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SOUTHERN CALIFORNIA NEWS
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Unique Bungalow Res Community in L.A.’s Highland Park Sells for over $400k/Unit

5/07/20

The Cottage Club, an iconic rental community consisting of eight stand-alone cottages in L.A.’s Highland Park neighborhood, was acquired by a local 1031 exchange investor for $3.22 mil ($402.5k/unit). The property is located at 336 N Avenue 57, on the west side of the 110 Fwy.

Built in 1921, The Cottage Club is situated on .41 acres and totals 5k sf across eight one-bedroom/one-bathroom freestanding homes. It features private, large landscaped yards, private vegetable garden plots along with generous outdoor common area spaces available for bocce, writing, reading and relaxing.

The Cottage Club is walking distance to the trendy stretch of retail along Figueroa St, includes a variety of coffee shops, boutique stores, bars and restaurant options. It also provides quick access to the Metro Gold Line stop which gives travelers a short traffic-free trip to downtown Los Angeles and Pasadena.

The Cottage Club was sold by Los Angeles-based Dunleer, who acquired the property approximately three years ago and immediately embarked on a major renovation of the community’s exterior landscaping as well as a total transformation of each unit’s Scandinavian-inspired interior. The extensive remodel included the addition of high-end finishes such as Dutch doors, stone counters, stainless steel appliances, and flooring, as well as the installation of a new washer/dryer, among other enhancements.

“This community was the most charming rental product we have ever had in our portfolio,” said BJ Turner, Founder of Dunleer. “Tenants absolutely loved the concept of their own cottage with their own yard, and we feel this product could be in even higher demand in a post-COVID environment.”

Jenny Morant of Compass Real Estate represented the buyer in the deal. Dario Svidler, Morgan McMulin and Patrick Barakat, also with Compass, repped Dunleer.





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