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Oct 26, 2015 7:07 AM ET

Archived: Echo Park Acquisition: 1106 Echo Park Avenue, Los Angeles, California

iCrowdNewswire - Oct 26, 2015

Echo Park Acquisition

Investment Summary

This is a prefunded purchase only opportunity for a Single Family Residential property in California. The subject property address is 1106 Echo Park Avenue, Los Angeles, California.

The borrower is requesting a loan of $709,000 in order to purchase the underlying property. The property was purchased for a total of $945,000 in October of 2015. The borrower will receive 1 draw(s) totaling $709,000 at closing of the underlying loan. The borrower plans to perform some minor renovations on their own and refinance in one year or under.

1106 Echo Park Avenue

  • Purchase Price: $945,000
  • As-Is Value: $945,000

An independent third party appraisal shows an As-Is Value of $945,000 for 1106 Echo Park Avenue. The LTV ratio is 75.03% and is in line with the data we found during our due diligence process. Our research shows the residential market surrounding the underlying property in this area of Los Angeles is stable with supply and demand in balance.

Property Overview

1106 Echo Park Avenue was built in 1911, located in the suburban neighborhood of Los Angeles, California. The property has 6 rooms including 4 bedrooms and 2 bathrooms, with a gross living area of 1,941 sq. ft. on a 6,009 sq. ft. lot. The property is near Echo Park Lake, Dodger Stadium, shopping, public parks, and recreation.


1106 Echo Park Avenue

Borrowers will perform some minor renovations on their own.

Contact Information:

Arek Long, LLC

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