217 S
AVENUE 54
HIGHLAND PARK, CA 90042
17 UNITS | MID-CENTURY MULTIFAMILY ASSET
BUILDING 1 OF 3 SOLD IN A 43-UNIT HIGHLAND PARK PORTFOLIO
By Eric Dilanian
THE ASSIGNMENT
The sale of 217 S Avenue 54 marked the first successful closing within a three-property, 43-unit Highland Park apartment portfolio. The long-held mid-century asset was sold through a coordinated portfolio-disposition strategy led by Eric Dilanian of The Dilanian Real Estate Advisors at RE/MAX Commercial & Investment Realty.
Despite persistently high interest rates and continued economic volatility, Eric’s comprehensive, multipoint marketing campaign generated multiple offers and positioned the property to close at 95% of its asking price.
Eric procured the successful buyer, who submitted a non-contingent offer upon acceptance. The offer provided greater certainty of closing for the seller while completing an out-of-state 1031 exchange.
Eric represented both the seller and buyer through the successful closing.
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17-unit mid-century apartment building in Highland Park
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Closed at 95% of the asking price
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Multiple offers generated through comprehensive marketing
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Non-contingent offer upon acceptance
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Eric Dilanian procured the buyer
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Represented both the seller and buyer
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Provided closing certainty for a seller completing an out-of-state 1031 exchange
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Building 1 of 3 sold within a 43-unit Highland Park portfolio
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Marked Eric’s 12th closed transaction in approximately 5.5 months, with additional transactions in escrow
THE RESULTS
SOLD PRICE
(217 S AVENUE 54)
$2,850,000
PORTFOLIO CLOSING PRICE
(THREE-BUILDING 43-UNIT PORTFOLIO)
$6,600,000
THE DEAL STORY
Selling a 17-unit apartment building during a period of elevated borrowing costs and economic uncertainty required a carefully planned approach. The challenge was not only generating buyer interest, but positioning the long-held mid-century property for today’s buyer pool while balancing price, timing, and certainty of closing.
Eric developed and executed a comprehensive, multipoint marketing campaign designed to leave no stone unturned. The property was presented to active apartment investors throughout Highland Park, Northeast Los Angeles, and the broader Greater Los Angeles multifamily market. The campaign combined broad market exposure with direct outreach to Eric’s established network of private investors, apartment owners, exchange buyers, and qualified multifamily prospects.
By clearly communicating the property’s mid-century character, scale, Highland Park location, and long-term investment potential, Eric generated multiple offers despite difficult market conditions. Each offer was evaluated not only on price, but also on contingencies, buyer qualifications, timing, and the likelihood of a successful closing.
PORTFOLIO EXECUTION
The comprehensive marketing campaign generated multiple offers and ultimately produced a non-contingent buyer, giving the seller a high degree of closing certainty during a challenging market environment.
Eric procured the successful buyer and represented both the seller and buyer through the closing. The property sold for $2,850,000—95% of its asking price—despite persistently high interest rates, tighter financing conditions, and continued economic volatility.
As the first of three properties to close within the 43-unit Highland Park portfolio, the sale of 217 S Avenue 54 established an important first step in the seller’s coordinated portfolio disposition and out-of-state 1031 exchange.
The transaction demonstrates how comprehensive market exposure, competitive positioning, local buyer relationships, and disciplined offer evaluation can produce a successful result even in a challenging Los Angeles multifamily market.
WHY THE SELLER CHOSE ERIC DILANIAN
Selling a long-held multifamily property in a challenging market requires more than simply bringing a property to market. It requires local expertise, established buyer relationships, strategic positioning, and careful evaluation of each offer.
Eric’s comprehensive marketing strategy created broad exposure throughout Highland Park, Northeast Los Angeles, and the Greater Los Angeles multifamily market while leveraging his established network of qualified apartment investors and exchange buyers.
By generating multiple offers, procuring a non-contingent buyer, and carefully balancing price with certainty of closing, Eric helped the seller successfully complete the first sale within the three-property, 43-unit Highland Park portfolio while supporting the seller’s out-of-state 1031 exchange.
When execution matters most, owners turn to Eric Dilanian - Northeast Los Angeles' leading local apartment investment advisor.
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