Listing provided courtesy of Andres Diaz of Keller Williams Downtown LA. Last updated 2024-04-28 08:11:36.000000. Listing information © 2023 CRMLS.
Asking Price: $7,000,000
1615 Park, Los Angeles CA 90026
Community: C21 - Silver Lake - Echo Park
Status: Active
This property was built in 2020 and is priced at $7,000,000. Please see the additional details below.
Kingside Investment Group of Keller Williams Downtown Los Angeles is proud is present 1111 Echo Park Avenue, a luxuriously built 2020 new construction apartment building in Echo Park. The property is comprised of nine (9) one-bedroom units that vary in size from 740 square feet to 1,050 square feet and two (2) two-bedroom/two-bathroom units that measure 1,300 square feet. The property offers a superb location across Echo Park Lake and one block away from Sunset Boulevard. Each unit boasts private balconies, in-unit washer/dryer, and stainless-steel appliances. The apartment complex is fully leased and offers a prospective investor very attractive assumable financing in the amount of $4,500,000 with a fixed rate of 4.30% till 2027. 1111 Echo Park Avenue presents an opportunity to acquire a non-rent-controlled asset in a submarket that has little to no inventory for new construction development due to its harsh new development regulations and scarcity of land. Certificate of Occupancy was issued in March 2022 and the property has controlled access with an elevator and gated garage.