How much are you willing to pay for an Echo Park landmark? Not that much it turns out

Photo from CRMLS

Back in May The Eastsider reported that an imposing Spanish-Colonial home – a city historic landmark – located across the street from Echo Park Lake  had gone up for sale at $1.1 million.  But apparently there has not been much interest in the approximately 2,800-square-foot residence, built in 1937, because its price has been cut four times since it came on the market as a trust sale.  The most recent cut made this week has brought the price of the Glendale Boulevard home down to $799,500, according to Redfin. Will this lower price – more than 25% below the original – finally attract a buyer for Historic Cultural Monument No. 257?

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  1. That’s a good price for a home that size. But, that is a very, very busy street. And, it will be right down the street from that imposing, humongously out-of-place new Evangelical housing development on the corner of Glendale and Park (associated with the Dream Center). But for the price, maybe the new buyer can deal with that.

  2. why on earth wouldn’t the church just snatch this place up too? they must have some use for it.

  3. Even now, its a LOT of money to have Glendale Boulevard as your front yard! I’ve always loved that house; I’ve always hated that location.

  4. I cant be the EP resident who finds the Dreamcenter completely off putting, right?
    I had constant drug activity near my house on Kent St and watching them parade past every Sunday morning, segregated by gender, is so fucking sketchy to me.

  5. The listing info. on Redfin implies that they’re looking for an all-cash offer, though I don’t see why it wouldn’t qualify for conventional financing. Beautiful house, and I think it would be great to gaze out the window at the lake before the sun comes up – and before rush-hour traffic slams Glendale Boulevard. Regarding the Dream Center, look at it this way; they’re Echo Park’s Scientologists. Hollywood has the huge blue building and the Celebrity Center, and Echo Park has the Angelus Temple, the huge parking structure, and now the huge housing development across the street. I have to say, though, the uniformed Hubbard-followers are more sharply-dressed than the t-shirt-wearing Dreamers.

  6. Sadly location is key. I love the house though. Plop it down on a vacant lot in a better part of town and it would surely sell for that. Perhaps in its current location, reuse as a small private school? 2,000+ sqft is a lot of space…

  7. I’m glad people are not rushing to their RE agent to buy a house for almost $1 million in the ghetto, sandwiched between two apartment buildings.

    Maybe they should just tear this beast down and build low income housing…or maybe, the neighbors should actually give a shi# and clean up their properties.

  8. It’s an interesting house, but the “sold as-is” part of the listing would have me worried about how much work it needs. Add to that the traffic and the fact that the lake across the street will be a giant pit for the next two years (and possibly more) and you can see why they’re going to have trouble moving this place.

  9. StickyFingers, I don’t really think Echo Park would be considered the “ghetto.”

  10. If you would take 99.8% of America through the neighborhood where this house is located, they would most definitely classify it as ghetto. Of course, if you compare Echo Park to the worst parts or South Central LA, an argument could be made that it is better…but in my opinion, the better of two shi$ neighborhoods is still shi$.

  11. StickyFingers, do you even live in Echo Park?

  12. Nope…way too ghetto for me.

  13. It would be nice to have both the lake and the city skyline as the view outside of my front window. I’ve always loved that house, but even at the “reduced price” it’s four times what we just paid for our house on the southern-most edge of 90026. Maybe I should go out and buy a lottery ticket.

  14. I wish someone could make it into a small Echo Park History Museum/local art gallery.

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