Real Estate newsletter: An 1890s water tower finds new life
Welcome back to the Real Estate newsletter, your weekly window into the nation’s most interesting housing market — at least in my professional opinion. Where else does a 19th-century water tower turn into a pirate-themed retreat steps from the Pacific Ocean?
The local landmark was by far the week’s most interesting listing. Built in the 1890s and reimagined multiple times since, the 87-foot-tall structure in Sunset Beach is shedding its life as a luxury Airbnb rental and searching for a permanent resident (ideally one who’s willing to pony up $4.95 million.)
The San Fernando Valley saw some action in the early days of June as well, with rapper Polo G dropping roughly $5 million on a Chatsworth mansion with a souped-up garage. He joins Swae Lee, YG and DJ Mustard in the neighborhood, which is quickly becoming a haven for hip-hop stars.
Over in Los Feliz, a 101-year-old haunt with…