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    The Largest CRE Database in the US with Over 1 Million Listings

    1515 Echo Park Ave Los Angeles, CA 90026

    Sponsored
    For Sale
    $1,700,000

    MULTI_FAMILY - Los Angeles, CA

    Property size:
    2,651 SF
    Lot size:
    0.14 Acres
    Days on Market:
    21
    Last Refresh:
    Feb 23 at 5:06 pm

    Property Features for 1515 Echo Park Ave

    General Information

    Special listing conditions
    Standard
    Property type
    Residential Multi Family
    Property subtype
    Other
    TransactionType
    Standard
    Standard status
    Active
    Zoning
    LAC2
    Rooms
    Bathroom 4, Bathroom 2, Bedroom 1, Bedroom 3, Bathroom 1, Bedroom 4, Bathroom 3, Bedroom 2, Laundry Room
    Bedrooms
    4
    Bathrooms
    4
    APN
    5419-015-002
    Parking
    4
    Parking features
    Covered, Garage
    Size
    2,651 SF
    Lot size
    0.14 Acres

    Utilities

    Cooling system
    Wall Unit(s)

    Building Details

    Year built
    1904
    Floors in Building
    2
    Number of units
    5
    Flooring type
    Tile, Wood

    We can help!

    Listing Contact
    Max Berger

    Compass

    Listing agent Max Berger (310) 230-5478 License #02054048

    Listing date Feb 3, 2026

    MLS# 25631421

    Copyright © 2026 The MLS/CLAW. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Echo Park Mixed-Use Investment

    Located on Echo Park Avenue, north of Sunset Boulevard, this mixed-use property presents an investment opportunity. The property includes a street-front commercial space, a vacant Craftsman-style single-family residence with 2 bedrooms and 2 bathrooms, an attached studio unit, and a detached rear building with two 1-bedroom units. This layout provides a diversified income profile while maintaining a residential scale that complements the neighborhood. Community laundry facilities and a two-car garage at the rear of the site are among the property's amenities, as well as an outdoor entertainment area suitable for dining and gatherings. The property's location offers walkability in Echo Park, situated approximately 0.3 miles north of Sunset Boulevard, providing close proximity to cafes, restaurants, boutiques, and nightlife. Echo Park Lake is approximately 0.6 miles away, and Dodger Stadium is about 1 mile away. The entrance to Elysian Park is also approximately 0.6 miles from the site, providing access to hiking trails and city views. The property is situated on a lot of 0.14 acres and has a building size of 2,651 square feet. The property is located in Los Angeles, CA, with the zoning LAC2. The property is offered at a 5.82% CAP rate on current rents with approximately 18% rental upside. At projected market rents, the property is expected to stabilize at a 6.84% CAP rate and a 10.27 GRM. Investors can capture additional upside through interior improvements over time.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Los Angeles
    County
    Los Angeles
    State
    California
    Longitude
    -118.255354
    Latitude
    34.080487

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    FAQs

    What type of property is this?
    Mixed-use property - Mixed-use property in walkable Echo Park location.
    Where is this mixed-use property located?
    The property is located at 1515 Echo Park Ave Los Angeles, CA.
    What is the asking price?
    The asking price for this property is $1,700,000.
    What are key features of this property?
    This property features: - Mixed-use property in walkable Echo Park location; - Vacant 2-bedroom Craftsman-style single-family residence - Immediate owner-user or rental income potential; - Diversified income streams from commercial space, studio, and two 1-bedroom units
    (310) 230-5478
    Request Owner's contact information
    1515 Echo Park Ave Los Angeles, CA 90026
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    Los Angeles, CA 90026
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1515 Echo Park Ave Los Angeles, CA 90026
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    We can help!
    Listing Contact
    Max Berger
    Real Estate License ID: 02054048
    (310) 230-5478 (310) 953-4562 (818) 321-4972
    Learn more
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