Thursday, October 27, 2016

Echo Park church holds huge real estate sale


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ECHO PARK — The church founded by legendary evangelist Aimee Semple McPherson is getting out of the Echo Park real estate business, putting up for sale a large collection of apartments, vacant lots, commercial buildings and homes near Echo Park Lake.

The asking price for the 14 properties owned by the International Church of the Foursquare Gospel was not disclosed, according to information posted on LoopNet.  It’s not clear whether the Echo Park Lake Real Estate portfolio will be sold off in pieces or will go to one buyer.

The sale does not include several significant church landmarks and properties, including the domed Angelus Temple across from Echo Park Lake and the Sunset Boulevard office tower that houses the church headquarters, a Citibank branch and several commercial tenants.

The Echo Park properties were amassed over the decades after McPherson, known as Sister Aimee, opened Angelus Temple in the early 1920s.  The properties include more than 60 apartment units and several empty lots on Glendale Boulevard and Park Avenue immediately across from Echo Park Lake.

The church recently agreed to sell a large hillside parcel on the border of Montecito Heights and Lincoln Heights for open space.

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  1. Wow, this will be interesting!

  2. My opinion, such as it is, would be to sell individual parcels and assure that these parcels would not be razed for Echo Park. Let us provide homes for folks needing them. Not some flashy condo or townhome for hipsters thinking “it is cool” to live in Echo Park.

    • I’d tell you what he wouldn’t do.
      Buy up protected historic houses surrounding the lake, then circumvent the law by relocating them to lots outside of town, whereby they could be destroyed outside of prying eyes of those meddling preservationists. Then build banal looking condos, coated in a healthy dose of stucco, on the lot. Wait a few years, et voila, PROFIT!
      Icing on the cake: using some of that sweet moolah to buy an obnoxious electronic billboard to bathe all of Glendale Blvd in the (b)light of Jeebus!

  3. In a perfect world that ugly vacant parcel on the corner of EP ave and park would become a cool dog park. But the church is probably selling to generate money to further it’s outreach programs. So I’d expect most if not all of these parcels go to the top bidder (as is their right, of course).

    and CSID, define ‘hipster’ please.

  4. Who lives in these buildings? Are they managed as regular apartment buildings or are the tenants involved with the church somehow?

  5. All the properties seem to be very well maintained. I’m guessing this could potentially not turn out well for some of the occupants in the larger, newer buildings that don’t fall under rent control.

  6. Quick someone buy this before some other “religious” group like the Scientologists discover Echo Park like they have Hollywood and Los Feliz. 🙂

  7. I actually thought they owned more than what is shown here. Don’t they own the apartments next door to the empty lot at Echo Park Ave? What is the reason for selling off their historic headquarters? This reader would love to read more facts on this big story, Eastsider LA!

    • Yes they do own that building. It was for sale for a long time but overpriced so it just sat there. It went off the market around November. Don’t know why its not part of this sale.

  8. Someone has to mention, guess it will be me. ..they will NOT pay any capital gains taxes.

    • Oh Yeezus, cuz they’re a religious organization? Great. We
      don’t really need any of those tax dollars for infrastructure, overwhelming poverty, homelessness, trash cleanup, graffiti removal, drought tolerant public spaces….Yah, give it to The Word of Christ

    • I’m going to start a church

    • I think that tax exemptions on churches are ridiculous, but once these properties sell, the new owners will be paying property taxes based on the current market rate (if they’re sold at market rate), so more money will flow into the county’s coffers.

  9. A lot of these properties were willed or left to the church over many years.
    They are not selling any of their actual “Church” or “Headquarters” properties as someone above mentioned.
    Aimee’s son, Rolf K. McPherson, was very frugal and in the 44 years he was president, he also acquired properties when available. Since his death a few years ago, I guess the International Church sees fit to sell off these properties.
    Most of the properties were owned by Angelus Temple, Not, The International Church of the Foursquare Gospel.
    The Dream Center, who uses Angelus Temple for their services has nothing to do with this.

  10. And they pay no TAXES!!!!

  11. I wish they sold the office building. It’s the ugliest thing in Echo Park.
    And the Angelus Temple should be used for roller derby.
    Actually if that happens I’ll believe in Jesus or at least in Aimee McPherson.

    • Let me 2nd that roller derby request, make Angelus Temple a Derby Dolls HQ!
      That would get my ass in the pews every Sunday.

      And BTW Jesus’ yarn is far more believable than Aimee ‘Drug addicted anti-evolutionist adulterer who kidnapped herself for $ and attention’ McPherson’s.

  12. Where are these properties? I clicked on the map but I dont see any pins on the map. Am I missing something?


  14. The red signs are gone. Does anyone know if all the parcels were sold and if so, to whom?

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