Tuesday, October 25, 2016

Echo Park homes south of Sunset head into the $700,000 range

Meet your $735,000 neighbor

A two-bedroom, Spanish Colonial-style home near Echo Park Lake sold for $735,000 as prices in the relatively affordable area of Echo Park south of Sunset Boulevard continued to climb higher.  The  80-year-old home on the 1700 block of Kent Street went into escrow quickly after hitting the market on April 5 at an asking price of $729,000, according to Redfin. The sale closed May 16.

Homes sales above $700,000 in Echo Park are still relatively rare, even more so south of Sunset.  But the Kent Street house is only one of three Echo Park properties south of Sunset Boulevard to have sold for more than $700,000 in approximately the past year, according to Redfin. That includes the $779,000 new home that sold late last year on Rosemont Avenue and a Spanish Colonial-style home on Glendale Boulevard, a city Historic Cultural Monument, that fetched $740,000 last year.

In addition to Echo Park, and additional two South-of-Sunset  properties in Angeleno Heights have also gone for more than $700,000 within the last year, including a restored, five-bedroom home on the 1039 block of West Kensington Road that sold for $1 million in April.

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