Listed by Avison Young - West Los Angeles, Avison Young - New York
Unpriced
The Echo Park Portfolio
Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 144,429
Units 224
NOI $4,102,685
Occupancy 88%
Tenancy Multi
Class A
Year Built 2022
Buildings 3
Lot Size (SqFt) 1.28
Parking Spaces 224 spaces
Parking Per SqFt 1.55
Investment Type Stabilized
Sale Condition For sale by owner
Multifamily | 224 Units
Marketing description
Avison Young's Capital Markets Group is pleased to exclusively present The Echo Park Portfolio: a rare opportunity to acquire a portfolio of three newly constructed, Class A multifamily assets totaling 190 units in one of Los Angeles' most recognizable cultural districts with a rare mix of urban energy and neighborhood intimacy. The Portfolio comprises Park (60 units, delivered 2024), Vista (60 units, delivered 2024), and Zag (70 units, delivered 2022).
Investment highlights
- Vancouver-based developer with 35+ years of experience and multiple UDI and CHBA Georgie Award recognitions for residential design
- With pride of ownership, the portfolio was built with condo quality finishes to keep, not sell. The buildings include rooftop amenity decks, state-of-the-art gyms, Café series appliances, sound-attenuating windows, and full size in-unit washer/dryers
- All three rooftops are beautifully appointed and offer unobstructed views of the Hollywood Sign, Dodger Stadium, and the Downtown LA skyline
- Limited local operational experience coming from Vancouver to Los Angeles has led to in-place leases at ~4% below market
- An experienced incoming owner/operator benefits from a well located, institutionally designed portfolio with immediate occupancy and rent growth upside
- Park & Vista sits directly across from the 10 acre Vista Hermosa Natural Park; Zag is an 11-minute walk to Dodger Stadium and a 15 minute walk to the future 116 acre Silver Lake Reservoir park
- Direct freeway access via the 101, 110, 5, 10, and 2 to the desirable employment hubs of Downtown LA, Hollywood, Arts District, Mid-Wilshire, and Burbank/Glendale, all 20 minutes or less
- Renter demographic skews heavily toward tech, media, entertainment, and design professionals - the highest-demand cohort in the LA multifamily market
- Surrounding housing stock is predominantly 1920s–1960s vintage
- Supply barriers include steep topography, fragmented parcels, and an arduous entitlement process
- Opportunity to acquire Class A construction, nearly stabilized portfolio, at a material discount to replacement cost
- In-place rents at the Portfolio reflect lease-up pricing, not market ceiling
- Echo Park remains affordably priced relative to Silver Lake and other nearby neighborhoods, with demonstrated upward rent trajectory as the neighborhood continues to mature
- The convergence of below stabilized in-place rents, a non-RSO structure, and a supply constrained submarket supports a durable, multi-year rent growth outlook
Listing Contacts
Listed by Avison Young - West Los Angeles, Avison Young - New York
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Loan Amount
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Annual Cash Flow
$4,102,685.00
$341,890.42/mo
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