With 2,770,576 views across all my social media platforms, my 2nd most-watched video of 2023 was about this for sale home that is located on a bridge!
This is what affordable housing in LA looks like! #repost
Check out the jaw-dropping sale price of the Alhambra "under the bridge" property!
Bridge home in Alhambra has officially sold!
1 bed/1 bath, 462 sq ft of living space.
Asking price: $249,950
Selling price: $430,000 all cash
Supply shortage keeps LA home prices afloat
Spring 2023 has shaped up as one of the slowest-selling seasons on record for Southern California.
Low housing inventory has kept home prices afloat.
See what affordable housing in LA looks like! Interested?!
This "waterfront" home has 1 bed/1 bath, 462 sq. ft. of living space, and is on a 1,819 sq. ft. lot.
The property is below street level and embedded into the side of a bridge overlooking the Alhambra wash.
Text me if you want a tour: 818-445-7953.
Luxury home sales in LA plummet after "Mansion Tax" start date
Measure ULA — also known as the “mansion tax” — was passed by L.A. voters in November 2022 to establish the city’s first dedicated stream of affordable-housing revenue. The measure adds a 4 percent tax to sales over $5 million and 5.5 percent tax to sales over $10 million.
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.
