We are pleased to present for sale a 5 Unit tremendous value-add multifamily investment opportunity a block from famous Figueroa Street in one of LA's Hottest Rental Locations Highland Park! For the first time on the market in 40+ Years, 5944 Echo Street, offers investors an opportunity to add substantial value with 214% upside potential. The original family/ownership built 3 Units in 1985 atop (2) Units that were constructed in 1923. (3) of the (5) units are 2 Bedroom & 1 Bath Units and (2) Units are 3 Bedroom and 1 Bath Units. The property boasts a total square footage of 4,000 SF, situated on an expansive lot size of 7,243, and zoned RD2-1-HPOZ, with plenty of parking available for tenants. The property provides the opportunity to construct an ADU at the rear of the lot Buyer to Verify. Strategically located 1 block south of famous Figueroa St, the property is nestled in the best retail pocket of NELA, with direct walking access to Figueroa retail corridor which provides countless eateries, trendy bars, retail, and coffee shops, and not to mention steps away from The Gold Line. Considered "Walker's Paradise" with a (96) walk-score, where daily errands do not require a car. This rare opportunity is poised for an astute investor looking to capture strong market returns on a supply constrained product in a booming area where prices and rents continue to appreciate Year-over-Year.
Sold for $1,050,000 on 12/07/22
$1,050,000
5944 Echo St, Los Angeles, CA 90042
5beds
2baths
--sqft
Multi Family
Built in 1985
-- sqft lot
$1,376,400 Zestimate®
$--/sqft
$2,797 Estimated rent
What's special
Zillow last checked: 7 hours ago
Listing updated: December 08, 2022 at 01:17pm
Listed by:
Eric Dilanian DRE #01951699 213-233-4379,
Remax Commercial and Investment Realty
Bought with:
Eric Dilanian, DRE #01951699
Remax Commercial and Investment Realty
Source: SDMLS,MLS#: 22-214879
Originating MLS: Beverly Hills/Greater LA

Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 5
- Bathrooms: 2
Heating
- Wall/Gravity
Cooling
- Wall/Window
Interior area
- Total structure area: 0
Property
Lot
- Size: 7,244 sqft
Details
- Parcel number: 5492016006
- Zoning: LARD2
- Zoning description: LARD2
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
Condition
- Year built: 1985
Community & neighborhood
Location
- Region: Los Angeles
- Subdivision: Highland Park Condos (HP)
Services availability
Get a cash offer in 3 minutes
Find out how much your home could sell for in as little as 3 minutes with a no-obligation cash offer.
Estimated market value
$1,376,400
Get a cash offer in 3 minutes
Find out how much your home could sell for in as little as 3 minutes with a no-obligation cash offer.
Estimated market value
$1,376,400