Property Q&A in Echo Park>Question Details

Roger Stone, Other/Just Looking in Echo Park, Los Angeles...

I own a trust deed (lender) on 1514 W. Duene ave (ap 5420-032-007). not sure how much it is worth. Does anyone know what the market value is?

Asked by Roger Stone, Echo Park, Los Angeles, CA Sat Feb 12, 2011

I think the lot is about 4,000 ft.

Help the community by answering this question:


Mr. Stone!
Yes Echo Park is the new it, but I pulled up info and it came up as vacate land! I am familiar with the area born and raised there! To find out the value would depend if you built it out or left it vacant land? I have some investors that might be willing to go half with you on the built out and split the profits with you. Well I hope this info help and if you should have any questions call me. Stan
0 votes Thank Flag Link Mon Feb 14, 2011
The Echo Park area has become the newest "it" neighborhood on the east side of LA, and this particular plot on Duane, between Echo Park Blvd. and Avon is in a great area. Duane dead ends just east of Echo Park Blvd., so I think that your plot might be accessed from Avon, but I need to view. The corner lot (with the bicycle shop) was sold earlier this year, as were the two small homes on the south side of Duane, just east of the bicycle shop. This area is hot, and very in demand.

To determine the value, I'd have to do a bit more research and check the city records for all access and building info. If you'd like me to work on this, give me a call. I'm happy to help. Good luck!
Jayne Clement
Keller Williams Realty
ePro, Short Sale Specialist
Cell) 213/309-5005
Fax) 866-214-5513
0 votes Thank Flag Link Mon Feb 14, 2011
Hi Roger,
There are a lot of variables to come up with a price, such as condition of property, any upgrades, views, has the plumbing and electrical been updated and so on.
Please call me if you are interested in really finding out the market value of your parcel. If you have any further questions my office is in Los Feliz which is a skip away from Echo Park.
Nick mercado
Keller williams Realty
0 votes Thank Flag Link Sun Feb 13, 2011
Hi Roger,

I've recently been dealing with two buyers looking to purchase land in Echo Park. You're particular plot could be anywhere from $90,000.00 to $150,000.00. It depends on site location, views--slope, etc. Echo Park is becoming very popular among those who wish ot build a new. As you might know, there are a lot of great new homes in certain sections of neighborhood.
by the way, when I entered your APN into the MLS, it says the property measures greater than 6000 square feet..
i'd be very intereested in talking to you about this piece of land. If you you have time, please call me at 323-219-4480. My name is Lynn Le Glaire and I'm a keller Williams Realtor at the Larchmont office. .

Looking forward to heariing from you--Lynn
0 votes Thank Flag Link Sun Feb 13, 2011
it depends... is it distressed? is there an NOD? Is there a BK? does it show well? Are there any zoning, or tenant violations?
Do you want to sell it in 30 days or less? Does it qualify for buyer financing? or Are you willing to upgrade it?

Also if you are in 2nd lien.. is the first in arrears? how much? Just because you own the note does not mean you have title to the property... just because you have title does not mean you have possession and vice-versa...

There are no simple answers... but you can get an idea by looking at comps in Trulia and other similar sites.
Web Reference:
0 votes Thank Flag Link Sun Feb 13, 2011
Hi Roger,

I would be glad to email you a report on some comparable properties in the area to give you an idea of the market value. Also, if you can provide a bit more information about the property condition, it would help give a more accurate determination of value. Feel free to shoot me an email if you would like some help - I know this market quite well & would be glad to assist you.

Have a nice evening...

John Barry
DRE #01856079
Coldwell Banker Residential Brokerage
Cell: 323-810-7976
Twitter: @RealtorJB
0 votes Thank Flag Link Sat Feb 12, 2011
Hi Roger,
I can e-mail you comparable sales if you would like to e-mail me your contact information. You can also call me at 818.522.0660 or check similar properties in my website. I work in Glendale/ Echo Park area and know prices very well.

Ripsi Yepremyan
Dilbeck Realtors
Tel. 818.522.0660
DRE #01488880
0 votes Thank Flag Link Sat Feb 12, 2011
In order to get you a value the investor need to know:

1. the interest rate?
2. loan amount?
3. terms?
4. payment history?
5. when that loan was created?
6. the property value?
7. is that a First TD?
8. If it is a Sceond, how big is the first ?and rate and terms on the first

Also need to see copy of the note

The above data are important to evaluate your note.

Eco Park is a good area to invest in.


818 430-2606
0 votes Thank Flag Link Sat Feb 12, 2011
Hello Roger,

I know the area quite well. In order to give you a price I would need to know the condition and any upgrades that have been done. Give me a call when you have a moment. Also, does it have a view?


Monique Carrabba
The Carrabba Group
Keller Williams Sunset
(323) 899-2900
0 votes Thank Flag Link Sat Feb 12, 2011
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