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Silver Lake's Waterloo: Condo Turned Rental Turns Condo Again

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Back in January 2008, we noted that Waterloo Town Lofts, a four-unit development located at 1017 Waterloo (off Marathon St at the Silver Lake/Echo Park border) was going rental, asking about $3,500 for 1,500-and 1,600-square foot three-bedrooms. Originally, this was a condo building that was going to sell units between $699,000-$749,000. Now appearing on Redfin: Mr. Waterloo Town Lofts. A two-bedroom, two and a quarter unit that's 1,720 square feet is listed at $625,000. According to the official web site, the development is also advertising recession pricing at $575,000 and up, but it's not clear if that's old info. Seeing this development again is like greeting a lost pet that's returned home after three months. We're a bit timid to ask where this one has been this whole time. But let's hope it was someplace fabulous.
· 1017 N Waterloo St #1 [Redfin]