ECHO PARK –– Less than six months after it was put up for sale, a large collection of apartments, vacant lots, homes and commercial buildings owned by the International Church of the Foursquare Gospel have found a buyer.
Some residents noticed that large, red FOR SALE signs had recently been removed from 14 properties near Echo Park Lake. “The sale is pending,” said Lee Black, Executive Managing Director at DTZ, the brokerage firm handling the sale for the church.
Black had no comment when asked if the church had agreed to sell the properties to a single or several buyers. A sale to a single buyer could rank as one of the Echo Park’s biggest real estate deals since it includes more than 60 apartments and several vacant lots facing Echo Park Lake.
The sale, however, does not include several significant church landmarks and properties, including the domed Angelus Temple across from Echo Park Lake and the Sunset Boulevard office tower that houses the church headquarters, a Citibank branch and several commercial tenants.
The Echo Park properties were amassed over the decades after McPherson, known as Sister Aimee, opened Angelus Temple in the early 1920s. The properties include more than 60 apartment units and several empty lots on Glendale Boulevard and Park Avenue immediately across from Echo Park Lake.