Tuesday, October 25, 2016

How much would you pay for an Echo Park parking space?

Echo Park Parking space

ECHO PARK — How about $100 a month? That’s what the owners of a small parking lot in the 1600 block of Echo Park Avenue are asking as parking becomes an increasingly scarce and apparently valuable commodity.

A “Parking Spaces For Lease” sign went up only about a week ago but broker Clint Lukens said “several inquiries” have already been made about the four available parking spaces in the gated lot.

Will renting out parking spaces  become more common in gentrifying and crowded Eastside neighborhoods?

“Parking is and will continue to be a rare find in our neighborhoods,”  said Lukens in an email. “Our city will never ever have enough parking. Compared to other major metropolises, we are lucky to have all the parking currently in place … here’s to riding bikes!”

Screenshot 2015-12-10 at 3.10.51 PM

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  1. That’s quite a bargain for 250 square feet of real estate in Echo Park!

  2. It seems like a fair price they are asking and less than the cost to rent a garage in the neighborhood. It’s also less than two street sweeping parking tickets in a month!

  3. “Our city will never ever have enough parking. Compared to other major metropolises”
    … we have more parking than the total area of Boston, San Francisco, Paris and Manhattan. combined

    “we are lucky to have all the parking currently in place”
    … says the city that has the worst traffic and worst smog problem in the nation



  4. I really wish this story had told us the actual location and what building that parking lot is supposed to be for. In tracking it down on Google Street View, it isn’t even obvious. There is construction going on next to the parking lot, I have to suspect the parking was for whatever it was that had been there. And I also suspect that once that construction is done and occupied, these spaces will no longer be rented out as they will be used for the occupants of that construction..

    • I think the lot belongs to the apartment building behind it. It may be that the tenants there don’t have many cars or they are keeping the units vacant.

    • I’ve rented a spot in this lot for years years. They rent to anyone in the area, and, at least for as long as I’ve been there, it has not been associated with the house next door (and in fact, that construction has used portions of the lot for scaffolding/trash/nails etc. without concern for the people paying to park there).

  5. That’s actually a good deal….the difference between a 1 bedroom apartment with parking vs without is quite a bit more than that around here.

    • Indeed… which begs the question, why do we insist on making it virtually illegal to build new apartments without parking, while rents are going through the roof?

  6. i rent a space near my house for 75 bucks… but i want another space and there is none available. i’d pay 150 for a space because, like someone said… get a ticket its 75 dollars and who wants to hunt around every night because of the intense influx of club goers in the area. actually, i’d rather get rid of my car.

  7. It appears from photo that the lot may be right next door to a home. Having people going in and out in their cars, shutting car doors, and probably talking to others or on their phones all hours of the day and night can’t be pleasant. Wonder what the legal zoning is at that site?

  8. PS I love the internet, Google popped up two adds for Clint Lukens in the sidebar of this post. I think its Google, unless EastsiderLA is managing its own ad space,

  9. The lot is next to Valerie on Echo park Ave.

  10. The knowledge that I am responsible for everything located on my property has discouraged me from renting out two unused spots on rental property I own. I don’t even need the money and see it as more of a courtesy to neighbors I do see having to park a block or more away from their homes BUT the anxiety of what they may leave in their vehicles is deal-breaker for me.

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