Category: Miracle Mile

1076 S Orange Grove Ave

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1076 S Orange Grove
Los Angeles CA 90019

1076 S Orange Grove is an 18-unit newer construction condo in Miracle Mile. Built in 1991, the building has a Spanish design, with Saltillo tiles, mint green wrought iron gates, and balustrades. The condos are compact which keeps prices affordable. Every condo faces the courtyard, which lends itself to a sense of community and brings in natural light. This building has no amenities and low HOA dues and a convenient location.

Location

Real Estate

Record Sale $630,000 11/22/2017

Floorplans in 1076 S Orange Grove are mostly single story except for #2 and #10 which are townhouse style. There are (4) 1 bedroom floorplans that are about 700 sqft (#4,#5,#12,#14) and the rest are 2 Bedrooms floorplans that range in Sqft from 900 to 1300 sqft. Condos 1,2,3,11, and 13 are street facing.  Pricing for the 1 bedrooms is between $500,000 and $600,000. The 2 Bedrooms sell between $750,000 and $850,000.

Each condo has a compact galley kitchen, a dining room that seats 4-6, and a medium-size living room. The windows are pretty big, so the condos get a good amount of light, and the way the building is designed every condo faces the courtyard. Living rooms have a gas fireplace with a traditional stone mantel. Hardwood flooring surfaces are allowed. Bathrooms have a single sink and a combined tub shower. Each condo has in-unit laundry and Central HVAC. Condos on the first floor have large enclosed patios and condos on the second floor have balconies. Sorry, closet space isn’t amazing- no walk-in closet in the master, but nice size reach in closets. The condos have gas- so Kitchens have gas stoves, and laundry has a gas dryer. 

 Amenities

None (no elevator)

Parking & Laundry

Every condo gets 2 parking spaces in a subterranean gated garage and there are  4 guest parking spaces in the building. There are storage lockers in the parking garage for additional storage.

Laundry is inside the unit. There is a laundry closet in the hallway with spaces for a stacked washer dryer. Since the building has gas, it has a gas dryer.

Home Owners Association

HOA dues Monthly Cost? $375/mo.

HOA dues cover? Water & Trash

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

any special assessments? None

Pet Policy? 2 pets maximum, – no weight restrictions.

Rental Policy? Leases must be 30 days in length or longer

EQ Insurance? Yes

CCRs? https://www.dropbox.com/s/7xnrwzibss042ja/1076%20S%20Orange%20Grove%20CC%26Rs.pdf?dl=0

Building Reserves? $60,000 or 50% funded

Special move in instructions?

Can you have a BBQ on the balcony? No

Management company?

Ontrack Asset Management
11110 Ohio Ave, Ste 205, Los Angeles CA 90025
Phone: 424-270-0851 or 877-278-5598

 

 

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750 S Spaulding Ave | Wilshire Galleria

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Wilshire Galleria
750 S Spaulding Ave
Los Angeles CA 90036

Wilshire Galleria is a 118-unit midrise condo in Miracle Mile. Built-in 1981 by Goldrich & Kest, these condos are all 2 Br/ 2Ba that range in size from 1,300 to 1,700 sqft. The original developer advertisement encouraged buyers to “Invest in a work of Art”.


Wilshire Galleria condos are on the larger side for 2 bedrooms, so they are very spacious, and for the first-floor condos- they each have a huge outdoor balconies

The building is due for an update, especially in the hallways. For buyers with some patience, this building offers very low Price per square foot for the area, and for units that haven’t been updated yet, carte blanc to remodel however you want.
There are tons of street parking spaces on the south side of the building for 8th St.
in the area and with all of the development going on at Wilshire the walkscore has went up in recent years.

Location

Wilshire Galleria is just across the street from LACMA and the La Brea Tar Pits. This area gets a lot of food trucks during lunch time. The El Rey Theater is nearby, that’s a great venue. With some of the big Apartment buildings, they added a lot of ground level retail which houses restaurants and coffee shops. This area has become a lot more walkable in recent years.

Real Estate

Turnover Ratio? 5% about 4 a year

Appreciation? 5%

Record Sale? $840,000 10/05/2018

The floorplans in Wilshire Galleria are all single story on 3 floors. The 1st-floor condos have huge balconies. All of the condos are 2Br/2Ba, some of the larger condos have a Den which could be enclosed for a 3rd Bedroom. I appreciate that there is a good amount of open space in this development, which lets the light in, and gives some room between your neighbors.

Prices range between 600K-700K depending on how remodeled the condos are. The kitchens have a breakfast area. The original developer finishes are quite dated now, but they were done with materials that were popular at the time. The kitchens are closed galley-style kitchens, some owners have removed some overhead cabinets and made an opening to connect to the living room and open it up a bit.

One nice thing, is that you can put hardwood floors or tile on the 2nd and 3rd floors. The original condos came with wall to wall carpet. Many owners have installed laminate flooring. Dining Room seats 6. Living rooms are nice and roomy. Bedroom configuration?

In the Master Bedroom you get a walk-in closet and private bathroom. Both the bedrooms are medium size. Condos have in unit laundry and Central HVAC.

Amenities


Lobby

Pool & Spa

Elevator

Storage?

Parking and Laundry

Each condo has a Stacked washer dryer in the hallway.

Each condo gets 2 parking spaces – there is a mix of tandem and side by side. There are 47 guest parking spaces. There is a bike rack and grocery carts in the gated garage area.

Home Owners Association

HOA dues Monthly Cost? $450-$550/mo.

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

Owner Pays? Electric, Internet, Cable, Condo Insurance

Any special assessments? No

Pet Policy? 1 Dog, 20lb limit.

Rental Policy? Maximium of 15% (17 or 18 condos) of the building may be leased. Currently at the maximum, new owners will be put on a waitlist for when a rental spot opens up.

EQ Insurance? No

CCRs?

Building Reserves? 

Special move in instructions?

Can you have BBQ on balcony? Yes, but need to use smokeless briquettes

Property Management Company? 

Onsite Management Phone#
323-937-9437

 

 

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600 S Ridgeley Dr | The Museo

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The Museo
600 S Ridgeley Dr
Los Angeles CA 90036

The Museo is one of my favorite buildings in Miracle Mile. It is newer construction done in an Architecturally Innovative modern style. The building is exceptionally well located, across the street from the La Brea Tar Pits, and Park La Brea Apartments, this condo is walkable to an upcoming Subway stop and a bunch of street-level restaurants on Wilshire. The developer was Canfield Development.  El Museo is 52 condos on 4 floors, the penthouse floor, and first-floor condos have lofts. The condos were built in 2009. This is one of the only newer construction buildings in the area. I really do like the landscaping of this building especially the lush central courtyard out from the lobby.

Location

They call it The Museo because it is right smack dab on Museum Row, with several major museums nearby. I personally love museums and think being close to so many and some park-like grounds is a desirable amenity. The museums are LACMA, Petersons Automotive, Academy of Motion Picture Arts, and the La Brea Tar Pits. LACMA in the summer has free Jazz night and salsa night each Friday and Saturday.

Being in Miracle Mile, you are close to all the great miracle mile stuff: The Farmers Market, The Grove, Beverly Center. Hollywood, West Hollywood, and Beverly Hills are 10 minutes away.

The Museo is located on Ridgeley just south of 6th Street. You have two major thoroughfares nearby: 6th St and Wilshire Blvd. Wilshire Blvd has restaurants and an upcoming Metro Transit Stop.

The block is short and has a sidewalk. I see a lot of people walking their dogs. Many of the buildings nearby are 2 story apartment buildings. That means that owners on the 3rd and especially 4th floor have nice city views, especially of the old variety building, now has SBE logo.

The streets are very well lit, and this neighborhood feels very safe to me. The building is secure access. Stumbling distance to Tom Bergin’s for my Irish pub lovers, and Wilshire Hotel Rooftop Bar, and Trivia night at the Little Bar. And Classic Buzbys! (they have great halloween contest)

Real Estate

Price Range: $750,00 (1br) $800,00 to $1,000,000 (2br)

Turnover Ratio: 6%

Record Sale: 1,050,000 5/30/2018

The Floorplan in Museo Condos on floors 2-3 are all single story, and the first floor and the Penthouse Level has stairs to a loft. The Condo Mix for the building is (9) One bedroom + one and a half bath. (43) Two bedroom + two bath- so most of the condos are 2 bedrooms. SQFT ranges from 1,000 to 1,500 sqft for the 2 bedrooms and 800 to 1000 sqft for the 1 bedrooms.

The Modern finishes are great! I really like the hardwood flooring, the large living rooms, and open concept kitchens. The Kitchens have Blum cabinets, white quartz counters, and whirlpool gold appliances. The Overhead cabinets lift up which is pretty cool. I will say the kitchens are on the smaller side, but that gives a larger living room. The floor plans have huge living rooms.

Sorry closet lovers, no bedroom walk-in closets. All of the bedroom closets are reach in, however, the condos have good closet space, so they do not lack closets, you just won’t get a master walk-in closet.

The living room original sconces are terrible in my opinion. I think owners should change them. They work perfectly fine, but I think you could do much better, and it doesn’t need to be a large expense.

The front doors have 4 daylights in them with clear glass, which creates an interesting effect. If you want more privacy you can put an opaque film on them.

Many of the condos have a Balcony.

I’m going to say the Bathrooms are pretty nice. The finishes are very sleek, and the master has a huge bathtub. Double vanities, and a frameless shower.
The original sell-out prices for the Museo were abysmal because this building was completed in a very difficult real estate market in 2010. The original sell-out prices were in the high four hundred thousand to low 500,000s.

One unique thing about the penthouse floor plans is the Lofts. They are an open bedroom with a closet and a full bathroom. There is a cable tie railing to the living room below. Central HVAC.

The Museo has a not so common Natural Hazard- this area was once all oil fields, and the tar pits have big pits of oil in them. Have you ever seen tar bits bubble? The are bubbling out Methane Gas trapped below the earth that is escaping from the ground of these tar pits- for buildings with Large underground parking garages, there is a risk that the escaping methane gas, instead of being released into the atmosphere, could get trapped and build up, and then explode. No need to worry though, the methane sensors installed in the Museo will sound an alarm if they detect methane gas building up.

Amenities

Lobby

Lush Central Courtyard

Gym

Elevator

Security- Security cameras

Parking & Laundry

Laundry in the unit in a stacked washer dryer room.

The building has a two-level subterranean parking garage. There is a nice wide entrance for pulling in and out. Almost every condo has 2 parking spaces, some are side by side and some are tandem. A few 1 Bedrooms only get 1 parking space. There are 12 guest parking spaces. Owners are allowed at this time to install storage behind their parking spaces.

Home Owners Association

The HOA recovered approx. $500,000 from a construction defect lawsuit. One of the things mentioned was cracks on the stucco, which are being repaired. As a result, the building has a huge reserve and is 160% funded currently. Never seen that before. The HOA dues are very low – but should probably be $200 higher in my opinion, they are under $400/mo. The HOA just voted to get Earthquake insurance for 2019.

In the HOA documents, they refer to the building as MidCity Lofts. I am not sure if this name was ever used in marketing the building.
The HOA recently installed a water softening system in the building, so owners don’t get hard water.

HOA dues Monthly Cost? $350 -$400/mo.

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

Owner Pays? Electric, Gas, Internet, Condo Insurance

Any special assessments? No

Pet Policy? 2 dogs or cats, no weight restriction

Rental Policy? Lease in writing at least 30 days (very landlord-friendly)

EQ Insurance? Yes as of 2019

CCRs? https://www.dropbox.com/s/04puwi5pd9chv45/600%20S%20Ridgeley%20CC%26Rs.pdf?dl=0

Building Reserves? 600K 160% funded

Special move in instructions? $500 move-in/move out fee

Can you have a BBQ on the balcony?

Who is the Management company?
Ross Morgan & Company
www.rossmorganco.com
818-907-6622
Community Manager:
Monica Cooper extension 271
monica@rossmorganco.com

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