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Friday, December 19, 2014

Eastside Property: Price cuts-not a taco truck-help sell Echo Park bungalow

Photo from Redfin

This small but rather nicely redone Echo Park bungalow went up for sale for $379,000 at the end of June, with the sellers noting it proximity to the Taco Zone food truck in addition to other nearby neighborhood amenities But apparently being within walking distance of  Taco Zone or the new Mohawk Bend brew pup did not translate into a fast sale. So, after some price cutting, the 588 square-foot home on for the Montana Street property off Alvarado finally sold last week for $325,000 or about 15% below the original asking price, according to Redfin. Still, the flippers sold the home for more than double the $150,000 they paid in March. Will the new owners be celebrating with tacos and beer?



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9 comments

  1. That is $553 per square foot! Yikes.

  2. I almost bought that property for $140k…good job to the sellers.

  3. Looks really nice but waaay too much for the size. Good to see property values going up in Echo Park.

  4. Wow.There’s a home in Silver lake on Dillon st selling for 750k n was bought for 200k .They remodeled the home but still that’s too much then again they place the price that high to sell for atleast 500k ,making the buyers think they got a bargain.lol..hustlers..that means no profit for the new owner n hope the home keeps its value which is very doubtful..

  5. nicely remodeled for sure … but that price really is an anomaly (per sqft)!

  6. Small houses typically have a high price per square foot. They did a very nice job on this house. Too bad there’s no place to park a car.

  7. The new owners probably think they’ll make a profit. There’s a limit to this. Stop your flipping and leave homes to homeowners. The house across the street from me was flipped four times and the last owners, who hate living there, are stuck as they’ll never recoup their money. Insanity. If you want to live in Echo Park, then by all means please buy a house.

  8. I live right next door. Great interior work but totally not worth the price. Its literally once bedroom a “kitchenette” and a “office-ette”.

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