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$550,000

Beds
1
Baths
1.0
sq ft
960

738 S Los Angeles St Unit 701, Los Angeles, CA 90014

738 S Los Angeles St Unit 701

Los Angeles, CA 90014

  • 13 days on market
Sitting atop the Historic Eckardt Building in the Fashion District in DTLA is Penthouse 1, a jaw-dropping, front-facing, one-bedroom and one-bathroom penthouse loft. Spanning nearly 1000 square feet, the Eckardt Penthouse 1 offers unobstructed stunning city views, a NYC-style fire escape/informal balcony, a large open floor plan, 12-foot ceilings, a wall of oversized Fleetwood windows, a deluxe suite of stainless steel appliances, including an updated Bosch dishwasher, a Bosch gas range and microwave, an updated LG french door refrigerator, as well as an updated in-unit Bosch washer/dryer, an updated HVAC system, and a rare and coveted in-building underground parking space. The open, connected and fluid floor plan invites you to entertain, work, cook, chat and/or relax all while flooded in natural light and with the gorgeous blue sky and cityscape as your backdrop. As the day closes, steal away to your private bedroom, enclosed by sustainable natural cork tiled sliding doors for privacy and sound proofing, and unwind and sleep. The variations in color and texture of the original concrete floors contribute significantly to the historic character of the penthouse loft. The Eckardt building is located in Santee Village and the HOA includes access to and use of the community's rooftop pool, three spas, putting green, basketball court, BBQ facilities, as well as a state-of-the-art fitness center. The building has secured entry and 24-7 live security personnel. Close to many of the city's best and most celebrated restaurants and cultural landmarks. Property taxes are significantly reduced, up to 60% to 70% off, through the Mills Act. HOA fees include water, trash and gas. The Eckardt Penthouse 1 offers the luxe life at an exceptional price, and it may make a prescient investment with the forthcoming FIFA World Cup 2026 and the Summer Olympics 2028 slated to be hosted in Los Angeles.

Details

Property type

Condominium

Est. home value

$823,662

Lot size

0.8797 acres

Price per sq ft

$573

Year built

1914

Monthly HOA fee

$921.61

Price History

11/08/2024
CLAW

CLAW #24461271

Listed
$550,000
+3.77%
05/27/2016
CLAW

CLAW #16109562

Sold
$530,000

Schools & Community

Neighborhood: 

Downtown

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

Community features: 

Gated

High school district: 

Los Angeles Unified

Negotiation Insights

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Seller could get up to

$133,611
Asking price
$550,000
Closing costs (~8% of asking)
-$44,000
Est. remaining loan balance
-$372,389
Cash to seller
$133,611

This is an estimate of how much the seller could receive at closing after paying off the outstanding mortgage.

Seller’s Loan History

Lender

Loandepot.Com Llc

Loan start date

April 2022

Original loan amount

$391,000

Est. remaining balance

$372,389

Interest rate

3.92%

Loan type

New Conventional, 30 year

Seller

Robert Todd Downing

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

Status: Active

Tomo last checked: 11/21/2024 at 7:00 PM

Listing updated: 11/16/2024 at 5:15 AM

Listed by: Aimee Stern, Douglas Elliman of California, Inc. Phone #: (424) 203-1800

MLS: CLAW #24461271

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