Echo Park Via Park Encino

Echo Park Via Park Encino

I call it the “perfect short sale storm. ” A Buyer calls saying she’s in the market to buy, we preview numerous properties within her parameters, and — lo and behold! — we find the perfect condo community in Encino.  Yes, that’s a neighborhood located very northwest of Echo Park and in the San Fernando Valley.  The 2+2 penthouse unit, with loft, shares no common walls and has its own private rooftop patio.  To my client’s fancy, it also has 4 spacious closets.

After waiting months, an all-cash Buyer walked away when short sale approval was imminent with Bank of America.  Our offer was rewritten to replace theirs.  3 backup offers waited in line behind us.  After additional months of waiting for our approval, we closed escrow late March.

5325 Newcastle Avenue #302, Encino

Sold Price: $238,000 for 2+2 in 1,137 sq. ft.  The previous owner purchased the condo for $410,000 in 2005.

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