The International Church of the Foursquare Gospel, founded by evangelist Aimee Semple McPherson in 1923, put 14 of its properties in Echo Park up for sale last month.

Lee Black, executive managing director at DTZ/Cassidy Turley’s downtown office, is representing the church and said Foursquare hopes to find a single buyer, but is entertaining all offers. He said that he has been overwhelmed with interest in the first two weeks and expects offers in excess of $20 million.

The church has listed eight multifamily properties totaling 61 units, two single-family homes, three land parcels and one warehouse building, all of which are in close proximity to Echo Park Lake.

Michael Soto, research manager in the downtown office of real estate services firm Transwestern said he expects each property individually will sell for at least $1 million. The average sale price for a multifamily property in Echo Park is $1.8 million, according to CoStar.

The three plots of land in the portfolio total 33,449 square feet, which Black said opens a lot of possibilities for development in the area.

The church will not be selling all of its property in Echo Park. It will be holding on to the tallest building in the neighborhood, the eight-story Citibank office building at 1900 Sunset Blvd., which serves as its headquarters, and the Angelus Temple at 1100 Glendale Blvd.

“The church has identified properties that don’t fulfill a component of the overall mission of the church,” Black said. “Selling these properties will allow the church’s board of directors to steer the assets toward the church’s primary mission.”

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