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Wednesday, October 1, 2014

Eastside Property: Echo Park hillside bungalow court in search of a buyer

Photo from LoopNet.com

While much of Sunset Boulevard in Echo Park is lined with stores and other commercial buildings,  small cottages and bungalows climb the steep hills on both sides of the street on a two-block stretch east of Elysian Park Avenue. The  hillside bungalow courts, many of which date back to the 1920s, are clad in brick, stucco and wood and feature a main and often steep central stairway that runs up from Sunset Boulevard. Now, one of these courts, an 11-unit property built in 1921, is up for sale for $699,000.

Except for a pair of one-bedroom units,  the rest of the clapboard bungalows are  all studios, according to the LoopNet Listing.

The property, described in the listing as “Old Hollywood” in style, is a short walk away from another Sunset Boulevard hillside courtyard that was declared a city cultural historic monument in 2010. The small size of the free-standing bungalows and the green space in between serve as a counter point to the large, chunky apartment blocks that have been carved into the hillside.  In fact, one of these newer buildings was a nominee in Curbed L.A.’s Ugly Building Contest.

8 comments

  1. Look at those rents! Yeehaw!

  2. Rents are low relative to the size of the units and total cost.

    In this current state this property yields 9.5%. I’d say thats pretty darn good…

  3. Totally cute complex and surprisingly low price. But it sounds like the units need major work, possible permitting issues, god knows what else.

    Listing states: “This property is being sold in its as-is condition. The Trust will not provide any repairs, pest control clearance, City of Los Angeles required retrofitting or estoppel certificates. All offers must be verified all-cash , with no loan or appraisal contingencies.”

  4. Tenants currently unaware of the sale., sez the listing.
    Bet they are now.
    There’s a special corner of Hell for real estate speculators.
    BURN.

    • Your statement strikes me as wildly ignorant and envious. Oh let me guess, 99 percenter?…

    • why should the tenants care if the building changes hands?! They have protections under the LAHD’s RSO… these sales typically only end up BENEFITTING tenants… this site is perpetually cruel to property owners, it’s laughable.

  5. i’ve lived here for 14 years… yeah the rent is cheap but the quality of the unit is cheaper. and you’re right none of us knew of this sale until the other day when the big ugly sign was posted outside our front gate. good luck for whoever decides to take a dive into this dump. but don’t get me wrong… i’ve put up with it for this long and to be in the mist of all the excitement that echo park has to offer there’s no $ price on that

    • Perfect post to exemplify why RSO is bad for people…the landlord couldn’t raise rents even if they did keep it nice, so why would they? In the city’s quest for entitlement-housing laws, they have promoted slumlording. Here is a tenant who loves their low rent, but realizes its a sh*thole. This is how rent control slows down improving the look of neighborhoods.

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