A LA Multifamily success story in Los Angeles
4th Highest Sale for Rent-Controlled 4Plex in Echo Park
1611 Donaldson St.
With the sale of 1611 Donaldson, Kenny Stevens Team holds 2 of the top 4 sales for rent-controlled fourplexes in 90026.
Offering Price
$2,741,000
City
Los Angeles
Current CAP
4.90
Price per unit
$685,250
Lot Size
7,201 SF
1611 Donaldson
Offering Price
$2,741,000
Number of Units
4 Units
Bldg. Size
N/A SF
Price per Foot
$N/A
Year Built
N/A
Market CAP
N/A
Zoning
N/A
Background
1611 Donaldson was a turnkey Spanish-style fourplex in a prime Echo Park location near coffee, dining, and scenic Elysian Park hiking trails. Several of the units were meticulously renovated to include luxurious and modern amenities that attracted high-income young professionals and families. Interior amenities included new wood-flooring, updated cabinetry and tile backsplash, recessed lighting, stainless-steel appliances, and so much more.
While KST was the listing agent of 1926 Santa Ynez, a 1031 exchange buyer reached out and expressed interest. However, the property was already non-contingent in escrow, and the buyer was running out of options. With an extensive database and track record with Northeast LA owners, we were confident with our ability to source an off-market deal.
Result
2 weeks later, we reached a Seller who had recently completed extensive renovations and wanted to cash out of a challenging market. Ultimately, we closed escrow in 21 days at $2,741,000. 1611 Donaldson St. is the fourth-highest sale for a rent-controlled fourplex in 90026 (Echo Park/Silver Lake). This sale further solidifies our team’s expertise in “creating a market” and our Northeast LA track record. KST had set the record sale price for properties in this category a year prior – 839 N. Occidental Blvd.
