A friend of mine is thinking about buying a condo at the new Axis at Union Station. This new development of studios and 1 and 2 bedroom condos is located in Downtown LA adjacent to Union Station and Olvera Street. I passed by there this past weekend to check it out. It is still under construction, so I couldn't see the inside. The location is awesome. It is literally across the street from Union Station which means you have easy access to the Gold Line, Red Line, and of course Metrolink and Amtrak. You can easily walk to China Town or anywhere downtown. It would be a simple train ride to Old Town Pasadena, Hollywood, or even San Diego! It would be a dream for a transit rider like me.
I guess I could think about moving there myself, but I would find it hard to give up the west side ocean breezes, the single family home with a yard for the dog, and the laid back vibe of nearby Venice Beach.
I am wondering if getting one of the new condos would be a good investment. With the way Downtown LA is shaping up, it is almost certain that it will appreciate and be easy to rent. And if I own a unit there, I would always have to option of moving into it in the future. I will look into this.