2039 Glencoe Way Los Angeles, CA 90068
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About this home
Immersed in the fabric of Los Angeles, this hillside Mediterranean jewel offers numerous lounging decks and rooftop terraces with views of iconic landmarks. This storied duplex comprises both 2039 and 2041 Glencoe Way and was previously owned by Theo Wilson, a trailblazing journalist for the Los Angeles Times and New York Times. Experience a dreamy, enchanting lifestyle that only a home of this original character can provide, with rich period aesthetic details preserved inside and out. Vivid color complements moody hues to inspire deep thought and creativity. At 2041, enjoy authentic Spanish terra cotta tile floors, stucco fireplace, and built-ins in the delightful living room with French doors that open to the front patio. The kitchen is warm and inviting with a subway tile backsplash, aegean blue cabinetry, stainless-steel appliances, and bar ledge. The formal dining room, with its rich wood floors, also has French doors to the outside. A wrought-iron staircase leads to the primary bedroom with picture windows framing sweeping views of the city, and secondary bedrooms and bathrooms have built-ins and period details. One of the bedrooms has its own private entrance, offering added flexibility and privacy. There is also an office/gaming room with vaulted ceilings with exposed beams surrounded by striking vistas of treetops and hillsides. The living room of 2039 features an original 1926 brick fireplace, entertainer's bar, charming bookcase, and lofty ceiling with exposed beams, with direct access to a spacious patio perfect for outdoor gatherings. The eat-in kitchen has been extensively and beautifully updated with copper hardware, open shelving, bright subway tile backsplash, an abundance of cabinetry, and top-of-the-line appliances. The primary bedroom has a large skylight, French doors opening to a rooftop lounging deck, an adjacent sitting alcove with picture window, and en-suite bathroom. The secondary bedroom, currently used as an office, offers direct access to the outdoors and features its own en-suite bath. Relax, entertain, and dine al-fresco from multiple tiered patios, screened for privacy from the street, including a trellis-covered outdoor dining room with views of the hills and city. Both addresses include covered parking and an in-unit laundry. Live in one and rent out the other for a steady flow of passive income. The Hollywood Bowl is also close by, with no need for ride-share or transportation. 2039 is Luxury Exempt and therefore not subject to the limitations of rent control. Within the last five years, many updates have been made throughout; both addresses have newer water heaters, water filtration systems, and HVAC. New doors and windows come with a transferrable 10-year warranty. 2041's upgrades include a newly installed EV charging station and kitchen appliances (three years), and 2039's kitchen has updated flooring, cabinetry, lighting, and appliances (two years). Welcome!
Source: CLAW #25602823
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FAQs
Roam is your trusted partner for affordable home ownership. We help manage the assumption process from start to finish, enabling homebuyers to easily purchase their next home with a low-interest rate mortgage attached.
To qualify, you must meet the current FHA, VA, or USDA loan requirements depending on the type of loan you are assuming. This typically means a minimum credit score of 580, although most lenders prefer 620-640. Your debt-to-income ratio should be under the 50% max under FHA guidelines. Additional information such as employment history, explanations of income for each applicant, and asset verification for a down payment may be needed to process the loan.
An assumable mortgage is a type of home loan that allows a homebuyer to take over the existing mortgage terms from the seller, with no cost to the seller. Many government-backed loans, such as FHA and VA loans, are eligible for assumption, and millions of these mortgages are available.
When interest rates on mortgages are high, assuming a mortgage with a rate as low as 2% allows buyers to save up to thousands monthly compared to buying a home with a traditional mortgage at today’s average rates of 7%. A low-rate assumable mortgage could be the key to finding your dream home at an affordable price.
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When assuming the existing mortgage as part of a home purchase, the buyer has to cover the seller’s equity in the home. The seller’s equity is the purchase price minus the remaining mortgage balance. This amount must be covered in full through an all-cash down payment or by taking out a second mortgage.
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