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$6,140,000
Est. payment /mo
17,466 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 17,466 sqft
Price per Sqft $351
MLS Listing ID CL25498359
HOA Y/N No
Year Built 1990
Lot Size 0.295 Acres
Acres 0.3
Property Sub-Type Other
Property Description
We are pleased to present 3232 W. Avenue 32, a 16 Unit apartment community located in Glassell Park, CA (90065). Constructed in 1990, the property is NOT subject to LA City rent control and is designated by AB 1482 in which the most recent allowable rent increase was 8.8% in 2024.Glassell Park is adjacent to Atwater Village, Eagle Rock and just blocks to both DTLA and Echo Park. The area continues to experience a dramatic and significant shift like what Silver Lake and Echo Park experienced over the past 20 years. Important news for the area is the LA River Master Plan project which is just 1 mile away from the offering. This mammoth, +/- $30 Billion undertaking is poised to alter the face of LA and specifically, Glassell Park, forever. A world-class team, including urban design architect Frank Gehry and international landscape architects Olin, are leading the transform of 51 miles of the LA River into a recreational green oasis. The offering, built in 1990 and encompassing +/-16,128 SF of improvements, features 16 large apartment homes with an exceptional unit composition featuring Ten (10) Large 2 Bedroom-2 Bathroom, Four (4) 2 Bedroom-1.5 Bathroom, One (1) 4 Bedroom-2.5 Bathroom and One (1) 4 Bedroom- 2 bathroom apartment homes encompassing +/-16,128 square feet of improvement
Location
State CA
County Los Angeles
Zoning LARD
Interior
Heating Wall Furnace
Fireplace No
Building
New Construction No
Others
Tax ID 5458014016
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Listed by Adam Zunder • Iconic Investments