4071 Melrose Avenue
Los Angeles, CA 90029
- – beds
- – baths
- – sqft
- 7,110 sqft lot
- 1981 build
- – on site
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 opportunity for a local investor seeking a low-maintenance, like-new building with value-add potential through RTI plans and the possibility of adding up to 4 ADUs via SB 1211. Buyer to investigate & verify all information, including, but not limited to, bed/bath count, square footages, permits, rent control, ADUs, and potential uses.
Last checked:
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Last updated Jan 6, 2025
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MLS# SB25000692 —
The Building
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Year Built:1981
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Year Built Source:Assessor
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New Construction:No
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Building Area Total:4024.00
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Building Area Units:Square Feet
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Total Number Of Units:6
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# of Buildings:1
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Stories Total:2
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Entry Level:1
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Common Walls:2+ Common Walls
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# of Separate Gas Meters:6
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# of Separate Water Meters:1
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# of Separate Electric Meters:6
Interior
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Levels:Two
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Entry Location:1
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Fireplace:No
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Fireplace:None
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Laundry:Gas Dryer Hookup, Washer Hookup
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Laundry:1
Location
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Directions:On North side of Melrose Ave between N Madison Ave and Virgil Ave
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Latitude:34.08391300
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Longitude:-118.28888500
The Property
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Property Type:Residential Income
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Subtype:Apartment
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Lot Features:0-1 Unit/Acre
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Lot Size Area:7110.0000
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Lot Size Acres:0.1632
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Lot Size SqFt:7110.00
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Lot Size Source:Assessor
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Property Attached:1
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Additional Parcels:No
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Land Lease:No
Listing Agent
- Contact info:
- No listing contact info available
Taxes
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Tax Tract:191...
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Tax Lot:450
The Listing
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Special Listing Conditions:Standard
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Parcel Number:5539020032
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Showings Begin:2025-01-06
Heating & Cooling
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Heating:1
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Heating:Electric
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Cooling:Yes
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Cooling:Wall/Window Unit(s)
Utilities
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Sewer:Public Sewer
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Water Source:Public
The Community
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Features:Biking, Curbs
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Association:No
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Pool:None
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Senior Community:No
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Private Pool:No
Parking
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Parking Spaces:10.00
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Uncovered Spaces:10.00
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Transit Score®
Provided by WalkScore® Inc.
Transit Score measures a location's access to public transit. It is based on nearby transit routes frequency, type of route (bus, rail, etc.), and distance to the nearest stop on the route. Transit Scores range from 0 (Minimal Transit) to 100 (Rider’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
1/6/25
Jan 6, 2025
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Listed / Active | CRMLS_CA | $2,750,000 | 98.6% (78.2% / YR) |
|
10/23/24
Oct 23, 2024
|
Price Changed | CRMLS_CA | ||
|
9/18/24
Sep 18, 2024
|
Price Changed | CRMLS_CA |
