416 S Spring Street 609, Los Angeles, California 90013, Los Angeles, 90013 - 2 bed, 2 bath
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Los Angeles, California 90013
This Historic DTLA Residence is a Strong Value Opportunity, listed at $749,995—positioned well below the $805,860 Fair Market Value by 6%. This valuation gap provides $55,865 in Instant Equity for the buyer. Boasting a Good Condition Rating, the unit features an updated kitchen, custom built-ins, and two private balconies with Park and City Views. The building’s Mills Act designation offers substantial annual property tax savings, further enhancing this asset's financial profile. This is an ideal acquisition for Owner-Occupants or first-time buyers seeking urban character with immediate financial upside.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 416 S Spring Street 609 Subject | $749,995* List Price | 2 | 2 | 1,300 | $620 | - |
A 629 Traction Avenue 241 Sold | $750,000 | 2 | 2 | 1,240 | $605 | 0.7 mi |
B 629 Traction Avenue 609 Sold | $900,000 | 2 | 2 | 1,430 | $629 | 0.7 mi |
C 629 Traction Avenue 508 Sold | $820,000 | 2 | 2 | 1,210 | $678 | 0.7 mi |
D 629 Traction Avenue 102 Sold | $820,000 | 2 | 2 | 1,280 | $641 | 0.7 mi |
E 530 S Hewitt Street 539 Sold | $939,000 | 1 | 1 | 1,530 | $614 | 0.9 mi |
F 530 S Hewitt Street 154 Sold | $635,000 | 1 | 1 | 970 | $655 | 0.9 mi |
G 629 Traction Avenue 233 Active | $799,000 List Price | 2 | 2 | 1,240 | $644 | 0.7 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
The property is move-in ready and features several modern upgrades, including an updated kitchen, upgraded flooring, and custom built-ins. Although the building is a historic 1914 structure, the unit has been well-maintained with contemporary finishes, automatic blackout shades, and in-unit laundry. The presence of wall-mounted A/C units and the overall style suggest a high-quality renovation that is functional and stylish, though not a brand-new construction, placing it firmly in the 'good' category.
Perfectly situated in one of the most desirable pockets of DTLA, this spacious 2-bedroom, 2-bathroom residence offers 1,300 square feet of comfortable living, with dining, shopping, and entertainment just steps from your front door. The home is filled with natural light and 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 in the living and dining areas that blend character with modern convenience. Additional features such as an in-unit washer and dryer, multiple built-in A/C wall units, and exceptional storage a rare find in condo living with more than five closets thoughtfully distributed throughout, make everyday living effortless. Originally built as a hotel, this historic building has recently been renewed under the Mills Act, offering the potential for significant annual property tax savings due to its historic designation. Priced to sell, this home delivers space, charm, and practicality in one of LA's most dynamic neighborhoods.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 1.0 | 69% |
| Baths | 2.0 | 1.0 | 58% |
| Square foot | 1,300 | 1,175 | 62% |
| Lot Size | 10,337 | 33,543.5 | 23% |
| Price | $750.0K | $656.2K | 54% |
| Price per sq ft | $577 | $586 | 50% |
| Built year | 1914 | 1923 | 19% |
| HOA | $1201.0 | $761 | 96% |
| Days on market | 77 | 234 | 4% |
Feb 4, 2026
$749,995
Initial Listing
Dec 14, 2021
$835,000
Public Record
Dec 30, 2016
$880,000
Public Record
Mar 19, 2015
$845,000
Public Record
Mar 31, 2011
$485,000
Public Record