops, with seemingly newer stainless steel appliances. The bathroom has a modern-style vanity with a vessel sink and in-unit laundry. While clean and functional, the overall style of the kitchen cabinets, bathroom vanity, and floor tile suggests renovations that are likely 15-25 years old, rather than recent. The exposed concrete ceiling is a characteristic loft feature. It's not 'Good' as the renovations aren't recent enough across all key areas to meet that standard, but it's far from 'Poor' due to its maintained and updated condition.
Year Built
1923
Close
-
List price
$299K
Original List price
$299K
Price/Sqft
$490
HOA
$280
Days on market
-
Sold On
-
MLS number
P1-21696
Home ConditionFair
Features
Deck
Pool
View-
About this home
Lowest priced loft in Downtown and rental uses are allowed! Approved for VA funding (per VA website). Start your investment or homeownership journey at the SB Grand in the heart of Downtown Los Angeles. Located next to the Pershing Square Metro station and blocks away from incredible amenities, this 2nd floor loft enjoys a rare private patio, high ceilings and move-in ready condition. Property records show 1 bedroom but this is a studio type loft. The HOA fees($280/month) are among the lowest in Downtown Los Angeles and the building offers amenities including a rooftop deck and pool, gymnasium, 24 hour security at the front desk and utilities including water, water heating and services. Airbnb/Short term rentals are allowed by HOA. Proximate to USC main campus and the new UCLA Downtown campus on Spring Street.Parking available in the building for a monthly fee.
Price History
Date
Event
Price
08/17/06
Sold
$320,000
Condition Rating
Fair
The property, built in 1923, is described as 'move-in ready' and appears well-maintained with functional updates. The kitchen features light wood cabinets and granite-look countertops, with seemingly newer stainless steel appliances. The bathroom has a modern-style vanity with a vessel sink and in-unit laundry. While clean and functional, the overall style of the kitchen cabinets, bathroom vanity, and floor tile suggests renovations that are likely 15-25 years old, rather than recent. The exposed concrete ceiling is a characteristic loft feature. It's not 'Good' as the renovations aren't recent enough across all key areas to meet that standard, but it's far from 'Poor' due to its maintained and updated condition.
Pros & Cons
Pros
Investment Versatility: Strong income potential with HOA approval for both long-term and short-term (Airbnb) rentals, bolstered by proximity to major universities (USC, UCLA Downtown).
Strategic Downtown Location: Central Downtown LA location adjacent to Pershing Square Metro, providing unparalleled access to public transit and urban amenities.
Cost-Effective Ownership: Exceptionally low HOA fees ($280/month) for Downtown LA, which include a robust suite of building amenities (rooftop pool, gym, 24-hour security) and essential utilities.
Exclusive Outdoor Space: Features a rare private patio, offering valuable outdoor living space, complemented by high ceilings and move-in ready condition.
Market Accessibility & Value: Positioned as the 'lowest priced loft in Downtown' and approved for VA funding, making it an attractive and accessible option for a broad buyer pool.
Cons
Layout Discrepancy: Advertised as a 1-bedroom in records but explicitly a studio-type loft, which could lead to buyer confusion or disappointment for those expecting a separate bedroom.
Non-Inclusive Parking: Parking is available only for an additional monthly fee, representing an extra recurring expense and potential inconvenience for vehicle owners.
Limited Interior Space: The 610 sqft footprint is relatively compact, which may be a constraint for individuals desiring more expansive living areas or for couples.