1121 Echo Park Avenue

Los Angeles, CA 90026

$3,810,000
Last Sold Price
17
Beds
9
Baths
9,798 Sq. Ft.
$389 / Sq. Ft.
9,798
Sq. Ft.
$389
per Sq. Ft.

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.
  1. Listed by Roderick 'Rick' Raymundo • DRE #01357019 • Brokerage DRE #01240999 • Marcus & Millichap

Property Details for 1121 Echo Park Avenue

Zoning
LAR3
Parcel Number
5404018009
Total Units
9.0
Living Area
9798
Source Living Area
Estimated
Area
Silver Lake (671)
Vacancy Rate
0
Lot Size Area
14998

Location

Listing Courtesy of Marcus & Millichap, Roderick 'Rick' Raymundo, DRE #01357019

Sold By Ivy Realty Co., Jessica Kim, DRE #01038646

Add your commute
LISTING UPDATED: 05/05/2023 09:28 AM

Property Details for 1121 Echo Park Avenue

StatusSold
MLS #22-148567
Days on Market58
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1916
Lot Size0.34 AC / 14,998 SF
CountyLos Angeles County

Location

Listing Courtesy of Marcus & Millichap, Roderick 'Rick' Raymundo, DRE #01357019

Sold By Ivy Realty Co., Jessica Kim, DRE #01038646

Add your commute

Building Information for 1121 Echo Park Avenue

Stories2Residences-Year Built1916Building Size-Lot Size0.34 AC / 14,998 SF

Payment Calculator

$22,671 per month

30 year fixed, 7.25% Interest

Principal and Interest

$20,793

Property Taxes

$1,878

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1121 Echo Park Avenue

Community / Development
Community / Development
  • Number Of Units: 9
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 3
  • Type Of Units: Residential
Contract Info
Contract Info
  • Disclosures: As Is
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $250,500
  • Net Operating Income: $181,564.00
  • Gross Income: $258,161
  • Cap Rate: 4.69%
  • Gross Rent Multiplier: $14.99
  • Total Annual Expense: 68937
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.3443
  • Lot Size Square Feet: 14998
Parking Details
Parking Details
  • Parking Garage: Assigned
  • Total Parking: 13
  • Parking Features: Assigned
Interior Features
Interior Features
  • Cooling Type: Other
  • Heating Type: Other
  • Equipment: Other
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 04-20-2022
Unit Details
Unit 1 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,395.00
  • Unit Actual Rent: $2,395.00
  • Unit Projected Rent: $2,445.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,349.00
  • Unit Actual Rent: $16,448.00
  • Unit Projected Rent: $19,985.00
  • Like Units: 7
Unit 3 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $2,670.00
  • Unit Actual Rent: $2,670.00
  • Unit Projected Rent: $2,695.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $497,097.00
  • Assessed Improvement Percent: 34.97
  • Assessed Land Value: $924,479.00
  • Assessed Land Percent: 65.03
  • Assessed Total Value: $1,421,576.00

Property History for 1121 Echo Park Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

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.

Similar Homes

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Similar Sold Homes

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Marcus & Millichap, Roderick 'Rick' Raymundo, DRE #01357019

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.