ECHO PARK AVENUELOS ANGELES, CA 90026

1316

SUBJECT PROPERTY

ECHO PARK AVENUE SUNSET BOULEVARD

Echo Park

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Marcus & Millichap has been selected to exclusively market 1316 Echo Park Avenue, ideally located one parcel north of the northeast signal-ized corner of Echo Park Avenue and Sunset Boulevard in the heart of Echo Park.

The offering consists of a ~6,840 square foot building situated on a ~9,000 square foot lot zoned C2 (Tier 3 TOC). With 60 feet of frontage along Echo Park Avenue, the property benefits from excellent walk-ability, high traffic counts (over 45,000 CPD at the intersection of Echo Park Ave. & Sunset Blvd.), and strong demographics (nearly 1.2 million people within 5 miles).

1316 Echo Park Avenue is walking distance from the most popular dining, retail, and nightlife destinations in the area, offering an investor the unique opportunity to redevelop this ideal “main-on-main” location within one of the most sought after Los Angeles submarkets. Much of the neighborhood’s growth can be attributed to its central location, offering easy access to Downtown LA, Silver Lake, Koreatown, and Chinatown. Echo Park continues to attract young adults and creative professionals, resulting in continued rent growth and ongoing devel-opment.

Please contact broker for more information regarding the current tenant and recent fire damage on the property.

Address 1316 Echo Park Avenue, Los Angeles, CA 90026

Asking Price: Submit Best Offer

Building Size: 6,840 SF

Land Size: 9,000 SF

Zoning: [Q]C2-1VL

TOC Tier 3

Frontage on Echo Park Avenue 60 feet

PROPERTY INFORMATION

INVESTMENT HIGHLIGHTS

• Rare Redevelopment Opportunity in the Heart of Echo Park

• 9,000 Square Foot Lot Zoned C2 / Tier 3 TOC

• “Main On Main” Location – Walking Distance to the Areas Most Popular Restaurants, Bars, and Retailers

• Easy Access to Downtown LA, Silver Lake, Koreatown, Chinatown

Executive Summary

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Hey HeySunday’s Best Vintage

Honey Hi

Sage Bistro

Baby Blues BBQ

Vanilla Black

El Prado/Happy Toms

Sticky Rice

Mohawk Bend

Mohawk CollectiveTaix French BistroFuture Redevelopment

Gold Room

Vons/Rite Aid

The Holloway

Walgreens/Lassens

ECHO PARK AVENUE

SUNSET BOULEVARD

Dinette

Senor Fish

Stories/Masa/The Echo

Lowboy

Semi Tropic

Vons/Rite Aid

A Walker’s Paradise...(FACING WEST)

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Bank of America

Gold Room

Dinette

Lowboy

AdamaeWoodcat Coffee

Love and Lace Briddal

Sunset Beer

Ostrich Farm

Little Joy Cocktails

The Short Stop

Konbi

Hey Hey

Rock Paper Salon

The Holloway

Brick Works Redevelopment

Button Mash Tsubaki

Eightfold Coffee

SUNSET BOULEVARD

ECHO PARK AVENUE

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A Varity of Retail Options...(FACING EAST)

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ADDRESS1316 Echo Park Avenue, Los Angeles, CA 90026

SITEThe subject property is located just north of the northeast corner of Echo Park Avenue and Sunset Boulevard.

SQUARE FOOTAGESThe existing structure is approx. 6,840 square-feet. The total lot size is 9,000 square-feet.

FRONTAGE60 feet on Echo Park Avenue

TRAFFIC COUNTSOver 45,000 Cars Per Day at the Intersection of Sunset Blvd. & Echo Park Ave.

ZONING[Q]C2-1VL

POPULATION~1.18 Million People Within 5 Miles

Property Information

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DTLA

DODGER STADIUM

Bank of America

Gold Room

Lowboy

Woodcat CoffeeOstrich Farm

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Echo Park is a neighborhood of Los Angeles, California, just north of Downtown, not far from Silverlake. The largely residential neighborhood is perhaps the closest suburb to Downtown, offering tree-lined living with a Main Street of its own, all the while being in close proximity to thriving, cultural, and job-rich Downtown. Echo Park is walkable, bikable and has public transpor-tation. In a time of clogged freeways, the surface-road commute to Downtown takes approximately 10 minutes by car and 20 minutes via the express bus (the bus stop at the corner is less than 4 minutes walking distance from the site).

Echo Park has a character and life of its own. Its lingering counter-culture mixes easily with the newer growth-spurts of gen-trification. It attracts a mix of artists, writers, musicians and new-media workaholics. Full-scale building murals and galleries showcase the local artistry. Everybody convenes at cafés, restaurants and Lassens, just across the street. The website Goop recently rated Echo Park high on its “Los Angeles Hipster Guide.” The neighborhood vibrates with an energy that attracts pro-fessionals, hipsters, and every variety of well paid Angelenos.

The walk-score is high—90/100—with restaurants, nightlife, shops, eateries, and gyms along LA’s legendary Sunset Boulevard. Also in walking distance is Echo Park Lake, which has become a central attraction for visitors and locals alike since undergo-ing a major rehabilitation; you can paddle a boat from morning to sunset. Originally designed in the 1890’s in a picturesque English style, the park brims with Echo Park’s rich cross section of humanity, everyone picnicking, jogging, speed walking, boating or just noshing lakeside at Beacon’s.

Echo Park is one of the oldest neighborhoods in Los Angeles, with the charm and architecture to prove it. With a mix of Victo-rian and craftsman homes, as well as the Atwater bungalows, the architecture is an architectural repository recalling different eras. Location scouts regularly troll the streets for period movies. In the early 1900’s, Echo Park was the mecca of the silent film industry, with many early comedians such as Charlie Chaplin coming to film at Keystone Studios on Glendale Boulevard. The area is also home to iconic venues such as the Dodger Stadium and The Echo & Echoplex. Opened in 1962 and perched above the city, Dodger Stadium draws crowds for baseball and concerts.

Area OverviewECHO PARK

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67.5K2016 POPULATION

30MEDIAN AGE

76%OF RESIDENTS RENT

90A WALKER’S PARADISE

637KMEDIAN PROPERTY VALUE

$77,195AVG HH INCOME IN 1 MILE RADIUS

Demographics

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Dodger Stadium

Downtown LA

Alexan South Echo

Echo Park Lake

Chinatown

147 Unit Redevelopment

Sunset Everett Redevelopment

1111 Sunset Redevelopment

Area Overview

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Dodger Stadium is the home field of Major League Baseball's Los Angeles Dodgers. Opened 57 years ago on April 10, 1962, it was constructed in less than three years at a cost of US$23 million. It is the oldest ballpark in MLB west of the Mississippi River, and third-oldest overall, after Fenway Park in Boston (1912) and Wrig-ley Field in Chicago (1914), and is the world's largest baseball stadium by seat capacity.

Echo Park Lake is one of Los Angeles’ historic landmarks. The lake was originally built in the 1860s as a reservoir for drinking water.

It later became a detention basin in the city’s storm drain system, while providing recreational benefits and a wildlife habitat. The city closed the lake in 2011 for a $45 million rehabilitation project funded by Prop O, which was approved by voters in 2004.

The upgraded lake featured water fountains, fresh grass and the addition of a variety of native plants.

DODGER STADIUM

ECHO PARK LAKE

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SUBJECT PROPERTY

ECHO PARK AVENUE SUNSET BOULEVARD

ANDREW LEFFSenior Associate

Tel: (818) 212-2815Fax: (818) 212-2710

andrew.leff@marcusmillichap.comLicense: CA: 01865688

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