July 24, 2008

Starter Homes Under $550 in Silver Lake, Atwater and Echo Park

I recently had a reader ask about starter homes on the eastside - where are they and are they affordable? Well, as some of the listing below show, you can pick up a home for under $550 that a few years ago was selling in the $700,000 range. The listings below are some of the better ones in this price range. Most are on the small side, between a tight 700 square feet, up to about 1,200. They are also not in the prime areas of Silver Lake or Echo Park, but I picked places that are also not in bad areas. If you’re really in the market for a starter home, these are some good ones to check out just to get an idea of what’s out there. Here you go - next up, I’ll tackle Eagle Rock and Downtown.

• In Atwater, here’s a cute 2/1 Tudor that has languished on the market for 169 days. It’s listed at $549,000.
• This cute Spanish 2/1 is also in Atwater Village, on the other side of Glendale Blvd. (the Los Feliz Blvd. side) It’s listed at $499,000 and been on the market about a month.
• In Silver Lake - Echo Park (on Lemoyne), here’s a 1938 traditional that looks like a short sale. It’s listed at $499,000, but the last sale was for $558,000 and in 2007 it sold for $773,000. No joke.
• Not far away in Echo Park is this charming cabin-y, condo-alternative-type place for $484,500.
• Here’s a “bank says sell!” 2/2 in Silver Lake for $499,900. It last sold in 2007 for $587, 650.