4071 Melrose Ave | Los Angeles, CA 90029
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- LoopNet Team
4071 Melrose Ave
Los Angeles, CA 90029
Multifamily Property For Sale
·
6 Units
Investment Highlights
- Prime East Hollywood/Virgil Village location, adjacent to Silver Lake
- Built in 1981 - Not Subject to LA RSO | 5% + CPI Annual Rent Increases
- RTI Plans for 2 ADUs - (1) 3-bed/2-bath & (1) 2-bed/2-bath unit
- Fully Renovated 6-Unit: (5) 1-bed/1-bath & (1) 2-bed/1-bath
- Unit Renovations - stacked washer/dryers, mini-split HVAC systems, stainless steel GE appliances, white oak flooring & designer finishes
- After building the ADUs and factoring in construction costs, the property will operate at a 7.39% CAP as an 8-unit and 8.65% CAP as a 10-unit
Property Facts
| No. Units | 6 | Lot Size | 0.16 AC |
| Property Type | Multifamily | Building Size | 4,024 SF |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built | 1981 |
| Building Class | C | Parking Ratio | 1.74/1,000 SF |
| Zoning | LARD1.5 | ||
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 4,024 SF |
| No. Stories | 2 |
| Year Built | 1981 |
| Parking Ratio | 1.74/1,000 SF |
| Zoning | LARD1.5 |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Washer/Dryer
- Ceiling Fans
- Eat-in Kitchen
- Kitchen
- Stainless Steel Appliances
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 5 | $2,609 | 650 |
| 2+1 | 1 | $3,000 | 774 |
Property Taxes
| Parcel Number | 5539-020-032 | Improvements Assessment | $387,600 |
| Land Assessment | $1,025,100 | Total Assessment | $1,412,700 |
Property Taxes
Parcel Number
5539-020-032
Land Assessment
$1,025,100
Improvements Assessment
$387,600
Total Assessment
$1,412,700
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