460 S Spring 1008, Los Angeles, California 90013, Los Angeles, 90013 - 0 bed, 1 bath
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460 S Spring 1008
Los Angeles, California 90013
ACTIVE
CONDITION: GOOD
0Beds
1Baths
510Sq Ft
30,796Lot Size
Property Price
LIST PRICE$328,000
EST. MARKET VALUE
$304,293
7% AboveMARKET VALUE
SUMMARY
This High-Potential Investment Opportunity is listed at a List Price of $328,000, positioned well above the $290,105 Fair Market Value by 13%. Despite the premium, the property offers significant long-term value through its Mills Act designation, providing potential property tax savings of up to 70%. Featuring a Condition Rating of 3, this Live/Work Loft includes soaring 10-foot ceilings and exposed brick. It is an ideal acquisition for Buy-and-Hold Investors or first-time buyers seeking an authentic, amenity-rich DTLA lifestyle.
Estimated Market Value
$304,293
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 |
|---|---|---|---|---|---|---|
★ 460 S Spring 1008 Subject 0 bd · 1 ba · 510 sqft · $597 | $328,000* List Price | 0 | 1 | 510 | $597 | - |
A 312 W 5th Sold 1 bd · 1 ba · 650 sqft · $462 · 0.1 mi | $300,000 | 1 | 1 | 650 | $462 | 0.1 mi |
B 312 W 5th Street 719 Sold 1 bd · 1 ba · 650 sqft · $554 · 0.1 mi | $360,000 | 1 | 1 | 650 | $554 | 0.1 mi |
C 420 S San Pedro Street 628 Active 1 bd · 1 ba · 707 sqft · $508 · 0.4 mi | $359,000 List Price | 1 | 1 | 707 | $508 | 0.4 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Good
TeardownExcellent
Property is move-in ready.
The property is located in a historic building converted to lofts circa 2008, placing the major renovation within the 10-20 year range. The kitchen and bathroom feature functional, well-maintained finishes including stainless steel appliances and granite countertops. Systems such as central HVAC and in-unit laundry are present and modern, making the unit move-in ready.
PROSSTRENGTHS & OPPORTUNITIES
- Significant Tax Savings
As a designated Mills Act property, this unit offers potential property tax savings of up to 70% annually, providing a substantial long-term financial benefit for the owner.
- Authentic Historic Character
The 10th-floor loft features soaring 10-foot ceilings, exposed brick, and oversized industrial windows, offering a bright and aesthetically pleasing living space in the iconic Rowan Building.
- Aggressive Seller Incentives
The combination of a recent $20,000 price reduction and the seller's offer to pay the first year of HOA fees creates a highly competitive entry point for the DTLA market.
CONSRISKS & DEFICIENCIES
- Limited Square Footage
With only 510 square feet of living space, the studio layout may be too restrictive for buyers seeking separate living and sleeping quarters or more storage.
- Additional Parking Costs
Parking is not included in the sale price and requires an additional monthly fee, which, combined with the $645 HOA fee, increases the total monthly carrying costs.
About 460 S Spring 1008
FINAL PRICE REDUCTION + SELLER-PROVIDED HOA FEES! Seller has reduced the price by an additional $20,000 and will pay the buyer’s first year of HOA fees—making this one of the most compelling opportunities currently available in DTLA. Don’t miss this exceptional 10th-floor loft in the iconic Rowan Building, a designated Mills Act property offering potential property tax savings of up to 70% annually. Bright, peaceful, and filled with authentic character, this true LIVE/WORK residence features soaring 10-foot ceilings, distinctive arched architectural details, exposed brick, and an entire wall of oversized industrial windows that flood the space with natural light throughout the day. The open, flexible floor plan is thoughtfully designed for both living and working, with a custom Murphy bed and built-in storage system that easily transforms the space from stylish home to inspiring workspace. Additional features include central heat and air, in-unit laundry, and a spacious bathroom with a deep soaking tub and shower. Residents enjoy an impressive collection of amenities, including a restored historic lobby, 24/7 front desk and security, controlled access, resident lounge, landscaped garden courtyards, plunge pools, BBQ areas, bike storage, and gated covered parking available for an additional monthly fee. Located in the heart of DTLA’s Historic Core, just moments from Grand Central Market, Little Tokyo, Gallery Row, Metro access, acclaimed restaurants, nightlife, and live music venues. Experience authentic Downtown LA loft living with exceptional historic character, modern functionality, and a newly improved value.
Property Details
Public Facts
- Property Type
- Condominium
- Year Built
- 1912
- Lot Size
- 30,796 Sq. Ft.
Interior
- Total Bedrooms
- 0
- Total Bathrooms
- 1 (1 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $645.0 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 2.0 |
| Baths | 1.0 | 2.0 |
| Square foot | 510 | 1,252.996 |
| Lot Size | 30,796 | 26,029.603 |
| Price | $328.0K | $778.5K |
| Price per sq ft | $643 | $629 |
| Built year | 1912 | 1981 |
| HOA | $645.0 | $676 |
| Days on market | 38 | 74 |
Pricing History
Listed for Sale
Oct 2, 2026
$328,000
Initial Listing
Sold
Apr 25, 2025
$355,000
Public Record
Sold
May 31, 2023
$422,000
Public Record
Sold
Jan 17, 2012
$255,000
Public Record