Sold

5944 Echo Street

Los Angeles CA, 90042

$1,150,000


$287.50 per sqft

Sold

12 Beds

6 Baths

4,000 sqft

Unknown

Built in 1985

Listed by Eric Dilanian with Remax Commercial and Investment Realty 213-817-1000

We are pleased to present for sale a 5 Unit tremendous value-add multifamily investment opportunity a block from famous Figueroa Street in one of LA's Hottest Rental Locations Highland Park! For the first time on the market in 40+ Years, 5944 Echo Street, offers investors an opportunity to add substantial value with 214% upside potential. The original family/ownership built 3 Units in 1985 atop (2) Units that were constructed in 1923. (3) of the (5) units are 2 Bedroom & 1 Bath Units and (2) Units are 3 Bedroom and 1 Bath Units. The property boasts a total square footage of 4,000 SF, situated on an expansive lot size of 7,243, and zoned RD2-1-HPOZ, with plenty of parking available for tenants. The property provides the opportunity to construct an ADU at the rear of the lot Buyer to Verify. Strategically located 1 block south of famous Figueroa St, the property is nestled in the best retail pocket of NELA, with direct walking access to Figueroa retail corridor which provides countless eateries, trendy bars, retail, and coffee shops, and not to mention steps away from The Gold Line. Considered "Walker's Paradise" with a (96) walk-score, where daily errands do not require a car. This rare opportunity is poised for an astute investor looking to capture strong market returns on a supply constrained product in a booming area where prices and rents continue to appreciate Year-over-Year. Disclosure: Buyer to conduct any/all due diligence including but not limited to the building square footage, lot size, unit mix, year built, zoning/HPOZ, market rents, and the ability to construct an ADU. DO NOT DISTURB TENANTS OR WALK ON PROPERTY - DRIVE BY ONLY.

22214879

MLS ID

November 3, 2022

Listed

February 10, 2024

Updated

Map

5944 Echo Street
Los Angeles CA, 90042

Interior Features

Total Stories

2


Bedrooms

12 Beds


Bathrooms

6 Baths


Fireplace

No


Cooling

No


Heating

Yes


Heating Description

Wall Furnace

Exterior/Building Features

Lot Size

0.17 Acres

Other Property Details

Area Name

632 - Highland Park


Days on Market

19


Garage

No


Parking

Detached Carport


Parking Total

10


View

No


County

Los Angeles


Pool

No


Zoning

LARD2


Buyer Agency Compensation

2%

Listing Contact: 213-817-1000 

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 2/10/2024. 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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

©2024 California Regional Multiple Listing Service (CRMLS) all rights reserved.

Data last updated on 2/10/2024 at 7:16 AM UTC

 

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