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2436 Echo Park Avenue

2436 Echo Park Avenue, Los Angeles, CA, USA

For Sale

$2,595,000

Property Description

Marcus and Millichap is pleased to present an eight (8) unit multifamily property located at 2436 Echo Park Avenue in Los Angeles, California. The property is situated in a prime Echo Park location at the top of a hill in Elysian Heights, south of Riverside Drive and west of Stadium Way.

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 invigorate 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.

Originally built in 1930, this turn-key multi-layered apartment building contains a great unit mix of six (6) one-bedroom / one-bathroom units, one (1) two-bedroom / one-bathroom unit, and one (1) three-bedroom / one-and-a-half-bathroom unit across two (2) detached buildings. The property is positioned on a quiet residential hillside between two (2) streets, boasting panoramic views of surrounding cities and the Los Angeles National Forest mountain range from all the cottage style units. The building is fully turn-key including recent upgrades to the foundation, with solid remaining upside. RTI plans are included to build a two-story one-bedroom / one-bathroom ADU unit. Select units feature outdoor decks with incredible views, and two (2) units are currently vacant in the process of being leased up. In addition, the property features on-site laundry, four (4) garage parking spaces, and three (3) additional open parking spaces.

Situated in a prime Echo Park location, this offering presents an excellent opportunity for any investor to acquire turn-key, high cash flowing cottage style units on a rare hillside property in a core market of Los Angeles.

Contact Agent

Jason Tuvia

818.212.2735

Unit Mix

Six (6) One-Bedroom / One-Bathroom Units, One (1) Two-Bedroom / One-Bathroom Unit, & One (1) Three-Bedroom / One and a Half-Bathroom Unit

Property Type

Multifamily

Submarket

Price

Size

5,354 SF

Total Units

Year Built

1930

Property Location

2436 Echo Park Avenue, Los Angeles, CA, USA

Property Description

Marcus and Millichap is pleased to present an eight (8) unit multifamily property located at 2436 Echo Park Avenue in Los Angeles, California. The property is situated in a prime Echo Park location at the top of a hill in Elysian Heights, south of Riverside Drive and west of Stadium Way.

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 invigorate 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.

Originally built in 1930, this turn-key multi-layered apartment building contains a great unit mix of six (6) one-bedroom / one-bathroom units, one (1) two-bedroom / one-bathroom unit, and one (1) three-bedroom / one-and-a-half-bathroom unit across two (2) detached buildings. The property is positioned on a quiet residential hillside between two (2) streets, boasting panoramic views of surrounding cities and the Los Angeles National Forest mountain range from all the cottage style units. The building is fully turn-key including recent upgrades to the foundation, with solid remaining upside. RTI plans are included to build a two-story one-bedroom / one-bathroom ADU unit. Select units feature outdoor decks with incredible views, and two (2) units are currently vacant in the process of being leased up. In addition, the property features on-site laundry, four (4) garage parking spaces, and three (3) additional open parking spaces.

Situated in a prime Echo Park location, this offering presents an excellent opportunity for any investor to acquire turn-key, high cash flowing cottage style units on a rare hillside property in a core market of Los Angeles.

Contact Agent

Jason Tuvia

818.212.2735

(818) 448-4415

CalBRE #01772495

Unit Mix

Six (6) One-Bedroom / One-Bathroom Units, One (1) Two-Bedroom / One-Bathroom Unit, & One (1) Three-Bedroom / One and a Half-Bathroom Unit

Property Details

Property Type

Multifamily

Submarket

Echo Park (Elysian Heights)

Price

$2,595,000

Price per Unit

$325,000

Price per SF

$485.62

Status

For Sale

Size

5,354 SF

Total Units

8

Year Built

1930

Property Location

2436 Echo Park Avenue, Los Angeles, CA, USA

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