Bird Streets Blog

132 N Swall Dr

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One Thirty-Two
132 N Swall Drive
Los Angeles CA 90048

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One Thirty-Two North Swall is an ultra modern 14 condo building in Beverly Center. Built in 2018, by a great local developer, this is a rare find in Beverly Center where there are very few new construction buildings, and even less that are modern.

Visiting 132, you might feel like you got lost and wandered into an open house in the Hollywood Hills! This building has the Best Kitchens- you could feel proud posting them on Houzz.com. But unlike that Hollywood Hills Dreamhome, you don’t have to shell out $5M! You can get a condo at 132 N Swall for $1.6M-$2.5M, and $4M for one of the two penthouses.

Finally, great design is within reach for the high functioning and overachieving professional. And you don’t have to waste time on yard work or maintenance, which is handled by the building’s property management company.  Because in today’s world there is precious little free time, and maybe you’d rather be out socializing. The convenient location saves you more time too- with four pedestrians oriented Blvds, and three major cities, Beverly Hills, West Hollywood, and Beverly Grove that crisscross this location like a train depot.  More time you could be spending with the people you care about or doing what you love.

For all of the Wow inside, the outside of this building is quite subdued. If I were to compare luxury brands, it has the Mercedes/BMW vibe and less the LAMBO, more the Patek Phillip and less the flashy diamond encrusted watch. The Lobby is rather unassuming, with no seating area. The building has no Pool, no Gym. This keeps HOA dues extremely reasonable. With 132 Swall, You Get everything you want, and nothing you don’t.

Location

 

Real Estate

All of the floorplans at 132 N Swall are single-story, so no stairs. There is a mix of 2brs (8) and 3brs (6)- with sqft ranging from 1,300 to 1,800 for floors 1-3 and 2,500 sqft for the penthouses. Buyers will really love the finishes, which aren’t easy to find in Los Angeles at this price point.

Tour the Penthouses:

This building gives buyers the Huge open Room that everyone is looking for right now. There is a massive combined living/dining/and kitchen in every unit. The kitchens are top notch with Meile appliances, and you get extra goodies like a coffee maker and wine cooler to complement the standard package of custom panel fridge, quiet dishwasher, and induction cooktops.  The marks of high-quality finishes are plain to see, with heavy solid wood doors (42 inch wide front d00r), chrome door handles with leather grips and Anderson wood windows. Huge pieces of Calacatta Marble are in the bathrooms and kitchen and Grohe faucets. The Frameless shower doors in 2nd bathrooms have a fun barn door slider which I haven’t seen before. Recessed lighting is LED which is nice because those bulbs last for 7-8 years and changing the lighting can be difficult with such extra high ceilings.

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One of the interesting incentives the developer is offering is for owners to pick their own flooring options. There are a variety of Wide plank oak wood floors to choose from, or buyers can pick any floor covering they like. The developer has a selection you can choose from and one of the options is herringbone which is great if you want a pattern look.

Another thing that stands out to me is the developer went all out in the closets. The Master Closet is a Minotti type of closet. And every closet is finished.  Most of the times, developers leave the closets to the buyer. Really impressed with the closets.

A building this nice hasn’t been built in the neighborhood since La Terrasse or 432 N Oakhurst. The developer want’s only a modest premium above comparably sized condos in the area. Pricing starts at $1.6M and goes up to $2.5M for the (12) 2br condos on floors 1-3. There are four condos on each of these floors. The top floor is a true penthouse floor with two reflected penthouse floor plans that are 2,500 sqft that has starting prices at 4M. Pricing is $1,000 sqft to $1,300 sqft for the 1,500-1,800 sqft  2BR floor plans, and $1,500 sqft for Penthouses.

One of my favorite features of the Penthouses is a huge outdoor private patio.

Every condo has a balcony, but it’s really the penthouses and the ground level condos that have large balconies. The balconies on the 2nd and 3rd floors are small.

Amenities

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Lobby

Elevator

Parking & Laundry

Laundry is inside the condo in a laundry room that can fit a stackable.

Parking ???

Home Owners Association

Homeowner Association not Created yet

HOA dues Monthly Cost?

HOA dues cover?

Owner Pays?

Any special assessments?

Pet Policy?

Rental Policy?

EQ Insurance?

CCRs?

Building Reserves?

Special move in instructions?

Can you have BBQ on the balcony?

Management Company?

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Los Angeles Real Estate Floor Plan Companies

Floorplans are a great marketing tool, and not just for new construction buildings, they cost $250-$350 and can be in B&W or Color. I find in Los Angeles we get a lot of international buyers and buyers from out of state. Having floorplans to go along with listings marketing materials gives prospective buyers a chance to see the property in a way that is not possible with photos. Buyers can visualize a property’s space, room dimensions, and how rooms relate with one another. In this way, they can see if a property’s layout works for them before ever setting foot in the property. I can’t tell you how many times I have seen prospective buyers in escrow with their measuring tape trying to make their own floorplan from scratch to check if their furniture will fit. Why not do it for them? They like that.

For complex properties with nontraditional floorplans, like architectural properties, or hillside properties with three or more stories, sometimes floorplans can be confusing and are not much use. Keep in mind that floorplans are just estimates, so do not rely on them for determining square feet.

Floorplans cost about $250-$350 dollars.

Floorplan Companies:

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Floor Plan Drawings
floorplandrawings.com

443-621-3024
annaellisonmail@gmail.com

blankFloorplan drawings was founded by Anna Ellison in 2013. Anna is located in NELA but will travel pretty much anywhere in LA. She does beautiful full color floor plans, that include landscaping. She also does more traditional B&W. Costs $200

Planomatic 
planomatic.com
hello@planomatic.com
866-599-7526

 

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Floorplan Visuals
floorplanvisuals.com
LOS ANGELES
info@floorplanvisuals.com 
213-438-9640

Floorplan visuals is a large company- they do B&W and Color. Floorplan cost ranges from $200-$400. One cool thing for developers is they can do renderings as well. I love their color floorplans!

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Paul Guy
818-314-2150
gpaulguy@aol.com

Paul is an Architectural Draftsman so he can create as-built plans for ADU conversions or legalizations, and he can measure legal sqft size. Floorplan cost is $200

 

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Rest Floorplans
Cathy Chiappetta
rest4plans.com
626-840-1717
cc4rest@gmail.com

Floorplans cost starts at $130 for B&W, $160 for color, and $200 for 3D plans (pretty new feature). Rest is one of the most popular and original floorplan companies in Los Angeles. You will see their floorplans frequently in the MLS. 

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Todd Goodman La Light Photo
www.lalightphoto.com/services
310-994-3050
todd@lalightphoto.com

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Ike

626-298-1220

Ike is trained as an architect so his floorplan SQFT is very accurate. Ike lives in Los Feliz area and works a lot on the eastside for floorplans. He has recently started to experiment with color, which is $25 extra. Minimum cost is $150 for floorplan, he charges $60/1,000 sqft. Ike does about 15 floorplans a week so he is pretty booked up, you will be lucky if you can get him. I personally love his trees!

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Phil Coombes
626-644-3227 
Phil@AgentPhil.com 

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Luxury Level
luxlvl.com
773-370-5070
Pricing varies from $150 to $300 depending on size of the house
Floorplans
Yola does floorplans

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EGP Photography
323-928-2241
www.propertylistingspro.com
INFO@EGPIMAGING.COM

 

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Lasertech Floorplans (Commercial Real Estate Floorplans)
lt-fp.com
250-984-1201
sorser@lt-fp.com

Lastertech is owned by Steve Orser. They Measures sqft to commercial standards for BOMA. The minimum size is 5,000 sqft that is roughly $650-$700

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423 S Arnaz Dr | Palazzo Arnaz Condos

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Palazzo Arnaz
423 S. Arnaz Dr
Los Angeles CA 90048

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Palazzo Arnaz is a newer construction, midrise condo building in Beverly Center neighborhood of Los Angeles. Built in 2008, Palazzo Arnaz has 14 condos on four floors. Designed in the Italian style, the building has a neoclassical Greek revival style with such architectural details as an open-air arcade and ground level “palazzo” with a fountain and Mediterranean palm trees. Palazzo Arnaz condos are great for buyers who want medium size, newer construction, low HOA (~$400/mo.), a safe neighborhood, and a central Westside location.

LOCATION

Palazzo Arnaz is located just south of Burton and West of Robertson in a very safe Beverly Hills Adjacent neighborhood, with gated parking and controlled access. Being situated in between West Hollywood, Beverly Hills, and the Grove/Farmers Market- there are lots of shopping, restaurant, entertainment and activities nearby. The Cedars Sinai Hospital and Beverly Center Shopping Center are two major influencers in this area. If you are willing to cross Burton North then there are a lot of places to walk to on 3rd, however this section of Robertson is mostly commercial, so you will probably need to drive for most trips.

REAL ESTATE

Record Sale? $885,000 8/14/2009

Turnover? 1 condo per year or ~6%

Appreciation? 4%-5%

Floor plans are all single story, except for the penthouse level which has a loft. There are (12) 2 bedrooms and (2) 3 bedrooms. The 2 Bedrooms range in size from 1,200 sqft to 1,500 sqft, and the 3bedrooms are 2,000 sqft. Stacks 01 and 02 are the smaller 2bedrooms, and stacks 03 and 04 are the larger units. 01 and 04 stacks face the street and the 02 and 03 stacks face the rear which backs up to an ally.

The developer installed dark distressed hardwood flooring in the living rooms, that contrast with the light walls. Living rooms have a combined dining room that comfortably seats 4-6, and a gas fireplace and balcony. The kitchen is traditional with maple shaker cabinets, granite countertops, and travertine ceramic tiles floors and backsplash. There is a peninsula that can be used as a buffet. Original Appliances are all stainless steel. A stacked in unit Washer and dryer is located in a closet in the kitchens. Central Heat and Air

The condos have their own master bedroom suite, with private master bedroom, ceiling fan, and walk-in closet. The flooring in the bedrooms is carpet. The master bathroom has a double vanity, separate shower, and tub. The shower has a frameless shower door and a rainfall showerhead.

One of the quirkier things about these condos floorplans is an office nook in the hallway which you can use to have a computer or a small desk.

Pricing

$800,000 – $950,000

Amenities 

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Rooftop Deck

Elevator

Controlled Access

Parking & Laundry

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Laundry is in-unit in a laundry closet in the kitchen with room for a stacked washer and dryer.

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Each condo has 2 parking spaces in a gated and secure subterranean parking garage – most of the spaces are tandem but a few are side by side. There is no extra storage in the parking garage. The building has 7 guest parking spaces.

Home Owners Association

HOA dues Monthly Cost? $400/mo.

HOA dues cover? Common Area Maintenance, Building Insurance,  Water & Trash

Owner Pays? Condo Insurance, Electric, Gas, Internet, Cable

Any special assessments? No

Pet Policy?

Rental Policy?

EQ Insurance? No

Building Reserves?

Special move in instructions?

Can you have BBQ on the balcony?

Property Management company?

LBPM
4730 Woodman Avenue
Suite 200
Sherman Oaks, CA 91423
(818) 981-1802

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107 N Swall Dr | Swall Promenade

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Swall Promenade
107 N Swall Drive
Los Angeles CA 90048

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Swall Promenade is an upscale 22 unit 4-story newer construction condo building in Beverly Center. Built in 2006, the condos are spacious and new. The building is amenity light for those buyers who only want to pay for what they use and don’t need a pool or gym. HOA dues are low, under $500/mo. With prices $100,000 to $200,000 below comparable Beverly Hills condos, this is a great option for Beverly Hills buyers who don’t need the Beverly Hills public schools.

LOCATION

Swall Promenade is Beverly Hills Adjacent, so you will have a very similar vibe living here as in Beverly Hills proper. Clean streets, strong property values, and great safety. Swall Promenade has a central location and offers easy convenience with the cities of West Hollywood (5 mins), Beverly Hills (5 mins) and Hollywood (10-15 mins) all just a short distance away.

The Cedars-Sinai Hospital is a big influencer in the area, boosting the neighborhood economy and housing a lot of nurses and doctors wanting to live in Beverly Center so they can walk to work.

The Beverly Center Shopping Mall is currently undergoing a $500M renovation, it is one of the largest shopping centers in LA and a great place to stroll on a Saturday.

These condos have impressive kitchens with complimenting dining rooms, but if you don’t feel like breaking out your spatula and apron, there are a plethora of dining choices on Robertson and 3rd. Chi Chi the Ivy is always buzzing. For lunchtime try Lemonade on Beverly. I personally live on Starbucks, which is walking distance on Robertson and Beverly. For groceries, Bristol Farms on the corner of Doheny and Beverly is close or across the street from it isBeverly Hills Ralphs. You can go to the Beverly Hills Farmers Market on the weekend to pick up some fresh local produce.

REAL ESTATE

Appreciation? 4%-5%

Turnover Ratio? 6%-7%- 1 condos or 2 condos a year

Record Sale? $1,240,000 11/3/2017

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All the floorplans in Swall Promenade are single story. Condos are 2 Bedroom and 2.5 baths that range in size from 1,700 sqft to 1,800 sqft. Stacks 06,01, and 02 faces Swall, and stacks 05,04,03 face the rear of the building.

Original kitchens featured Stainless Steel Miele Appliances, Italian Scavolini Cabinetry, and black granite countertops and have gas stoves. Large Living Rooms feature rich traditional Dark Hardwood floors.

Both Bedrooms have walk-in closets. The floor plans have a master suite with separate tub and shower and double vanity. Each condo has a small 50 sqft balcony except for the 04 stack that has a 150 sqft balcony.

Pricing

2Br/2.5Bath
1,700 sqft – 1,800 sqft
$1,000,000 -$1,200,000

Amenities

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Lobby

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Recreation Room (Sink area and billiard table)

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Outdoor Sundeck with BBQ

Parking & Laundry

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Laundry is inside, in a laundry room off the front entry door.

Each condo gets 2 parking spaces in the garage. There are 10 guest parking spaces.

Home Owners Association

HOA dues Monthly Cost? $450/mo.

HOA dues cover? Water, Trash, Common Area Maintenance, Building Insurance, Reserves

Owner Pays? Electric, Gas, Internet and Cable, Condo Insurance

Any special assessments?  No

Pet Policy?

Rental Policy?

EQ Insurance?

Building Reserves?

Special move in instructions?

Can you have BBQ on the balcony?

Management Company?

Golden Estates Management
(888) 999-6575
12734 Branford Street, Suite 3
Arleta, CA 91331

 

 

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320 S Willaman Dr | Willaman Mews Condos

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Willaman Mews
320 S Willaman Drive
Los Angeles CA 90048

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320 S Willaman is a 16-unit 4-story condo building in the Beverly Center neighborhood of Los Angeles. Built in 2002, in a Contemporary Mediterranean style, this is one of a handful of newer construction buildings in Beverly Center. Check out Newer construction neighbors: 305 Arnaz, 325 Arnaz, 107 N Swall, for a couple others. This location has good walkability and is close to Cedars Sinai. The building has very Low HOAs at $370/mo.

LOCATION

320 S Willaman is right next to Cedar Sinai hospital and 3rd Street. Not feeling like the daily special from Cedar Sinai’s cafeteria? There are a few 3rd street restaurants for something fancier. I love Le Pain Quotidien  on Robertson for brunch.

Trader Joes in the ground level of 8500 Burton Way is 5 minutes away. I really love Larder restaurant there for lunch. Want to have some fun? The Bazaar by Jose Andres and Rooftop Pool of SLS hotel are legendary.

The Beverly Center Shopping Center Food court is getting a complete makeover with the $500 million renovations at the mall. Eggslut is opening a new location there. I usually shop Salvador Ferragamo for business shoes when I am at the Beverly Center, there is also Macy’s, Nordstrom (and Nordstrom’s rack across the street), a Ferrari store, An apple store, tons of high-end retail.

REAL ESTATE

Pricing? 2Br are selling between $850,000 and$950,000

Turnover Ratio? About one condo a year or 6%

Record sale? $860,000 4/26/2017 (off-market)

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320 S Willaman condos are single story floor plans, 2br/2ba, between 1,200-1,300 sqft. The Penthouse houses have extra high ceilings. Every condo has a balcony. Stacks 01, and 02 face the street. Stacks 03 and 04 face the back. Stacks 02 and 03 are adjacent to the alley.

Kitchens have traditional appeal with real wood Tuscan medium stain recessed panel cabinets and bull nose black and brown granite countertops. Some homeowners have painted or re-stained their cabinets for a twist. Gas Appliances. The kitchens have deep double sink with looping faucet. The kitchen appliances are matching set of stainless.

Living Rooms are open to the dining room. Each living room has a gas fireplace and a large closet where a stacked washer and dryer is located. Wood Flooring or laminate flooring floors in the living rooms and dining rooms. The balcony slider and other windows have plantation shudders, and there are recessed lighting and fire sprinklers in the ceilings.

The bedrooms are carpeted. Each condo has a Master bedroom suite that is oversized and has its own private master bath. The master bedroom has a walk-in closet, and the bathroom has a double vanity and separate tub and frameless shower. The bath is perfect for your bathing ritual, and you don’t have to worry about using the tub where people stand with their dirty feet like in combination shower tubs. The Master Bathroom is all marble.

Willaman Mews Amenities

Because of very low HOA dues, there are not many amenities.

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-Lobby

-Elevator

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-Storage Space

Willaman Mews Parking & Laundry

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Laundry is inside the condo in the large hallway closet near the entrance. Laundry is a stacked washer dryer.

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Each condo gets 2 parking spaces in a gated above ground and gated subterranean garage. Condos on the upper floors have their parking spaces in the street level garage- condos on the 2nd and 3rd floors have parking in the subterranean garage.  How many guest parking?

Home Owners Association

HOA dues Monthly Cost? $370/mo.

HOA dues cover? Water, Trash, Building Reserves, Building Insurance

HOA does exclude? Electric, Gas, Condo Insurance, Internet, Cable

Any special assessments? No

Pet Policy? No restrictions

Rental Policy? Leases must be 30 days or longer, no other restrictions.

EQ Insurance?  Yes, 320 S Willaman has Earthquake insurance, however, its insurance premium not covered in regular HOA Dues. Owners pay a one-time special assessment every year for EQ Insurance. Annual Cost Approximately $850

Reserves?

Special move in instructions?

Can you have BBQ on the balcony? No

Who is Management company?

Pegasus Management
310-441-0779

 

Do you have any more questions? Are you interested in looking at the Willaman Mews condos? Please click the button below and I will be in touch!

 

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4411 & 4455 Los Feliz Blvd | Los Feliz Towers

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Los Feliz Towers
4411 & 4455 Los Feliz Blvd
Los Angeles CA 90027

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Los Feliz Towers is a 14-story twin-tower highrise in Los Feliz. Built in 1966 by Wilsen Construction & Development Co. at an original cost of $8M, Los Feliz Towers was later converted into condominiums in 1979 by W&K Co. The property sits on 2.15 Acres and is the only Highrise in Los Feliz.

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Los Feliz Towers classic 60’s midcentury modern architecture is thanks to design firm Daniel, Mann, Johnson and Mendenhall. There are 196 condos total with a penthouse level.

Location

Los Feliz Towers is a mere 5 minutes from Los Feliz Village on Hillhurst. Its location has excellent walkability. There are two grocery stores on Hillhurst: Lassens (2080 Hillhurst) and Albertsons (2035 Hillhurst). Nearby Gelsons and Trader Joes on Hyperion offer more grocery shopping options.

My favorite restaurant in Los Feliz Village is Little Doms. Another great dinner spot, Messhall Kitchen, is on the corner. Need a place to sit and sip with your laptop and finish that script you’ve been working on? Get caffeinated no matter whatever your bean is- Blue Bottle, Coffee Bean and Tea Leaf, and Starbucks at these coffee thirst quenchers.

Vermont Blvd one block over has Fred 62, another Los Feliz staple. Want to catch a movie? Hip Vista Theater has a blockbuster opening or screening a classic. Debatabley, Frank Lloyd Wrights best LA work: Barnsdale Art Park has art classes, tours, and an outdoor summer movie series.

Griffith Park, larger than New York Central Park, has over 600 miles of hiking trails and paths to explore. Some of my favorite attractions at Griffth are the Observatory, the LA Zoo, and the Greek Theater. Each year the Haunted Hayride puts on a great for the month of October.

Real Estate

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Los Feliz Towers has two towers, the West Tower (4455) and the East Tower (4411). The floorplans are all single story. There are 8 floorplans with (3) floorplans (’01,’02,’08) that are 2 bedrooms and 5 floorplans (’03,’04,’05,’06,’07) that are 1 bedrooms. The penthouses are on the 14th floor and each building has 4.

Out of the total 196 condos:

(8) Penthouse 2 bedrooms 2.5 baths
1,750 sqft – 2,000 sqft
$1,000,000+

(48) 2 bedrooms 1.5 baths
1,000 sqft – 1,100 sqft
$700,000-$850,000

(140) 1 bedrooms 1 baths
800 sqft – 1,000 sqft
$500,000-$650,000

Even number condos face the back, have less street noise, and have views of Griffith Park and Los Feliz Estates. Odd Number condos face Los Feliz Blvd, and have views of Silverlake, Echo Park and Downtown.

Each condo has a ~50 sqft balcony for outdoor space and to enjoy the views. Inside the condos, ceilings are 9 foot high with floor to ceiling sliding glass windows that make the units light and airy.

Kitchens have gas stoves and a maids door. There is a dining room that seats 4-6.

Each bedroom has a reach in closet, sorry no walk in closet. The original ceilings were popcorn, although many owners have smoothed them. The HOA allows wood floors, although flooring can be carpet, wood, exposed concrete or tile.

Record sale:
Penthouse $1,200,000 9/30/2014  #1402

Turnover Ratio?
4% about 8 a year

Los Feliz Towers Amenities

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-Olympic Sized Heated Pool and “La Plaza De Feliz” Sun Deck

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-Gym

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-Lobby with 24 Doorman/Security Officer

-Storage Room

Parking and Laundry

There are five levels of parking in a subterranean parking garage. One bedroom condos get 1 parking space, and 2 bedroom condos get 2 parking spaces. Guest Parking?

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Laundry is community laundry. Is laundry allowed to be installed in the condo?

Homeowners Association

Front Desk Phone Number
323-666-5700

HOA dues Monthly Cost? $600/mo. to $800/mo.

HOA dues cover? Water, gas, trash, building insurance, staff salaries, reserves and basic cable

Owner Pays? Electric, Internet, Cable, Condo Insurance

Any special assessments? Yes, Building recently installed back up emergency power generators, replaced elevators, repaired concrete, and exterior painting

Pet Policy?

Rental Policy?

EQ Insurance?  No

Building Reserves?

Special move in instructions?

Can you have BBQ on the balcony?

Management company?

 

Need more questions answered? Want to see the property? Please call me at (310) 388-7332 or click the button below to get started!

 

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Pocket Listing

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What is a Pocket Listing?

A Pocket Listings is a Real Estate Listing that is not listed for public sale on the open market. Pocket listings are not uploaded into the Multiple Listing Service (MLS).

Pocket listings can also be called: Private Sale, Off-Market listings, Quiet Listings, Hush Listings, Not in MLS, Sold Before Processing, or Whisper listings.

M.L…Say What?

MLS is real estate industry lingo. The MLS is the public marketplace for real estate listings. It is controlled by a Local Board of Realtors and is an electronic database that member agents access to share listings.

Los Angeles County has several different “MLS-es” (made up that word). I am a member of the Combined Los Angeles Westside (CLAW) MLS. There is also the Southland Regional Association of Realtors (SRAR) for the Valley, and CRMLS for Orange County. It is common for surrounding regions to have reciprocity with one another- so if an agent in Los Angeles travels down to Orange County for business they can access Orange Counties MLS and vice versa.

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From the MLS, listings are syndicated to the web. Those listings go to big consumer websites like Trulia, Zillow, Redfin, Movoto, Estately, realtor.com, and 1000’s of other sites- including local real estate agent’s own personal websites (like this one!).

The public has direct access to listings in the MLS, and can shop from home, whenever they want, without the help of an agent.

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MLS Listings are worldwide. They reach anyone with an internet connection. According to Google, about 47% of the world uses the internet now. The ones that don’t have an internet connection, probably aren’t buying your property, unless they are on a meditation retreat in Tibet. People on the complete opposite side of the planet can see your listing once it’s in the MLS! I have received calls on my listings from all over the world- England, France, Dubai.

I’m a Seller- Do I have to list my property for sale in the MLS?

No- you do not have to list your property on the MLS. There is no law that requires a seller to sell their home publicly or even hire an agent.

The vast majority of homes are listed publicly, but for some owners, they prefer to pocket list. If you have a tenant with quite a bit of time on their lease left or a very expensive/unique property that only has a very small number of potential buyers, or you just don’t want that level of exposure from a public listing on your home you might want to consider pocket listing. Even if you add a “Do Not Disturb Occupant” rider to your For Sale Yard Sign, sure as day follows night, some nosy homebuyer will wander around your property or even knock on the door with no appointment!

How Common are Pocket Listings?

On Average, about 85% of the properties in Los Angeles sell on the open market, so the vast majority of home sales are public.

Most of the time, it is in the seller’s best interest to list their home on the open market, to get the most exposure, and the highest sales price, but there are exceptions.

Market conditions have the greatest impact on the number of pocket listing sales that occur each year. During Buyer Markets, where inventory is high and it is difficult to sell, the number of pocket listings decreases to 10% or less. During Seller’s Markets, where inventory is low and there is heavy competition among buyers, the number of pocket listings increases, as high as 30%.

I’m a Seller- Should I pocket list?

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Advantage- Privacy

Privacy is the #1 advantage of Pocket Listing. If you don’t want your neighbors, family members, friends, tenants, boss, the media, or everyone else under the sun knowing your business and what you are up to then pocket listing might be right for you. If you are embarrassed about the condition of your home, or the situation that is causing you to sell, a pocket listing will help keep a lid on it.  For celebrities, that live their lives in the limelight and headlines, sometimes pocket listing can help lower their profile.

Disadvantage- Less Exposure

Since you are exposing the listing to less potential buyers, this may translate into a lower sales price. It is difficult to get multiple offers with pocket listings which is one of the best ways to get prices over asking. On average, I find pocket listings sell for slightly less than listings in the MLS- about 5% less – sometimes as much as 10% less if rushed and in poor condition. But on the other hand, I have seen pocket listings sell for market or even more than market if the property was very desirable or unique. The fact is there is less exposure with a pocket listing- sometimes this affects the price and sometimes it doesn’t.

Advantage- Security

If you own some really expensive things, like a Rembrandt, Renoir, AND a Picasso painting, or have the hope diamond in your jewelry box- you might be nervous showing your home to John Q Public. Pocket Listings give you more control over who sees your house. You can choose to only show your home to prequalified buyers.

Disadvantage- Underpricing

Not all buyers are equal. Sometimes you will encounter a highly motivated buyer that has no problem paying a big premium to get what they want. By limiting showings, you might miss this buyer. In addition, since it’s hard to get multiple offers, the sales price of pocket listings rarely goes above list.

When you pocket list, you might not get the best price from your buyer, or the highest price for your property. For properties that are unique and very hard to value- you might accidentally sell below the market value. This can happen in rapidly changing markets during the transition between down markets and real estate booms. A real estate friend of mine says, “you can never list a property too low”. I have found this to be true for public listings. Buyers will step in and bid below market listings up to the market value and beyond. But, you don’t have this same protection with a pocket listing. You as a seller must rely heavily on your real estate agent’s accurate assessment of the property’s true value.

Advantage – Less Preparation 

If you want to sell your property quick, or don’t have the budget to prepare it for sale- pocket listing might be a good solution. Some sellers take months getting their home ready for sale- painting, staging, landscaping, decluttering and packing, making repairs. All of these things can add up to a large expense. If you can sell the property as it is, without having to do anything, you can save precious time and money. Pocket listings don’t have as a high of an expectation on appearances.

Disadvantage- Surprise

A lot of pocket listings are listed early before a seller is actually ready to sell. If the property sells quickly, like in a few days with a cash offer- the owner might not have a plan in place for where they are going to move next. Hopefully, you can get extra time with a leaseback if you need it. I have heard of pocket listing sellers having to rent a hotel because they sold so fast, which is a good problem to have I suppose but it can be stressful if you don’t know where to go.

Advantage- No Days on Market/ No Listing History

This is a big advantage of pocket listing. When you are listed publicly, the clock is your enemy, and it’s always ticking. Every day that goes by without an offer means you will probably sell for less money. Buyers get very suspicious of listings that have lingered on the market for several months. With a pocket listing, you don’t have to deal with questions like- have you gotten any offers yet? why hasn’t the property sold yet? Implying there is something wrong with your property. You are free to move at your own speed.

Disadvantage- Longer Sale Time

Fewer showings and less exposure, mean longer sale times. Although the number of days it takes you to sell won’t count against you, it will probably take longer. Want to jumpstart the sale process? Lower the price a little to spark some interest.

Advantage- Exclusivity

Everybody wants what they can’t have. It’s human nature. The clubby feeling surrounding pocket listings makes buyers drunk with power, and agents aren’t immune either. Who doesn’t love to feel smarter than the average bear? And why shouldn’t you? You know about a house for sale that other buyers don’t. Luxury brands have been using this tactic for years.

Disadvantage- Less Excitement if Later Listed

The top agents in the neighborhood will know about your pocket listing. When you do come on the market, there might be less of a pop- because many of the buyers in the market who are working with these agents were already exposed to your listing as a pocket.

Advantage- Lower Commission

Owners can save money on real estate commissions by pocket listing. If you list publicly, you usually have to pay 5% or 6% sales commission total. Half of that is a buyers agent commission of 2.5% or 3%. If the listing agent represents both buyer and seller, I know a lot of agents who are happy to give a commission discount- usually 4% but sometimes less. If the seller is a lawyer or part-time real estate agent or has an agent friend who will work for a minimal flat fee or drastically reduced commission- they can get away with offering a buyer’s agent a normal commission and save on the seller side fee. Any way you slice it, the seller usually saves 1% or 2% on commissions when pocket listing, which gets them a little money back that they might be giving up by not listing publicly.

Disadvantage- Dual Agency

The two most common causes for real estate lawsuits in California are disclosure and agency. If you are a dual agent, special care has to be taken that both sides are treated fairly. California allows Dual Agency, so it is legal. Real estate boards aren’t overly fond of pocket listings because they work against the spirit of cooperation that the MLS is based on. If there is a dispute later, the fact that the sale was a pocket listing may color an action in a pale light.

I’m an Agent- how do I market a pocket listing?

Pocket listings take away an agents #1 marketing tool- the MLS, so they require more work and are more difficult to sell than normal listings. What marketing you can do depends on what your seller wants and is OK with. Marketing a pocket listing is pretty similar to marketing a normal listing except no MLS more or less.

1- Ask the owner for permission to take pictures. Pictures will help you sell the thing! Consider getting a floorplan also.

2- Market the pocket listing to your Sphere of Influence. I always start by trying to sell my pocket listings to my existing clients first. Send out an email blast to your client database, and posting the pocket listing on your website/social media is where I’d start. If you write a monthly newsletter, you could also include it in there.

3- Didn’t sell it yet? Reach out to other brokers in your office, and in the community that you are friendly with. I would print out a flier of the pocket listing and stick it in every agent’s mailbox in my office. You could also go to a few other offices if your company has multiple locations. If your company has a weekly office meeting- pitch it there. If you have an email list of agents you are friendly with, email blast them. Or if you want to add the personal touch, pick up the phone and make a few phone calls.

4- There are places online you can post a listing that are not the MLS- if the seller allows you. Zillow.com is the first place I would put it online under coming soon– although you need to be a premier agent to unlock this function. Many Savvy buyers use Zillow to search for off-market coming soon listings, so you will get some internet exposure there. Craigslist is OK but has really dropped off in recent years. I have experimented with Forsalebyowner.com but found that the only people on there are hungry real estate agents looking for listings. I have posted several pockets on the site and never once got a buyer call, the only calls I received were from prospecting agents so I would avoid that one as a total waste of time. 

5- Private listing groups. There are several different private listing groups for real estate agents to share pocket listings with one another. Top Agent Network (They charge a membership fee),  The Pocket Listing Service, and this very popular local Pocket Listing Facebook Group, are a few examples.

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6- If the seller gives you permission, install a yard sign.

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7- If the seller gives you permission, hold a Pocket Listing Open House. Place your directional open house signs out on Sunday.

8- You can try to advertise the pocket listing with a print ad or Facebook ad to generate some traffic- or buy buyer leads Zillow, Trulia, Realtor.com, Yelp, or some other place.

I’m a Buyer or Buyer’s Agent- how do I find pocket listings?

Finding pocket listings can be a little tough because you have to do a little digging to turn them up.

You might find the article I wrote “7 different types of pocket listings” helpful background information for understanding the various reasons sellers decide to pocket list.

1- Ask Local Real Estate Agents. Here is your new favorite question- “Do you have any pocket listings?”. Real estate agents are spending big money on their marketing, and have past client’s that they have relationships with, as well as potential sellers they are working on to list.  By asking them if they have any pocket listings you will find out what they have in the cooker. It is not uncommon for a neighbor to keep close tabs over a nearby listing to see what it sells for, they usually hire the agent who was the most recent to sell a home nearby if they did a good job. I see agents get pockets in the same building for condos or on the same street for houses pretty frequently.

Keep in mind when you are committed to working with a buyer’s agent, that you can get yourself into an awkward situation by asking other agents for pocket listings because some agents will only show you their pocket if you agree to work with them.

2- Ask Brandon Miller. Brandon is one of the hardest working title officers in Los Angeles and he is always posting pockets on his facebook. Title officers are on the front lines of listings because they are usually one of the first people an agent calls when they have a new listing (also true with photographers, stagers, and transaction coordinators).

3- Drive around the neighborhood. Sometimes you can catch a listing being staged, a suspicious moving truck, or a seller fixing their place up to get ready to sell. If you are feeling bold, knock on the door or walk up to the seller and ask them if they are planning on selling. Keep an eye out for a fresh for sale yard sign.

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4- If you can afford new construction- it’s no secret when a property is being built and is close to being finished. Poking around at the job site, you can usually get to the agent or owner after asking a few questions from the workers. You can also try to look up in the public records the agent that sold the property last because the builder is their client.

5- Check Real Estate agent’s personal websites for their pocket listings. Here are some links to agents/Agencies that keep their website updated with their pocket listings:

https://www.theagencyre.com/

Click Advanced Property Search and select “Pocket (not in MLS)”

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COMPASS www.compass.com

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Sally Forester Jones writes an awesome real estate newsletter- called “the Jones Report”. You can sign up for it on her website

https://www.sallyforsterjones.com/newsletter/

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In her monthly newsletter she lists her upcoming listings, and there are a LOT of them. Great place to look for pockets.

https://figure8re.com/pocket-listings/

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https://www.rexchange.com/

Rex Real Estate is a discount brokerage- they do not offer any commission to selling agents, so real estate agents usually don’t like showing their listings. They get a decent number of listings so this is an OK place to search and none of their listings are on the MLS.

6- Send out a Buyer Need Email Blast

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7- Search on Zillow Coming Soon

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If you have a pocket listing or if you are looking to find one, let’s chat!

 

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935 N Hudson

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935 N Hudson Ave
Los Angeles CA 90038

935 Hudson is 4 story, 6 condo, new construction building in Hollywood. Built in 2017 by AJ Khair, the condos have an industrial chic vibe with exposed concrete flooring, snow white quartz, and geometric chrome fixtures. These condos are 3 bedrooms (which can be tough to find in Hollywood) and the building has a rooftop deck.

Location

935 N Hudson is in the center Hollywood. There is a lot of arts and entertainment to keep you busy exploring. Every year Hollywood has its own Fringe Festival where local artist perform their own productions. If you are ever wondering what is going on at the Hollywood Recreation Center, there are a number of leagues– flag football, kickball, dodgeball, that use these facilities for games.

Hollywood has some great watering holes, here are a few of many places to wet your whistle: Sassafras Saloon, Pour Vous, No Vacancy.

Just around the corner from 935 N Hudson is a great brunch spot- Grub cafe. Get your grub on! try their herb roasted potatoes. A BBQ joint opened up recently on vine- the Oinkster. Salt’s Cure which recently relocated from Santa Monica and Gardner is now super close on Highland. For a vegan option, the ever more popular cafe gratitude in North Larchmont hits the spot.

For Groceries,  the Pavillions on the corner of Melrose and Vine is your closest option. There is a new Trader Joe’s on Vine and Selma too.

Real Estate

935 N Hudson is a modern condo building with a light touch of industrial. Kitchens have European two-tone cabinets, porcelain tile, and white quartz countertops. Appliances are stainless steel by LG. The floors in the hallways and living room are polished concrete. Recessed lights above each room illuminate the condo, so there is no need for floor lamps, which can look cluttered. Being new construction, there are firesprinklers, central HVAC, and in unit laundry. The developer installed NEST thermostats.

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Floorplans are all single level, and are about 1,500 sqft. Each condo is 3BR 2 and a half baths. There are two condos on each floor, 01 stack faces the street and 02 faces the rear. The ground level has the entrance, parking, and trash room (no trash chute). The roof has a rooftop deck with great views!

Each condo has a modest balcony. The hallways are open air.

Amenities

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Roofdeck

Elevator

Parking and Laundry

Laundry inside the condo. The developer did not provide laundry machines as part of original offering.

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Parking is in a ground level garage accessible through gate. Each condo gets two tandem parking spaces- one compact and one full. There is no guest parking.

Home Owners Association

HOA dues Monthly Cost? $539/mo

HOA dues cover?

Owner Pays?

any special assessments? No

Pet Policy?

Rental Policy?

EQ Insurance? Yes

Building Reserves?

Special move in instructions?

Can you have BBQ on balcony?

Property Management company? TBD

 

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325 Arnaz Drive | Russell Square Condos

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Russell Square
325 Arnaz Drive
Los Angeles CA 90048

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Russell Square is a 4 story, 15 unit, contemporary Mediterranean style condo building in Beverly Center. Built in 2005 by Dariush Khakshouri of Wellesley Manor Corp, who also built 305 N Arnaz next store, these condos are quality construction. The developer went a little more modern with the interiors of this building then the first one which is a little more traditional. This is one of few newer construction buildings in the Beverly Center neighborhood. Russell Square has a gym, low HOA dues, and Earthquake Insurance.

Location

325 Arnaz Drive is Beverly Hills adjacent and walking distance to Cedar Sinai hospital. There are lots of restaurants and shopping nearby. 3rd Street, North Robertson Blvd, the Beverly Center, and West Hollywood are within 5 minutes.

For your weekly Grocery Shop, you have several local stores to choose from: Trader Joe’s on the ground level of 8500 Burton, Beverly Hills Ralphs and Bristol Farms at the corner of Beverly and Doheny, and the West Hollywood Pavilions.

Real Estate

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There are 4 condos on each floor (except for the 1st floor, which has 3 condos and the gym)- stacks 1 and 2 face the street and stacks 3 and 4 face the rear. There is an Alley that runs along the Southern border of the property that stacks 1 and 4 overlook.

All condos are 2BR/2BA (except for 103 which is 3Br/3Ba), between 1,300 and 1,500 sqft. Floorplans are single story.

The developer installed hardwood floors in the living room and dining room. Bedrooms are required by CCRs to be Carpeted except for the 1st floor. Kitchens have stainless steel appliances, European two-tone cabinets, and granite countertops. The condo has gas, so you get a gas range. The living room has a gas fireplace, and every condo has a balcony.

These condos have a large master bedroom suite and a smaller second bedroom. The master has its own walk-in closet, and private master bathroom with double vanity, frame-less shower, and separate soaking tub. The tile in the bathroom is travertine.

Being newer construction the building has fire sprinklers and central HVAC.

Prices Range $850,000 to $1,000,000

Amenities

325 Arnaz Drive (Russell Square)  doesn’t offer owners a lot of amenities. This keeps the Home Owners dues low.

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Gym

Elevator

Extra Storage

Parking and Laundry

Each condo has 2 parking spaces in the gated subterranean garage. Guest Spaces?

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Laundry is in each unit in the hall.

Home Owners Association

HOA dues Monthly Cost? $510/mo

HOA dues cover? Water, Trash, Building Maintenance, Reserves, EQ Insurance

Owner Pays? Gas, Electricity,

any special assessments?

Pet Policy? The weight limit for pets is 30 pounds.

Rental Policy?

Move-in Fee?

EQ Insurance?

Building Reserves?

Special move in instructions?

Can you have a BBQ on the balcony?

Property Management Company?

G-B Investment Services
Daniel Bleiberg
310-453-5368
http://gbrents.net/

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305 Arnaz Dr | Arnaz Grove Condos

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Arnaz Grove
305 Arnaz Drive
Los Angeles CA 90048

Arnaz Grove is a 4 story, 16 unit, contemporary Mediterranean style condo building in Beverly Center. Built-in 2004 by Dariush Khakshouri of Wellesley Manor Corp, these condos are quality construction. The developer also built 325 Arnaz next store a year later – they are very similar. I love the landscaping in front- with a row of 40 ft. king palms and planter beds. This building is one of a handful of newer construction buildings in the Beverly Center neighborhood. When an Arnaz Grove condo comes for sale they usually sell fast and in multiples. Since the building doesn’t have any major amenities, the HOA dues are low, even with Earthquake Insurance coverage.

Location

Arnaz Grove is Beverly Hills adjacent and walking distance to Cedar Sinai hospital. This location has a high walk score because of its proximity to restaurants and cafes on 3rd Street and the high-end retail of North Robertson. The newly renovated Beverly Center + Beverly Connection shopping mall offers plenty of stores for whatever your favorite brand is, and the West Hollywood design district is not far.

There are several sit down restaurants within a five-minute walk from Arnaz Grove- one of these could be your new home away from home for those evenings when you aren’t in the mood to cook in your beautiful new kitchen. Or you can rotate!

Pizzeria Il Fico (Italian)
Le Pain Quotidien (Cafe)
Jack N Jill Too (American)
Café Angelino (Italian)
The District (Vietnamese)
AOC (American)
Locanda Veneta (Italian)
3rd Stop (American)

For Grocery Stores, there is a Trader Joe’s on the ground level of 8500 Burton, Beverly Hills Ralphs and Bristol Farms on the corner of Beverly and Doheny, and the West Hollywood Pavilions.

This neighborhood is very quiet and Safe.

Real Estate

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There are 4 condos on each floor- stacks 1 and 2 face the street (across the street are some beautiful jacaranda’s that bloom each year) and stacks 3 and 4 face the rear. There was about a $30,000 premium for street facing units when the building originally sold out, but since these condos rarely come on the market (it’s a small building), prices are determined by market demand.

All condos are 2BR/2BA, between 1,400 and 1,500 sqft. Floorplans are single story.

The developer installed bamboo hardwood floors in the living rooms, entry, and dining rooms which were somewhat unusual finish for the year built. Bedrooms are required by CCRs to be Carpeted except for the 1st floor. Kitchens have stainless steel appliances, cherry shaker cabinets, and bullnose granite countertops. The condo has gas, so you get a gas range. The Living Room has a balcony and gas fireplace.

The master bedrooms suite has its own finished walk-in closet, and private master bathroom with double vanity, frameless shower, and separate soaking tub. The tile in the bathroom is travertine.

There is a common area water heater and boiler on the roof that supplies hot water to all the units. Windows are Milgard, and all the doors have chrome hardware and raised panel solid core doors.

Prices Range $850,000 to $1,000,000

Arnaz Grove Amenities

This building has no amenities except for an elevator. This keeps HOA Dues very low, especially considering the building carries Earthquake Insurance.

Arnaz Grove Parking & Laundry

 

Each condo has 2 Parking Spaces in a gated subterranean garage, most of the spaces are tandem. There is 5 guest parking spaces total.

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Laundry is stacked inside the unit, in a closet in the hallway.

Home Owners Association

 HOA dues Monthly Cost? $500/mo.

HOA dues cover? Water, Trash, Building Reserves, Building Insurance, Common Area Maintenance.

Owner Pays? Electricity, Gas, Internet and Cable, Condo Insurance.

Any special assessments? No

Pet Policy? 2 pets max, no weight or breed restrictions.

Rental Policy? Leases must be 1 year or more. There is a draconian $5,000 fine for signing a lease prior to getting HOA board approval. A condo in the building was levied this fine, but the HOA and owner worked out an agreement for partial payment. Only 5 condos may be rented in the building at any time, 4 are currently rented. The HOA is not very receptive to rentals because I believe in the past they had some problems.

Move in Fee? $350

EQ Insurance? Yes, $6,000,000 policy

Building Reserves? 65K in reserve +10K per year, approximately 60% funded.

Can you have BBQ on the balcony? Yes

Property Management Company?

Saba Properties
http://www.sabaproperties.net/
12609 Woodgreen St
Los Angeles CA 90066
310-398-3900

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