LA’s infamous Cecil Hotel goes up for sale

The Cecil Hotel — the infamous Los Angeles site of mysterious deaths and a Netflix true crime documentary — is now up for sale.

The property was developed as a luxury hotel in the 1920s but was converted to homeless housing in 2019 with $45 million in financing from the L.A. City Council. It reopened in 2021 as the Hotel Cecil Apartments.

According to the listing on LoopNet, there are 91 years remaining on the ground lease for the 601-unit housing complex.

The hotel’s history is so grim that it has inspired both real and fictionalized accounts of horror. At least 16 people have died on the premises, according to Esquire.

Perhaps the most famous case was that of a Canadian tourist, who was killed in the hotel under mysterious circumstances. In 2013, she went missing for 19 days before being found in a water tank at the roof of the hotel. The mystery surrounding the case resulted in a Netflix documentary called “Crime Scene: Vanishing at the Cecil Hotel.”

The property also housed serial killers Jack Unterwerger and Richard Ramirez (also known as the Night Stalker). Ramirez reportedly stayed in the hotel during his 1985 killing spree.

This hotel’s notoriety reportedly inspired the fifth season of television anthology series “American Horror Story.” In a 2015 interview, Ryan Murphy, the show’s creator, said that he based the season on the Cecil Hotel and the disappearance of the Canadian tourist.

The asking price for the Cecil Hotel was not disclosed.

Want a tour? Text me at 818-445-7953.

Source: The Real Deal

Clippers' Kawhi Leonard's DTLA Penthouse hits the market. Slam dunk living!

Did you see what LeBron did to the Clippers last night? What a great comeback win for the Lakers! Maybe that's why Kawhi Leonard is selling his Downtown LA. penthouse...

This condo has 3 bed/4 bath, and 4,200 sq. ft. of living space.

The penthouse features city views, glass walls, wood floors, and 2 fireplaces.

Building amenities include concierge service, rooftop pool, spa, fitness center, and valet parking.

Asking price: $6,500,000

Text me for a tour at 818-445-7953.

The little house that could: See LA's smallest home sold this week!

Do you think this tiny home is worth the purchase price?

Here is the smallest home sold this week in Los Angeles.

The home has 1 bed/1 bath, 448 sq. ft. of living space, and is on a 5,201 sq. ft. lot.

Peek inside actress Ashley Benson's GLAM Los Feliz estate!

That's how you pronounce "Los Feliz".

Ashley Benson's Los Feliz estate is now in escrow!

The Spanish Revival estate features a drop-down theatre screen, Control-4 smart system, a gourmet custom kitchen, a speak-easy VIP lounge bar, and a hair salon.

Asking price: $9,499,000

Text me if you want to put in a backup offer 818-445-7953.

The new "mansion tax" that starts Saturday is now projected to bring in 25% less than original estimates advertised to voters in November.

This past November, Los Angeles voters backed Measure ULA, a transfer tax on big-ticket property sales that the city says will generate a new revenue stream for affordable housing projects and homelessness prevention. Known as the “mansion tax,” Measure ULA will impose a 4 percent tax on property sales above $5 million and a 5.5 percent tax on properties above the $10 million mark. The tax must be paid by the seller.

The City of Los Angeles now expects to make a lot less from its new transfer taxes than originally advertised.

Measure ULA is projected to generate up to $672 million in revenues from July 1 of this year through June 30 of next year, according to an analysis from the City Administrative Office, which conducts financial and budget analyses. The office released its report 2 weeks ago.

The new numbers are about 25 percent less than original estimates provided to voters in November, assuming about $5.1 billion less in property sales.

US home sales surged in February as mortgage rates dipped

Sales of previously occupied U.S. homes surged in February to the fastest pace in six months as homebuyers seized on a modest drop in mortgage rates.

Existing home sales jumped 14.5% last month from January to a seasonally adjusted annual rate of 4.58 million, the National Association of Realtors said Tuesday.

The surge in sales — the biggest on records going back to 1999 — ended a 12-month slide that knocked the nation’s housing market into its deepest slump in nearly a decade and left sales in January at the slowest pace in more than a dozen years.

Home sellers are now seeing 5, 12, even 20 offers

Last year around this time it was not unusual to see 30 offers for one property. That is not an exaggeration. Then interest rates went up and buyers got scared. In the 4th quarter of 2022, a home on the market was lucky to get 1 offer.

Today, buyers have accepted the higher rates and are actively looking to buy.

I can now report that homes that are priced at market value and are in a decent location are seeing multiple offers again. I have first-hand knowledge of homes in and around the San Fernando Valley that are getting 5, 12, or even 20 offers.

The homes that are overpriced or in a bad location are sitting on the market. Some will point to those homes and say the market is tanking. If you believe the market is tanking then you are not in the real estate trenches.

Looking for a cheap condo in DTLA? Well, look no further!

The cheapest condo for sale this week in DTLA.

This condo has 0 bed/1 bath and 460 sq. ft. of living space.

The 2nd-floor unit features open-concept living, exposed brick, an in-unit washer/dryer, and a soaking tub in bathroom.

The Historic Rowan Building features 24-hour security with a full concierge, 2 community BBQs, and hot/cold plunge pools.

Asking price: $388,000

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Reside in a historic building on the famous intersection Hollywood & Vine! Sign me up!

Here is the cheapest condo for sale in Hollywood.

Asking price: $899,000

This condo has 1 bed/1 bath and 1,380 sq. ft. of living space.

The historic Broadway Hollywood building, built in 1928 as a department store, was converted into 96 loft condominiums in the early 2000s.

The building features a 24 hr. doorman, valet parking, a rooftop pool, cabanas with a firepit, and a gym.

Text me if you want a private tour at 818-445-7953.

4th most-watched video of 2022!

With 284,875 views across all my social media platforms, here is my 4th most watched video of 2022!

This property is known as "The One".

Check out the cheapest condo sold this week in DTLA!

Good thing there is 24-hour security.

Here is the cheapest condo sold this week in DTLA.

Asking price: $425,000

Selling price: $405,000

This condo has 1 bed/1 bath and 670 sq. ft. of living space.

Building amenities include a rooftop pool, a fitness center, and a convenient local market in the complex.

95% of home sellers made improvements before listing property

Between mid-July and mid-August, about 95% of home sellers made updates or repairs before listing their properties, up from 71% of sellers 6 to 12 months ago, according to Realtor.com. They spent an average of $14,163.

My newest off-market property is this updated home in Northridge! Take a look!

For the general location, in Google maps, put in "Reseda Blvd. and Nordhoff St."

This corner lot home has 3 bed/2 baths, 1,542 sq. ft. of living space, and over 6,151 sq. ft. for the lot.

The updated home features a remodeled kitchen with a breakfast bar, and the 2-car garage has been converted into a home gym.

Text me for more info at 818-445-7953.

See this fully renovated home that just sold in Mid-City, Los Angeles!

Here is the cheapest home sold this week in Mid-City LA.

Asking price: $795,000

Selling price: $775,000

This home has 3 bed/2 bath, 1,265 sq. ft. of living space, and is on a 2,000 sq. ft. lot.

The fully renovated home has a new kitchen, bathrooms, windows, flooring, mini-split AC, electrical, plumbing, etc.

It is close to Midtown Crossing shopping center and just minutes from K-Town, DTLA, West Hollywood, and Beverly Hills.

Off-market home available on a quiet, cul-de-sac in Northridge! Text me!

For the general location, in Google maps, put in "Plummer St. and Balboa Blvd."

This home has 3 bed/2 baths, 1,700 sq. ft. of living space, and over 7,600 sq. ft. for the lot.

The newly updated home features gray laminate flooring, recessed lighting throughout, and a marble fireplace in the living room.

The backyard has a large, covered patio with a fire pit and a grassy area.

Text me for more info at 818-445-7953.