NOT LISTED FOR SALE
5 Beds
5 Baths
2,741 Sq Ft
7,495 Sq Ft Lot

Last Sold August 07, 2024

Last sale price $1,450,000 $529 Per Sq Ft

27 Days on Market

Highlights

  • City Lights View
  • Craftsman Architecture
  • Wood Flooring
  • John Marshall Senior High Rated A
  • Property is near park
  • Lawn

About This Home

As of August 2024

We are pleased to present a five (5) unit apartment building located at 1859 Echo Park Avenue in Los Angeles, California. The subject property is located in a prime Echo Park location, west of Park Drive and south of Baxter Street. Built in 1920, this property consists of a great unit mix of four(4) one-bedroom / one-bathroom units and one (1) one-bedroom/ one-bathroom and den unit. This asset has wonderful landscaping with spacious patios and lush curb appeal. The property offers ample privacy on a quiet street while also offering five (5) on-site parking spaces that have the potential to convert into multiple ADU Unit(s). The units are spread across three (3) detached buildings with two (2) single-family dwellings and one (1) triplex. This character, craftsman style property boasts an on-site laundry room for tenant convenience. Residents will love being within a few miles of many trendy restaurants, nightlife, and entertainment options such as Canyon Coffee, Modo Yoga LA, Elysian Park, Dodger Stadium, and Echo Park Lake. Minutes away from the -101 and -5 freeways, this location provides its tenants quick and easy access to major employment hubs of Los Angeles. Positioned in a prime Echo Park location, this offering presents an exceptional opportunity for an investor to capitalize on a character, craftsman-style asset with tremendous upside.

Last Agent to Sell the Property

Jason Tuvia

Marcus & Millichap License #01772495 Listed on: 06/11/2024

Last Buyer's Agent

Jason Tuvia

Marcus & Millichap License #01772495 Listed on: 06/11/2024

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1920

Lot Details

  • 7,495 Sq Ft Lot
  • Fenced Yard
  • Landscaped
  • Lawn

Home Design

  • Craftsman Architecture

Interior Spaces

  • 2,741 Sq Ft Home
  • 2-Story Property
  • Ceiling Fan
  • Den
  • Wood Flooring
  • City Lights Views
  • Oven or Range
  • Laundry Located Outside

Bedrooms and Bathrooms

  • 5 Bedrooms
  • 5 Bathrooms

Parking

  • 5 Car Detached Garage
  • 5 Open Parking Spaces
  • Driveway
  • Unassigned Parking

Outdoor Features

  • Enclosed Patio or Porch
  • Shed

Location

  • Property is near park
  • City Lot

Utilities

  • Heating System Mounted To A Wall or Window

Listing and Financial Details

  • Assessor Parcel Number 5420-023-005

Community Details

Overview

  • 3 Buildings
  • 5 Units

Amenities

  • Laundry Facilities

Property Details

Home Type

Multi-Family

Year Built

Built in 1920

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Style: Craftsman
  • Levels: Two
  • Street Number Display: Yes
  • Entry Location: Main Level
  • Living Area: 2741
  • Lot Acreage: 0.1721
  • Price Per Unit: 305000.00
  • Probate: No
  • Year Built: 1920
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 0

Interior Features

  • Flooring: Hardwood
  • Bedrooms: 5
  • Kitchen Features: Counter Top
  • Laundry: Community, Outside
  • Laundry Equipment: Own
  • Total Bathrooms: 5.00
  • Equipment: Ceiling Fan, Range/Oven
  • Price Per S Q F T: 556.37

Exterior Features

  • Other Structures: Shed(s)
  • Tennis Court Y/N: No
  • Patio: Porch - Front, Patio Open
  • Pool: No
  • Spa Yn: No
  • View: City, City Lights, Walk Street
  • View: Yes

Garage/Parking

  • Other Spaces: 5
  • Parking Garage: Driveway, Detached, Parking Space, Unassigned, Uncovered
  • Total Parking: 5

Utilities

  • Cooling: Ceiling Fan
  • Heating: Wall
  • Security: Gated
  • Water Heaters: Yes

Lot Info

  • Assessed Improvement Percent: 36.10
  • Assessed Improvement Value: 343525
  • Assessed Land Percent: 63.9
  • Assessed Land Value: 607989
  • Total Assessed Value: 951514
  • Assessor Parcel Number: 5420-023-005
  • Lot Description: Fenced Yard, Fenced, Front Yard, Lawn, Landscaped, Back Yard, Walk Street, Street Lighting, Sidewalks, Yard, Single Lot, Street Asphalt
  • Lot Location: City, Park Nearby
  • Lot Size Area: 7495

Multi Family

  • Unit Type: 2106, 2107, 2108, 2109, 2110
  • Gross Rent Multiplier: 12.78
  • Number Of Units: 5
  • Type Of Units: Market
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
08/07/2024 08/07/24 Sold $1,450,000 -4.9% $529 / Sq Ft
07/08/2024 07/08/24 Pending -- -- --
06/11/2024 06/11/24 For Sale $1,525,000 0.0% $556 / Sq Ft
02/05/2020 02/05/20 Rented $2,400 0.0% --
02/03/2020 02/03/20 For Rent $2,400 -- --
Source: The MLS

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $12,491 $1,450,000 $700,000 $750,000
2024 $12,491 $970,543 $620,148 $350,395
2023 $12,260 $951,514 $607,989 $343,525
2022 $11,713 $932,858 $596,068 $336,790
2021 $13,234 $1,056,331 $721,397 $334,934
2020 $11,690 $905,191 $578,389 $326,802
2019 $11,248 $887,444 $567,049 $320,395
2018 $10,541 $816,885 $529,872 $287,013
2016 $10,039 $785,167 $509,298 $275,869
2015 $9,899 $773,374 $501,648 $271,726
2014 $9,959 $758,226 $491,822 $266,404
Source: Public Records

Agents Affiliated with this Home

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Map

Source: The MLS

MLS Number: 24-402992

The MLS