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Tuesday, July 22, 2014

Eastside Property: Bargain hunting for Echo Park homes leads to Mountain View Avenue

437 N. Mountain View (left) and 312 N. Mountain View are currently the only Echo Park  homes priced below $400,000.

If your budget for an Echo Park home is between $200,000 (yeah, right) and $400,000, the pickings are pretty slim. In fact, the current listings on Redfin show only two, single-family homes priced below $400,000, and  both are located a block apart and south of the 101 Freeway on a narrow avenue called Mountain View.

Located just south of Temple Street, the 114-year-old Victorian at 312 N. Mountain View  is certainly going to need some work. But underneath all the security bars on the windows and fortified porch are some nice period details, including columns, decorative wood trim and bay windows.  Inside, there are three bedrooms and one bath packed into 965-square feet of space that is priced at $389,900, according to Redfin.

One block away and north of Temple Street,  437 N. Mountain View is certainly cheaper at $250,000 but has only 465-square-feet of space that is packed into a narrow lot, according to the Redfin listing. There is no view of the mountains; instead the house has a partial vista of the Alvarado Street onramp to the southbound 101 Freeway.  The listing for this short-sale describes this house as ideal for first-time buyers but also notes that it  “needs plenty of TLC”  and that the seller “will not be completing any repairs.”

 

13 comments

  1. It’s so depressing to look at the Redfin sales history and see that the one going for about 400k sold in 2010 for 162k. I know the neighborhood’s cleaning up and all, but has that part of Temple really gotten so good that a home can more than double in value in four years? It certainly doesn’t appear to have had any renovations done to it.

    • I can’t speak to the interiors, but whoever bought it four years ago has cleaned that property up dramatically. Maybe not enough to merit a doubling in value, but it’s definitely had some improvements made.

  2. Them’s slim pickin’s. For a lot of money.

  3. I have a few words for anyone who is searching for a single-family home in this price range: Altadena, Northwest Pasadena, Sunland, Tujunga, and … snobs should cover their eyes … the northern San Fernando Valley.

  4. It’s all about the way you advertise it Laveta.

    These home sellers are really good at it. They say it is up and coming and how close it is too trendy shops. People somehow fall for it and end up buying. Look at how hard they advertise these neighborhoods. Check out how they took over this website. Even the stories are about buying homes. A smart person would not buy those homes for obvious reasons. That amount a money can buy you a home in a safer area like Glendale. If you’re looking to buy a home don’t get duped.

  5. This isn’t Echo Park, this is Historic Filipinotown. And I don’t know why anyone would call Mountain View a “narrow avenue.” It’s as wide as any other residential street, and wider than some in EP.

    • 437 N. Mountain View is Echo Park proper (not Historic Filipinotown), since it is north of Temple St.

      312 N. Mountain View is both Historic Filipinotown and Echo Park, since HFT is a sub-division of Echo Park. “Historic Filipinotown is a district of the city of Los Angeles, California, that makes up the southwest portion of Echo Park.”

      http://en.wikipedia.org/wiki/Historic_Filipinotown,_Los_Angeles

    • B.E. is correct, this portion of Historic Filipinotown is part of Echo Park. More specifically, it makes up district 5 of the Echo Park Elysian Neighborhood Council. But I do agree, Mountain View is not more or less narrow than others in EP:)

    • Dana, that’s a $439,000 condo that was probably originally built as an apartment complex, and according to the Redfin listing, the homeowners’ dues are $354 a month.

      • James – I’m aware the difference between a single family home and a condo just pointing out an alternative that is a little above 400k, around the same square footage and is safe, remodeled & has a view – thats all.

  6. It is insane how prices changed so radically in the past couple years. People are confined to that price range now have only a handful of old, decayed properties to choose from. But for some with the can-do attitude, this could be their chance to make a home a side-investment, by putting some work in the house and selling the worst house on the market as one of the best.

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