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Mayor Eric Garcetti picks up an investment property in Mid-Wilshire

Mayor Eric Garcetti picks up an investment property in Mid-Wilshire
Mayor Eric Garcetti has paid $1.6 million for an investment property in the Mid-Wilshire area of Los Angeles. (Realtor.com | Inset: Los Angeles Times)

Mayor Eric Garcetti and his wife, Amy Wakeland, have bought a home in the Mid-Wilshire area of Los Angeles for $1.6 million and put it up for lease at $5,000 a month.

Set up from the street on a corner lot, the home centers on an English Country-style main house built in 1939. Two separate apartments and a two-car garage also reside on the property.

The recently renovated main house has a classic yet contemporary look. White-walled interiors include a formal living room with rolled ceilings and a decorative blue-tiled fireplace, and an updated kitchen with a colorful backsplash. A dining room sits off the kitchen area.

Large picture windows brighten the master suite, one of three bedrooms and two bathrooms.
Outdoors, there’s a wood deck and enclosed garden.
The two apartments were recently remodeled and have wood floors, updated appliances and a separate garage. Each unit is listed for lease at $2,000 a month.
The property came to market in March for $1.549 million and sold for $51,000 over the asking price.
Diane Evans of Sotheby’s International Realty was the listing agent. Jacqueline Tager, also of Sotheby’s, represented the buyers in the sale. Tager also holds the rental listings.
Garcetti, 45, took office in the summer of 2013, becoming L.A.’s 42nd mayor. He previously served as president of the Los Angeles City Council from 2006 to 2012.

Last month, Garcetti and Wakeland sold their house in the Echo Park area for $1.705 million -- $55,000 above the asking price. The couple currently reside in Windsor Square at the Getty House, the official residence for the mayor of L.A.

Twitter: @NJLeitereg

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