Sunday, October 23, 2016

Eastside Property: Echo Park sellers cashing in on Morton property sales

1710 Morton Walk (left) & 1460 Morton Place | Redfin

There are many Mortons in Echo Park: Morton Avenue, Morton Place,  Morton Terrace and Morton Walk, all of them appearing to be connected to one of the neighborhood’s pioneering land owners, Palmer Morton Scott  and Elizabeth Morton Scott.   The couple would probably be astounded at some of the sales that have recently taken place on on the Mortons, including one property  that sold in only about six weeks for more than $100,000 over its asking price.

That three-bedroom property at 1710 Morton Place near Elysian Park went up for sale at $764,000 on January 13, according to Redfin.  As of Wednesday, Feb. 26, the Spanish Colonial-style home built in1926 had a new owner who paid $875,000. That’s $111,000 or nearly 15% above the asking price.

Meanwhile, around the corner on Morton Walk,  which is a sidewalk lined by small cottages without street access, a one-bedroom home that went up for sale at $475,000 in early January sold for $512,000 on Feb. 26,  according to Redfin.   A den and finished attic are squeezed into the 722-square-foot home.

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One comment

  1. $710/per square foot for a house with zero parking on a street with zero parking seems reasonable to me. Especially when you factor in the sweeping views of Central Park. The fall colors must be spectacular.

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