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Loft in Downtown’s historic Douglas Building asks $475K

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Comes with some nice Mills Act tax breaks

This one-bedroom loft unit is located in Downtown’s historic Douglas Building, refurbished and retrofitted in 2005. The Spring Street structure was designed in 1898 by James and Merritt Reid. Along with third brother Watson, the Reid brothers also designed California landmarks such as San Diego’s Hotel del Coronado and San Francisco’s original Cliff House.

Originally constructed as an office building, the Douglas Building was, among other things, once home to the Southern Pacific Railroad’s ticketing office. Now, the handsome brick building has been converted into 50 “New York style” lofts.

This particular example has 740 square feet of floorspace, with a lofted bedroom accessed from the open living area. Per the listing, the unit’s ceilings are 11 feet tall and a long panel of windows rises seven feet in height. Other features include hardwood floors, vintage tilework, and updated kitchen appliances.

As an added bonus, the unit is eligible for Mills Act tax breaks, thanks to the building’s historic significance. The asking price has recently been reduced to $474,500. HOA dues are $640 per month.

An open house is scheduled from 1:00 to 4:00 p.m. Sunday.