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70 Little $500k Houses Slated For Echo Park/Silver Lake Border

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From Eastsider LA comes word that developer Trumark is about to break ground on a 70-unit development on the Echo Park/Silver Lake border--the project will straddle both sides of Clifford Street, and offer a lovely view of the southern end of the 2 Freeway. Trumark bought the property for roughly $12 million at the end of last year, a few months after the city approved the development. The northern half of the property had previously been entitled for 67 condos, but the project is now being built under the auspices of the Small Lot Subdivision Ordinance, which allows for a bunch of freestanding houses to be smooshed together on a bunch of little, adjacent lots. Work is expected to get underway in the next month or two, with the first units opening in early 2014. The two- and three-bedroom, three-story houses will range from 1,200 to 1,500 square feet and are expected to sell for $500,000 to 600,000. Or at the rate things are going this year, about $1 million. (Kidding! We hope.)
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