Wednesday, October 26, 2016

Eastside Property: $879,000 for an Echo Park house? Not quite, but close

The Eastsider in early July reported that the owners of a three-bedroom house in the Elysian Heights section of Echo Park were trying to achieve what many other home sellers had failed to do: sell their house for more than what they paid during the most recent real estate boom. The $879,000 asking price for the Echo Park Avenue home at Altivo Way was $79,000 above the 2005 sales price and well above some other recent home sales. Things didn’t look so promising during the first Sunday open house when the street in front of the home was jammed with fire trucks responding to a nearby house fire. However, a buyer quickly emerged for the Echo Park Avenue home, and the sale closed on Aug. 15 or a month and one day after the property was listed, according to Redfin. The owners didn’t get asking but the 2,190-square-foot house still commanded $846,500.

That’s the highest sales price for a home in the immediate area since Feb. 2006 when a three-bedroom property in the 1400 block of Avon Terrace sold for $849,000.

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  1. Exactly what I predicted on the first post…

    Still, there will be the non-believers.

  2. By zillow’s record, more recently and also nearby: 2344 Vista Gordo Dr sold on 3/22/11 for $850,000


  3. Moral of the story: if you’re a millionaire who doesn’t mind living around gangs, Echo Park is the place to buy a house.

    • Elysian Heights has the lowest crime rates in EP … check crimemaps

    • REAL Moral of the story: Echo Park is sandwiched between the billions of dollars pouring into downtown Los Angeles via the public and private sectors and Silver lake which has already been gentrified. The smart investor sees this and is willing to take a front row seat in waving the gangs goodbye…

      • EXACTLY! You can already see the further gentrification of EP happening! A lot of new higher-end restaurant options! It’s close proximity to DTLA and ALL of the major freeways = big pluses!

      • Harvey the Rabbit

        @Clueless, you must be one major player in the changing landscape of the New EP. You should go down to those streets where those unwanted types hang out and wave goodbye to them personally . Bring your credit score and your last 4 pay stubs and tell them that you are the new Face of EP and you want them gone. Tell us how that goes.

        For the record, I am all in favor of change, safe neighborhoods, new restaurants, new galleries and new cool bohemian living etc.. as long as clueless yokels are not trying to lead the way, and yes I am a Los Angeles native and damn proud of it.

        • Someone pee in your rabbit hole?

          I don’t have to wave goodbye personally, the cops will do it for me. I’ll be too busy doing my part to make the neighborhood what I want it to be. And if you don’t like what I’ve created, I invite you to take your self-righteous attitude somewhere else…

          • Harvey the Rabbit

            @Cluey….Dear Mr. Potter, the toilet in apartment 9 is backed up, so get your plunger and head up there to do “your part for the community”.

          • Happily plunge your toilet… Just don’t forget that the rent is due on the 1st.

            Thanks for paying my mortgage!

          • Harvey the Rabbit

            Speaking of the 1st, your rent is due (I think you call it a mortgage) so start writing a big fat gentrified check to Bank of America Cluey.

  4. It’s really hard to argue with a moron.

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