El Dorado Lofts in Downtown Los Angeles: 1914 Hotel Conversion Brings Craftsman-Era Magnificence to Old Bank District

El Dorado Lofts at 416 S Springs Street in Downtown Los Angeles will not be auctioning 44 of its 65 units at an event on April 25, 2010. Update 4/16/10: The auction has been canceled because of delays in the building obtaining a Certificate of Occupancy (per developer). The units will be sold through a traditional sales office, with prices starting at $280,000 for a 1 br-1 ba (848 sq ft) and $386,000 for a 2 br - 2 ba (1,176 sq ft).

Floorplans of this 12-story building range in size from 848 sq ft to 1,394 sq ft. HOA range from $456 - $622. Parking is not included with the purchase, but the building has a perpetual and exclusive parking easement with Bankhouse Parking Structure on 4th Street.

[from Los Angeles Historian Blog]

Located in the Old Bank District next to the Rowan Lofts and future Spring Street Park, the refurbished El Dorado Lofts hark back to a bygone era when this neighborhood was known as "Wall Street of the West".

The developer is Goodwin Gaw, responsible for the Rowan Lofts, the Hollywood Roosevelt Hotel, and in a large part revitalizing residential Downtown.

The grand lobby was a bustling hub for businessmen and frequent travelers, and a "much-proclaimed venue for local social events."

The El Dorado is certain to be full of life nearly a century later and a great addition to emerging Downtown scene. Be sure to grab a Burgundy or Malbec at the Must Wine Bar and small plates at the innvotiave eatery The Gorbals just down the block.

Dozens of tiles from the Pasadena-based Batchelder Tile Factory, harbingers in the Arts and Crafts movement, cover the lobby walls.

There are a couple of negatives -- the ceiling height feels low in some of the units and some of the new, exterior balconies feel a little rickety.

Regardless, the El Dorado's features are extensive and impressive:

• Bosch appliances with stainless steel finishes
• Granite countertops
• Grohe kitchen faucet
• Double-compartment Franke sinks
• Snaidero Italian bathroom cabinets
• Soaking tubs
• Toto bath faucet and shower sets

Clean, clean, clean ... and plenty of space to spread out in the 2 bedroom units.

And this view is amaze-balls!


El Dorado Lofts
416 S. Spring Street
Los Angeles, California 90013
www.eldoradolofts.com