2436 Echo Park Ave, Los Angeles, CA 90026

Property Description

We are pleased to present an eight (8) unit multifamily property located at 2436 Echo Park Avenue in Los Angeles, California. The property is situated in a prime Echo Park location at the top of a hill in Elysian Heights, south of Riverside Drive and west of Stadium Way. Originally built in 1930, this turn-key multi-layered apartment building contains a great unit mix of six (6) one-bedroom / one-bathroom units, one (1) two-bedroom / one-bathroom unit, and one (1) three-bedroom / one-and-a-half-bathroom unit across two (2) detached buildings. The property is positioned on a quiet residential hillside between two (2) streets, boasting panoramic views of surrounding cities and the Los Angeles National Forest mountain range from all the cottage style units. The building is fully turn-key including a new foundation in the main structure. Preliminary plans are included to build a two-story one-bedroom / one-bathroom ADU unit out of one (1) of the garages. Buyer has the option to redo ADU plans for up to eight (8) ADUs if SB 1211 is signed into law (the bill was engrossed June 12, 2024). Select units feature outdoor decks with incredible views. In addition, the property features on-site laundry, four (4) garage parking spaces, and three (3) additional open parking spaces. Situated in a prime Echo Park location, this offering presents an excellent opportunity for any investor to acquire turn-key, high cash flowing cottage style units on a rare hillside property in a core market of Los Angeles.