There has been quite the surge in new construction hitting the Northeast Los Angeles real estate market lately, particularly in Glassell Park. Glassell Park real estate continues to be popular with home seekers who love the area and the views but are priced out of the costlier Eagle Rock real estate market.
Glassell Park, which is boxed between Glendale, Eagle Rock, Atwater Village and Elysian Valley has seen a resurgence of interest after Eagle Rock began to gentrify seven or eight years ago. Because it is a hilly neighborhood, many homes in the area have spectacular views. .
First we saw a development of four homes by 4site Real Estate, designed by Holz Architecture, located in the hills of Glassell Park at 4239-4243 Scandia Way. Featuring panoramic views, vaulted ceilings, and walls of glass, these modern homes started at $889,000 and went up to $959,000. As of Fall of 2013, three have sold and the fourth is currently in escrow.
Next to hit the market is the latest from Heyday (who were behind the Rock Row project in Eagle Rock). Peak Place is a development of 6 fee-simple single-family homes located at 3510 N Fletcher in Glassell Park. Each home has 3 bedrooms, 2 baths and is about 1,900 sq. ft. in size, with a private courtyard for its outdoor space. These homes have achieved the LEED Gold status with their sustainable features, from tankless water heaters to high efficiency furnaces. As of Fall 2013, asking prices range from $625,000 to $640,000.
And soon to come is the North East Los Angeles Union development, which is currently under construction. This is a development of 52 modern homes located on Eagle Rock Boulevard in Glassell Park. With a range of floor plans, from 2 bedrooms to 4 bedrooms, the asking prices will range from the upper-$400s to the low-$600s.