1859 Echo Park Ave

The Tuvia Group closed 1859 Echo Park Avenue, a five-unit multifamily property, representing an out-of-state seller and a first-time multifamily operator on the buy side. The property traded for $1.45 million, or $290,000 per unit and $529 per square foot, despite significant deferred maintenance, compliance issues, and sewer-related concerns. The team successfully negotiated an all-cash transaction that closed in less than 30 days, while positioning the buyer to pursue cash-for-keys agreements and potential ADU development following the acquisition.