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3245 Drew Street
GLASSELL PARK
CA 90065
5 NON-RENT CONTROL UNITS &
SINGLE FAMILY HOME ON A LARGE LOT

www.CONCORD-RE.com | hello@concord-re.com | 310.551.0660
449 South Beverly Drive, First Floor, Beverly Hills, CA 90212

OFFERING MEMORANDUM

3245 Drew Street

MARKETING PACKAGE
OVERVIEW

GLASSELL PARK, CA 90065

Our mission

LOCATION OVERVIEW
Market overview
PRESENTED BY
Kenny Stevens
Managing Partner / Senior Vice President
BRE# 01090251
424.284.4440 direct
310.551.0661 fax
kstevens@concord-re.com

PROPERTY SUMMARY
Property Highlights
Property Details
Property Location
Aerial Photo
Parcel Orientation
Photography

FINANCIALS

Financial Overview
Rent Roll

COMPARABLES
Andrew Wilkey
Investment Associate

Sales Comps
Rent Comps

BRE# 01998185
424.284.4444 direct
310.551.0661 fax
awilkey@concord-re.com

www.CONCORD-RE.com | hello@concord-re.com | 310.551.0660
449 South Beverly Drive, First Floor, Beverly Hills, CA 90212

ABOUT US

3245 Drew Street
GLASSELL PARK, CA 90065

OUR WORLD HAS CHANGED AND SO HAS THE BUSINESS OF REAL ESTATE. IT’S NOT ENOUGH TO WORK WITH A
TYPICAL REAL ESTATE COMPANY. AT CONCORD, WE THINK OF OURSELVES AS YOUR PARTNER - ONE WHO CAN
BRING EVERY ASPECT OF YOUR PORTFOLIO TOGETHER UNDER ONE ROOF, COMBINING CORPORATE CAPABILITIES
WITH A FAMILY FEEL.
CONCORD IS THE EVOLUTION OF REAL ESTATE. WE’RE CHANGING THE GAME AND MOVING ABOVE AND BEYOND
WHAT YOU’VE COME TO EXPECT. THIS IS REAL ESTATE UNIFIED; NEXT-LEVEL SERVICES THAT SEAMLESSLY CONNECT THE
DOTS SO YOU DON’T HAVE TO. FROM ACQUISITION TO MANAGEMENT TO CONSTRUCTION TO THE DISPOSITION,
CONCORD IS ELEVATING YOUR EXPERIENCE EVERY STEP OF THE WAY.

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or
implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.

3245 Drew Street

OUR MISSION

GLASSELL PARK, CA 90065

OUR CLIENTS ENTRUST US WITH SO MANY ASPECTS OF THEIR REAL ESTATE LIFE. OUR MISSION IS TO
DUTIFULLY GUIDE THEM, CREATE VALUE AND ACT IN HARMONY WITH THEIR BEST INTEREST.

WE PARTNER WITH YOU EVERY STEP OF THE WAY
TO ELEVATE YOUR REAL ESTATE EXPERIENCE
a different kind of real estate partner.

LOCATION
3245 DREW STREET
GLASSELL PARK
CA 90065

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or
implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.

LOCATION

LOCATION OVERVIEW

GLASSELL PARK
Glassell Park is a community nestled in a relatively small pocket between
Atwater Village, Eagle Rock, Highland Park, and Mount Washington. The
area is bordered by the LA River to the South, The Verdugo Mountains to
the North, and views of Mt. Washington to the East. The zip code gets its
name from Andrew Glassell, a famous attorney and developer who was
granted a large portion of the land during the Great Partition of 1871.
Glassell passed away in 1901 and the land has slowly been sold off by
the remaining family. Many of the street names are named after his
close family: Toland, Drew, Andrita, Marguarite, etc.
Glassell Park saw a major population boom in the early 90s as developers
began constructing hundreds of apartment buildings in the relatively
small area after getting the green light from the city of Los Angeles.
Density began increasing as population grew and new occupants
started to inhabit the area. Glassell Park fell victim to high levels of gang
activity in the early 2000s, with LA’s most notorious gang “The Avenues”
dominating the streets for many years. However, in 2008 more than 500
officers and federal agents arrested over 80 gang members and the City
of Los Angeles began allocating resources to revitalize the area. A
community garden was placed on Drew Street, and local organizations
like The Glassell Park Improvement Association have made incredible
strides to clean up the area.
Glassell Park has experienced tremendous change in the last 7 years.
Hipsters from Atwater Village, Highland Park, and Silverlake are migrating
into Glassell Park and occupying the apartments that once ran wild with
questionable characters.
The area provides a certain level of
affordability that allows millennials to purchase or rent their own little
piece of Los Angeles at a fraction of the cost. Quaint coffee shops,
trendy night clubs, and local breweries line the narrow commercial
streets of Glassell Park providing entertainment and dining to local
residents. Median home prices in Glassell Park have increased by 10.5%
over the past 1 year, and values are expected to continue rising as
millennials keep pouring in, and the city continues investing in
infrastructure. Several large development/improvement projects are
expected to hit the area in the next 5 years, making it an attractive area
to investors seeking value where nobody else is looking.

3245 Drew Street
GLASSELL PARK, CA 90065

3245 Drew Street

LOCATION

GLASSELL PARK, CA 90065

MARKET AERIAL

Glassell Park
Community Gardens

3245 Drew Street

Alliance Environmental
Science and Technology
High School

Washington Irving
Elementary School

Los Candiles
Night Club

3245 Drew Street

LOCATION

GLASSELL PARK, CA 90065

UPCOMING DEVELOPMENTS

1. The LA River Habitat Restoration Plan – The Civil Works Review
Board of the US Army Corps of Engineers in Washington DC
recently approved a $1.3-billion restoration plan for the Los
Angeles River. An 11-mile stretch of the LA river will be renovated
and repurposed. The plan includes widening of the channel,
restructured channel walls and banks to support vegetation, and
the creation of a riffle and pool system to support freshwater
marsh habitat. As part of the LA River Restoration project, the
city is working to acquire the Taylor Yard G2 Parcel, currently 42
acres of industrial rail yard, and restore the area into a wildlife
habitat. The plan is to have Union Pacific Railway clean up the
soil contamination and if everything goes according to plan, the
parcel could change hands within the next 6 months. The road
has been long and the prize elusive, but its looking like the city is
finally on the cusp of acquiring the so-called “crown jewel” of
the Los Angeles River.
2. 419-unit Luxury Apartment Living Complex has been proposed
by developers who acquired the parcel running along the LA
River known as the Bow Tie Yard. The space was once a thriving
train station for Union Pacific Railway, but has since gone
inactive and allows a potential opportunity for investors to
repurpose. As it stands, developers need the city to grant a
zoning change due to the fact that the parcel is currently
earmarked for heavy manufacturing. However, with over 50
apartments under construction right across from the Bow Tie
Yard, many believe the zoning change with be granted which
will benefit all neighboring Glassell Park residents.
3. 56 Condominium Units in Development – Luxury Condominium
units known as “The River House” are being developed on the
waterfront across from the Bow Tie Yard to meet growing
demand for luxury apartment living in LA. Many units are
expected to be complete before the LA River project finishes,
and a few units have been built already. Residents will be
pioneers, becoming some of the first to own a home on the LA
River and witness its revitalization first hand.

LA River Lofts
56 Condominium Units

Bow Tie Yard – 2800 Casitas Ave
419 Apartment Units

3245 Drew Street

3

2

LA River Restoration Project – “Parcel G2”
48 acres of industrial land to be transformed
Into a wildlife habitat/community park

1

PROPERTY SUMMARY
3245 DREW STREET
GLASSELL PARK
CA 90065

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or
implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.


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