- Located in the Highly Sought-After Echo Park Neighborhood
- Significantly Sized Commercial Development Opportunity
- Walking Distance to the Metro Orange Line
- Easy Access to U.S. Route 101
- Central Location 1 mile West of Downtown Los Angeles
- 25,000 Average Daily Traffic Count
- High Walk Score of 73; Near Dodger Stadium, Downtown, and Silverlake
- Unique Opportunity to Acquire an Exceptional, Highly Visible Location with over 150 Feet of Frontage on Prime Glendale Blvd
- Passive Income From Billboard
Echo Park is growing community that many young creatives and professionals, families, and long-time Angelenos call home. It is one of LA’s most quickly-evolving neighborhoods and is filled with one-of-a-kind retail and dining experiences. Brimming with an enticing mix of trendy eateries, ample nightlife, and a bit of quirk, the neighborhood has an unexpected appeal. Its densely populated hills are packed with single-family homes, duplexes, and vintage apartment buildings. Whether your looking for a relaxing afternoon stroll along the Echo Park Lake or trails at Elysian Park or wanting to experience the bustling nightlife, you will fall in love with this hip and creative neighborhood.
ECHO PARK IS BOOMING
200,000+ square feet of retail space is currently in development with new retailers like Lassens opening on Sunset Blvd, and the newly completed Mohawk Collective, offering Starbucks Reserve and The Habit Burger Grill, amongst others.
Millennials have ditched the suburbs for a more active and dynamic urban lifestyle. Many don’t own or want to own cars, so they rely on walking, biking, Metro or Uber. There is a limited supply of housing in Los Angeles, and especially in Echo Park, which is causing upward pressure on rents. Research firm Axiometrics projects rental rates are to increase by 25% over the next five years.
MOST SEARCHED NEIGHBORHOOD
Echo Park was rated the “Greatest Neighborhood in Los Angeles.” It’s a stone’s throw from Chinatown, a short bike ride from downtown L.A., Silver Lake and Los Feliz. It’s also surrounded by four major freeways: The 5, The 2, The 110 and the 101. That makes for a quick jaunt to the Arclight in Hollywood, The Americana in Glendale, or even USC. It is also home to one of the largest public parks in the city — Elysian Park — the beautifully restored Echo Park lake.
NEW YORK IN LA
With its close proximity to a multitude of public transportation options and its incredible “walkability”, Echo Park residents have an East Coast feel in Los Angeles. LA residents now have a greater choice in where they live while still being connected to major employment hubs. Residents at the subject properties are adjacent to the Metro Bus Local Line, with connectivity to other metro rail lines and surrounding submarkets like Downtown LA, Hollywood, Studio City, North Hollywood, Culver City, Santa Monica, and Pasadena.
AFFORDABILITY GAP – BUY VS. RENT
The median neighborhood home price is approximately $975,000 making home purchases out of reach for most local renters. Renting at the subject properties (post renovation) offers tenants a modern, sophisticated alternative at a fraction of the cost of home ownership. This disparity is a leading reason behind high occupancy and demand throughout the marketplace.