3245 W Avenue 32
Los Angeles, CA 90065
Non-Rent Controlled in Burgeoning New Market · Multifamily Property For Sale · 12 Units

KW Commercial is pleased to present 3245 W. Avenue 32, a 12 Unit NON-RENT CONTROLLED apartment community located in Glassell Park, CA (90065). Glassell Park is experiencing a dramatic and significant shift like what Silver Lake and Echo Park experienced over the past 20 years with the biggest news for the area being the LA River revitalization master planned project which would run just 1 mile away from the offering(s). This mammoth undertaking is poised to alter the face of LA and specifically, Glassell Park, for generations to come. A world class team, including landscape / urban design architect Frank Gehry (think-Washington Monument) is leading the charge to transform the LA River into a recreational green oasis. 3245 W. Avenue 32 The offering, built in 1990, features 12 large apartment homes with an exceptional unit composition featuring Twelve (12) Large 2 Bedroom-2 Bathroom apartment homes encompassing +/-11,966 square feet of improvements. Each unit includes central air conditioning and heating. The common areas feature 2 laundry rooms (building owned equipment), lobby and central courtyard. Each unit includes one or more balconies and select upper units feature treetop views of the surrounding city. Four (4) of Twelve (12) apartment homes (only 33% of units) have been upgraded with completely reimagined interior spaces featuring new wood flooring, decorative paint finishes, upgraded baths with new vanities, tile surrounds and kitchens with new cabinetry and appliance packages along with new lighting, locks, hardware and innovative finishes throughout. Since the assets are not subject to rent control, the remaining Eight (8) un-renovated units will provide the astute investor future increased rent potential when vacated. The common and exterior spaces of both properties have undergone a significant renovation highlighted by updated entries, passages, staircases, lighting along with draught resistant landscaping and redesigned exterior color palate. Glassell Park (90065) is as diverse as the people living in it. Thanks to its neighborhood feel, the area is perfect for young people looking for a “next-level” coffee experience and a community vibe. Within blocks you will find many of L.A.’s newest foodie revolution hot spots along with Habitat Coffee for a barista inspired espresso, Lemon Poppy Kitchen for European pastries, Tres Palmas for seafood tacos, dog friendly Division 3 for an alfresco breakfast or Verdugo Bar for craft beer on the patio.