Highland Park, Eagle Rock: The Next Silverlake?

The properties are located in the Highland Park neighborhood of Los Angeles.

LOS ANGELES—Highland Park and Eagle Rock seeing a wave of gentrification similar to Silverlake, and investors are taking note. California Landmark Group has purchased two multifamily properties in the two neighborhoods in a value-add play. These are the investor’s first acquisitions in these markets, but according to Ken Kahan, president of California Landmark Group, this won’t be its last.

“Essentially these neighborhoods are emerging and gentrifying markets, and they have been for some time,” Kahan tells GlobeSt.com. “They are in the process, so they are not nearly as gentrified as nearby markets, like Silverlake, but geographically, they are well suited for change. They are very proximate to Downtown Los Angeles and Pasadena and the other urbanized markets that are just beyond Eagle Rock. You are already seeing the change in the coffee houses, restaurants and stores. These is our first purchase there, but it will certainly not be our last.”