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    2429 Echo Park Avenue

    Los Angeles (City), CA 90026
    • $1,195,000
    • STATUS: Active Under Contract
    • ON SITE: 60 days
    • ID#: 20661354
    Under Contract
    UPDATED: 45 min ago
    $1,195,000
    • 0
      BEDS
    • 0.15
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 3,496
      SQFT
    • $342
      $/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!

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-01-19T18:31:26.697. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Compass. Licensed in the State of California, USA.

    www.sandiegohomesdirect.com/homes/112042126
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    2429 Echo Park Avenue Los Angeles (City), CA 90026

    • Price: $1,195,000
    • Status: Active Under Contract
    • Updated: 45 min ago
    • ID#: 20661354
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.15
    Acres
    3,496
    SQFT
    $342
    $/SQFT
    1915
    Built
    Neighborhood:
    671 - Silver Lake
    County:
    Los Angeles
    Area:
    671 - Silver Lake
    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

    Architectural Style See Remarks Direction Faces South Garage Spaces 1.00 Lot Size Units Square Feet Parking Features Garage - Single Door Parking Total 1.00 Parking YN Yes Pool Features None Pool Private YN No Spa Features None Spa YN No View Mountain(S)ValleyPanoramic View YN Yes

    Interior Features

    Appliances DishwasherMicrowaveRefrigerator Appliances YN Yes Cooling Central Air Cooling YN Yes Fireplace Features None Fireplace YN No Flooring TileWood Heating Central Heating YN Yes Levels One Room Type Attic Window Features Double Pane Windows

    Property Features

    Country Us Gross Income 85200.00 Gross Multiplier 14.08 Gross Operating Income 85200.00 Land Lease YN No Net Operating Income 59640.00 Property Condition Updated/Remodeled Senior Community YN No Special Listing Conditions Standard Total Expenses 25560.00 Zoning Lar1

    Listing provided courtesy of Ken Shapiro of Silverwood Properties


    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-01-19T18:31:26.697. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Compass. Licensed in the State of California, USA.

     
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