Echo Lake Apartments — Sale in Los Angeles, CA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Los Angeles, CA 90026

Investment Figures

Cap rate
6.05%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

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. Investment Highlights: • Directly across from Echo Park Lake — a location that cannot be replicated in this submarket. • The property sit

Market Context

This multifamily in Los Angeles, CA is listed for sale. It is offered at an approximate 6.0% capitalization rate, a key benchmark for income-producing multifamily assets. It has been on the market for 99 days. Compare it against other multifamily listings for sale in Los Angeles, CA — view the full market.

As of Q1 2026, the Greater Los Angeles multifamily market showed average asking rents near $2333.00/unit/mo, and cap rates around 5.0%. Source: multiple brokerage reports, Q1 2026.

Its 6.0% asking cap rate is above the Greater Los Angeles multifamily market average of about 5.0%, implying a higher yield (and typically more risk or upside) than comparable assets.

Multifamily market FAQ

What is the typical cap rate for multifamily in Greater Los Angeles?
About 5.0% as of Q1 2026, per multiple brokerage reports.

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