Following a look at the lobby of the downtown El Dorado, that restored building at 4th and Spring Streets in the Old Bank District that's headed to auction on April 25th, here's a walk-through of two model units.
The first unit is a 1,190- square foot one-bedroom, two-bath with an office that’ll have a starting bid of $365,000. This unit has one of those fabulous restored balconies. The second unit is a 848-square foot studio that has a starting bid of $275,000. That unit is notable because it overlooks the proposed park and has a balcony. Meanwhile, not featured in the photo set, but worth pointing out: There's a 1,7320-square foot penthouse that has basically half of the building's roof as a private roof deck--and the views from roofdeck are fairly stunning (the roofdeck, which is awaiting its wooden flooring, is featured in the photo set). The unit has a starting bid of $595,000. According to Downtown Properties' Bill Stevenson, that unit was originally priced at $1.55 million, and was in fact under reservation at one point with a buyer. Meanwhile, all of the front doors in all the units date back to 1898 and were taken from the Douglas Building. HOAs range from $422-$622. Of course, CIM Group is now having an auction for their Hancock Lofts on the same day as the auction for the El Dorado, but that doesn't seem to be an issue to anyone. "We're not concerned that the auctions are on the same day as we don't expect them to pull the same demographic," wrote Dan Lee, of auction company Intellimarket, in an email.
· El Dorado archives [Curbed LA]