315 E 8th Street 1106, Los Angeles, California 90014, Los Angeles, 90014 - 1 bed, 1 bath

315 E 8th Street 1106, Los Angeles, California 90014 home-pic-0
ACTIVE$599,000
315 E 8th Street 1106, Los Angeles, California 90014
1Bed
1Bath
890Sqft
7,341Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
Significant Tax Savings: The property benefits from a prestigious Mills Act designation, offering substantial property tax savings, which significantly enhances its long-term value and affordability.
Top Cons:
High Association Fee: The monthly association fee of $721.00 is substantial and could be a significant ongoing cost for potential buyers, impacting overall affordability.

Compared to the nearby listings

Price:$599.0K vs avg $412.0K (+$187,000)67%
Size:890 sqft vs avg 810 sqft67%
Price/sqft:$673 vs avg $53578%

More Insights

Built in 1925 (100 years old).
Condition: This loft unit, located in a historic building converted in 2005, presents as move-in ready with no immediate renovations required. The description notes it has been 'thoughtfully updated' and 'freshly painted,' which is supported by the images. The kitchen features modern stainless steel Bosch appliances, sleek gray cabinetry, and stainless steel countertops, all appearing in excellent condition. The bathroom boasts a contemporary vanity with a butcher block-style top, a vessel sink, and modern blue subway tiling in the shower area, also in very good condition. Polished concrete floors and exposed brick walls are consistent with the industrial loft aesthetic and show minimal wear. While the building conversion was 19 years ago, the unit's specific updates to key areas like the kitchen and bathroom, along with its overall well-maintained appearance, align with the 'Good' criteria of being extensively renovated within 5 to 15 years (for the unit's updates) and having systems that are well-maintained with minimal wear and tear.
Year Built
1925
Close
-
List price
$599K
Original List price
$599K
Price/Sqft
$673
HOA
$721
Days on market
-
Sold On
-
MLS number
25583737
Home ConditionGood
Features
Excellent View: City Lights
Deck
Pool
Spa
ViewCity Lights

About this home

Discover Unit 1106 at the historic Textile Building Lofts, where classic 1920s architecture meets modern urban living with the added benefit of the prestigious Mills Act designation, offering significant property tax savings. This freshly painted 890 sq. ft. corner loft has been thoughtfully updated while preserving its historic character. Restored exposed brick walls, 12-foot ceilings, and polished concrete floors create a striking industrial aesthetic, while expansive north-facing windows provide wide city views that stretch to the mountains, filling the space with natural light. The open layout includes a spacious Loft living area, a modern kitchen with stainless steel appliances, Full bathroom with a tub and the convenience of an in-unit washer and dryer with extra storage. Adding to its rarity, the unit comes with secure underground parking inside the building a coveted feature in a Downtown Los Angeles historic Building. As part of the Textile Building community, residents enjoy access to a rooftop pool and spa, a fully equipped fitness center, Basketball Court and the unique experience of living in a 1926 Gothic Revival landmark converted into lofts in 2005. Located in the heart of the Fashion District, you'll be just steps from acclaimed restaurants, boutique shops, nightlife, and minutes to LA Live, the Arts District, and Metro transit. Unit 1106 combines historic charm, mountain views, rare underground parking, and substantial Mills Act tax savings. An extraordinary opportunity in Downtown LA.

Price History

Date
Event
Price
03/19/20
Sold
$615,000
08/31/06
Sold
$527,000
Condition Rating
Good

This loft unit, located in a historic building converted in 2005, presents as move-in ready with no immediate renovations required. The description notes it has been 'thoughtfully updated' and 'freshly painted,' which is supported by the images. The kitchen features modern stainless steel Bosch appliances, sleek gray cabinetry, and stainless steel countertops, all appearing in excellent condition. The bathroom boasts a contemporary vanity with a butcher block-style top, a vessel sink, and modern blue subway tiling in the shower area, also in very good condition. Polished concrete floors and exposed brick walls are consistent with the industrial loft aesthetic and show minimal wear. While the building conversion was 19 years ago, the unit's specific updates to key areas like the kitchen and bathroom, along with its overall well-maintained appearance, align with the 'Good' criteria of being extensively renovated within 5 to 15 years (for the unit's updates) and having systems that are well-maintained with minimal wear and tear.
Pros & Cons

Pros

Significant Tax Savings: The property benefits from a prestigious Mills Act designation, offering substantial property tax savings, which significantly enhances its long-term value and affordability.
Unique Historic & Modern Aesthetic: This corner loft beautifully blends classic 1920s Gothic Revival architecture with modern urban living, featuring restored exposed brick walls, 12-foot ceilings, and polished concrete floors.
Prime Downtown Location & Views: Located in the heart of the Fashion District, it offers immediate access to acclaimed restaurants, shops, nightlife, and transit, complemented by expansive city and mountain views.
Rare Secure Underground Parking: The inclusion of secure underground parking within the building is a highly coveted and rare amenity in a historic Downtown Los Angeles property, adding significant convenience and value.
Extensive Building Amenities: Residents enjoy access to a rooftop pool and spa, a fully equipped fitness center, and a basketball court, providing a comprehensive luxury lifestyle experience.

Cons

High Association Fee: The monthly association fee of $721.00 is substantial and could be a significant ongoing cost for potential buyers, impacting overall affordability.
Limited Square Footage: With 890 sq. ft., the unit offers a compact living space, which may be a drawback for buyers seeking more expansive or traditional layouts, especially for a 1-bedroom unit.
Potential for Urban Noise/Congestion: While the central Fashion District location is a strength, it inherently comes with the potential for increased urban noise, traffic, and crowds, which may not suit all lifestyles.

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