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    2429 Echo Park Ave

    Los Angeles, CA 90026
    • $1,288,000
    • STATUS: Closed
    • ON SITE: 67 days
    • ID#: 20-661354
    Sold - 01/20/2021
    $1,288,000
    SOLD - 01/20/2021
    • 5
      BEDS
    • 0.15
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 3,496
      SQFT
    • $368
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1915
    County:

    School Ratings & Info

    Description

    The seller just authorized me to dramatically reduce the price of this property so it can get sold right away. This price reduction now makes it so that, once one gets the large unit occupied (that will be between $5500 and $6000/mo) you will have $1600/mo cash flow immediately, and even more whenever the tenant in the one bedroom unit vacates. To have this kind of cash flow in a property that a) was thoroughly renovated inside and out only 10 years ago, and b) is in prime Echo Park, with spectacular views, is pretty much unobtainable in any upscale neighborhood in L.A. The large 2500 sq ft unit also has a full headroom 600 sq ft attic that has in the past served as a 5th bedroom. It also has its own balcony. Be the person who jumps on this opportunity before everyone else finds out about it!

    Sold by Henry Plascencia BRE#01881308 of Compass.

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    Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-01-26T08:42:19.83. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
    www.corrieluxuryhomes.com/homes/112033423
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    2429 Echo Park Ave Los Angeles, CA 90026

    • Price: $1,195,000
    • Status: Closed
    • Updated: 83 min ago
    • ID#: 20-661354
    5
    Beds
    0
    Baths
    0
    ½ Baths
    0.15
    Acres
    3,496
    SQFT
    $368
    $/SQFT
    1915
    Built
    Neighborhood:
    Silver Lake - Echo Park
    County:
    Los Angeles
    Area:
    Silver Lake - Echo Park
    Property Description
    The seller just authorized me to dramatically reduce the price of this property so it can get sold right away. This price reduction now makes it so that, once one gets the large unit occupied (that will be between $5500 and $6000/mo) you will have $1600/mo cash flow immediately, and even more whenever the tenant in the one bedroom unit vacates. To have this kind of cash flow in a property that a) was thoroughly renovated inside and out only 10 years ago, and b) is in prime Echo Park, with spectacular views, is pretty much unobtainable in any upscale neighborhood in L.A. The large 2500 sq ft unit also has a full headroom 600 sq ft attic that has in the past served as a 5th bedroom. It also has its own balcony. Be the person who jumps on this opportunity before everyone else finds out about it!
    Exterior Features

    Covered Parking 1 Direction Faces South Levels One Lot Size Area 6749 Other Structures None Parking Garage Garage - 1 Car Pool Description None Pool YN No Spa None Spa YN No Style Other Total Parking 1 View Description MountainsValleyPanoramic View YN Yes Water Frontage None

    Interior Features

    Baths Total 4.00 Common Walls Attached Cooling Central Den No Dining Room No Equipment Ceiling FanDishwasherMicrowaveHood FanRange/OvenRefrigeratorWasherDryer Family Room No Fireplace Rooms None Flooring TileHardwood Heating Central Laundry In Unit Rooms Attic Water Heater Features Water Heater Unit Windows Double Pane Windows

    Property Features

    Gross Income 85200 Gross Operating Income 85200 Land Lease Type Fee Like Units1 1 Like Units2 1 Net Operating Income 59640.00 Number Of Buildings 1 Number Of Units 2 Property Condition Updated/Remodeled Sale Type Standard Security Features None Sewer In Street Source Living Area Vendor Enhanced Source Lot Size Area Vendor Enhanced Total Annual Expense 25560 Type Of Units Attached Water District Water Heaters YN Yes Year Built Source Vendor Enhanced Zoning Lar1

    Listing provided courtesy of Ken Shapiro DRE#01881308 of Silverwood Properties.


    Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-01-26T08:42:19.83. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
     
    https://bt-photos.global.ssl.fastly.net/carets/orig_boomver_1_20-661354-2.jpg https://bt-photos.global.ssl.fastly.net/carets/orig_boomver_1_20-661354-2.jpg https://bt-photos.global.ssl.fastly.net/carets/orig_boomver_1_20-661354-2.jpg
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    Compass
    8560 W Sunset Blvd 3rd Floor
    Los Angeles CA, 90069