The cost of living on the Echo Park – Silver Lake border

Silver Lake bungalow. Photo from theMLS.com/Redfin

Echo Park bungalow. Photo by Charmaine David

Two recent real estate sales along the border of Echo Park and Silver Lake near Sunset Boulevard show that old bungalows are still in demand but some price cuts are in order.  On the south side of Sunset Boulevard in Silver Lake, a two-bedroom, 121-year-old bungalow at 805 Coronado Terrace fetched $695,000 late last month after its price was cut from the original $720,000 (The Eastsider uses Waterloo Street in this area as the approximate border between the two neighborhoods). That sales price – at $626 a-square-foot – for a home south of Sunset Boulevard drew some skeptical comments on Curbed L.A .  Meanwhile, north of Sunset at 2200 Reservoir Street in Echo Park an 89-year-old bungalow bungalow that had been “de-stuccoedsold this week for $739,000. The sales price – reduced $10,000 from the original listing price – also included a separate, 400-square-foot studio apartment in the back. So, who got the better deal?

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  1. What was the total square footage for the home in Reservoir Street? Is it also a two bedroom? And is the bonus studio permitted? (You did not mention the square footage on the Coronado Terrace home, but I think I can figure out the math.) Are their respective lots the same size? Hard to compare them without the other details.

  2. @ Cristi. The listing info shows the Reservoir Street main house has 1,700-square feet.

  3. The main house at Reservoir is approximately 1,300 square feet and the back apartment is 400sf. There is also a finished garage that connects to the studio apartment via stairs.

  4. I’m curious about the documentation on that 1881 building date…

  5. Oh, I just noticed that the links go to the listing details. Thanks!

  6. @ RC – The assessor actually shows 1890 with improvements in 1920. Obviously, there’s been some work since then, but…wow. That beats my 1923 by a long shot. If you’re interested, you can check all kinds of assessor info @ http://maps.assessor.lacounty.gov/mapping/viewer.asp

  7. Interesting that there are two separate Cristi(s) on this thread — spelled the same way too. My posts are at 10:47 and 11:28. Another Cristi is at 11:30. Kinda eerie.

  8. Overall, I’m really hoping this trend of actually selling houses on the eastside for above 500k continues…. Continues all the way to my Highland Park/ Garvanza restored 1910 bungalow!

  9. There’s a place on Reservoir still for sale for 379,00 — totally updated.

    I believe the RE market is gonna start downturning soon.

  10. The Assessor’s office isn’t gospel for houses this old.

    My own Angeleno Heights house was built in 1887 but the assessor shows it as 1900.

    I don’t make a point of correcting this when applying for insurance each year.

  11. I second the sentiment by @Kevin. My house was built in 1894 and moved in 1915. The assessors records showed built in 1910, effective date of construction 1923. It doesn’t make any sense and has since been corrected. They also got the square footage totally wrong.

  12. @Cristi, @Kevin, @RubyJackson —

    The Assessor’s Office records are indeed spotty, and I’m pretty sure the oldest date that the Assessor’s office has for anything is 1890, and much of the time it’s either 1890 or 1900. “1890” just means “Old House from 19th century.”

    This is why I’m curious as to the documentation of the 1881 date and whether the realtor can back that up, or if that date just sounded good…

  13. Actually, while isolated cases can always be found, the average sale price of a single family house in the 90026 area code is $450,000 these days. These two examples are clearly out of whack, not what can be expected, not an example of what houses are going for in this area. But beware, real estate agents will find the highest price paid out there and tell you that is what everything is going for.

  14. Seeing that I’ve only got a youngin’ from 1923, thanks for correcting me pre-1900 homeowners. I do believe the Assessor isn’t gospel, but it does pretty well for post-1900 info 😉 As far as what dates the house to 1881, maybe a building permit (laughs), aerial photo, or fire insurance map? I emailed the RE agent @ Deasy Penner – maybe he can satisfy our curiosity.

    @ Cristi – Hopefully the Eastside is big enough for two Cristi’s. I’m surprised it took you this long to notice my posts on the boards =)

  15. “121-year-old bungalow”

    2011 – 121 = 1890.

  16. @B.E. — The math is good, but the 1881 date comes from the Realtor who’s marketing the place who claims that its an old farm house.

    @Cristi — DBS has permits from 1903 on, though you can find some mention of buildings being built in Southwest Contractor or the paper. The earliest Aerial Photos of Los Angeles that I’m aware of don’t show up until the 1910’s and 20’s, and the Sanborn Fire Insurance Maps don’t cover this area until 1906.

    So I’m definitely interested in hearing what the Realtor replies to you. Thanks for reaching out to her about that —

  17. I think that trying to determine which is the better deal here is like trying to compare apples and oranges. Coronado, while having a guest “space” is a single family home with fabulous views. Reservoir is a true duplex, per the tax assessor, with no views but is within walking distance to all the action on Sunset. Trying to determine who got the best deal is very subjective at best.

  18. Fyi.
    as per the echo park neighborhood council website and the the Silverlake neighborhood council website the location is Silverlake. The border runs between Waterloo and Coronado Terrace so that the houses on both sides of Coronado Terrace are in Silverlake and the houses on both sides of Waterloo are Echo park.

  19. when i was looking for a home to buy i like SilverLake, the vibe, ya know. All the listings showed Echo Park as Silver Lake. I became a home owner in Echo Park, but my records show my home has Silverlake. how is this possible, P.S I bought on 1900blk of Preston.

  20. If you have an LA Library card, another way to date the house is to check out the Sanborn Fire Insurance Maps at http://www.lapl.org/resources/guides/sanborn1.html.
    Editions run from the late 1800s on, and if you’re lucky enough to find your block on a map, you can see the outlines of the actual houses already built at the time.

  21. Wow! It’s crazy how much gentrification has transformed the north east side. Silverlake is the east side Brentwood. Hopefully this alarming trend doesn’t move much deeper to the NEast side.

    refer to the changes that result when wealthier people (“gentry”) acquire property in low income and working class communities.[1] Consequent to gentrification, the average income increases and average family size decreases in the community, which sometimes results in the eviction of lower-income residents because of increased rents, house prices, and property taxes. Taxes paid to the city go up, and the cost of police, fire and welfare services go down. Often old industrial buildings are converted to residences and shops. In addition, new businesses, catering to a more affluent base of consumers, move in, further increasing the appeal to more affluent migrants and decreasing the accessibility to the poor.

    Re:Overall, I’m really hoping this trend of actually selling houses on the eastside for above 500k continues…. Continues all the way to my Highland Park/ Garvanza restored 1910 bungalow!

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