About 1615 Park Ave
Kingside Investment Group of Keller Williams Downtown Los Angeles is proud is present 1111 Echo Park Avenue, a luxuriously built 2020 new construction apartment building in Echo Park. The property is comprised of nine (9) one-bedroom units that vary in size from 740 square feet to 1,050 square feet and two (2) two-bedroom/two-bathroom units that measure 1,300 square feet. The property offers a superb location across Echo Park Lake and one block away from Sunset Boulevard. Each unit boasts private balconies, in-unit washer/dryer, and stainless-steel appliances. The apartment complex is fully leased and offers a prospective investor very attractive assumable financing in the amount of $4,500,000 with a fixed rate of 4.30% till 2027. 1111 Echo Park Avenue presents an opportunity to acquire a non-rent-controlled asset in a submarket that has little to no inventory for new construction development due to its harsh new development regulations and scarcity of land. Certificate of Occupancy was issued in March 2022 and the property has controlled access with an elevator and gated garage.
Features of 1615 Park Ave
MLS® # | 23-289265 |
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Price | $7,000,000 |
Bedrooms | 27 |
Bathrooms | 15.00 |
Square Footage | 13,260 |
Acres | 0.35 |
Year Built | 2020 |
Type | Residential Income |
Sub-Type | Apartment Building |
Status | Active |
Community Information
Address | 1615 Park Ave |
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Area | Silver Lake - Echo Park |
City | LOS ANGELES |
County | Los Angeles |
State | CA |
Zip Code | 90026 |
Amenities
Garages | Controlled Entrance |
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Is Waterfront | No |
Has Pool | No |
Interior
Heating | Central |
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Cooling | Air Conditioning, Central |
Fireplace | No |
# of Stories | 3 |
Has Basement | No |
Additional Information
Date Listed | July 11th, 2023 |
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Days on Market | 298 |
Zoning | LAR3 |
Foreclosure | No |
RE / Bank Owned | No |
Listing Details
Agent | Andres Diaz (01956479) |
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Office | Keller Williams Downtown LA |