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4362 Melrose Ave

Los Angeles, CA 90029
  • $1,420,000
  • STATUS: Active Under Contract
  • ON SITE: 34 Days
  • MLS #: 21-784542
Under Contract
UPDATED: 56 min ago
$1,420,000
  • 4
    BEDS
  • 0.18
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 4,098
    SQFT
  • $347
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1913
County:

School Ratings & Info

Description

4362 Melrose Ave is a 5 Unit mixed use asset located in East Hollywood. The property consists of four(4) one-bedroom units and one(1) 1,260 sqft commercial unit. The commercial unit is currently on a month to month lease with a church. This property is ideal for an investor, or owner/user, to achieve higher than average rents and still add value with 18% upside in current rents. This property also has development friendly LAC2 zoning in both an OPPORTUNITY ZONE and a TIER 3 T.O.C bonus density. 4362 Melrose Ave is a 4 minute walk to Los Angeles City College and is situated for convenient access to the 101(Hollywood) Freeway. Please do not disturb the tenants. All showings will be subject to an accepted offer.

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-10-21T09:42:29.337. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
www.jelmbergteam.com/homes/121495314
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4362 Melrose Ave Los Angeles, CA 90029

  • Price: $1,420,000
  • Status: Active Under Contract
  • Updated: 56 min ago
  • MLS #: 21-784542
4
Beds
0
Baths
0
½ Baths
0.18
Acres
4,098
SQFT
$347
$/SQFT
1913
Built
Neighborhood:
Silver Lake - Echo Park
County:
Los Angeles
Area:
Silver Lake - Echo Park
Property Description
4362 Melrose Ave is a 5 Unit mixed use asset located in East Hollywood. The property consists of four(4) one-bedroom units and one(1) 1,260 sqft commercial unit. The commercial unit is currently on a month to month lease with a church. This property is ideal for an investor, or owner/user, to achieve higher than average rents and still add value with 18% upside in current rents. This property also has development friendly LAC2 zoning in both an OPPORTUNITY ZONE and a TIER 3 T.O.C bonus density. 4362 Melrose Ave is a 4 minute walk to Los Angeles City College and is situated for convenient access to the 101(Hollywood) Freeway. Please do not disturb the tenants. All showings will be subject to an accepted offer.
Exterior Features

Direction Faces North Lot Size Area 7982 Other Structures None Parking Garage On Street Total Parking 0

Interior Features

Baths Total 4.00 Cooling Wall/Window Equipment None Heating None

Property Features

Assessed Total Value 575504 Gross Income 93456 Gross Operating Income 93456 Like Units1 1 Like Units2 1 Like Units3 1 Like Units4 1 Like Units5 1 Net Operating Income 54614.00 Number Of Buildings 3 Number Of Units 5 Sale Type Standard Source Living Area Title Company Source Lot Size Area Vendor Enhanced Total Annual Expense 36039 Type Of Units Mixed Use Water Heaters YN Yes Year Built Source Vendor Enhanced Zoning Lac2

Listing provided courtesy of Chase Simonton DRE#01766871 of Re/Max One.


Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-10-21T09:42:29.337. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
 
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