How much higher can they go? Asking rents top $6,700 a month in new Echo Park apartment building

ECHO PARK — The most dramatic symbol of change on the south side of Echo Park is nearly complete, a wedged-shaped apartment building painted in blocks of white, grey and Kermit green. Known as 333B, the 69-unit building  — with rooftop spa and floor-to-ceiling windows — rises four stories above the junction of Temple Street and Union and Belmont Avenues. But what might be more dramatic than the size and colors of 333B is the asking rent for the priciest unit: $6,705 a month.

That kind of rent would get you a two-level apartment with three bedrooms and 2 baths spread over more than 1,400 square-feet of space, according the 333B website.  Of course, there are small and less expensive units. But even the smallest apartment, a studio with about 434-square-feet of space, goes for more than $2,000 a month.

The Eastsider contacted the leasing reps at 333B for more details but received no reply.

The asking rents at 333B set a new high for Echo Park south of the 101, which had long been the lower-priced alternative to the higher prices traditionally found north of the freeway.

333B is one of several new apartment buildings that recently been built or are under construction along Temple Street.  A short walk to the east, the 49-unit Echo apartments opened in 2015 with 2-bedroom units going for nearly $3,000 a month. Meanwhile, a few blocks west, the 200-unit Alexan South Echo is underway  near another 49-unit project that is under construction.

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Jesús Sanchez, Publisher

The Eastsider

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