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1416 Echo Park Ave, Los Angeles, CA 90026
$7,200,000
1416 Echo Park Ave, Los Angeles, CA 90026View this property at 1416 Echo Park Ave, Los Angeles, CA 90026
1416 Echo Park AveLos AngelesCA90026
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Property Description
A rare opportunity to purchase a trophy 32 unit multifamily investment property located in the heart of one of the hippest neighborhoods of the country, Echo Park. First time on the market for over 27 years. The building was built in 1908 to 1930 and has a unit mix of (1) 3+1, (1) 2+1, (23) 1+1 and (7) 0+1 situated on a 16,418 sqft corner lot. The property has tremendous upside potential in rents, excellent curb appeal and long frontage on Echo Park Ave, gated community, city views from some of the units and on-site laundry facility. The property features copper plumbing, hardwood floors, remodeled kitchen and baths in good number of units, updated electrical panels, video monitoring cameras and 13 garages. It is located in ultra hip Echo Park submarket of Los Angeles, ideally situated north of the 101-Freeway and north of Sunset Blvd. This is truly one of the most desirable pockets of Los Angeles, as it is located few blocks from restaurants and shops on Sunset.
Full Property Details
Full Property Details for 1416 Echo Park Ave
General
- Sold For: $7,200,000
- Status: Closed
- Type: Multi-Family
- MLS ID: 315004223
- Added to Site: 3, 256 day(s) ago
Location
- County: Los Angeles
Structural Information
- # Buildings: 12
- Stories/Levels: Multi-Level
- Stories Description: Single Level
- Square Feet: 17,740
- Year Built: 1930
Unit Information
Unit 1
- Total Bathrooms: 1
- Bedrooms: 3
Unit 2
- Total Bathrooms: 1
- Bedrooms: 2
Unit 3
- Total Bathrooms: 1
- Bedrooms: 1
Unit 4
- Total Bathrooms: 1
Lot Features
- Lot Size (Acres): 0.38
- Zoning: R3
Financial Considerations
- Terms: Cash to New Loan
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Schools
Schools serving 1416 Echo Park Ave
School District:Los Angeles Unified School District
Rating | Name | Grades | Distance |
---|---|---|---|
1711 Montana St, Los Angeles, CA 90026 | K-8 | 0.1 mi | |
1575 W 2nd St, Los Angeles, CA 90026 | 9-12 | 1.2 mi |
Disclaimer: School ratings provided by
GreatSchools. Ratings are on a scale of 1-10.
Learn more about GreatSchools ratings.
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 1416 Echo Park Ave
Date
Details
Price
Change
Source
8/07/2015
Sold
$7,200,000
-3.94%
MLS
4/29/2015
Listed
$7,495,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
1416 Echo Park Ave, Los Angeles, CA 90026 (MLS# 315004223) is a Multi-Family property that was sold at $7,200,000 on August 07, 2015. Want to learn more about 1416 Echo Park Ave? Do you have questions about finding other Multi-Family real estate for sale in Silver Lake? You can browse all Silver Lake real estate or contact a Coldwell Banker agent to request more information.