Press Releases
Marcus & Millichap Arranges $7.35M Sale of 36-Unit Multifamily Property in Los Angeles
October 26, 2026
LOS ANGELES, Oct. 26, 2026 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research, and advisor services, announced today the sale of Echo Lake Apartments, a 36-unit multifamily property located at 1717-1725 Park Ave. in Los Angeles. The property sold for $7.35 million, or $204,167 per unit.
“Echo Lake Apartments offered the buyer a rare opportunity to acquire a sizable multifamily property directly across from Echo Park Lake, where assets of this scale rarely become available,” said Sean Rosenzweig, senior managing director investments. “The previous ownership invested approximately $1.9 million in capital improvements, including renovations to 30 of the 36 units. With six units remaining unrenovated, the property offers additional upside potential while providing the buyer with a well-maintained asset for long-term ownership.”
Rosenzweig and Josh Zimmerman, investment specialists in Marcus & Millichap’s Los Angeles office, had the exclusive listing to market the property on behalf of the seller, a private asset management company. The buyer was a high-net-worth family.
Built in 1958, the 13,584-square-foot property is situated on 0.44 acres and consists of 18 studio and 18 one-bedroom apartments across two buildings. The property features gated entry, on-site laundry facilities and 25 parking spaces. Since 2021, approximately $1.9 million in capital improvements have been completed, including unit renovations and upgrades to building systems, windows and common areas. Located directly across from Echo Park Lake and one block from Sunset Boulevard, the property provides access to nearby restaurants, shopping and entertainment.
“Echo Lake Apartments offered the buyer a rare opportunity to acquire a sizable multifamily property directly across from Echo Park Lake, where assets of this scale rarely become available,” said Sean Rosenzweig, senior managing director investments. “The previous ownership invested approximately $1.9 million in capital improvements, including renovations to 30 of the 36 units. With six units remaining unrenovated, the property offers additional upside potential while providing the buyer with a well-maintained asset for long-term ownership.”
Rosenzweig and Josh Zimmerman, investment specialists in Marcus & Millichap’s Los Angeles office, had the exclusive listing to market the property on behalf of the seller, a private asset management company. The buyer was a high-net-worth family.
Built in 1958, the 13,584-square-foot property is situated on 0.44 acres and consists of 18 studio and 18 one-bedroom apartments across two buildings. The property features gated entry, on-site laundry facilities and 25 parking spaces. Since 2021, approximately $1.9 million in capital improvements have been completed, including unit renovations and upgrades to building systems, windows and common areas. Located directly across from Echo Park Lake and one block from Sunset Boulevard, the property provides access to nearby restaurants, shopping and entertainment.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2025, the company had 1,808 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 8,818 transactions in 2025, with a sales volume of approximately $50.9 billion. For additional information, please visit www.MarcusMillichap.com.
