For anyone wanting an update on the downtown rental market (prices, availability), please turn your attention to Union Lofts, located at 325 W. 8th Street. A 92-unit building erected in 1922 (the former Union Bank building), the project opened a few months ago for leasing and is now offering 500-square-foot studios starting at $1,189 (a special deal is going on; normally they start at $1,321.) The largest units, 1,816-square foot-two-bedrooms normally rent out for $6,947. Hizzuh! A total of eight units have been leased to date (many of the studios are taken), while via a corporate deal, a chunk of units have been rented. Parking is down the street in an open-air garage, and here's something that's notable for a rental: all the units have a washer and a dryer.
· Union Lofts LA [Official Site]