Avison Young Markets Echo Park Multifamily Portfolio
Avison Young has been selected to market for sale a newly constructed, Class A multifamily portfolio totaling 190 units across three properties in the Echo Park neighborhood of Los Angeles. Known collectively as the Echo Park Portfolio, the offering includes Park, located at 200 N Toluca St.; Vista, located at 215 N Toluca St.; and Zag, located at 1750 Glendale Blvd.
The Avison Young Capital Markets team consisting of Peter Sherman, Hannah Maile, Sam Chow, James Nelson and Erik Edeen is leading the marketing efforts on behalf of the seller, Aragon Properties, an award-winning Vancouver-based multifamily developer The portfolio is unpriced.
The portfolio presents investors with a rare opportunity to acquire institutional-quality multifamily product with significant long-term upside, according to Avison Young. All three properties are exempt from the Los Angeles Rent Stabilization Ordinance (RSO), allowing for unrestricted market-rate rent growth in a city where more than 75% of multifamily inventory remains rent-controlled.
“Opportunities to acquire newly constructed, non-RSO multifamily product at scale in Echo Park are exceptionally rare,” said Sherman. “This portfolio combines high-quality construction, premier walkable locations and immediate operational upside in one of Los Angeles’ most culturally vibrant neighborhoods.”
On May 28, Connect Los Angeles brings together 600+ high-level owners, investors, developers, brokers, and lenders shaping the region’s market for a full day of insights and networking. Be in the room with decision-makers driving deals across LA, SoCal and the nation—register now: www.connectLA26.com
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout