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121 S Hope St | Promenade Condos

The Promenade is an amenties building in the bunker Hill Neighborhood in Downtown Los Angeles, with 24 hour front desk and large terraces.

The Promenade
121 S Hope St
Los Angeles CA 90012

The Promenade is a 140-unit 6-story midrise condo building in the Bunker Hill neighborhood of Downtown Los Angeles. Built in 1980 by Goldrich & Kest and Shapell Industries at an original cost of $26M, this terraced complex was intended to be a stark contrast to the nearby high rise commercial structures. It reminds me of hanging gardens from lush greens on garden terraces and mature trees.

Peter Kamnitzer, of architectural firm Kamnitzer Cotton Vreeland designed Promenade West. The German-born architect was well known for his public housing projects that included park-like grounds and used lots of outdoor space. Kamnitzer was also a professor at UCLA.

Promenade’s next store neighbor- Promenade West across the street, was built two years later in 1982 and is remarkably similar. You can tell the difference between the two buildings by their color, the Promenade is white and Promenade West is green.

There is a 20,000 sqft of commercial area onsite known as the Plaza that offers residents convenience and has a fountain.

Promenade West is sure to have you feeling pampered.

MAP

The promenade is located across from the Los Angeles music center at the corner of Hope and 1st.

The closest shops are onsite in Promenade Plaza. Promenade Plaza offers a small-scale retail experience, with a Bar, restaurant, yoga spot and a coffee shop. The Café puts on a saturdaynightjazzdtla.com every Saturday. In addition, there is a small grocery store, Bunker Hill Market, in bunker hill Tower.  

Bunker Hill is located near the high art cultural center of the city. World renown traveling Balet, Opera, Theater, and Symphony, are all at your fingertips with the Dorothy Chandler Pavilion, Ahmanson Theater, Walt Disney Concert Hall (Frank Gehry’s Masterwork is right across the street, some condos have views from their balconies), The Broad Museum, MOCA, and Colburn School of Music. No other place in LA has so much entertainment.

Easy access to the 5, 101, 110 freeways.

REAL ESTATE

Turnover Ratio: 5% or about 7 condos a year

Appreciation: 3.5%

Record Sale Price: $860,000 5/18/2006

All floorplans are single story. There is about a 50/50 mix of 1BR & 2BR floorplans with SQFT ranging from 950 to 1,500 sqft. If you are looking for a slightly bigger condo try Promenade West which has some 3 bedrooms.

(68) 1BR
950 Sqft 1100 sqft
  Pricing: $500,000

 (72) 2BR
Sqft 1200 – 1500
  Pricing $600,000 to -$650,000

All units have a special balcony with greenhouse arch glass. These glass walls let in a lot of light, and bring the outdoors in, which was the architect’s original intent. He wanted a building that was human scale, with lots of grounds and balconies so people could enjoy the outdoors.

The building allows hard surfaces anywhere inside the condos, so you can do your whole unit in hardwood if you like.

There are modest size kitchens right off the front entrance, mainly in a square configuration. Since the building is going on 40 years, many of the original condos have been remodeled. There is a big open living room with a combined dining room that seats 4. The kitchen has electric stoves.

Master bedrooms have their own master bath and LARGE walk-in closet. Central HVAC inside.

AMENITIES

-Lobby- with 24-hour security and front doorman

-Outdoor Pool and Spa

– Full Gym

PARKING AND LAUNDRY

Laundry: Laundry is community Laundry. There are two laundry rooms on each floor with two washing machines and two drying machines. There is an additional laundry room located on the P1 level for oversized laundry.

Parking: There is ample parking at Promenade with over 370 parking spaces in an 89,000 sqft subterranean garage. Owners get 1 parking space for one bedroom condos and two parking spaces for two bedroom condos. There are extra storage units in the garage. Guest parking?

HOME OWNERS ASSOCIATION

How much are the Promenade condos HOA Dues?

$800/mo.-$900/mo.

What do the HOA dues at the Promenade cover?

EQ insurance, Building Maintenance, Building Insurance, Water, Basic Cable, Trash, Front Doorman

What does the Homeowner have to pay for?

Electric, Internet, Premium Cable

Are there any special Assessments?

None

What is the Pet Policy at the Promenade?

1 pet under 25lbs allowed

What is the Rental Policy at the Promenade?

Must own condo one year before renting.

EQ Insurance?

 Yes

CCRs?

Are there any Special Move in Instructions?

Can you have a BBQ on the Balcony?

Who is the Property Management Company?

Front Desk: 213- 617-8121
Office: 213-617-3076

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