2004 Echo Park Avenue, Los Angeles, California 90026, Los Angeles, 90026 - 0 bed, 0 bath
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Los Angeles, California 90026
This High-Potential Investment Opportunity is a Triplex listed at $1,249,000—positioned well below the $1,312,873 Fair Market Value by 4%. This valuation gap offers $63,873 in Instant Equity. Featuring LARD3 zoning and historic Queen Anne Victorian architecture, the property has a Condition Rating of 5, indicating significant deferred maintenance. With two units currently generating income, this asset is ideal for Buy-and-Hold Investors or Value-Add Developers seeking to leverage Mills Act tax benefits in a prime, walkable Echo Park location.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2004 Echo Park Avenue Subject | $1,249,000* List Price | 0 | 0 | 2,480 | $529 | - |
A 2132 Branden Street Sold | $1,056,000 | 4 | 3 | 1,733 | $609 | 0.5 mi |
B 1131 Echo Park Ave Active | $1,250,000 List Price | 0 | 0 | 2,080 | $601 | 1.0 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1920, this century-old property shows significant signs of age with kitchens and bathrooms that appear to be over 30 years old and in need of a full rehab. While functional enough for current tenancies, the 'huge upside potential' noted in the description is agent-speak for substantial deferred maintenance. The electrical panels and exterior surfaces show wear consistent with a property that has not had a major systems or interior overhaul in several decades.
Known as 'The Queen of Elysian Heights,' this rare Queen Anne Victorian offers unique character and eligibility for the Mills Act, providing significant potential property tax relief.
This triplex features LARD3 zoning and below-market rents, offering a rare opportunity for immediate income with substantial long-term value-add potential through renovations and market-rate adjustments.
Situated on a prominent corner in Elysian Heights, the property is steps away from top-tier neighborhood amenities, including Canyon Coffee, Cookbook, and Elysian Heights Elementary Arts Magnet.
Built in 1920 and marketed with 'huge upside potential,' the property likely requires significant capital expenditure for modernization and structural preservation to maintain its historic integrity.
With two units occupied by month-to-month tenants at below-market rates, the new owner may face challenges in immediate repositioning or achieving full market yield without strategic tenant management.
7 bed | 2 bath | 2,560 sq ft | Corner lot | Three-unit property | LARD3 zoning Welcome to one of the most storied corners in upper Elysian Heights. Sitting at Echo Park Ave and Ewing St, this Queen Anne Victorian is widely known as "The Queen of Elysian Heights" and is believed to be among the oldest homes on the avenue. A true storybook-style gem with huge upside potential. The property includes three units total: the main Victorian residence and a two-unit duplex, all set on a 4,046 sq ft corner lot with 3 parking spaces. Two units are currently occupied with month-to-month tenancies at below market rents, creating immediate income alongside meaningful upside for a future owner. Live in the main home and let your tenants offset the mortgage, or hold all three units as a long-term rental in one of the Eastside's most in-demand neighborhoods. The LARD3 zoning opens additional doors for the right buyer. As a historically designated property, the next owner may want to explore potential Mills Act property tax benefits. The Mills Act allows owners of qualified historic properties to receive significant property tax relief in exchange for a commitment to preserve and maintain the home's historic character. Buyers are encouraged to research eligibility and application requirements through the City of Los Angeles Office of Historic Resources. Elysian Heights puts you in the center of everything that makes Echo Park one of the most sought-after neighborhoods in Los Angeles. Walk to Elysian Heights Elementary Arts Magnet, grab coffee at Canyon Coffee or Valerie Echo Park, and enjoy neighborhood staples like Cookbook, Bacetti Trattoria, and Lady Byrd Cafe. Sunset Boulevard is just minutes away with its endless dining, arts, and nightlife. Echo Park Lake, Dodger Stadium, and local hiking trails are all at your doorstep, and the 101 and 2 freeways provide easy access across the city. Historical designation adds both character and long-term value protection. This is a rare opportunity to anchor yourself in a neighborhood where properties like this rarely come to market. Water/sewer is submetered and pid by tenant. Tenants pay their own electric/gas and are separately metered. Please do not disturb occupants. Call your Realtor today to schedule a tour and make an offer.
No exterior & parking available.
Grades K-6 • 0.1 mi
Grades K-6 • 0.5 mi
Grades K-6 • 0.7 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 0.0 | 50% |
| Baths | 0.0 | 0.0 | 50% |
| Square foot | 2,480 | 2,244 | 57% |
| Lot Size | 4,046 | 4,687 | 14% |
| Price | $1.25M | $1.14M | 71% |
| Price per sq ft | $504 | $485 | 57% |
| Built year | 1920 | 1922 | 36% |
| HOA | $0 | $0 | 50% |
| Days on market | 23 | 181 | 7% |
May 14, 2026
$1,249,000
Initial Listing
Apr 29, 2022
$1,255,500
Public Record