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Wednesday, September 28, 2016

House Hunt: Time to buy a freeway-adjacent Lincoln Heights condo?

Photo from Google Maps

The 165-condos at Puerta del Sol in Lincoln Heights are blessed and cursed by their central location. A Gold Line train stop is just steps away and the nearly five-year-old condo complex and several hundred other apartments are certainly “freeway-close” –  they rise near the interchange of 5 Freeway and 110 Arroyo Seco Parkway.  The proximity of the condos and apartments to the freeway prompted the L.A. Weekly to feature the housing complex in a story titled “Black Lung Lofts,” which chronicled the potential health hazards that comes from living next to freeways. The condos do not face the freeways but they are near the auto wrecking yards, a DWP storage yard and the vacant and often tagged industrial buildings that line  West Avenue 26.  Still, in recent months, several Puerta Del Sol condos have sold, with a steep drop in prices apparently overcoming any concerns about the surrounding neighborhood and freeways.  If you think condo prices have hit or are near bottom, here are some Puerta Del Sol units to consider:

360 West Avenue 26 Ave #133
Size: 2-bedrooms, 2 baths; 1,160-sq-ft
Sales Pitch: “Contemporary unit, with beautiful hardwood floors, stainless steel appliances, custom cabinets, and tile flooring in the kitchen and bathrooms.”
2007 Sales Price: $395,600
Current Asking Price: $240,000
360 West Avenue 26 #439
Size: Loft space with 1 bath, 1,160-sq-ft
Sales Pitch: “Nicely upgraded loft mezanine! … Expanded interior done without permits … granite counterops.”
2007 Sales Price: $355,000
Current Asking Price: $175,000
360 West Avenue 26 #336
Size: 2-bedrooms, 2 baths; 1,160-sq-ft
Sales Pitch: “The condo features granite counter tops in kitchen and stainless steel appliances. There are laundry hook ups in laundry closet and plenty of linen space in adjacent hallway.”
2007 Sales Price: $417,500
Current Asking Price: $229,900

Photos from theMLS.com and CRMLS.co



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One comment

  1. the loft unit #439 is a GREAT buy. Top floor, southern views and good light. About as affordable as it’s going to get there. Short sale so expect delays but there is a ton of inventory at the complex.

    Interestingly, not that many of the large units come up for sale. There are some really bug 4 bedroom ones.

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