Saturday, October 22, 2016

A Tale Of Two House Flips: Atwater Spanish-Colonial vs Echo Park bungalow

The Eastsider has been tracking the sales of  two old homes – an Atwater Village Spanish-Colonial with “urine soaked floors”  and a “fixer gem’ of an Echo Park bungalow – since both landed on the market last summer. Both sold quickly, with the 864-square-foot Atwater house on Silver Lake Boulevard selling for $260,000 and the nearly-century old Echo Park bungalow on Avalon  Street fetching$425,000, according to Redfin.  Not surprisingly, the buyers turned out to be flippers, who last month put both properties back on the market after extensive renovations. The Echo Park bungalow was put for sale on Jan. 14 for $645,000, according to Redfin. One day later, the Atwater Village home,  which had been listed for sale last November but apparently no deal was completed, returned to the market at an asking price of $429,900, according to Redfin.

Which house would sell first? The contest was not even close.

The 1,154-square-foot Echo Park house sold in 16 days for $646,000 or $221,000 over what the flippers paid about five months earlier, according to Redfin.

Meanwhile, in Atwater, the Spanish Colonial on Silver Lake Boulevard remains unsold. In fact, the owners knocked $20,000 off the asking price.

Eastsider Advertising


  1. The Echo Park one had been on the market before at a $880k+ for a long time. I forget how much exactly, but I laughed heartily. That’s for damn sure.

  2. applesmeetoranges

    please people, why are the two even being compared? the spanish is, according to redfin, a “2 BED 1 BATH HOME APPROX 864 SQUARE FEET ON A 1619 SQUARE FOOT LOT” and totally urban edge to edge right on the main street. while the echo park place is 1,154 Sq. Ft on almost 7500 sq. foot lot at the top of a hill. these two places are nothing alike.

  3. Sadly, some of the character of the Echo Park house got sucked out with the remodel.

  4. How do you figure “some of the character got sucked out..”?

  5. I guess if any changes are made some people consider that the life has been sucked out of the house. Strange but that is how he feels. I on the other hand feel remodels are an important way of preserving the value of the property.

  6. Please define “character” in a home in Echo Park.

  7. I agree, these two properties are completely different and should not be compared.

  8. Wow! almost a quarter of a million in 5 months! I think I’m in the wrong business!

Post a Comment

Please keep your comments civil and on topic and refrain from personal attacks. The moderator reserves the right to edit or delete any comments. The Eastsider's Terms of Use and Privacy Policy apply to comments submitted by readers. Required fields are marked *