With only a little more than 1,000-square feet of living space, the two-bedroom cottage at 1616 Cerro Gordo Street in Echo Park is not much bigger than a three-car McMansion garage. In fact, the 102-year-old house in the Elysian Heights section does not even have a garage No matter. Only 10 days after going up for sale at an asking of $595, 000 in early May, the house went into escrow in only 10 days after receiving six offers, two of them all-cash, reports listing agent Judy Oroshnik. The winning buyer – one of the all-cash bidders - paid $10,000 over the asking price and closed on the property near the end of June. At $587 a square-foot, the price – based on square footage – was among the highest paid for an Echo Park house in recent years, Oroshnik said in an email. “The market this spring has been a wild ride,” she said.
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