Listing Coming Soon
Within the fast-paced Megalopolis of Los Angeles is a tree-lined, storybook neighborhood like no other. Children ride their bikes outside and play within the iron-wrought gates of a quiet and elegant community. The intimate four-block community of Lafayette Square comprises of 236 stately homes. Once home to many prominent LA figures such as architect Paul Williams, W.C. Fields, Fatty Arbuckle, and Joe Louis, Lafayette Square is one of the greatest treasures. The city of LA recognizes Lafayette Square as a historically and architecturally significant community, providing more benefits to its residents than your typical neighborhood, resulting in the very little turnover.
In fact, in the last year, only 9 homes in Layfaette Square listed and sold according to the MLS, of which $1,780,056 = Average closing price. A 1920’s Greek revival fixer, our upcoming listing requires some sincere TLC. As such, the price is $1,160,000. This will be the greatest project for a serious and experienced renovator, enabling them all the potential tax benefits of a historical property.
Historical designation benefits
Architecturally and historically significant, Lafayette Square is a part of Los Angeles’ HPOZ (Historic Preservation Overlay Zone), which comprises about 30 historic communities in the city and was created to preserve the original character of Los Angeles. Why is owning a historically designated home so awesome? First, the Office of Historic Resources in Los Angeles states, “Numerous studies national [find] homes within historic districts such as HPOZs tend to appreciate in value at a higher rate than similar homes outside designated historic districts.” Second, homes registered under the Mills Act program are eligible to enter into a contract with the City which may result in substantial property tax reductions. Third, within historical neighborhoods, you’ll find an overwhelming sense of community, based on a common source of pride in the character and integrity of the homes.
Looking for an attractively priced “fixer” in Lafayette Square? – Let us know!
David Keller ?(310) 707-8706?
RE/MAX Estate Properties | Executive Manager | Lic#00851437?