Spaulding Square in Los Angeles is considered a Historic Preservation Overlay Zone
So what does that mean to a potential buyer or seller? Prior to answering the question I would like to give a little background and history.
Spaulding Square consists of mostly Single Family Homes built around the 1916 -1926. A real estate developer purchased the parcel of land between what we consider Orange Grove Ave on the west and Spaulding Ave on the east, the north boundary being Sunset Blvd and the South bounder being Fountain Ave.
This developer than had the plot subdivided around 1914 and began building these modest one story homes around 1916. His name was Albert Starr Spaulding. He was a great marketer in a time when the entertainment industry was just beginning to flourish and up and coming stars started buying and settling into the neighborhood.
Over the years it remained a magnet for movie industry technicians, musicians who were quietly living in this great pocket of Los Angeles.
Buying a home in a Historic Preservation Overlay Zone has benefits as well as drawbacks. The benefit attract like minded home owners who want to preserve a part of Los Angeles History as well as rehabilitation tax credits and these benefits are reaped through the Mills Act to name one. I will provide links here to the many other ones as well.
http://www.preservation.lacity.org/hpoz/la/spaulding-square
The drawbacks are that one cannot just tear down a home and start fresh, nor can one use any materials found at places like Home Depot or others similar to that. Instead one has to follow the Historic Preservation Organization’s guide lines; hence it could be time consuming and costly to do repair, updates or any modifications. These would be monitored not just by the historic preservation organization, but your neighbors and the Los Angeles Building Department as well.
http://www.preservation.lacity.org/incentives
Hence it is not for everyone. Would you be interested in finding such neighborhoods as Spaulding Square or other Historic neighborhoods in the Greater Los Angeles area feel free to reach out to me directly.
If you are considering buying or selling a luxury home, or an ultra luxury home, or luxury investment real estate, or luxury vacation homes, or luxury beach properties in Southern California, Los Angeles, Century City, Westwood, West Hollywood, Beverly Hills, Marina Del Rey, Venice or Malibu. Feel Free to give me a call at 310.486.1002 or email me at homes@endrebarath.com or visit one of my websites at http://www.endrebarath.com Your Pet Friendly Realtor. I contribute a portion of my commission to Local Animal Rescue Organizations
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