Types of Condominiums

Los Angeles condominiums are as varied as the people who occupy them.

Depending on the building or complex, you may see condos referred to by a number of different terms. Here is a brief introduction to the types of condominiums in the greater Los Angeles marketplace.

A Note About Common Interest Developments (CID): There are many types of residential communities in which the owners share an interest in ownership. They are known as Common Interest Developments, and, along with condominiums and cooperatives, may include single-family house developments (such as golf course communities) and manufactured home communities. According to the California Department of Real Estate, all CIDS “…allow individual owners the use of common property and facilities and provide for a system of self-governance through an association of the homeowners….” All condominiums are CIDs but not all CIDs are condominiums.

High-rise: High-rise buildings, which make up most of the dazzling skyline of West Los Angeles’ Wilshire Corridor, are built to take maximum advantage of panoramic views and to provide residents with a full array of luxury services. From valet parking and full-time doorman to on-site pools, spas, exercise facilities, banquet rooms, conference centers and concierge services, high-rise buildings offer all-convenience living in nearly self-contained elegance. Individual units may have sundecks or balconies, and many have high ceilings and few shared walls, affording the maximum privacy. Most high-rise buildings have one or more penthouse floors; many have one or more levels of underground parking.

Low-rise: Low-rise condominiums may be traditional structures of two to six floors or may be “clusters” of multiple units grouped around landscape features such as fountains, lakes, waterfalls and courtyards. The latter may be called Garden Style and individual units may be designed with multiple private entrances and secluded patios. While some vintage Los Angeles low-rise condominiums have fewer amenities than their high-rise counterparts, newly constructed complexes spare nothing in the way of top-of-the-line features, materials, and services.

Townhouse: Townhouses, or townhomes, offer the closest alternative to living in a single family house. Townhouses typically have their own garage with direct access to living areas. They may have two or more floors and often feature enclosed patios or gardens, roof decks and fireplaces. Townhouses are often clustered around common areas that include a swimming pool, spa, and other shared recreation facilities.

Loft: Loft living, once an affordable alternative for artists seeking large, high-ceilinged space, is today a viable and attractive urban lifestyle. Multi-floor warehouses with large windows, high ceilings, freight elevators, exposed brickwork, structural posts and enormous beams, have been converted into comfortable, creative condominiums in the city center near museums, theatres, stores and nightclubs. Loft space is often situated near the city’s rapid transit hubs. As more and more city dwellers seek residential lofts, amenities for both buildings and loft ‘neighborhoods’ are on the increase.

Co-op: According to the International Cooperative Alliance, a cooperative is “an autonomous association of persons united voluntarily to meet their common economic, social and cultural needs and aspirations through a jointly-owned and democratically-controlled enterprise.” Before there were condominiums, there were co-ops. Although they’ve been around since the mid-1850s, co-ops began to flourish after World War II and the 1980s saw many apartment buildings being converted to cooperatives. While condominium owners hold title to their individual unit and a portion of the common areas and the land beneath the structure, co-op owners own shares of the corporation, which owns the property, and hold a perpetual or proprietary lease on a designated space within the building. Co-ops rely heavily on shareholder participation; decisions about the building, shareholder screening, and maintenance, as well as the associated costs, are managed democratically. Co-ops may place limits on resale prices to keep housing affordable.

Whatever your LA condo lifestyle, we can help you find the area, the building, and the condominium that you can call home. E-mail or call today at 310-278-6033.

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