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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

    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.

    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#: 22-214879MLS LogoOriginating 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