1513-1515 Colorado Blvd - Apartments FOR SALE


Los Angeles, CA 90041- Eagle Rock
$2,325,000 USD
213-233-4379
1513-1515 Colorado Blvd, Los Angeles, CA for Sale
$2,325,000 USD
Apartments - FOR SALE
1/26
null | Request Cap Rate

1513-1515 Colorado Blvd
Los Angeles, CA 90041
Eagle Rock


HIGHLIGHTS

  • Eric Dilanian & Patrick Dilanian are Pleased to Present for Sale a Rare Multi-family/Commercial Property with ADU and Development Potential
  • (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
  • Building/ Lot SF: 1515 Colorado: ± 6,388 SF on a ± 9,512 SF Lot & 1513: 400 SF Garage on ±6,370 SF Lot
  • Zoning: 1515 Colorado: (Q) C4-2D & R1-1 Tier 4 TOC; 1513 Colorado: (Q)C4-2D
  • Located on famous Colorado Blvd, just steps away from Trader Joes, Cindy’s, Found Coffee, and within minutes to Eagle Rock favorites
  • Walk Score: of 85 (“Very Walkable”) where most errands can be accomplished on foot

OVERVIEW

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

FOR SALE DETAILS

PRICE

$2,325,000 USD

PRICE/SF

$246 USD /SF

# OF UNITS

8

PRICE/UNIT

$290,625

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

8 Units on ±16K SF Land | DOUBLE LOT!

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1963

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.36 AC

LAND SF

15,754 SF

ZONING

(Q)C4-2D & R1-1

APN/PARCEL ID

5669-012-019,5669-012-044

ASK ABOUT THIS PROPERTY

Eric DilanianRE/MAX Commercial & Investment RealtyMore Info
213-233-4379

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Eric DilanianRE/MAX Commercial & Investment RealtyMore Info
213-233-4379

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.