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REDUCED $525K | 8 Units on ±16K SF Land 1513-1515 Colorado Blvd 8 Unit Apartment Building $2,512,656 CAD ($314,082 CAD/Unit) 5.90% Cap Rate Los Angeles, CA 90041
INVESTMENT HIGHLIGHTS
- Eric Dilanian & Patrick Dilanian are Pleased to Present for Sale a Rare Multi-family/Commercial Property with ADU and Development Potential
- Building/ Lot SF: 1515 Colorado: ± 6,388 SF on a ± 9,512 SF Lot & 1513: 400 SF Garage on ±6,370 SF Lot
- Located on famous Colorado Blvd, just steps away from Trader Joes, Cindy’s, Found Coffee, and within minutes to Eagle Rock favorites
- (7) Unit 1963 Built Apartment + 1 CRE Unit with a Robust Unit Mix of 100% 2 Bedroom Units Sprawled across ±16k SF of Land | DOUBLE LOT
- Zoning: 1515 Colorado: (Q) C4-2D & R1-1 Tier 4 TOC; 1513 Colorado: (Q)C4-2D
- Walk Score: of 85 (“Very Walkable”) where most errands can be accomplished on foot
EXECUTIVE SUMMARY
** PRICE REDUCED BY $525,000 ** Eric Dilanian & Patrick Dilanian of RE/MAX Commercial & Investment Realty are proud to present an exceptional investment opportunity in Prime Eagle Rock: 1513 & 1515 Colorado Blvd | Double Lot!
A rare 7-unit apartment + 1 commercial unit on 2 separate parcels sprawled across ±15,882 Square Feet of Land located in the highly sought-after neighborhood of Eagle Rock – on famous Colorado Blvd. The property is being offered for sale by the original developer’s family and is poised for multiple ADU additions on one lot, and residential development potential on the second lot, with both lots designated in Tier 4 TOC – Buyer to Verify. The property consist of 3 separate structures across both lots: a (7) Unit Mid-Century Building built in 1963 boasting an incredible unit mix of 100% Two Bedroom & 1 Bathroom units and a commercial space built in 1924 with a total square footage of ±6,388 SF and a ± 400 SF Covered Garage. 1513 Colorado is zoned (Q) C4-2D, and 1515 Colorado is zoned both (Q) C4-2D & R1-1 – both Lots are Tier 4 TOC. Q Condition: 100% residential development prohibited, Residential Density Limited to RD1.5 Zone, Subject to the provisions of the Colorado Blvd Corridor Specific Plan. Strategically located in the heart of Eagle Rock, this property boasts a Walk Score of 85 (“Very Walkable”), where most errands can be completed on foot. It’s just steps away from Trader Joes, Cindy’s, Found Coffee, and within minutes to Eagle Rock favorites: Casa Bianca Pizza, Eagle Rock Italian Bakery, Little Beast, and The Oinkster, Capri Club & Walt’s Bar.
**Disclosure:** Buyers are advised to conduct thorough due diligence, including verification of building square footage, unit count, lot size, legal bedroom/bathroom count, parking count, unit mix, year built, zoning & Q Condition, market rents, soft-story compliance, and the feasibility of constructing ADUs, additional units, and/or development feasibly
A rare 7-unit apartment + 1 commercial unit on 2 separate parcels sprawled across ±15,882 Square Feet of Land located in the highly sought-after neighborhood of Eagle Rock – on famous Colorado Blvd. The property is being offered for sale by the original developer’s family and is poised for multiple ADU additions on one lot, and residential development potential on the second lot, with both lots designated in Tier 4 TOC – Buyer to Verify. The property consist of 3 separate structures across both lots: a (7) Unit Mid-Century Building built in 1963 boasting an incredible unit mix of 100% Two Bedroom & 1 Bathroom units and a commercial space built in 1924 with a total square footage of ±6,388 SF and a ± 400 SF Covered Garage. 1513 Colorado is zoned (Q) C4-2D, and 1515 Colorado is zoned both (Q) C4-2D & R1-1 – both Lots are Tier 4 TOC. Q Condition: 100% residential development prohibited, Residential Density Limited to RD1.5 Zone, Subject to the provisions of the Colorado Blvd Corridor Specific Plan. Strategically located in the heart of Eagle Rock, this property boasts a Walk Score of 85 (“Very Walkable”), where most errands can be completed on foot. It’s just steps away from Trader Joes, Cindy’s, Found Coffee, and within minutes to Eagle Rock favorites: Casa Bianca Pizza, Eagle Rock Italian Bakery, Little Beast, and The Oinkster, Capri Club & Walt’s Bar.
**Disclosure:** Buyers are advised to conduct thorough due diligence, including verification of building square footage, unit count, lot size, legal bedroom/bathroom count, parking count, unit mix, year built, zoning & Q Condition, market rents, soft-story compliance, and the feasibility of constructing ADUs, additional units, and/or development feasibly
PROPERTY FACTS
| Price | $2,512,656 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $314,082 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.36 AC |
| Cap Rate | 5.90% | Building Size | 6,388 SF |
| Gross Rent Multiplier | 10.75 | No. Stories | 2 |
| No. Units | 8 | Year Built | 1963 |
| Property Type | Multifamily | Parking Ratio | 1.14/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | (Q)C4-2D & R1-1 | ||
| Price | $2,512,656 CAD |
| Price Per Unit | $314,082 CAD |
| Sale Type | Investment |
| Cap Rate | 5.90% |
| Gross Rent Multiplier | 10.75 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.36 AC |
| Building Size | 6,388 SF |
| No. Stories | 2 |
| Year Built | 1963 |
| Parking Ratio | 1.14/1,000 SF |
| Zoning | (Q)C4-2D & R1-1 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 7 | - | - |
| Studios | 1 | - | - |
1 1
Walk Score®
Very Walkable (85)
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $778,522 CAD | |
| Land Assessment | $563,746 CAD | Total Assessment | $1,342,268 CAD |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$563,746 CAD
Improvements Assessment
$778,522 CAD
Total Assessment
$1,342,268 CAD
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REDUCED $525K | 8 Units on ±16K SF Land | 1513-1515 Colorado Blvd
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