2233
ADDISON WAY
EAGLE ROCK, CA 90041
7 UNITS | FIRST SALE 24 YEARS
$50K OVER ASKING | 9 OFFERS
By Eric Dilanian
THE ASSIGNMENT
The sale of 2233 Addison Way marked the first time the seven-unit Eagle Rock apartment building had been offered for sale in 24 years. The seller needed a strategy that could maximize value while providing certainty of closing as they prepared to exchange out of Los Angeles.
Eric Dilanian developed and executed a comprehensive, multipoint marketing campaign that generated nine final offers, including four non-contingent offers. Through strategic offer management and careful buyer selection, Eric procured an all-cash buyer offering a strong combination of price, experience, and certainty.
The property ultimately sold for $1,500,000—$50,000 above the asking price—with no financing or appraisal contingencies and closed within a swift seven-day escrow.
Eric exclusively represented the seller throughout the successful transaction.
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Seven-unit apartment building in Eagle Rock
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Nine final offers generated
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Four non-contingent offers received
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100% all-cash closing
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No financing or appraisal contingencies
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Seven-day escrow
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Offered for sale for the first time in 24 years
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Eric Dilanian exclusively represented the seller
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Eric procured the successful buyer
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Provided closing certainty for a seller exchanging out of Los Angeles
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Buyer selected with the qualifications to address the property’s regulatory and capital-improvement requirements
THE RESULTS
SOLD PRICE
(2233 ADDISON WAY)
$1,500,000
SOLD
OVER ASKING PRICE
$50,000
THE DEAL STORY
The sale of 2233 Addison Way required more than simply generating buyer interest. The property presented a series of regulatory and physical considerations, and the seller needed a qualified buyer with the financial strength, multifamily experience, and operational capability to successfully complete the transaction.
Eric developed and executed a customized marketing plan designed to maximize exposure among qualified apartment investors throughout Eagle Rock, Northeast Los Angeles, and the broader Greater Los Angeles multifamily market. The campaign combined broad market exposure with targeted outreach to Eric’s established network of apartment owners, private investors, exchange buyers, and active multifamily prospects.
The campaign produced nine final offers, including four non-contingent proposals. Rather than evaluating price alone, Eric carefully reviewed each buyer’s financial qualifications, multifamily ownership experience, contingency structure, closing timeline, and ability to address the property’s regulatory and capital-improvement requirements.
Through his intimate knowledge of the Eagle Rock apartment market and local buyer pool, Eric procured the buyer offering the strongest overall combination of price, experience, certainty, and execution.
NAVIGATING THE REGULATORY & PROPERTY ISSUES
The property’s existing SCEP Notice and Order to Comply, outstanding SB 721 inspections, and legacy Federal Pacific and Stab-Lok electrical panels created additional complexity.
These matters could have discouraged inexperienced buyers, created uncertainty during due diligence, or increased the likelihood of a delayed or unsuccessful closing.
Eric’s marketing and buyer-selection process focused on qualified investors who understood Los Angeles multifamily regulations and possessed the experience and resources required to address the outstanding items after closing.
The successful buyer was prepared to inherit the existing requirements, undertake the necessary capital improvements, and operate the asset within today’s increasingly complex regulatory environment.
TRANSACTION EXECUTION
Eric’s strategic marketing and offer-management process generated nine final offers and ultimately produced a $1,500,000 closing price—$50,000 above the asking price. Four buyers submitted non-contingent offers, giving the seller multiple qualified options and a high degree of closing certainty.
The successful buyer completed the purchase entirely in cash, with no financing or appraisal contingencies, and closed within a seven-day escrow. The accelerated closing allowed the seller to proceed confidently with an exchange out of Los Angeles.
By carefully evaluating buyer qualifications alongside price and terms, Eric secured a buyer with the experience and resources necessary to assume the property’s regulatory and capital-improvement requirements while maintaining the negotiated price and accelerated closing timeline.
The transaction demonstrates how comprehensive exposure, disciplined offer management, and informed buyer selection can deliver premium pricing and favorable terms, even when an apartment property carries significant regulatory and capital-improvement requirements. 6. 2233 addison way case study
WHY THE SELLER CHOSE ERIC DILANIAN
Selling a long-held apartment building with significant regulatory and capital-improvement considerations required more than simply finding a buyer. The seller needed an advisor who could generate strong market exposure, create competition, carefully evaluate buyer qualifications, and provide certainty throughout the transaction.
Eric’s knowledge of the Eagle Rock apartment market and established network of multifamily investors helped generate nine final offers, including four non-contingent proposals. Rather than focusing on price alone, Eric evaluated each buyer’s experience, financial strength, contingency structure, closing timeline, and ability to successfully assume the property’s outstanding requirements.
By combining comprehensive marketing with disciplined offer management and informed buyer selection, Eric procured an experienced all-cash buyer and delivered a $1,500,000 closing price—$50,000 above asking—with a seven-day escrow.
The result provided the seller with both premium pricing and the closing certainty needed to confidently proceed with an exchange out of Los Angeles.
When execution matters most, owners turn to Eric Dilanian - Northeast Los Angeles' leading local apartment investment advisor.
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