416 S Spring Street 609, Los Angeles, California 90013, Los Angeles, 90013 - 2 bed, 2 bath
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416 S Spring Street 609
Los Angeles, California 90013
ACTIVE
CONDITION: EXCELLENT
2Beds
2Baths
1,300Sq Ft
10,337Lot Size
Property Price
LIST PRICE$719,995
EST. MARKET VALUE
$751,334
4% BelowMARKET VALUE
SUMMARY
This Strong Value Opportunity is a Turnkey Condominium listed at $719,995, positioned well below the $751,335 Fair Market Value by 4%. This valuation gap provides $31,340 in Instant Equity. Featuring an Excellent Condition Rating with modern renovations, the unit offers Mills Act tax savings, two private balconies, and custom built-ins. Its prime DTLA location and high-quality finishes make this an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a sophisticated, tax-advantaged urban residence.
Estimated Market Value
$751,334+$31,339 Equity Potential
Based on Realkey algorithm analyzing recent comparable sales in Los Angeles.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 416 S Spring Street 609 Subject | $719,995* List Price | 2 | 2 | 1,300 | $578 | - |
A 500 Molino Street 206 Sold | $625,000 | 0 | 1 | 1,340 | $466 | 1.0 mi |
B 530 S Hewitt Street 343 Sold | $865,000 | 1 | 1 | 1,512 | $572 | 0.9 mi |
C 825 E 4th Street 310 Sold | $815,000 | 2 | 2 | 1,564 | $521 | 0.7 mi |
D 500 Molino Street 114 Sold | $750,000 | 1 | 1 | 1,610 | $466 | 1.0 mi |
E 629 Traction Avenue 241 Sold | $750,000 | 2 | 2 | 1,240 | $605 | 0.7 mi |
F 416 S Spring Street 905 Active | $634,900 List Price | 2 | 2 | 1,100 | $577 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Excellent
TeardownExcellent
Property is new construction or fully renovated.
Despite the 1914 original build date, the property has undergone a high-quality modern renovation. It features an updated kitchen, upgraded flooring, and new split-system HVAC units, placing it in mint, move-in ready condition.
PROSSTRENGTHS & OPPORTUNITIES
- Mills Act Tax Savings
The property qualifies for the Mills Act, offering significant property tax savings of 30% to 70%, providing a substantial long-term financial incentive for the owner.
- Exceptional Storage and Layout
With over five closets and custom built-ins throughout 1,300 square feet, this unit offers rare and extensive storage capacity that is highly uncommon for Downtown Los Angeles condo living.
- Private Outdoor Space
The residence includes two private balconies overlooking a park, providing a rare indoor-outdoor connection and desirable views in a dense urban environment.
CONSRISKS & DEFICIENCIES
- High Association Fees
The monthly HOA fee of $1,201 is relatively high, which significantly increases the monthly carrying costs and may impact overall affordability for some buyers.
- Historic Building Considerations
Built in 1914, the property may present challenges associated with century-old infrastructure, potentially requiring more specialized maintenance compared to modern constructions.
About 416 S Spring Street 609
REDUCED AND READY TO SELL! This property falls under the Mills Act, offering property tax savings of 30% to 70%. Perfectly situated in one of the most desirable pockets of DTLA, this spacious 2 bedroom, 2 bathroom residence offers approximately 1,300 square feet of comfortable living, with dining, shopping, and entertainment just steps from your front door. Filled with natural light, the home features two private balconies overlooking the park next door, creating an ideal indoor outdoor connection. For added comfort and flexibility, automatic blackout shades are installed in both the primary bedroom and living room.Interior highlights include an updated kitchen, upgraded flooring, and custom built ins throughout the living and dining areas, blending character with modern convenience. Additional features include a new in-unit washer and dryer, multiple built in A/C split units, and exceptional storage, a rare find in condo living, with more than five closets thoughtfully distributed throughout the home. Priced to sell, this home delivers space, charm, and practicality in one of LA's most dynamic neighborhoods.
Property Details
Public Facts
- Property Type
- Condominium
- Year Built
- 1914
- Lot Size
- 10,337 Sq. Ft.
Interior
- Total Bedrooms
- 2
- Total Bathrooms
- 2 (2 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $1201.0 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 2.0 | 2.0 |
| Baths | 2.0 | 2.0 |
| Square foot | 1,300 | 1,219.385 |
| Lot Size | 10,337 | 27,236.074 |
| Price | $720.0K | $800.2K |
| Price per sq ft | $554 | $650 |
| Built year | 1914 | 1979 |
| HOA | $1201.0 | $685 |
| Days on market | 26 | 72 |
Pricing History
Listed for Sale
Aug 14, 2026
$719,995
Initial Listing
Sold
Dec 14, 2021
$835,000
Public Record
Sold
Dec 30, 2016
$880,000
Public Record
Sold
Mar 19, 2015
$845,000
Public Record
Sold
Mar 31, 2011
$485,000
Public Record