Yes, both Koreatown and Echo Park are in demand for renters currently...these are the latest hipster areas, with hot new restaurants, bars and shops. BUT...your search needs to be driven first by your budget, and then by your agenda. Are you looking for a solid building with strong rents that you will buy and hold? Are you looking for a building with average rents, but upside for the future? Are you looking for a fixer or a distressed situation (REO, short sale)? What kind of return do you want on your money? What is your down payment amount? Do you want to live in one of the units? Or is this only for investment purposes?
The answers to these questions will help you and your agent to focus on the areas that will fulfill your needs.
If you need a hand, feel free to contact me directly.
Keller Williams Realty