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Closed
Closed
Echo Park
 | 
Multifamily

1556 Parmer Avenue

Los Angeles, CA 90026
Offering Price
Sales Price
$1,575,000
Offering Highlights
Deal Highlights

Quick Escrow. Opened escrow completely non-contingent and closed in fourteen days.

Low Cap Rate. Sold for the 5th lowest cap rate (2.62%) in Echo Park history, according to CoStar.

Multiple Offers. Procured multiple competitive offers within the first week of marketing

High GRM. Broke the record for the 5th highest gross rent multiplier (18.69) for a rent-controlled building in Echo Park history.

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Close of Escrow
6/25/2019
7

Units

4,722

Building SF

1927

Year Built

80

Walk Score

$330.05

Price/SF

$225,000

Price/Unit

2.62%

Current Cap

18.69

Current GRM

4,722

Building SF

1927

Year Built

$330.05

Price/SF

7

Units

4,722

Building SF

1927

Year Built

80

Walk Score

$330.05

Price/SF

$225,000

Price/Unit

2.62%

Current Cap

18.69

Current GRM

7

Potential Buildable Units

4,722

Land SF

$330.05

Price/Land SF

$225,000

Zoning

1927

Year Built

80

Walk Score

Property video
Property Location
Echo Park
Submarket
Lead Agent Info

Contact us for more information.

Andres Diaz

Managing Director
Multifamily Investments

(323) 376-2469

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