Ghetto Unfabulous in Echo Park

Want to be an instant contender for next year's Smallest Coolest Apartment Contest? How about this micro-residence in Echo Park...all 335 square feet of spacious Los Angeles living, all for the going market price of....$295,000?! Mind you, in 1996 this place was sold for $29,000, so unless this was renovated with iced out fixtures, a secret underground 1000 sq. ft. rumpus room, and a rooftop patio, we're calling this the real estate rip-off the month, and an indicator we may need The Big One to shake out this real estate market free from this sort of nonsense. [via Curbed LA]

Comments (10)

295K for a 335 sq feet place...this is what makes me hate living in LA sometimes. In fact, it makes me want to cry. Anyone have a tissue?

I must be insane from living here too long because initially I thought wow what a steal -I could actually own that.

Thats more for what I paid for my 2000sf house.

That's the price of a very nice brick building here.

I love how on the broker's page they call it a pied-Ã -terre, as if that makes it too cute to pass up.

I too anxiously await the next big one!

I'm not suggesting that $295,000 is a great price for a space smaller than my living room----BUT who is faulting anyone for finding signed Stickley chairs in the late 70's, then selling them for many times the purchase price only a decade later, or any other "steal" we may encounter. Real estate prices are artificial, based on what the market bears, and if someone wants to pay that much for a pied a terre (does it come with the garage?), so be it. Maybe it's really beautiful inside...maybe it looks like a room over a garage.

It's true, it's what the market will bear. Fortunately or unfortunately, depending on your outlook, there are no ethics in the real estate marketplace.

M

I'd never claim that the real estate marketplace could boast of ethics! And I can't imagine being drawn to buy something like this place in Echo Park.

Its absurd that the neighborhoods that became trendy for the very reason that they were cheap to live in have now become more expensive than nice areas. Everyone wants their piece of the hipster pie, it seems. Never mind that there are still many of the bad elements in these neighborhoods that made them cheap to begin with.

For a little more than this price you can buy a much bigger one bedroom condo in a beautiful, low crime neighborhood in west LA.