LOS ANGELES-Hendricks-Berkadia has completed the sale of Echo Ten Thirty Lofts, a Platinum LEED-certified building located at 1030 North Alvarado Street in Echo Park.
The 20-unit, live-work community sold for $9 million,which reflects a cost of $450,000 per unit or $328 per square foot for the entire property.
The property also includes three ground-floor retail spaces, all of which are occupied by a single, high-end retailer. Built in 2010, the loft-style community is a five-story, mixed-use, elevator-equipped building that offers dramatic, open floor plans with incredible 360 degree views from the rooftop deck. The average unit size is over 1,100 square feet and the average rent is approximately $2.25 per square foot. The building was 100% occupied at the time of the sale.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
