3245 W Ave 32

Los Angeles, CA 90065

$4,240,000
Price
24
Beds
24
Baths
11,966 Sq. Ft.
$354 / Sq. Ft.
11,966
Sq. Ft.
$354
per Sq. Ft.

Description

We are pleased to present 3245 W. Avenue 32, a 12 Unit NON-RENT CONTROLLED apartment community located in Glassell Park, CA (90065) which is designated by AB 1482 in which the most recent allowable rent increase in 2024 is 8.8%. Glassell Park is adjacent to Atwater Village, Eagle Rock and just blocks to both DTLA and Echo Park. The area continues to experience a dramatic and significant shift like what Silver Lake and Echo Park experienced over the past 20 years. Important development news for the...We are pleased to present 3245 W. Avenue 32, a 12 Unit NON-RENT CONTROLLED apartment community located in Glassell Park, CA (90065) which is designated by AB 1482 in which the most recent allowable rent increase in 2024 is 8.8%. Glassell Park is adjacent to Atwater Village, Eagle Rock and just blocks to both DTLA and Echo Park. The area continues to experience a dramatic and significant shift like what Silver Lake and Echo Park experienced over the past 20 years. Important development news for the area is the LA River Master Plan project which is just 1 mile away from the offering. This mammoth, +/- $30 Billion undertaking is poised to alter the face of LA and specifically, Glassell Park, forever. A world-class team, including urban design architect Frank Gehry and international landscape architects Olin, are leading the transform of 51 miles of the LA River into a recreational green oasis. 3245 W. Avenue 32 was constructed in 1990 and comprises +/-11,966 square feet of improvements and feature 12 units comprised of all Large 2 Bedroom-2 Bathroom apartment homes. Most units have been completely remodeled and feature central air conditioning / heating, bright and open floor plans, new wood flooring, modern custom European kitchens with premium stainless-steel appliance packages, new cabinetry, upgraded baths with new vanities, tile surrounds and along with new lighting, locks, hardware and innovative finishes throughout. Each apartment home also comes with one or more balconies and select upper units feature treetop views of the surrounding city. In recent years, the common and exterior spaces have undergone a significant renovation highlighted by updated laundry, entries, passages, staircases and lighting along with drought resistant landscaping and a redesigned exterior color palate. A multi-camera video system completes the package. Gated/secured parking is provided for all units. Since the assets are not subject to LA City rent control, any below market rents will provide the astute investor future increased rent potential and ease of management. 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. Can be purchased with its sister building - 16 Units at 3232 W. Avenue 32
  1. Listed by Adam Zunder • DRE #01821053 • Brokerage DRE #01229985 • Iconic Investments
  2. Listed by Rich Johns • DRE #01432215 • Brokerage DRE #01125362 • KW Commercial Studio City

Property Details for 3245 West Ave 32

Zoning
LARD2
Parcel Number
5458015042
Total Units
12.0
Living Area
11966
Source Living Area
Vendor Enhanced
Area
Glassell Park (623)
Vacancy Rate
0
Lot Size Area
10202
LISTING UPDATED: 06/17/2025 10:41 AM

Property Details for 3245 West Ave 32

StatusActive
MLS #25499691
Days on Market100
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1990
Lot Size0.23 AC / 10,202 SF
CountyLos Angeles County

Location

Listing Courtesy of Iconic Investments, Adam Zunder, DRE #01821053; KW Commercial Studio City, Rich Johns, DRE #01432215
Add your commute

Building Information for 3245 West Ave 32

Stories2Residences-Year Built1990Building Size-Lot Size0.23 AC / 10,202 SF

Payment Calculator

$25,912 per month

30 year fixed, 6.845% Interest

Principal and Interest

$22,215

Property Taxes

$3,697

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 3245 West Ave 32

Community / Development
Community / Development
  • Number Of Units: 12
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 1
  • Type Of Units: Apartments
Contract Info
Contract Info
  • Disclosures: None
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $376,297
  • Net Operating Income: $246,338.00
  • Gross Income: $376,297
  • Cap Rate: 5.80%
  • Gross Rent Multiplier: $11.30
  • Total Annual Expense: 122433
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.2342
  • Lot Size Square Feet: 10202
Parking Details
Parking Details
  • Parking Garage: Community Garage
  • Total Parking: 24
  • Covered Parking: 24
  • Parking Features: Community Structure
Interior Features
Interior Features
  • Levels: Multi/Split
  • Cooling: Wall/Window Unit(s)
  • Cooling Type: Wall/Window
  • Heating: Wall Furnace
  • Heating Type: Wall
  • Equipment: None
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 02-18-2025
Unit Details
Unit 1 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $2,511.00
  • Unit Actual Rent: $30,131.00
  • Unit Projected Rent: $35,940.00
  • Like Units: 12
Unit Details
  • Unit Type Type: 2106
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $1,388,148.00
  • Assessed Improvement Percent: 39.1
  • Assessed Land Value: $2,161,873.00
  • Assessed Land Percent: 60.9
  • Assessed Total Value: $3,550,021.00

Property History for 3245 West Ave 32

DateEvent & SourcePriceAppreciation
Jun 11, 2025

Price Change

CLAW #25499691

$4,240,000—
Jun 11, 2025

Listed (Active)

CLAW #25499691

$4,400,000—
Apr 11, 2025

Price Change

CLAW #25499691

$4,240,000—
Apr 11, 2025

Price Change

CRMLS #25499691

$4,240,000—
Feb 18, 2025

Hold

CLAW #25499691

—
Feb 18, 2025

Listed (Active)

CRMLS #25499691

$4,400,000—
Feb 18, 2025

Listed (Active)

CLAW #25499691

$4,400,000—
Feb 28, 2019

Withdrawn / Cancelled

SDMLS #18375338

—
Feb 28, 2019

Withdrawn / Cancelled

CLAW #18-375338

$4,400,000—
Feb 28, 2019

Withdrawn / Cancelled

CRMLS #18375338

$4,400,000—
Nov 8, 2018

Listed (Active)

CLAW #18-375338

$4,600,000—
Aug 13, 2018

Listed (Active)

CRMLS #18375338

$4,600,000—
Aug 13, 2018

Listed (Active)

SDMLS #18375338

$4,600,000—
Jan 27, 2017

Sold (Public Record)

Public Record #588019764

$3,120,000—
DateEvent & SourcePrice
06/11/2025

Price Change

CLAW #25499691

$4,240,000
06/11/2025

Listed (Active)

CLAW #25499691

$4,400,000
04/11/2025

Price Change

CLAW #25499691

$4,240,000
04/11/2025

Price Change

CRMLS #25499691

$4,240,000
02/18/2025

Hold

CLAW #25499691

—
02/18/2025

Listed (Active)

CRMLS #25499691

$4,400,000
02/18/2025

Listed (Active)

CLAW #25499691

$4,400,000
02/28/2019

Withdrawn / Cancelled

SDMLS #18375338

—
02/28/2019

Withdrawn / Cancelled

CLAW #18-375338

$4,400,000
02/28/2019

Withdrawn / Cancelled

CRMLS #18375338

$4,400,000
11/08/2018

Listed (Active)

CLAW #18-375338

$4,600,000
08/13/2018

Listed (Active)

CRMLS #18375338

$4,600,000
08/13/2018

Listed (Active)

SDMLS #18375338

$4,600,000
01/27/2017

Sold (Public Record)

Public Record #588019764

$3,120,000

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 3245 West Ave 32

Taxable ValueLand$2,161,873Additions$1,394,648Total$3,556,521
Tax Record2024$44,368 ($3,697 / month)
Home Facts
Total Finished SqFt11,966 SqFtAbove Grade Finished SqFt11,966 SqFtLot Size10,199 SqFtStyleMulti-Family Res (5+ Units)Year Built1990ZoningLARD2CountyLOS ANGELESAPN5458-015-042

Schools near 3245 West Ave 32

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 12
Public - 7 to 12
Charter - K to 8
Rating
School
Distance
Fletcher Drive Elementary School
PublicK to 5

Benjamin Franklin Senior High School
Public6 to 12

Eagle Rock High School
Public7 to 12

ISANA Octavia Academy
CharterK to 8

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

Similar Sold Homes

3245 West Ave 32 is a multi-family home for sale in Los Angeles, CA 90065. This property was listed for sale on February 18, 2025 by Iconic Investments, it's currently listed at $4,240,000. It has been on the market for a total of 100 days and was last sold on January 27, 2017. This listing's school district is Los Angeles Unified School District. Nearby schools include Fletcher Drive Elementary School, Benjamin Franklin Senior High School and Eagle Rock High School. 3245 West Ave 32 is a 24-bed, 24-bath, 11,966 sqft multi-family home built in 1990.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Iconic Investments, Adam Zunder, DRE #01821053; KW Commercial Studio City, Rich Johns, DRE #01432215

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.