4071 Melrose Avenue #1, Los Angeles, CA 90029 - Berkshire Hathaway HomeServices California Properties

4071 Melrose Avenue #1, Los Angeles, CA 90029

$2,425,000 Approx. USD 0 beds, 0 baths

Listing Agent


Robert Sillman | bobby@lyonstahl.com
Lic#: 02145409
Broker: Courtesy of Lyon Stahl Investment Real Estate, Inc.

Co Listing Agent


Cameron Samimi | cameron@lyonstahl.com
Lic#: 02035763
Broker: Courtesy of Lyon Stahl Investment Real Estate, Inc.

Agent Remarks

MOTIVATED SELLERS - $325,000 PRICE REDUCTION! 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 exempt from LA RSO, subject only to statewide rent control under AB 1482, which allows annual rent increases of 5% + CPI (approximately 8.9%). The 4,024 sqft building includes (5) 1-bed/1-bath units and (1) 2-bed/1-bath unit. Situated on a 7,110 sqft lot, there is ample space for up to 4 ADUs in the rear parking area, which accommodates up to 10 cars. Recent 2024 upgrades to the units feature 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) for tenant utility charges, as well as new exterior stucco, paint, and fencing. The property also includes RTI permits for two ADUs: (1) 1,141 sqft 3-bed/2-bath unit and (1) 716 sqft 2-bed/2-bath unit. After constructing the ADUs and factoring in construction costs, the property is projected to operate at a 7.27% cap rate as an 8-unit and 8.34% cap rate as a 10-unit. With its prime location and non-rent controlled status, this property presents an excellent opportunity for local investors seeking a low-maintenance, like-new building with significant value-add potential through RTI plans and the possibility of adding up to 4 ADUs.

Listing Details

Property type: Apartment (Multi-Family)
Status: Active
MLS# SB25000692
List price is $2,425,000 Reduced by $124,000 on 4/30/2025
Price: $2,425,000
HOA Fee is $0.00
Beds: 0
Baths: 0
None fireplaces
Built in 1981
2 stories
0.16 acres
Lot size: 0.1632
County: Los Angeles
Lot description: ZeroToOneUnitAcre
Heating/cooling: Wall/Window Unit(s)
Heating description: Electric
MLS area: C21 - Silver Lake - Echo Park

Last Updated: 4/30/2025

 Days On Market (DOM): 123

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This listing belongs to the C21 - Silver Lake - Echo Park MLS area

Lat/Long: 34.083913, -118.288885.
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DISCLAIMER: There is NO WARRANTY, expressed or implied, for the accuracy of this information or its applicability to your financial situation. Please consult your financial and/or tax advisor. GET PRE-APPROVED The loan's interest rate will depend upon the specific characteristics of the loan transaction and credit profile up to the time of closing.

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