52
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$2,750,000
Est. payment /mo
Active
4071 Melrose AVE Los Angeles, CA 90029
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Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRSB25000692
Originating Board California Regional MLS
Year Built 1981
Lot Size 7,110 Sqft
Property Description
Welcome to 4071 Melrose Avenue, a fully leased and fully renovated 6-unit apartment building located in East Hollywood/Virgil Village adjacent to Silver Lake. Built in 1981, the property is not subject to LA RSO, only statewide rent control AB 1482, which allows for annual rent increases of 5% + CPI (approx. 8.9%). The 4,024 sqft building features (5) 1-bed/1-bath units and (1) 2-bed/1-bath and is complemented by a large 7,110 sqft lot that offers space for up to 4 ADUs in the rear parking lot that fits up to 10 cars. Recent 2024 upgrades to the units comprise of in-unit stacked washer/dryers, mini-split HVAC systems, recessed lighting, stainless steel GE appliances, white oak flooring, custom cabinetry, and designer tile and countertops in the kitchens and bathrooms. Additional improvements include a Ratio Utility Billing System (RUBS) that charges tenants back for their share of utilities, and new exterior stucco, painting, and fencing. Beneficial to the buyer, there are RTI permits for 2 ADUs, (1) 1,141 sqft 3-bed/2-bath & (1) 716 sqft 2-bed/2-bath unit. After building the ADUs and factoring in construction costs, the property will operate at a 6.42% CAP as an 8-unit and 7.48% CAP as a 10-unit. With its prime location, this non-rent controlled property offers an excellent oppo
Location
State CA
County Los Angeles
Area C21 - Silver Lake - Echo Park
Interior
Heating Electric
Cooling Window / Wall Unit
Laundry Gas Hookup, 30
Exterior
Garage Spaces 10.0
Pool None
Building
Water District - Public
Others
Tax ID 5539020032
Special Listing Condition Not Applicable
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Listed by Robert Sillman • Lyon Stahl Investment Real Estate, Inc.