1121 Echo Park Avenue
1121 Echo Park Avenue
$3,810,000
17
9
9,798
9,798
$389
Sold 6/17/22
Description
Situated just one parcel from Echo Park Lake and one block from Sunset Boulevard, the property offers tenants a prime location in the epicenter of this trendy submarket. With a unit mix comprised almost entirely of two bedroom units, the property's nine spacious floorplans cover approximately 9,798 square feet. The offering provides an investor with impressive cash flow for the area, with an initial CAP Rate of 4.69%. While similar properties in the area have sold for $600-$800 per square foot, 1121-1127...Situated just one parcel from Echo Park Lake and one block from Sunset Boulevard, the property offers tenants a prime location in the epicenter of this trendy submarket. With a unit mix comprised almost entirely of two bedroom units, the property's nine spacious floorplans cover approximately 9,798 square feet. The offering provides an investor with impressive cash flow for the area, with an initial CAP Rate of 4.69%. While similar properties in the area have sold for $600-$800 per square foot, 1121-1127 Echo Park Avenue is available for less than less than $395 per square foot. A new investor may benefit from reduced maintenance expenses, as the building does not appear on the LADBS seismic retrofit list (Buyer to verify). The property includes three buildings across the two parcels of land, which are zoned LAR3 and sit within a Tier 3 TOC (Buyer to verify). Given its close proximity to both Sunset Boulevard and Glendale Boulevard, the property allows tenants convenient access to some of Echo Park's trendiest shops and eateries. With Echo Park Lake immediately south of the property, tenants can enjoy the numerous benefits of one of Los Angeles' most popular parks.
- Listed by Roderick 'Rick' Raymundo • DRE #01357019 • Brokerage DRE #01240999 • Marcus & Millichap
Property Details for 1121 Echo Park Avenue
Zoning
LAR3
Parcel Number5404018009
Total Units9.0
Living Area9798
Source Living AreaEstimated
AreaSilver Lake (671)
Vacancy Rate0
Lot Size Area14998
Location
LISTING UPDATED: 05/05/2023 09:28 AM
Property Details for 1121 Echo Park Avenue
Status | Sold |
---|---|
MLS # | 22-148567 |
Days on Market | 58 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Residential Income |
Year Built | 1916 |
Lot Size | 0.34 AC / 14,998 SF |
County | Los Angeles County |
Location
Building Information for 1121 Echo Park Avenue
Stories2Residences-Year Built1916Building Size-Lot Size0.34 AC / 14,998 SF
Payment Calculator
$22,671 per month
The Payment Calculator is for illustrative purposes only.
Property Information for 1121 Echo Park Avenue
Property History for 1121 Echo Park Avenue
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 1121 Echo Park Avenue
Taxable ValueLand$1,101,600Additions$714,000Total$1,815,600
Tax Record2023$22,541 ($1,878 / month)
Home Facts
Total Finished SqFt4,326 SqFtAbove Grade Finished SqFt4,326 SqFtLot Size7,499 SqFtStyleQuadraplexYear Built1916ZoningLAR3CountyLOS ANGELESAPN5404-018-009
Schools near 1121 Echo Park Avenue
This home is within Los Angeles Unified School District.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | K to 8 | |||
Public - | 9 to 12 | |||
Public - | 9 to 12 | |||
Public - | 9 to 12 |
Rating | School | Distance |
---|---|---|
Logan Academy of Global Ecology PublicK to 8 | ||
Edward R. Roybal Learning Center Public9 to 12 | ||
Miguel Contreras Learning Complex School Public9 to 12 | ||
Contreras Learning Center-School Of Social Justice Public9 to 12 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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