Lago Vista Condos in Echo Park
This is a real estate market activity report for the Lago Vista condominium complex in the Echo Park neighborhood in the city of Los Angeles.
This report will include information regarding a unit that has just come on the market for sale(not my listing) as well as closed sales information dating to 2011. Statistical information in this report have been gathered from our local multiple listing service(mls) and may not include all sales activity in the complex.
Yes, this a condominium market report but it really is much more than that. Are you interested in unique architecture? Do you love an incredible view? Does a hip urban vibe make sense for you?
If so, Lago Vista condos in Echo Park may be the right choice for you.
The unique design by Allyn E. Morris curves along a bluff not far from Downtown Los Angeles and overlooking the renovated Echo Park Lake.
Open air and curving hallways on multiple levels make an architectural statement that can be described as strong, bold, impressive and unabashedly modern.
There are 48 units in both single and two level floor plans that range in approximate square footage from just over 700 to nearly 900. Despite the size, the units I have seen over the years rarely feel small but almost expansive because of how many of the residents have learned to creatively imagine the open design as well as incorporating indoor and outdoor spaces. While the units were built as two bedrooms and one bath - there have been a few who have modified their units to just one bedroom. Some units have a small bonus area that has been created. This is definitely not a cookie cutter complex.
Built in 1973, the gated community at 1701 Clinton Street features lush landscaping, covered and open parking areas including some for visitors - a rarity in many urban locations, a beautiful pool and lounge area, community laundry facilities - although some units 
have installed washer-dryer connections plus a dog park just for residents of the complex. And, of course, there are the views. Most units have incredible blufftop views of the park and lake and some even of the Downtown Los Angeles skyline. It’s really that close.
Now about the location. Often called one of the hippest places in Los Angeles, the neighborhood is a neighborhood and in my opinion - that’s a good thing but there’s a definite urban vibe. It may not be for you and then again it may be just the right fit. Exceptional dining and interesting shopping is convenient too. And as far as easy accessibility to other points in the city of Angels(and beyond) there are four freeways nearby although if Downtown is your destination -- there’s no really no need to use a freeway.
There is currently one Lago Vista condo available for sale. Newly listed, showings begin this week according to the listing agent for this one level two bedroom floor plan with approximately 824 square feet. Reportedly the first time on the market in 25 years, it is offered at $559,000. There have been no mls-reported closed transactions so far in 2016.
In 2015, there were two closed sales reported. In July, a two story unit with approximately 843 square feet sold for $567,000(list price $499,900). September saw a sale of a unit with about 834 square feet that sold for $450,000(list price $415,000).
For full year 2014, there were five mls-reported closed transactions ranging in sales prices from $369,000 to $480,000 with an average sales price of $441,600(median sales price $450,000). Each sold at or above its list price and at an average of $535.85 per square foot and at 101.52% of last list price.
In 2013, there were three sales for the year ranging from $370,000 to $415,000 with an average price of $386,600(median sales price $374,800). They sold at 98.05% of last list price and for $476.21 per square foot on average.
There were two sales reported in 2012. An all cash transaction in July reflected a price of $340,000(list $369,000) and another in July(sale price $327,000, list $349,900) was financed.
In 2011, there were also two transactions. Both closed in April and sold for $345,000 and $395,000.
Would you like additional information regarding Lago Vista or any type of unique real estate in the Pasadena, West San Gabriel Valley, NELA/NorthEast Los Angeles or DTLA/Downtown Los Angeles adjacent communities? Let’s discuss what is important to you. I can be reached at 818.516.4393 cell
Published: April 24, 2016
Lago Vista Condos in Echo Park
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