Multifamily
Echo Lake Apartments
1717 Park Ave, Los Angeles, CA 90026
Listing Price: $8,500,000
Investment Overview
Marcus & Millichap, as the exclusive listing agent, is pleased to present Echo Lake — a 36-unit apartment community located at 1717-1725 Park Avenue, directly across from Echo Park Lake in one of Los Angeles' most sought-after rental submarkets.
Situated on two parcels totaling 19,105 square feet, the property comprises two buildings totaling 13,584 gross square feet. The unit mix consists of 18 studio and 18 one-bedroom apartments, offering a well-balanced income profile. Residents benefit from secured gated entry, individually metered units for gas and electric, on-site laundry facilities, and 25 on-site parking spaces — a premium amenity in a neighborhood where parking is notoriously limited.
Current ownership has invested $1.9M in capital improvements since 2021, spanning unit renovations, building systems, and common areas. Of the 36 units, 30 have been renovated with updated kitchens and bathrooms, new flooring, new interior doors, and fresh interior finishes throughout. Building-wide improvements include upgraded electrical, plumbing, and HVAC systems, new windows, and refreshed exteriors. The remaining six units present a straightforward opportunity to capture additional rental upside through the same proven renovation strategy.
The property sits at the epicenter of the Echo Park lifestyle — directly across the lake’s walking paths, open green space, iconic paddle boats, plus just one block from the lively mix of coffee shops, restaurants, and nightlife along Sunset Boulevard.
With its irreplaceable lakefront location, $1.9M of completed capital improvements, remaining value-add potential, 25 dedicated parking spaces, and basis of $236,111 per unit make Echo Lake a compelling investment opportunity in a premier Los Angeles submarket.
PLEASE DO NOT WALK THE PROPERTY OR DISRUPT TENANTS. CONTACT THE LISTING TEAM FOR DETAILS.
Echo Lake Apartments
Investment Highlights
- Directly across from Echo Park Lake — a location that cannot be replicated in this submarket.
- The property sits at the epicenter of Echo Park's walkable, lifestyle-driven rental market — one block from Sunset Boulevard's coffee shops, restaurants, and nightlife. Walk Score of 97.
- Current ownership has invested $1.9M since 2021 across unit interiors, building systems, exteriors, and common areas.
- The six unrenovated units average $1,382/month against a blended market rent of $2,225, a $843/unit gap providing upside potential through unit turnover and renovation.
- Dedicated parking across two buildings and parcels in a notoriously parking-constrained neighborhood. In turn, this supports higher rents and lower vacancy. Additionally, there is an agreement for four nearby spaces, with potential to add two more on-site.
- Only a small fraction of multifamily buildings in the 90026 zip code exceed 25 units. Properties of this scale rarely trade in the area.
- Ten minutes to Downtown LA with no freeway required. Easy access to Hollywood, Koreatown, Glendale, and Silver Lake.
- Two contiguous parcels totaling 19,105 square feet — a rare double-lot footprint in supply-constrained Echo Park.
Exclusively Listed By
Financing By
Listing Price: $8,500,000
Investment Highlights
- Directly across from Echo Park Lake — a location that cannot be replicated in this submarket.
- The property sits at the epicenter of Echo Park's walkable, lifestyle-driven rental market — one block from Sunset Boulevard's coffee shops, restaurants, and nightlife. Walk Score of 97.
- Current ownership has invested $1.9M since 2021 across unit interiors, building systems, exteriors, and common areas.
- The six unrenovated units average $1,382/month against a blended market rent of $2,225, a $843/unit gap providing upside potential through unit turnover and renovation.
- Dedicated parking across two buildings and parcels in a notoriously parking-constrained neighborhood. In turn, this supports higher rents and lower vacancy. Additionally, there is an agreement for four nearby spaces, with potential to add two more on-site.
- Only a small fraction of multifamily buildings in the 90026 zip code exceed 25 units. Properties of this scale rarely trade in the area.
- Ten minutes to Downtown LA with no freeway required. Easy access to Hollywood, Koreatown, Glendale, and Silver Lake.
- Two contiguous parcels totaling 19,105 square feet — a rare double-lot footprint in supply-constrained Echo Park.
Investment Overview
Marcus & Millichap, as the exclusive listing agent, is pleased to present Echo Lake — a 36-unit apartment community located at 1717-1725 Park Avenue, directly across from Echo Park Lake in one of Los Angeles' most sought-after rental submarkets. Situated on two parcels totaling 19,105 square feet, the property comprises two buildings totaling 13,584 gross square feet. The unit mix consists of 18 studio and 18 one-bedroom apartments, offering a well-balanced income profile. Residents benefit from secured gated entry, individually metered units for gas and electric, on-site laundry facilities, and 25 on-site parking spaces — a premium amenity in a neighborhood where parking is notoriously limited. Current ownership has invested $1.9M in capital improvements since 2021, spanning unit renovations, building systems, and common areas. Of the 36 units, 30 have been renovated with updated kitchens and bathrooms, new flooring, new interior doors, and fresh interior finishes throughout. Building-wide improvements include upgraded electrical, plumbing, and HVAC systems, new windows, and refreshed exteriors. The remaining six units present a straightforward opportunity to capture additional rental upside through the same proven renovation strategy. The property sits at the epicenter of the Echo Park lifestyle — directly across the lake’s walking paths, open green space, iconic paddle boats, plus just one block from the lively mix of coffee shops, restaurants, and nightlife along Sunset Boulevard. With its irreplaceable lakefront location, $1.9M of completed capital improvements, remaining value-add potential, 25 dedicated parking spaces, and basis of $236,111 per unit make Echo Lake a compelling investment opportunity in a premier Los Angeles submarket. PLEASE DO NOT WALK THE PROPERTY OR DISRUPT TENANTS. CONTACT THE LISTING TEAM FOR DETAILS.
Exclusively Listed By
Financing By
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