Monday, October 24, 2016

Echo Park Avenue apartment building goes on the market for $7.25 million

1650 Echo Park Avenue The Heights apartment building 6-17-2015 12-37-08 PM

Eastside PropertyECHO PARK – Rising four stories above Echo Park Avenue, the Art Deco-style apartment building known as The Heights was built in 1929 just as the roaring ’20s  gave way to the Great Depression. Now, this towering reminder of  previous boom times might become a symbol of the current red-hot real estate market as it is offered up for sale for $7.25 million, according to LoopNet.

The owners of the 29-unit building at 1650 Echo Park Avenue are seeking to join other Echo Park property owners who are cashing in on the strong demand for apartment buildings, including the larger, brick buildings constructed decades ago. Down the block, the 44-unit Del Mor Apartments and an adjacent parking lot were sold at the end of 2013 for $9.275 million. In December 2014, new owners paid $15 million for Jensen’s Recreation Center, which includes 46 apartments above ground-floor shops on Sunset Boulevard.

The marketing material for The Heights says that one of the building’s main selling points is its location in a neighborhood of high-priced real estate, forcing many renters to stay put:

Rapidly increasing cost of homeownership in Echo Park has resulted in tremendous demand for rental housing in the area as housing is still too costly for most renters to become buyers. Within a 1-mile radius of the Property, the median home value is over $633,000 with over 35% of homes valued at $750,000 or higher (Nielsen). Based on a 20% down payment plus monthly property taxes and insurance, the average home has a total monthly cost of approximately $2,885/month. This is approximately 130% higher than projected market rents at the Heights at Echo Park.

A newly renovated studio apartments in the building  is currently going for $1,650 a month, according to a Craiglist ad.

The imposing apartment building, which towers above one and two-story homes and apartments, was commissioned by Rosina Pauli, an adjutant in the Salvation Army, who lived two blocks away from the property.

1650 Echo Park Avenue building entrance 6-17-2015 12-35-51 PM



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  1. What a gorgeous building! Love that art deco era.

    • It certainly is! And even though it “towers” over neighbouring buildings, it fits into its surroundings seamlessly — sadly, something lacking in most the developments going up around northeast L.A. Clearly, it is possible to put in a building larger than what’s around it, and do it with style and grace.

      We need an aesthetics tsar, or committee, or some such that could be part of the development process — but an entity with veto power. Not to add another bureaucratic layer — okay, it would — but there is a way to do in-fill development that complements an area and keeps the soul of a neighbourhood. You just can’t leave it in the hands of the developers, as most of our city leaders seem all too willing to do.

      • It fits in nicely because it has no parking. That right there is the primary reason new mixed use buildings are so ugly in LA… They have to double as industrial scale parking garages to meet the city’s suburban parking requirements.

        • Ad says one off-street parking spot is available, so there’s some parking somewhere on the property. I can also think of 2 other gorgeous twenties apt. buildings that have parking underneath … actually, I just thought of a third. Parking requirements are not the reason buildings are ugly

          • “A parking spot may be available for this unit dependent on availability for an additional $50 p/m.”

            Seriously, what do you think the odds are that a space is available?

        • Amen. If you’re complaining about parking you’re basically complaining about buildings like this.

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