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$2,100,000
Est. payment /mo
3 Beds
2 Baths
7,110 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID SB26224115
Bedrooms 3
Lot Size 7,110 Sqft
Property Sub-Type Res Income 2-4 Units
Property Description
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.
Location
State CA
County Los Angeles
Zoning Assessor
Direction Located on Melrose Ave between Virgil Ave and Madison Ave
Interior
Cooling Wall/Window
Fireplace No
Exterior
View Y/N No
Building
Story 2
Level or Stories 2
Others
Senior Community No
Tax ID 5539020032
Acceptable Financing Cash, Exchange
Listing Terms Cash, Exchange
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Listed by Robert Sillman, DRE#02145409 Robert Sillman
Co-listed byCameron Samimi • Lyon Stahl Investment Real Estate, Inc.
Co-listed byCameron Samimi • Lyon Stahl Investment Real Estate, Inc.
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