4071 Melrose Avenue

Los Angeles CA 90029

7110 sq. ft.

Multi-Family

Currently for sale - view listing

Overview

6.11% Cap Rate | 11.01 GRM | Exempt from LA City Rent Control. Built in 1981 and fully renovated in 2024, 4071 Melrose Avenue is subject to California AB 1482 rent increases (5% + CPI) and located in East Hollywood/Virgil Village near Silver Lake. The existing unit mix consists of (5) 1-bed/1-bath units and (1) 2-bed/1-bath unit, featuring interior renovations with in-unit washer/dryers, mini-split HVAC, white oak flooring, custom cabinetry, and GE appliances. Additional features include new exterior stucco, paint, fencing, individual water heaters, and a Ratio Utility Billing System (RUBS). Situated on a 7,110 sq ft lot with up to 10 parking spaces, the property includes plans for two and four ADUs (1,141 sq ft 3B/2B and 716 sq ft 2B/2B) in the rear parking lot. The property also benefits from well-maintained major systems, including roof, plumbing, and electrical.

Features

3 bedrooms

2 bathrooms

7110 sq. ft. lot size

Multi-Family

Property history for 4071 Melrose Avenue

2023

Sold

$1,385,000

04 Oct 2023 by Dana Brody, of Dana Brody

Happy sellers in Los Angeles

We have insufficient information to provide an overview of customer satisfaction for Los Angeles. Viewing the agent profiles, reviews and sales for Los Angeles can provide insights for this location.