Silver Lake Are Homes and Information

Funky architectural in the Echo Park Hills

If you like the unusual and need a spacious place in the hills, this funky Echo Park architectural could be just the ticket.  The house is more than 3,500 square feet on a 26,000+ sf lot on a street that I must admit I had never heard of before I went to see the house during the broker's open today.  Fellowship Park Way is most likely not a common street name to most folks.  It's set in a remote canyon in Echo Park off of Landa on a street that I didn't even know existed until today.

Besides from being off the beaten track, 2341 Fellowship Park Way is an eclectic home complete with a garden room and an indoor pond with a waterfall. How is that for a unique Echo Park home? The listing agent indicates that assessor's records reflect 2,963sf though the house measures at 3,581sf and has an additional small bonus building with bath.  The current owners have lived here for many years and added on along the way in a sort of "Winchester Mystery House" manner.  I was glad to have a copy of the floor plan of the 4-level structure so I could find my way around.

 The home includes a total of 4 lots which is more than ½ acre of cascading gardens with meandering trails.  If you are looking for a big flat yard, this is not the place for you. On the other hand, if you love the feel of being in the Echo Park Hills with canyon, mountain, city light and Griffith Park Observatory views, it could be worth your time to take a look at this home.

Would you like to live in 5 bedrooms and 4 1/2 baths? There are bright open spaces with high ceilings and the kitchen has 2 sinks and 2 stoves. The upper level of the home has its own kitchen, bath, bedroom and living room so it can function as a mother-in-law unit or fully contained guest suite.  (Wouldn't it be nice if your house guests actually cooked for themselves?!) Seriously, this would be a great thing for extended family or even when you are having people over for the holidays.  I could personally use a second kitchen when Thanksgiving rolls around! 

If I've sparked your interest, let's go take a look at this one together. There will be no public open houses.  For more information on buying or selling property in  Echo Park, Silver Lake, Los Feliz, , and surrounding areas, contact me directly at 213-215-4758 or check out LApropertySolutions.com 

 
Broker Associate
Keller Williams Realty, Los Feliz
213-215-4758
http://www.LApropertySolutions.com
Copyright © 2011 By Jenny Durling * Funky architectural in the Echo Park Hills* 

Looking for a great deal? A bank owned property may not be what you had in mind

In the current real estate market, buyers are hearing a lot about the great deals to be had with so many properties going into foreclosure. Don’t get me wrong, there are some very good deals out there but buyers need to be clear on what truly constitutes a good deal. They need to be prepared for the realities of bank owned properties and their general condition. We’d all like to be able to buy a great house in a great neighborhood at a great price. The thing is, it can be difficult to have all 3 of those things align, and particularly when it comes to bank owned properties. If a person loses his home to foreclosure, it stands to reason that the property is not going to be in stellar condition. People that don’t have the money to make their mortgage payments are not likely to have the money to maintain the property either. Expect bank owned homes to be in need of repairs.

Expect Repairs

Besides deferred maintenance, there seems to be a trend toward damaging properties as well. Perhaps these people are filled with rage that they are losing their homes. I’ve seen properties that are missing doors, windows, sinks and more. Some people go so far as to remove the copper pipes, toilets, kitchen cabinets fixtures and even recessed lighting. I don’t know if they are removing these items to sell for extra cash or simply trashing the property in anger.

There is a reason for that asking price

In any case, buying a foreclosed property is not necessarily for the faint of heart. Of course it is possible to find an REO that is still in pristine condition. When you do, expect to pay accordingly. If a foreclosed property comes onto the market priced $100,000 below other similarly sized homes in the neighborhood, there is a reason. It could be that the bank has listed the property low in order to attract offers, which is pretty common in the Silver Lake area. The other reason for the low price is most likely the property’s condition. I’m not suggesting that it doesn’t make sense to buy a foreclosed property. Of course there are great deals to be had, but be aware that low-priced real estate comes with its problems. If the price sounds too good to be true, it probably is! Be prepared to see some pretty dire conditions and make sure you have the money to make necessary repairs. Banks generally price properties below market and expect to sell them in as-is condition. You may need to make some repairs to the property with your own money before a lender will give you a loan on it.

For more information on buying bank owned properties and information on buying or selling property in Silver Lake, Los Feliz, Echo Park, and surrounding areas, contact me directly at 213-215-4758 or check out LApropertySolutions.com

Broker Associate
Keller Williams Realty, Los Feliz
213-215-4758
http://www.LApropertySolutions.com
Copyright © 2010 By Jenny Durling * Looking for a great deal? A bank owned property may not be what you had in mind*

 Elysian Heights- a neighborhood in the hills of Echo Park

Most people are familiar with Griffith Park, but not as many have heard of Elysian Park and the residential area adjacent to it known as Elysian Heights- the hills of Echo Park.

Founded in 1781, Elysian Park is 600 acres of preserved space planted with native chaparral, eucalyptus, ficus and avocado trees. Considered an urban oasis to nature-loving Angelinos and visitors alike, the park is home to hiking trails, picnic areas and playing fields. It's also the location of Dodger Stadium and the Los Angeles Police Academy!

The residential area bordering the park took on the name Elysian Heights and many of the homes offer wonderful views of downtown, Echo Park and out to the ocean not to mention a great vantage point for watching summertime fireworks at Dodger Stadium. This hilly neighborhood above Echo Park property abuts the western border of the park and those homes closest to the park can command prices in the same range as those near the Silver Lake reservoir and its popular walking path. The area's proximity to downtown is another reason for the popularity  of Elysian Heights.

Families began moving into the Elysian Heights area during the real estate boom of in the 1800's. New residents ran the gamut from factory works to artists, musicians, filmmakers, and counter-culture activists with an ethnic and economic mix of true diversity.  This hilly area of Echo Park  still draws a diverse crowd and little has changed in this urbanized wooded area still visited by a plethora of wildlife from raccoons to coyotes.

The winding, hilly streets of Elysian Heights make traffic light on residential streets and like other neighborhoods nearby like Franklin Hills in Los Feliz, there are a number of public stairways used by pedestrians as both short cuts and daily workouts. Most homes in the area are smaller California bungalows, mid-century cottages and various revival styles like this storybook cottage on Park Dr. Some of them are found on walk streets with no off street parking what- so- ever, but this has not stopp ed the popularity of buying in the area. There are even some historically significant homes in Elysian Heights including the Southall House built by Rudolf Shindler  at 1855 Park Dr. and the Paul Landacre cabin and Grounds at 2006 W. El Moran that is listed as one of Los Angeles Historic cultural monuments.

As Echo Park continues to add coffee houses, restaurants and boutiques its popularity with artists and young couples grows. Those seeking a home with a view but less of a dent to the pocketbook are drawn to the hills of Elysian Heights where they can still find a good value.

For more information on Elysian Heights, Angelino Heights, Echo Park, Silver Lake, Los Feliz,  and surrounding areas, contact me directly at 213-215-4758 or check out LApropertySolutions.com

Broker Associate
Keller Williams Realty, Los Feliz
213-215-4758
http://www.LApropertySolutions.com

Copyright © 2010 By Jenny Durling *All Rights Reserved * Elysian Heights- a neighborhood in the hills of Echo Park

Elysian Heights Story Book Cottage with views of the Hollywood Hills!

This is the perfect house for lovers of old architecture who want an unspoiled canvas to work with. The thick walls, curved fireplace and original windows and hardware make this a magnet for those that appreciate craftsmanship.  Put that together with a great location in the hills of Echo Park directly across from Elysian Park and amazing views from multiple windows and what else could you want?  The "moat and drawbridge' entrance to the front drawer only add to the charm.

I expected this Echo Park home to sell the first week it was on the market.  Priced at $675,000, this 1900+sf house has much to offer.  See it this Sunday from 1-4 or call me for a showing. I'm a fan of old architecture and don't need much of an excuse to go back for another look!

To see this property or for more information on Echo Park, Silver Lake, Los Feliz  and surrounding areas, contact me directly at 213-215-4758 or check out LApropertySolutions.com

Broker Associate
Keller Williams Realty, Los Feliz
213-215-4758
http://www.LApropertySolutions.com

The Sunset Five - New Architectural Condos on Sunset Blvd in Echo Park

It seems a lot of buyers are looking for modern architecture these days and for those who like the open feel of a loft but also want to have walls and doors on their bedrooms, the Sunset Five in Echo Park could be an option. An option, if you're ready to be an urban pioneer.

Echo Park, has changed dramatically over the years and is attracting buyers who like the urban landscape and diverse culture.  This new development may be just what the doctor ordered or it may be a little ahead of its time for its particular location.

The modern exterior of concrete block, glass and corrugated metal is a sharp contrast to the surrounding properties. There are old homes on either side and across the street, a commercial strip of little shops and a neighborhood bar called Little Joy. It seems it may be a while before this particular spot is really hopping and new residents will have to put up with the bus stop in front of the building and traffic noise from Sunset Blvd.

The five units have been on the market for just over a month at this point and none of them have sold yet.  It may have more to do with the prices than anything else, though I was less than impressed with the interior finishes. I actually had to ask if the units were finished.  Apparently that was the look the architect was going for.

All five units have 2 bedrooms and 2 baths, one with an additional half bath and range in size from 1184 to 1765 sq. ft. Here's a break down of the units:

The development is the work of  award-winning architect/developer Chasen Architecture and was built with a focus towards green design.  The concrete walls and floors protect the interiors from extreme changes in temperate which should save on heating and cooling costs.  Some units have plumbing and electrical conduits install to allow for future installation of solar panels shoul d the new owner want to install them.

Do I think these units will sell?  Of course  they will, but it feels like they are priced as if they are located in Silver Lake and not in Echo Park.  If the units come down to a price more in line with the location, I expect they'll sell pretty quickly.

To see these units or for more information on Echo Park, Silver Lake, Los Feliz  and surrounding areas, contact me directly at 213-215-4758 or check out LApropertySolutions.com

Broker Associate
Keller Williams Realty, Los Feliz
213-215-4758
http://www.LApropertySolutions.com

Elysian Heights Duplex! Buy a duplex in Echo Park get help paying your mortgage

I've talked about this before.  Why buy a house when you can buy income property and have a tenant help you pay your mortgage?  That post was about properties for sale in Silver Lake, but the same information holds true for whatever area you are looking to buy. 

This property is located at 2158 VESTAL AVE and consists of  a 2 bedroom/1 bath unit plus a 1 bedroom/1 bath unit.  Echo Park is a highly desirable rental area and this is a nice street of small bungalow type properties.  Besides the location, this property has a couple of big plusses for average hard-working first time buyer.  It's Done! You don't have to raise a finger. Just call your friends with trucks, order some pizza and beer and move right in.

Which unit should you move into?  That's another plus. Take your pick. Both units are vacant. You can live in the 2 bedroom, or take the smaller unit and collect more rent.  Having the property delivered vacant lets you set the rents to market value, plus there are no relocation fees to pay to existing tenants before you can take occupancy. 

The garage has been converted into storage but there is still off street parking available in the driveway. This are of Echo Park also has a decent amount of offstreet parking available.  The lot is small so it's a bit of a condo alternative. The front yard is fenced in and grassy but that's about it for outdoor space.  If you think in terms of living there now and moving out later to rent both units out, the small yard simply means less maintenance for you as a landlord down the road.

This one is definitely worth a look. It's scheduled to be open today from 2-4 but if you'd like to check it out another time, give me a call at 213-215-4758 and I'll make arrangements.

For more information on Silver Lake, Los Feliz, Eagle Rock and surrounding areas, contact me directly at 213-215-4758 or check out LApropertySolutions.com

Broker Associate
Keller Williams Realty, Los Feliz
213-215-4758
http://www.LApropertySolutions.com

Bank owned Mid Century Condo in Echo Park just came on the market

That's right! A unit in the cool Mid Century modern complex in Echo park is bank owned and ripe for the picking! 

If you haven't heard of Lago Vista in Echo Park, Check out my recent post on this property.

 The complex was designed by a Mid Century Modern architect by the name of Allyn E Morris.

Unit # 203 came on the market Sept 10, 2009 for the listed price of $371,000.  This unit is a 2 bedroom,  bath condo with a teriific view of Echo Park Lake and all the amenities of Lago Vista including panoramic views, relaxing pool and security.

There is currently one other unit available in this Echo Park condo complex.  Unit 512 was the architect's own unit. It has been totally renovated and is the only unit with a working fireplace. It also has an extra large patio overlooking Echo Park Lake and comes with 2 dedicated parking spaces. This unit is in the back building and in great condition and is listed at $439,000. At $371,000 the bank owned listing is a bargain!

  If you are interested in either of these units or any other condos, houses, or income properties in the Silver Lake and Echo Park areas, call me directly at 213-215-4758 or check out my website at LApropertySolutions.com

Broker Associate
Keller Williams Realty, Los Feliz
213-215-4758
http://www.LApropertySolutions.com

Lago Vista is a Cool Mid Century Modern condo complex with all units overlooking Echo Park Lake!

There are a lot of folks living in and around Silver Lake and Echo Park who probably don't know that this particular condo complex exists. It's known as Lago Vista.  The complex was designed by a Mid Century Modern architect by the name of Allyn E Morris.  He liked to weave his slender structures to follow the shape of the land.  His first home was the Max Bubeck house in Eagle Rock, built in 1956 and he designed a number of inventive houses, apartment buildings, offices and shopping center. Most of his work included moderns properties built in the 50's, including his own house and studio in Silver Lake.

Lago Vista is a condo complex in Echo Park, created circa 1973 and if you can get a bird's eye view, it's obvious how he allowed the shape of the space to determine the shape of the structure. 

It's a uniquely designed midcentury modern built right at the cliff's edge with he lower building curves right along the ridge of the cliff that overlooks Glendale Blvd and the Echo Park Lake and california bungalows below.  It's quite a stunning piece of architecture offering panoramic views over the lake and downtown Los Angeles to all of it's units. The complex is divided into two buildings with manicured grounds, gated/secured entrance and parking with a lovely teardrop shaped pool.  All units are 2-level, townhouse style with walls of glass and balconies to take in the glorious views.

There are currently two units available in this Echo Park condo complex.  Unit 512 was the architect's own unit. It has been totally renovated and is the only unit with a working fireplace. It also has an extra large patio overlooking Echo Park Lake and comes with 2 dedicated parking spaces. This unit is in the back building and in great condition and is listed at $439,000.

 

 Unit 313 is also available and is located in the front building. It's right at the curve of the structure and offers a commanding view of Down Town Los Angeles as well as Echo Park Lake below and Angelino Height across the lake. Priced at $399,000, it's a great deal for such a prime location in a stellar complex.

 For more information on the Allyn E Morris and other midcentury modern architects, check out the book Forgotten Modern: California Houses 1940-1970 by Alan Hess.

 If you are interested in either of these units or any other condos, houses, or income properties in the Silver Lake and Echo Park areas, call me directly at 213-215-4758 or check out my website at LApropertySolutions.com

Broker Associate
Keller Williams Realty, Los Feliz
213-215-4758
http://www.LApropertySolutions.com