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Presented by Ben Nicolas | IET Real Estate

Lowest Priced Duplex in Echo Park at $950,000

1921 Hillside Bungalow with Spacious Units and Views of the City.

  • Updated
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1644 Lucretia Ave | Echo Park

$949,000 | 4 Beds | 3 Baths | More

This bungalow is an amazing investment opportunity for an owner-user or someone who wants to update and resell.

Despite being in a prime area of Elysian Heights, it’s now the lowest-priced duplex in Echo Park, and well below comparable units in Silverlake, Los Feliz, and Atwater Village. The location is highly desirable as it’s walking distance to hot spots on Sunset Blvd, yet the neighborhood itself sits on a quiet cul-de-sac.

It’s mere steps away from Valerie Confection, a short walk to Echo Park Lake, and an easy drive to Dodger Stadium and Downtown. Tenants are paying market rents, $53,628 current gross rental income. 3.9% cap rate/17 GRM.

Built in 1921, both units are surprisingly spacious, with all the history and character you could want in a California home. This 1,623 square foot, 2-story property sits on a 3,000 square foot lot on the hillside providing peek-a-boo views of the city.

Top unit consists of 2br/1ba while the bottom unit feels like a single-family home complete with 2br/2ba. The top unit entryway includes a charming, covered deck with room to create a relaxing, lime tree-shaded, outdoor living space. Inside you’ll find a breezy, open floor plan, with hardwood floors, lots of natural light, and views of the hills.

The lower unit also has hardwood flooring, a roomy living area, and a kitchen with plenty of counter space. The duplex also includes an outdoor washer and dryer, and gated, tandem parking.

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This is a Sponsored Post is an advertisement on behalf of IET Real Estate.

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