1513 & 1515
COLORADO BLVD
EAGLE ROCK, CA 90041
7 APARTMENTS | 1 COMMERCIAL UNIT
2 SEPARATE PARCELS
By Eric Dilanian
THE ASSIGNMENT
Eric Dilanian and his team at The Dilanian Real Estate Advisors were retained to market and sell 1513 & 1515 Colorado Boulevard, a distinctive eight-unit mixed-use investment property in the heart of Eagle Rock. The property consisted of seven residential apartments and one commercial unit situated across two separate parcels along the prominent Colorado Boulevard corridor.
Built in 1963, the property featured an unusually desirable residential unit mix composed entirely of two-bedroom apartments. With approximately 15,882 square feet of combined land, varied zoning, and a Tier 4 Transit Oriented Communities (TOC) designation, the property offered a combination of existing income and potential for future development or accessory dwelling units (ADUs), subject to buyer verification and governmental approval.
The property's mixed-use configuration and separate parcels required a strategic marketing approach that clearly communicated its unique investment characteristics. Eric's objective was to highlight the value of the existing income, the flexibility offered by the two parcels, and the property's long-term development possibilities while attracting qualified apartment, commercial, and development-oriented investors.
Through targeted market exposure and established investor relationships, Eric and his team sought to generate competitive buyer interest, identify a financially capable purchaser, and negotiate favorable terms that would provide the seller with greater confidence and certainty throughout the transaction.
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Multiple competitive offers generated
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Proven repeat client procured as the successful buyer
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No financing or appraisal contingencies
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Increased earnest-money deposit
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Deposit released directly to the seller as non-refundable following contingency removal
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Eric represented both buyer and seller
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Successful closing with enhanced financial protection for the seller
THE RESULTS
QUALIFIED
BUYER TOURS
5
COMBINED
LAND AREA
±15,882 SF
THE DEAL STORY
Eric Dilanian and his team launched a targeted marketing campaign designed to reach active apartment, mixed-use, and development-oriented investors throughout Los Angeles. The strategy emphasized the property's unique configuration, prominent Colorado Boulevard location, and long-term investment potential to attract qualified buyers.
The marketing campaign resulted in five qualified buyer tours and multiple competitive offers, creating meaningful interest in the property. This response allowed the seller to evaluate prospective purchasers based on price, experience, financial strength, and ability to successfully complete the transaction.
Through his established investor relationships, Eric secured a proven repeat client whom he had represented in a previous transaction. The buyer's demonstrated track record provided the seller with additional confidence and helped establish a strong foundation for a dependable closing.
Representing both the buyer and seller, Eric negotiated an agreement without financing or appraisal contingencies, significantly reducing the seller's exposure to transaction risk. The buyer subsequently increased the earnest-money deposit, further demonstrating a strong commitment to the purchase.
Upon removal of contingencies, the increased deposit was released directly to the seller and became non-refundable, providing tangible financial protection and greater certainty of closing. These carefully negotiated terms helped deliver a well-structured transaction that protected the seller's interests while supporting a successful outcome for both parties.
THE INVESTMENT OPPORTUNITY
1513 & 1515 Colorado Boulevard presented investors with a rare eight-unit mixed-use investment opportunity in the heart of Eagle Rock, featuring seven residential apartments and one commercial unit across two separate parcels. Prominently positioned along Colorado Boulevard, the property combined existing income with long-term investment and development potential.
Built in 1963, the residential component features an attractive unit mix consisting entirely of two-bedroom apartments. Together, the two parcels encompass approximately 15,882 square feet of combined land, offering potential for accessory dwelling units (ADUs) or future development, subject to buyer verification and governmental approval.
The property at 1515 Colorado Boulevard includes an approximately 6,388-square-foot building situated on an approximately 9,512-square-foot lot. This parcel is zoned (Q)C4-2D and R1-1 and is located within a Tier 4 Transit Oriented Communities (TOC) area. The adjacent property at 1513 Colorado Boulevard includes an approximately 400-square-foot garage on an approximately 6,370-square-foot lot, zoned (Q)C4-2D. The separate parcels and varied zoning create additional considerations for future investment and development strategies.
Located along one of Eagle Rock's most recognizable commercial corridors, the property offers convenient access to neighborhood destinations including Trader Joe's, Cindy's, Found Coffee, Casa Bianca Pizza, Eagle Rock Italian Bakery, Little Beast, The Oinkster, Capri Club, and Walt's Bar. With a Walk Score of 85, classified as “Very Walkable,” the location allows residents to complete most daily errands on foot, adding to the property's long-term residential and commercial appeal.
WHY THE SELLER CHOSE ERIC DILANIAN
Selling a distinctive mixed-use investment property requires more than traditional marketing. With seven residential apartments, one commercial unit, two separate parcels, varied zoning, and future development potential, 1513 & 1515 Colorado Boulevard required specialized positioning and an experienced advisor capable of communicating its long-term value to qualified investors.
Eric Dilanian and his team implemented a targeted marketing strategy that generated multiple competitive offers and attracted five qualified buyers for property tours. Through his established investor relationships, Eric secured a proven repeat client whose experience and track record provided the seller with added confidence throughout the transaction.
Beyond identifying the right buyer, Eric negotiated meaningful financial protections for the seller, including an agreement without financing or appraisal contingencies and an increased earnest-money deposit. Following contingency removal, the deposit was released directly to the seller and became non-refundable, demonstrating the buyer's commitment and providing greater certainty of closing.
The result was a well-structured transaction that prioritized the seller's interests from offer acceptance through closing. With extensive experience in Eagle Rock's multifamily and investment-property market, Eric Dilanian provides the strategic guidance, established buyer relationships, and hands-on representation needed to navigate complex property sales and deliver dependable results.
When execution matters most, owners turn to Eric Dilanian - Northeast Los Angeles' leading local apartment investment advisor.
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