Lake Shore Ave Bungalow
Located in the Elysian Heights neighborhood, within the district of Echo Park—this quintessential 1937 bungalow is a unique capsule of history sitting at the intersection of one of the steepest, and most iconic thoroughfares of early twentieth century Los Angeles.
The scope of work—which evolved over time—called on us to once again help a former client bring some perspective to their investment portfolio. A former acquisition had already proven to be very effective at producing passive income, and our client saw an opportunity to continue this growth trajectory—although on this occasion, in a different city, with the entire purchase hinging on a relocation timeline.
Adding to the challenge was the 2021 real estate market, which saw almost the entire country take part in a bidding frenzy—brought on by a post-pandemic boom, and record low interest rates. The particularly challenging investment economics—with many properties trading 20% above their asking price—further narrowed the focus on tenable structures + land with suitable room for improvement.
Ultimately, we succeeded in sourcing and procuring their charming bungalow in an area that translated well for the family—a laid back and lush hillside that had been home to the counterculture in the early 20th century, and continues to be known for architecturally notable and historic homes such as the Paul Landacre House, the Klock House, the Judd-Atwater bungalows, and Rudolph Schindler’s Southall House. The corner lot—shares only one of its borders with a neighbor, and houses undeveloped land. A rarity in a market which values privacy, land use, and accessibility among all else.
Fast forward to today, and our interiors studio Alta Projects is now underway on a complete redesign and renovation—creating an environment which can continue to serve as a primary residence, while evolving towards use as a highly marketable, luxury short term rental property. The redesign hopes to encapsulate the Elysian spirit; elevated, yet unpretentious. Relaxed and refined in its everyday form. Firmly planted in the Californian dream, with everyday bringing to light to a life well lived, and with great intention.
Price
$1,300,000
Location
2056 Lake Shore Avenue Los Angeles, CA
Details
2 Bed, 1 Bath
973 SF Single Family Residence
