DOWNTOWN LANDMARK CONVERTS TO CONDOS: A GUARANTEED SUCCESS?

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The last time an apartment building in downtown Los Angeles was converted to condominiums was 2006 — shortly before the housing bubble burst.

But now, with young professionals pouring into the up-and-coming neighborhood, an acute shortage of condos has prompted the owner of a landmark Art Deco-style apartment tower to put 74 units up for sale.

Apartments at the Title Guarantee Building rent for as much as $6,100 a month for a penthouse, but real estate investor Admire Hill figures it can make even more money selling the units. Prices are expected to start at $500,000 for a 750-square-foot unit at the building at 5th and Hill streets.

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Keith Kaplan

CalBRE #01933707
Sothebys International Realty
9255 Sunset Blvd.
West Hollywood, CA   90069

keith.kaplan@sothebyshomes.com

310-646-7791

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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