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Echo Park storefront shakeup; small-lot projects rise in Highland Park and Silver Lake; creative companies jump into Frogtown

A Roundup of Eastside  Real Estate and Development News

Welcome to a digest of Eastside real estate news, development and people. In this week’s issue:

Echo Park continues evolving as longtime shops go up for lease or close their doors without explanation. Highland Park didn’t used to have a lot of new residential construction. Now one builder has two projects going up at once. And the L.A. River in Elysian Valley is emerging as a trendy business address.

Read on!

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Real Estate Roundup

Echo Park

There is more change taking place among the storefronts of Sunset Boulevard – including two in the 1600 block. Down at 1610-1620, the Barreto dental clinic is listed as available for lease on Loopnet. The listing states that the 1,400 square-foot space is being offered at $48 per square foot on an annual basis.

Just four doors down, LG Market, aka La Guadalupana, closed up about two weeks ago and has not reopened, according neighboring shop keepers. (The phone has been disconnected).  It’s not clear what will happen to this large space in the middle of the block.

Then there’s Out of the Closet, a block away in the 1700 block of Sunset. That space has been listed for lease on Loopnet for months. A spokesperson for the owners of the thrift store told the Eastsider in December that the listing may have resulted from a misunderstanding. But the last time The Eastsider checked with the brokers, they said they were still talking to the tenant – and that no deal had been reached.  No rental rate is disclosed for the 11,264 square-foot space.

Elysian Valley

The L.A. River is emerging as a trendy business address for tenants in search of unconventional creative office space.   Last week,  La Colombe, a high-end coffee maker, opened a new cafe next to its roasting plant and West Coast offices that front the L.A. River path at Newell Street. The neighbors in the same riverfront complex — a 25,000-square-foot collection of former industrial buildings — include L.A.-based  handbag and fashion designer Clare V, advertising agency Black Box,  Epic Magazine and media production firm Ways & Means.  The retail spaces remaining in the complex are now asking monthly rents of $4 a square-foot.

Highland Park

One home builder has two projects in the works  as new home construction in the neighborhood has picked up over the last year or so. Along the 5100 block of Echo Street, pre-sales are underway for 24 new 3-bedroom, small-lot homes at the Echo Two Four project. The same builder – Williams Homes – also has the Bridewell project, nine single-family homes of the same size as Echo Two Four. Floor plans also indicate three levels, three bedrooms and a roof deck.

Silver Lake

Four lots could be divided into 14 in the 700 block of Hyperion Avenue. A developer has begun the process of building 14 homes on four lots under the city’s small-lot ordinance, according to papers filed with city planning.

Notable Sales

A 2-bedroom Eagle Rock home designed by noted mid century architect Dick Lowry has sold for $1,149,000, according to Redfin. That price, of course, got you more than just two bedrooms. It also included two other contiguous, forested lots, for a total of 18,000 square feet of hillside land. The property in the 1400 block of Oak Grove Drive was built in 1961.

On The Market

New Listings From Eastsider Sponsors

Two from Tracy Do: Light-filled Homes with Beautiful Views in Mt. Washington & El Sereno

For Sale: Sweet Spanish Treehouse in Highland Park

That’s it for this  issue of Real Estate Monday. We will be back next Monday.

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5 comments

  1. Thank you for the great news round up on storefront property listings in Echo Park. The LG Market has had empty shelves for a while, hinting at an inevitable closure. It will be interesting to hear what will become of the space as well as some history about the market.

    Regarding the Out of the Closet listing, within the description is states: “Rent for entire bldg $30,000 a month with low nets”

  2. So 6 million in land cost for 14 houses on Hyperion – plus low 6 figures to get the tenants out. So at least 425k for each difficult sloping lot. You’d have to get at least 1.3 each – and still 3 years to completion with a recession long overdue by then. We shall see.

  3. I wonder what is happening to the Stockroom/ old American Apparel space that was on Loopnet for months but now is removed. Either Stockroom decided to stay, or they have rented that property as well. Also the former Machine Project space is not listed anywhere and there is brown paper neatly placed over the windows in the exact manner as when Tierra Mia was opening in the prior Downbeat Cafe space. I wonder if they are expanding?

  4. Shame about LG. Shopped there since I moved in 5 years ago. A good, affordable local market you could walk to. I’ll miss it.

  5. A decent alternative to LG is El Rancho at Sunset and Alvarado, though who knows how much longer they’ll last in the neighborhood.

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