460 S Spring Street 1217, Los Angeles, California 90013, Los Angeles, 90013 - 1 bed, 1 bath

460 S Spring Street 1217, Los Angeles, California 90013 home-pic-0
ACTIVE$550,000
460 S Spring Street 1217, Los Angeles, California 90013
1Bed
1Bath
844Sqft
30,796Lot
Year Built
1912
Close
-
List price
$550K
Original List price
$565K
Price/Sqft
$652
HOA
$740
Days on market
-
Sold On
-
MLS number
25501177
Home ConditionExcellent
Features
Spa
Patio
ViewCourtyard

About this home

We found 3 Cons,5 Pros. Rank: price - $550.0K(50th), sqft - 844(41th), beds - 1(50th), baths - 1(50th).

**MILLS ACT TAX SAVINGS OF UP TO 80%** Discover a truly unique opportunity to own a stunning top-floor Penthouse loft in the iconic Rowan building. This serene penthouse, perched high on the 12th floor, offers exceptional privacy with no shared walls and a peaceful, interior-facing orientation that shields you from the city's hustle while still flooding the space with natural light through wall-to-wall, oversized mahogany-framed windows overlooking the tranquil atrium courtyard.The loft exudes character with exposed brick walls, soaring 13' brick barreled ceilings, and a charming skylight, all complemented by central HVAC for year-round comfort. Its historic charm is flawlessly paired with modern luxuries, including Scavolini custom kitchen and bathroom cabinetry, sleek stainless steel Bosch appliances, granite countertops, a relaxing soaking tub, and elegant engineered wood flooring. The open-concept gourmet kitchen enhances both functionality and style, perfect for everyday living and entertaining. Residents at The Rowan enjoy premium amenities such as 24-hour private security, a spacious residents' lounge with a kitchenette, a private garden with a barbecue area and outdoor seating, and inviting hot and cold spas. The building is also pet-friendly, welcoming your furry companions. Parking & Storage available for an additional cost. Located in Downtown LA's vibrant Historic Core, right next to Spring Street Park, this loft offers the perfect blend of urban living and peaceful retreat. Plus, benefit from substantial property tax savings (approximately 60-80%) through the Mills Act, making this an incredible investment opportunity. Truly a must see to really capture what this unit and building have to offer.

Price History

Date
Event
Price
09/13/13
Sold
$460,000
04/17/12
Sold
$372,500
05/15/09
Sold
$318,000
Condition Rating
Excellent

Despite being built in 1912, this penthouse loft has undergone an extensive and high-quality modern renovation. The description explicitly states 'modern luxuries, including Scavolini custom kitchen and bathroom cabinetry, sleek stainless steel Bosch appliances, granite countertops, a relaxing soaking tub, and elegant engineered wood flooring.' The images confirm these updates, showcasing a contemporary kitchen with dark flat-panel cabinets, stainless steel appliances, and granite, alongside a modern bathroom with a stylish vanity, granite counter, and updated tiling. The engineered wood flooring throughout the living areas is in excellent condition, and the central HVAC system ensures modern comfort. All components appear new or virtually new, seamlessly blending historic character with current quality standards.
Pros & Cons

Pros

Mills Act Tax Savings: Offers substantial property tax savings of up to 80% through the Mills Act, significantly reducing ownership costs and enhancing investment value.
Unique Architectural Character: Features distinctive historic elements such as exposed brick walls, soaring 13' brick barreled ceilings, and a charming skylight, providing unique aesthetic appeal.
Penthouse Privacy & Natural Light: As a top-floor penthouse, it boasts exceptional privacy with no shared walls, an interior-facing orientation for tranquility, and abundant natural light from oversized windows.
Modern High-End Finishes: Equipped with modern luxuries including Scavolini custom kitchen/bathroom cabinetry, sleek Bosch appliances, granite countertops, and engineered wood flooring.
Comprehensive Building Amenities & Location: Residents enjoy premium amenities like 24-hour security, a residents' lounge, private garden with BBQ, spas, and a prime location in Downtown LA's vibrant Historic Core.

Cons

High Monthly Association Fees: The monthly association fee of $740 is substantial and adds a significant recurring cost to ownership.
Parking & Storage Not Included: Parking and storage are available only at an additional cost, which can be a notable extra expense in a dense urban environment.
Compact Living Space: With 844 square feet for a 1-bedroom unit, the living space may be considered compact for some buyers, potentially limiting its appeal to those desiring more expansive accommodations.

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