827 Glendale Blvd
Los Angeles, CA 90026
Boutique Apartments in Echo Park · Immeuble residentiel Propriété À vendre · 6 Unités

Marcus and Millichap is pleased to present Rare opportunity to purchase a relatively new construction, institutional-grade apartment building across from Echo Park. A prospective buyer has the opportunity to purchase an apartment Non-Rso building (Not Subject to RSO), which allows for 5% + CPI annual rent increases. The unique property features a detached, style architectural footprint (zero shared residential walls)asset delivers a commanding, high-demand executive unit mix comprised of one (1) massive 4-Bedroom/3-Bathroom, four (4) expansive 3-Bedroom/2-Bathroom, detached, and one (1) premier 1-Bedroom/1-Bathroom luxury garden Accessory Dwelling Unit (ADU). Originally a ground-floor recreation center, the current ownership has completely finalized the conversion of the recreation space into a fully permitted, legal 970-square-foot luxury ADU, backed by a newly issued municipal Certificate of Occupancy. In LA infill (Silver Lake, Echo Park), there's almost no developable land, entitlement takes years, and new construction is scarce and expensive. The scarcity itself is what holds cap rates at 4–5%. A building 10 years older in (Silver Lake, Echo Park) still sits on irreplaceable dirt with no wave of new competition.
Reflecting an exceptional standard of ownership, The building is in pristine, highly maintained condition. Three units feature comprehensive, high-end modernization. The remaining three units are well-maintained. With zero deferred maintenance and a flawless physical footprint. The property includes a 3,990-square-foot subterranean parking garage with 12 secured stalls plus 6 storage units, with zero deferred maintenance. The building features a solid concrete podium garage base supporting wood-framed residential levels wrapped entirely in a durable, stucco exterior finish.