Avison Young tapped to sell newly built, 190-unit Class A multifamily portfolio in Echo Park neighborhood of Los Angeles

Los Angeles, Calif. – Global commercial real estate advisor, Avison Young, announced today that it has been selected to market for sale a newly constructed, Class A multifamily portfolio totaling 190 units across three properties in the highly sought-after Echo Park neighborhood of Los Angeles. The offering, known collectively as the Echo Park Portfolio, includes Park located at 200 N Toluca Street; Vista located at 215 N Toluca Street; and Zag located at 1750 Glendale Boulevard.

Park and Vista sit at the top of the hill with exquisite views and operate cohesively as a shared campus directly across from the 10-acre Vista Hermosa Natural Park, while Zag is located just minutes away near Dodger Stadium and the future 116-acre Silver Lake Reservoir park redevelopment.

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 with more than 35 years of experience. Aragon’s reputation to build with high-end materials and luxury residential finishes, furniture and appliances in Canada has not changed in their buildings in Los Angeles. The portfolio is unpriced.  

The portfolio presents investors with a rare opportunity to acquire institutional-quality multifamily product in a premier urban infill location with significant long-term upside. 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 Peter Sherman, Principal and Head of U.S. Multifamily Sales & Development with Avison Young. “This portfolio combines high-quality construction, premier walkable locations and immediate operational upside in one of Los Angeles’ most culturally vibrant neighborhoods.”

Developed between 2022 and 2024, each property includes studios, one-bedroom and two-bedroom units and features a rich slate of amenities and condo quality finishes throughout, including rooftop decks with panoramic views of the Hollywood Sign, Dodger Stadium and the Downtown Los Angeles skyline, state-of-the-art fitness centers, Café series appliances, sound-attenuating windows and full-size in-unit washer/dryers.

The properties also offer immediate connectivity to the employment hubs of Downtown Los Angeles, the Arts District, Hollywood, Mid-Wilshire and Burbank/Glendale via the 101, 110, 5, 10 and 2 freeways.

The portfolio is positioned in one of the city’s most dynamic and supply-constrained rental markets. The surrounding Echo Park housing stock is predominantly vintage product dating from the 1920s through 1960s, while development barriers including challenging topography, fragmented parcel ownership and lengthy entitlement timelines, continue to constrain future Class A supply.

Hannah Maile, Senior Associate added, “This offering presents near-term value potential, with current in-place rents reportedly averaging approximately 4% below market as initial lease up nears completion. An experienced owner/operator is poised to benefit from immediate occupancy gains and continued, strong rent growth in a submarket that remains comparatively affordable relative to nearby neighborhoods such as Silver Lake.”

In addition, Park and Zag feature attractive assumable Fannie Mae financing, while Vista will be delivered free and clear, providing buyers with additional flexibility in structuring the acquisition.