1650 Echo Park Ave

01-05-2022
06-06-2022

1650 Echo Park Ave, Los Angeles, CA 90026

  • 28 Unit, Best-In-Class Historic Art-Deco in Echo Park
  • Plans to Build Out 4 ADU's
  • CONTACT Listing Agents for Tours Schedule
  • Very Large & Spacious Units | Exposed Brick | Quality Renovations
  • Rare Opportunity in Premier Rental Market

Property Description

1650 Echo Park Avenue is considered an important landmark apartment community located in Echo Park (90026). The building's Art-Deco architecture and timeless renovations make this a “trophy asset”.
FAVORABLE UNIT MIX: 1650 Echo Park Avenue boasts a well-balanced unit mix including and ONE (1) Two Bedroom – One Bathroom unit, TWELVE (12) One Bedroom – One Bathroom units, and FIFTEEN (15) Studio apartments.
VALUE-ADD & WEALTH PRESERVATION: The current income, although stable, is slightly below the area’s market metrics. Market rents can be achieved as the units turn naturally over time.
STRONG EMPLOYMENT: The property is in the heart of Los Angeles and within minutes of major entertainment and employment opportunities Downtown, Silver Lake and Hollywood.
LACK OF HOUSING AFFORDABILITY: There is a significant affordability gap to home ownership in the 90026 zip code as the median home price in the direct area is approximately $1,134,635 and a typical monthly mortgage payment is considerably more than the average renovated rents at 1650 Echo Park Avenue.

Part of a Three (3) Property Portfolio (80 Residential & 4 Comm'l Units):
1416 Echo Park Avenue – 32 Residential Units
1650 Echo Park Avenue – 28 Residential Units)
1461 W Sunset Blvd. – 20 Residential Units and 4 Commercial Units

Key Property Information

Listing Status
Available
Listing Type
Highest & best offer
Multifamily type
Mixed-Use
Price
$ 11,125,000
No. of Units
28
Cap Rate
4.2%
GRM / GIM
15.5
Year Built
1928
Year Renovated
2019
Building Size
20,889 Sq ft
Lot Size
9001 sq ft
No. of Stories
4
Opportunity Zone
No
Price per unit
$ 397,321
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34.082715, -118.25426

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