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REAL ESTATE : HOME OF THE WEEK

High life in Century City

October 05, 2008|Diane Wedner | Times Staff Writer

It just may be possible to move on up -- and down -- at the same time.

Century City, which used to appeal to a stodgier crowd, has transformed into a hip haven for singles and couples with money. Empty-nesters also are heading there to downsize into high-end -- and high-rise -- buildings. Candy Spelling, for example, is moving down from her 123-room, 56,500-square-foot Holmby Hills mansion to a 16,500-square-foot, $47-million condo in the Century, a building going up next door to the Century Plaza Hotel on Avenue of the Stars.

A stone's throw away, this completely remodeled condo is available in one of the Century Towers designed by I.M. Pei in 1964. The famed architect is known for, among numerous structures, the East Building of the National Gallery of Art in Washington and the Creative Artists Agency building in Beverly Hills (the agency has moved, coincidentally, to Century City).

The twin 28-story Century Towers provide concierge service, valet parking, a swimming pool, tennis courts, a gym, a library and 24-hour security. They're within walking distance to upscale shopping and restaurants.

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diane.wedner@latimes.com

To submit a candidate for Home of the Week, send high-resolution color photos with caption and credit information on a CD and a detailed description of the house to Diane Wedner, Real Estate, Los Angeles Times, 202 W. 1st St., L.A., CA 90012. Questions may be sent to homeoftheweek@latimes.com.

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BEGIN TEXT OF INFOBOX

A '60s condo gets an updateLocation: Century City

Asking price: $1,695,000

Previously sold: April 1, 2008, for $1.051 million

Size: Two bedrooms and two bathrooms in 1,630 square feet

About this condo: Designer Nicole Sassaman had her work cut out for her when she purchased the condo this year. The "very '60s" unit was "darker than it needed to be and was a rat's maze." She gutted it and expanded the space by enclosing the three balconies and putting in floor-to-ceiling glass. That expansion brought the impressive views of Century City closer. She also converted hallway space into walk-in closets and enlarged the bathrooms. Homeowner association dues for this unit are $1,186 a month.

Additional features: The condo has a living room, a master suite with a walk-in closet and sitting area, a glass-tiled shower, custom cabinetry, concealed washer-dryer units and white oak floors, stained charcoal gray. The Viking professional kitchen has poured-concrete counters; Walker Zanger quartz stone; and suspended shelves on one wall, instead of solid cabinets.

Around the neighborhood: Forty-eight condos sold in the 90067 ZIP Code through August this year, according to MDA DataQuick. The median price was $880,000. From January through December 2007, 117 units sold and the median price was $840,000. There are more than 500 attached units completed in Century City; currently, 61 are listed for sale. The least expensive, at $579,000, has one bedroom and one bath in 822 square feet. The most expensive, at $15.25 million, has three bedrooms and 4 1/2 bathrooms in 6,144 square feet.

Listing agent: Marie Healey, Prudential California Realty, (310) 777-2838

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ON THE MARKET: VALLEY FORECLOSURES

2007 Chivers St., San Fernando 91340

Size: The three-bedroom, two-bathroom home of 1,380 square feet sits on a 7,155-square-foot lot.

Agent description: "Bank owned. . . . Remodeled house on quiet street. Near-new granite counters, bath. Good floor plan with master bedroom, raised foundation, hardwood floors, two-car garage, big private yard."

Listed for: $339,900

Previously sold for: $542,000 in December 2006, according to a public-records search by the website Redfin.

Discount from previous sales price: 37%

About this area: In the 91340 ZIP Code, the median sales price of existing homes in August was $300,000, a decline of 29.2% from the August 2007 median, according to MDA DataQuick. There were 73 foreclosures in this ZIP Code in the second quarter of 2008.

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16856 Los Alimos St., Granada Hills 91344

Size: The three-bedroom, 1 1/2 -bathroom home of 1,234 square feet sits on a 7,000-square-foot lot.

Agent description: "Just fell out of escrow! Great location, close to everything! Located on a quiet residential street . . . in-ground pool . . . large family room, new carpeting and paint, new stove. Nice covered porch overlooking the pool. Needs some minor work."

Listed for: $399,000

Previously sold for: $560,000 in December 2005, according to Redfin.

Discount from previous sales price: 29%

About this area: In the 91344 ZIP Code, the median sales price of existing homes in August was $410,000, a decline of 26.5% from the August 2007 median, according to MDA DataQuick. There were 92 foreclosures in this ZIP Code in the second quarter of 2008.

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9000 Lemona Ave., North Hills 91343

Size: The three-bedroom, two-bathroom home of 1,346 square feet sits on a 7,550-square-foot lot.

Agent description: "Attractive traditional home with stone accents. Located in a good area of North Hills on a quiet street. This home features a large pool, fire pit and a great entertainer's backyard. . . . Needs some work."

Listed for: $305,000

Previously sold for: $450,000 in July 2005, according to Redfin.

Discount from previous sales price: 32%

About this area: In the 91343 ZIP Code, the median sales price of existing homes in August was $402,000, a decline of 28.1% from the August 2007 median, according to MDA DataQuick. There were 107 foreclosures in this ZIP Code in the second quarter of 2008.

-- Peter Viles

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