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1859 Echo Park Avenue

1859 Echo Park Avenue, Los Angeles, CA, USA

Under Contract

$1,525,000

Property Description

Marcus and Millichap is pleased to present a five (5) unit apartment building located at 1859 Echo Park Avenue in Los Angeles, California. The subject property is located in a prime Echo Park location, west of Park Drive and south of Baxter Street.

Echo Park is a diverse and eclectic area, attracting strong development and new residents every year. Echo Park is a rapidly changing rental market that is adjacent to Silver Lake and Downtown Los Angeles. Echo Park has been subject to an invigorated stream of new housing development, community re-positing, and an increased demand of living in the area. Anchored by an eponymous lake dotted with swan boats and lotus flowers and wrapped around Los Angeles’s second-largest park, the Echo Park neighborhood is also a nature-lover’s refuge in the heart of the city. Sunset Boulevard is the main thoroughfare and commercial artery that runs through the neighborhood, where along the boulevard and side streets you’ll find local favorites such as the Andante Coffee Shops, Mohawk Bend, and countless nightlife entertainment including the Short Stop and Sunset Lounge. Locals and visitors alike enjoy paddle-boating around the lake and watching the world-famous Los Angeles Dodgers play at Dodger Stadium. Over the last decade, Echo Park has been transforming into a proud revitalizing landmark within the City of Los Angeles.

Built in 1920, this property consists of a great unit mix of four (4) one-bedroom / one-bathroom units and one (1) one-bedroom / one-bathroom and den unit. This asset has wonderful landscaping with spacious patios and lush curb appeal. The property offers ample privacy on a quiet street while also offering five (5) on-site parking spaces that have the potential to convert into multiple ADU Unit(s). The units are spread across three (3) detached buildings with two (2) single family dwellings and one (1) triplex. This character, craftsman style property boasts an on-site laundry room for tenant convenience. Residents will love being within a few miles of many trendy restaurants, nightlife, and entertainment options such as Canyon Coffee, Modo Yoga LA, Elysian Park, Dodger Stadium, and Echo Park Lake. Minutes away from the -101 and -5 freeways, this location provides its tenants quick and easy access to major employment
hubs of Los Angeles.

Positioned in a prime Echo Park location, this offering presents an exceptional opportunity for an investor to capitalize on a character, craftsman style asset with tremendous upside.

Contact Agent

Jason Tuvia

818.212.2735

Unit Mix

Four (4) One-Bedroom / One-Bathroom Units
One (1) One-Bedroom / One-Bathroom and Den Unit.

Property Type

Multifamily

Submarket

Price

Size

2,741 SF

Total Units

Year Built

1920

Property Location

1859 Echo Park Avenue, Los Angeles, CA, USA

Property Description

Marcus and Millichap is pleased to present a five (5) unit apartment building located at 1859 Echo Park Avenue in Los Angeles, California. The subject property is located in a prime Echo Park location, west of Park Drive and south of Baxter Street.

Echo Park is a diverse and eclectic area, attracting strong development and new residents every year. Echo Park is a rapidly changing rental market that is adjacent to Silver Lake and Downtown Los Angeles. Echo Park has been subject to an invigorated stream of new housing development, community re-positing, and an increased demand of living in the area. Anchored by an eponymous lake dotted with swan boats and lotus flowers and wrapped around Los Angeles’s second-largest park, the Echo Park neighborhood is also a nature-lover’s refuge in the heart of the city. Sunset Boulevard is the main thoroughfare and commercial artery that runs through the neighborhood, where along the boulevard and side streets you’ll find local favorites such as the Andante Coffee Shops, Mohawk Bend, and countless nightlife entertainment including the Short Stop and Sunset Lounge. Locals and visitors alike enjoy paddle-boating around the lake and watching the world-famous Los Angeles Dodgers play at Dodger Stadium. Over the last decade, Echo Park has been transforming into a proud revitalizing landmark within the City of Los Angeles.

Built in 1920, this property consists of a great unit mix of four (4) one-bedroom / one-bathroom units and one (1) one-bedroom / one-bathroom and den unit. This asset has wonderful landscaping with spacious patios and lush curb appeal. The property offers ample privacy on a quiet street while also offering five (5) on-site parking spaces that have the potential to convert into multiple ADU Unit(s). The units are spread across three (3) detached buildings with two (2) single family dwellings and one (1) triplex. This character, craftsman style property boasts an on-site laundry room for tenant convenience. Residents will love being within a few miles of many trendy restaurants, nightlife, and entertainment options such as Canyon Coffee, Modo Yoga LA, Elysian Park, Dodger Stadium, and Echo Park Lake. Minutes away from the -101 and -5 freeways, this location provides its tenants quick and easy access to major employment
hubs of Los Angeles.

Positioned in a prime Echo Park location, this offering presents an exceptional opportunity for an investor to capitalize on a character, craftsman style asset with tremendous upside.

Contact Agent

Jason Tuvia

818.212.2735

(818) 448-4415

CalBRE #01772495

Unit Mix

Four (4) One-Bedroom / One-Bathroom Units
One (1) One-Bedroom / One-Bathroom and Den Unit.

Property Details

Property Type

Multifamily

Submarket

Echo Park

Price

$1,525,000

Price per Unit

$305,000

Price per SF

$556.37

Status

Under Contract

Size

2,741 SF

Total Units

5

Year Built

1920

Property Location

1859 Echo Park Avenue, Los Angeles, CA, USA

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