West Hollywood, CA Real Estate News

By COMPASS PALM SPRINGS | Stewart Penn, COMPASS Palm Springs - Broker Associate
(COMPASS)
740-750 N Kings Rd, West Hollywood, CA 90069 Kings Villas Desirable condo building in prime West Hollywood area. Walk to restaurants and stores on Melrose Avenue. Year Built: 1973 No. of Units:144 Unit Sizes: 1 & 2 Bedroom units Record Sale Price: $555,000 (10/20/2006) Stewart Penn - Realtor for condos, lofts & single family homes in Los Angeles, Beverly Hills, Bel Air, Santa Monica, Malibu, Brentwood, Century City, Westwood, Beverly Center, Miracle Mile, West Hollywood, Sunset Strip, Hollywood Hills, Hancock Park, Sherman Oaks, Studio City and throughout the greater Los Angeles area. For further information about buying or selling at 740-750 N Kings Rd, please contact: Stewart Penn - Realtor/Broker - "Condo Specialist"
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By COMPASS PALM SPRINGS | Stewart Penn, COMPASS Palm Springs - Broker Associate
(COMPASS)
927 N Kings Rd, West Hollywood, CA 90069 The Ascot Ideally situated in the heart of West Hollywood on sought-after Kings Rd. Year Built: 1969 No. of Units: 60 Unit Sizes: 1 & 2 Bedroom units Record Sale Price: $759,000 (7/3/2006) Stewart Penn - Realtor for condos, lofts & single family homes in Los Angeles, Beverly Hills, Bel Air, Santa Monica, Malibu, Brentwood, Century City, Westwood, Beverly Center, Miracle Mile, West Hollywood, Sunset Strip, Hollywood Hills, Hancock Park, Sherman Oaks, Studio City and throughout the greater Los Angeles area. For further information, please contact: Stewart Penn - Realtor/Broker - "Condo Specialist"
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By COMPASS PALM SPRINGS | Stewart Penn, COMPASS Palm Springs - Broker Associate
(COMPASS)
1010 N Kings Rd, West Hollywood, CA 90069 Hampton Court Contemporary condo building adjacent to Kings Road Park. Ideal location  - walk to markets, restaurants and stores. Year Built: 1970 No. of Units: 52 Unit Sizes: 1 & 2 Bedroom units Record Sale Price: $665,000 (10/31/2006) Stewart Penn - Realtor for condos, lofts & single family homes in Los Angeles, Beverly Hills, Bel Air, Santa Monica, Malibu, Brentwood, Century City, Westwood, Beverly Center, Miracle Mile, West Hollywood, Sunset Strip, Hollywood Hills, Hancock Park, Sherman Oaks, Studio City and throughout the greater Los Angeles area. For further information, please contact: Stewart Penn - Realtor/Broker - "Condo Specialist"
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By COMPASS PALM SPRINGS | Stewart Penn, COMPASS Palm Springs - Broker Associate
(COMPASS)
950 N Kings Rd, West Hollywood, CA 90069 The Courtyards Resort-like complex set in lush gardens with pool, spa, gym, sauna, conference room and on-site management. Year Built: 1973 No. of Units: 194 Unit Sizes: Studios, 1 & 2 Bedroom units Record Sale Price: $679,000 (4/26/2005) Stewart Penn - Realtor for condos, lofts & single family homes in Los Angeles, Beverly Hills, Bel Air, Santa Monica, Malibu, Brentwood, Century City, Westwood, Beverly Center, Miracle Mile, West Hollywood, Sunset Strip, Hollywood Hills, Hancock Park, Sherman Oaks, Studio City and throughout the greater Los Angeles area. For further information, please contact: Stewart Penn - Realtor/Broker - "Condo Specialist"
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By COMPASS PALM SPRINGS | Stewart Penn, COMPASS Palm Springs - Broker Associate
(COMPASS)
1015 N Kings Rd, West Hollywood, CA 90069 Kingswood South Contemporary building located on one of West Hollywood's most sought-after streets. Year Built: 1965 No. of Units: 62 Unit Sizes: 1 & 2 Bedroom units Record Sale Price: $970,000 (12/12/2007) Stewart Penn - Realtor for condos, lofts & single family homes in Los Angeles, Beverly Hills, Bel Air, Santa Monica, Malibu, Brentwood, Century City, Westwood, Beverly Center, Miracle Mile, West Hollywood, Sunset Strip, Hollywood Hills, Hancock Park, Sherman Oaks, Studio City and throughout the greater Los Angeles area. For further information, please contact: Stewart Penn - Realtor/Broker - "Condo Specialist"
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By COMPASS PALM SPRINGS | Stewart Penn, COMPASS Palm Springs - Broker Associate
(COMPASS)
1025 N Kings Rd, West Hollywood, CA 90069 Kingswood North Contemporary building located on one of West Hollywood's most sought-after streets. Year Built: 1965 No. of Units: 62 Unit Sizes: 1 & 2 Bedroom units Record Sale Price: $939,000 (7/31/2006) Stewart Penn - Realtor for condos, lofts & single family homes in Los Angeles, Beverly Hills, Bel Air, Santa Monica, Malibu, Brentwood, Century City, Westwood, Beverly Center, Miracle Mile, West Hollywood, Sunset Strip, Hollywood Hills, Hancock Park, Sherman Oaks, Studio City and throughout the greater Los Angeles area. For further information, please contact: Stewart Penn - Realtor/Broker - "Condo Specialist"
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By COMPASS PALM SPRINGS | Stewart Penn, COMPASS Palm Springs - Broker Associate
(COMPASS)
The City of West Hollywood and California Recycles are co-sponsoring a "Document Shredding and Electronic Waste Collection Event". This is a free event where residents and businesses can have their obsolete documents securely shredded in addition to having their unwanted electronics recylced. Date: 5/15/2010 9:00 AM - 3:00 PM Location: City Hall Parking Lot - 8300 Santa Monica Boulevard, West Hollywood, CA 90069 A similar event last year resulted in 11 tons of documents being shredded and 5 tons of E-Waste being collected.
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By COMPASS PALM SPRINGS | Stewart Penn, COMPASS Palm Springs - Broker Associate
(COMPASS)
Farmers Market Self Storage - 111 South The Grove Drive, Los Angeles, CA 90036 A new "high-end" self storage facility will be opening in June 2010 in the West Hollywood area. Conveniently situated adjacent to The Grove Shopping Mall and close to West Hollywood and Beverly Hills, the Farmers Market Self Storage offers a good choice of storage units as well as secure long-term parking for cars.  This is a welcome addition to the densely populated area with many apartment and condo buildings, where extra storage is needed.   Constructing self-storage here makes good sense too - the site used to have old oil wells on it (Gilmore Oil). To reserve your storage space, call Laurie Bristol - Manager: (323) 422-0376 and mention you saw this blog.
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By COMPASS PALM SPRINGS | Stewart Penn, COMPASS Palm Springs - Broker Associate
(COMPASS)
90046 Condos - 90069 Condos - 90048 Condos As at April 30, 2010: Condos For Sale: 188 units. In comparison, there were only 140 units For Sale as at 3/31/2010. Condos Pending: 2 Units. A month earlier there were 16 units Pending. Looking For Back-ups: 37 Units. A month earlier there were 23 units Looking For Backup. It appears as though agents are less confident with their accepted offers and are continuing to market the properties by signaling they are still Looking for Backups. I think this variance is also attributable to the fact that it's taking longer to remove the loan contingency in deals. During April 2010: Number of Units Sold: 10 condos closed escrow. This is down from previous months closings of 24 units. Average Days on the Market: 86. Median Price: $517,250. Average List P...
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By COMPASS PALM SPRINGS | Stewart Penn, COMPASS Palm Springs - Broker Associate
(COMPASS)
West Hollywood Climate and Weather  - and Weather Risks The CLAW MLS has recently introduced additional information to it's MLS Listings - called "Community Data". Included in "Community Data" is climate and weather as well as the "Weather Risks" associated with that area. West Hollywood (90069 zip code) appears to be below the national average for general weather risks like hurricanes, tornadoes and hail. However, the significant "Weather Risk" is obviously Earthquakes. The chart below reminds residents that the risk is five time the national average. Since everyday is earthquake season in California, it's imperative for property owners to maintain earthquake insurance through the California Earthquake Authority. It's also worth having an Emergency Kit on hand. Information above provid...
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By Matt Sweeney, Rich Kids Real Estate
(Rich Kids Real Estate: The Brokerage)
If you are an active reader of my blog, then you will know my obsession with 925 North Genesee in West Hollywood. I think they are some of the slickest and highest quality new construction condos on the market. For the next two Saturdays, I will be holding the project open from 2pm-5pm. If you haven't had a chance to see them, please stop by and say hi! If you've already seen them, I definitely recommend a revisit.  I know every project on the market and at the right price, I truly feel this is one of the best  in terms of craftsmanship, "the wow factor",  finishes, attention to detail, and livability. I'm not even the listing agent , but wanted to hold them open because they excite me so much (not in that way, get your mind out of the gutter). Since I've recently blogged about them in ...
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By Matt Sweeney, Rich Kids Real Estate
(Rich Kids Real Estate: The Brokerage)
If you are an active reader of my blog, then you will know my obsession with 925 North Genesee in West Hollywood. I think they are some of the slickest and highest quality new construction condos on the market. For the next two Saturdays, I will be holding the project open from 2pm-5pm. If you haven't had a chance to see them, please stop by and say hi! If you've already seen them, I definitely recommend a revisit.  I know every project on the market and at the right price, I truly feel this is one of the best  in terms of craftsmanship, "the wow factor",  finishes, attention to detail, and livability. I'm not even the listing agent , but wanted to hold them open because they excite me so much (not in that way, get your mind out of the gutter). Since I've recently blogged about them in ...
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By COMPASS PALM SPRINGS | Stewart Penn, COMPASS Palm Springs - Broker Associate
(COMPASS)
The CLAW MLS published this chart showing the percentage increases and decreases of homes sold in Q1 2010 versus Q1 2009. Sales of Single Family Homes in West Hollywood recorded a strong increase for the first quarter of 2010 compared to the same time period in 2009. The number of single family homes sold increased from 6 (Q1 2009) to 24 homes (Q2 2010) representing an increase of 300%. Sales Volume in Q1 2009 totalled $7,161,000. Sales Volume in Q1 2010 totalled $25,777,320 - an increase of $18,616,320. This bodes well for West Hollywood which continues to be one of the most desirable areas of Los Angeles in which to live. Areas which are still showing negative statitics from Q1 2009 to Q1 2010 include Silverlake, Westwood, Century City and Cheviot Hills.
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By COMPASS PALM SPRINGS | Stewart Penn, COMPASS Palm Springs - Broker Associate
(COMPASS)
The City of West Hollywood has approved the issuance of Requests for Proposals to explore the feasibility of building a fully automated Municipal Parking Structure for City Hall staff, visitors and commercial patrons. According to the City's website: "Automated parking structures utilize computer-controlled lifts, conveyors and shuttles to transport cars from the arrival level to a parking space and vica versa, without human assistance." The major benefit of an automated parking garage is that such a facility can hold two to three times as many cars as a traditional ramp-style garage. Another benefit is that automated garages pollute far less than conventional garages: For the proposed 200-space parking structure, the reduction in CO2 emissions for the automated garage system is equival...
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By COMPASS PALM SPRINGS | Stewart Penn, COMPASS Palm Springs - Broker Associate
(COMPASS)
I recently blogged about an appealing new condo development in West Hollywood, that in my opinion, was still overpriced despite having price reductions: 1200 N Sweetzer Avenue. The Listing Agent has trimmed the prices yet again. Originally listed at $1,050,000 a 1368 sq ft 2-Bed 2-Bath condo worked out to $767 per square foot. After 163 days on the market, the price was reduced to $950,000 - $694 per square foot. After 262 days on the market, the price was further reduced to $899,000 - $657 per square foot. This represents a 14% reduction from the initial List Price - but in my opinion, the price is still too high - 10-15% above the current market. My opinion stands for the other units for sale in the development as well. As I've previously said, it will be interesting to see how buyers...
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By COMPASS PALM SPRINGS | Stewart Penn, COMPASS Palm Springs - Broker Associate
(COMPASS)
Prices Reduced at 751 N Fairfax Ave, Los Angeles, CA 90046 - The Lofts at Cherokee Studios The Cherokee Lofts is a Pugh+Scarpa designed condo development consisting of 12 live/work lofts and a small component of retail space. Condos range in size from 1197 -2275 square feet and include flats, tri-level lofts, townhomes and penthouse units. The Lofts at Cherokee Studios were designed with a commitment to green building strategies. These include a combination of traditional and solar power; electric car charging for every unit; high efficiency tank-less water heater systems; upgraded glass for thermal and sound insulation; and drought resistant landscaping. The development is pending LEED Platinum Certification. Launched in December 2009, The Lofts at Cherokee Studios were offered at arou...
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By COMPASS PALM SPRINGS | Stewart Penn, COMPASS Palm Springs - Broker Associate
(COMPASS)
There's a new chain of franchises opening in and around Los Angeles and all around the country ...... The Counter, which claims to be the 21st Century's bold answer to the classic burger joint. The Counter's website states their music is a little louder .... their jeans a little lower ... and their premium build-your-own burger experience offers over 312,000 combinations of burgers. The concept is to select your favorite ingredients to build your own perfect burger ... which, I must add, is not as easy as it sounds - the options seem endless. Diners have a choice of Beef, Chicken, Turkey or Veggie burgers served on either a bun or in a bowl. Then there's a selection of cheese to choose from (including Gruyere, Herb Goat Cheese and Horseradish Cheddar). Once you've made those decisions y...
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By COMPASS PALM SPRINGS | Stewart Penn, COMPASS Palm Springs - Broker Associate
(COMPASS)
In July last year I blogged about 1200 N Sweetzer Ave - an attractive new condo development in West Hollywood. At that time, I mentioned that prices in the 10-unit building varied from $799,000 for a 1-bed 2-bath 1141 sq ft condo to $1,449,000 for a 2-bed 2.5-bath 1802 sq ft loft. That priced the condos at between $700 - $831 per square foot ..... well above the going rate at the time. Nine months later and prices have been reduced to between $590 - $735 per square foot ..... still way above the current market. Two units are now in escrow but that still leaves 80% of the units available. The remarks in the MLS Listings say: " MUST SELL! - THE TIME IS NOW! - ALL OFFERS CONSIDERED." It will be interesting to see how the market responds.
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By COMPASS PALM SPRINGS | Stewart Penn, COMPASS Palm Springs - Broker Associate
(COMPASS)
West Hollywood Condo Open Houses - April 11, 2010 (From 2-5pm) If you're not represented by a Realtor/Broker and would like additional information on any of the Open Houses scheduled, please do not hesitate to call or email me: Stewart Penn (310) 866-1818 - stewart@pennpropertiesla.com 855 N Croft Ave #PH1 - 2 Bed 2.5 Bath -  $1,575,000 855 N Croft Ave #PH3 - 2 Bed 2.5 Bath - $1,395,000 1100 Alta Loma #606 - 2 Bed 2.5 Bath - $1,250,000 912 N San Vicente #4 - 3 Bed 2.5 Bath - $1,129,000 925 N Genesee Ave #3 - 2 Bed 2.5 Bath - $1,069,000 912 N San Vicente #1 - 3 Bed 2.5 Bath - $999,000 1220 Orange Grove $12 - 2 Bed 2.5 Bath - $880,000 1037 N Laurel Ave #16 - 2 Bed 2 Bath - $850,000 1033 Carol Drive #108 - 2 Bed 2.5 Bath - $700,000 999 N Doheny Dr #1101 - 1 Bed 1 Bath - $699,000 8562 West ...
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By COMPASS PALM SPRINGS | Stewart Penn, COMPASS Palm Springs - Broker Associate
(COMPASS)
855 Croft Avenue, Los Angeles, CA 90069 In the current market it's strange to see price increases in new developments! The MLS listings for two units at 855 N Croft Avenue, Los Angeles (adjacent to West Hollywood) have been updated to increase prices by as much as $100,000 a unit. Penthouse #1 was increased from $1,495,000 to $1,575,000. The unit measures 2044 sq ft, so this price increase takes the rate per square foot from $731 to $770 - an increase of over 5%. Penthouse #3 was increased from $1,295,000 to $1,395,000. The unit measures 1837 sq ft, so this price increase takes the rate per square foot from $704 to $759 - an increase of almost 8%. At the time of writing this blog no units in the recently launched complex are in escrow - so I'm still trying to understand this move by the...
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