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2011 Echo Park Ave
2011 Echo Park Ave, Los Angeles, CA 90026, USA
$1,695,000
CLOSED
October 6, 2024
SALE PRICE
$1,695,000
UNITS
5
PRICE PER UNIT
$339,000
PRICE PER SF
$578.89
CAP RATE
6.34%
GRM
11.06
Deal Story
Selling Agent
The Tuvia Group closed 2011 Echo Park Avenue, a lender-owned five-unit REO, at full list price less than 45 days after the property reverted to the lender. The team generated multiple offers and ultimately sourced the buyer, a 1031 exchange investor coming out of an $8 million Oklahoma sale. The transaction was structured with 75% seller financing at an 8% interest rate, providing the buyer substantial leverage. Despite having no on-site parking, the property achieved one of the highest price-per-unit and price-per-square-foot figures recorded in the 90026 ZIP code during 2024.
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