Friday, October 28, 2016

Condo owners may reap the benefits of a cleaned up Echo Park Lake

Lago Vista Condos stretch on the hillside west of Echo Park Lake.

One of the key selling points of the  Lago Vista Condominiums, a 1970s-era building that arcs across an Echo Park hillside, has been the vista of Echo Park Lake below.  But, for  two years, the condo dwellers watched as their lakeside view turned into a panorama of a construction zone as the lake was drained and cleaned up. Now, after the lake reopened in June to  rave reviews from visitors,  the view of the lake ringed by palm trees and hillsides may once again help sell condos in the building designed by Allyn E. Morris.

In fact, the sale of three units  have been completed in recent weeks, with final sales prices ranging from $370,000 to $415,000, according to Redfin.    Unit #210, described as a “water-front condo,” sold on July 22 below its asking price of $399,000 but still fetched $374,500 for what is a fairly small unit at 798 square-feet. The listing for Unit #210 plays up the views of the lake :

Spectacular WATER-FRONT Condo facing the beautiful, completely renovated Echo Park Lake! Located in the front building with its’ VISTAS unobstructed, also see L A City lights, surrounding mountains, enjoy the sounds of Geese, and Fireworks from Dodger Stadium.

Real estate agent Jovelle Schaffer, who represented the buyers, said the new condo owners attended the lake’s grand reopening ceremony.

“My clients loved it,” she said of the event. “It was perfect timing.”

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One comment

  1. still cheaper than renting an apartment in the area i suppose the monthly payment will be like 1700 and i guess theyd build equity assuming ep isnt in a bubble.


    this house sold for 755k … un-real… 6k over list. that makes it priced over 600 a sqft! i guess that condo with a lake view was a steal…

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