1515 Echo Park Avenue

Description

1515 Echo Park presents a mixed-use investment opportunity located along Echo Park Ave, just north of Sunset Blvd. Echo Park continues to attract long-term renters and owner-users drawn to its proximity to Sunset Blvd, Echo Park Lake, and Elysian Park, as well as to direct access to DTLA and surrounding Eastside neighborhoods (Silver Lake, Los Feliz, and Atwater Village). The property is comprised of a street-front commercial space, a Craftsman-style single-family residence DELIVERED VACANT with 2-bdrms and 2-baths, an attached studio unit at the rear of the home, and a detached rear building containing (2) 1-bdrm units. The layout offers a diversified income profile while preserving a residential scale that blends naturally with the surrounding neighborhood. Property amenities include community laundry, a two-car garage located at the rear of the site, and an outdoor entertainment area well-suited for year-round use, including al fresco dining and shared outdoor gatherings. A defining feature of the offering is its walkable location in Echo Park. The property is situated approximately 0.3 miles north of Sunset Blvd, placing it within close proximity to many of the neighborhood's most established cafs, restaurants, boutiques, and nightlife destinations. Echo Park Lake is approximately 0.6 miles from the property, and Dodger Stadium is roughly 1 mile away and accessible by foot or bike. The entrance to Elysian Park is also approximately 0.6 miles from the site, providing immediate access to hiking trails, open space, and panoramic views of the city. From an investment standpoint, the property is offered at a 5.82% CAP rate on current rents with approx. 18% rental upside. At projected market rents, the property is expected to stabilize at a 6.84% CAP rate and a 10.27 GRM. Not all units have been renovated, allowing investors to capture additional upside through interior improvements over time. The interior photography provided reflects a recently renovated one-bedroom unit and illustrates the potential finish level achievable across the remaining units. Overall, 1515 Echo Park Avenue offers a well-located, mixed-use asset that combines residential character, walkability, and meaningful income growth potential within one of Los Angeles' most recognizable Eastside neighborhoods.