The SBA loan program allows businesses/buyers to acquire a loan with only 10% down, a payment that can be made by either the company itself or the individual owner.  The loan, up to $2 million, can be fixed-rate or variable, depending on the borrower’s choice. And when it comes time to sell, the live/work properties are generally eligible for a tax-deferred exchange under IRS code 1031. This provision provides favorable tax options, avoiding the dollar gain limitations and occupancy restrictions imposed on typical residences.

Unlike traditional telecommuters, owners of work/live properties don’t allocate business expenses on a per-square-foot basis. Expenses can be fully deducted.

Per Keith R. Gercken, a tax attorney and partner with Sheppard Mullin Richter and Hampton, LLP:

The principal tax advantage of a live/work unit is that it is generally much easier to substantiate regular and business use of the business space if challenged by the IRS. The live/work unit also tends to be helpful in validating certain other requirements for taking a home office deduction, such as the fact that the office space is the taxpayer’s principal place of business or that it is used to meet with clients.

And you thought the Artist’s Lofts on Rose were just a great place to live, work and create. Turns out you just may get some tax advantages here, too.

The Firehouse also serves lunch and dinner and has a full bar. Last but not least, check out the movie “Speed.” The Firehouse is featured early on in the story (no guarantee that Keanu Reeves will be there when you visit).

When we say the Artist’s Lofts on Rose are conveniently located amid the Venice lifestyle, The Firehouse is one tasty example.

• Accountants
• Attorneys
• Consultants
• Engineers
• Health and fitness professionals
• Insurance, real estate and travel agents

Run your business from the spacious lower level of the loft. The open floorplan easily accommodates work stations and client meeting areas. Retreat upstairs to your living space, which includes a separate entrance via an interior building stairwell. (If you want to really retreat, head to the balcony that faces the sunset.) No matter what business you’re in–that’s a creative way to live and work!

• A condominium property, units in a common building.
• Open floorplan, allowing flexibility and originality in layout, furnishings and use.
• Upper and lower levels, separating work and living areas.
• Special zoning, allowing dual usage of properties in such areas as residences and businesses (types of permissible business activities likely to be regulated.)
• Special financing, specifically SBA loans not available for purchase of ordinary residential real estate.
• Potential tax benefits, per the above point on zoning, Live/Work Lofts can earn certain tax deductions not available at ordinary residential properties where a portion of space is dedicated to business.

So when you see a property meeting the above criteria, you are likely looking at a Live/Work Loft. If this sounds like an interesting lifestyle/business choice–take a look at the Artist’s Lofts at Rose!

• Units still for sale (Hurry, only two left)
• Buying and enjoying live/work lofts (a great lifestyle and business choice)
• Life in Venice (everything you’ve heard is true…especially the cool parts)

This site offers more than just property info and pictures (although you’ll find plenty of both on indicated pages). We want you to learn about the live/work movement and why it may be right for you. Let’s face it–more and more of us are doing the live/work lifestyle already. You might as well have a great property that is designed for it.

Enjoy the site. Come back often for updates. And call us for a showing.

For more information on the Artist’s Lofts on Rose, contact listing agent Dan Verdin, (310) 383 6030, dverdin@wystein.com.