4071 Melrose Avenue
Los Angeles, CA 90029
- – beds
- – baths
- – sqft
- 7,110 sqft lot
- 1981 build
- – on site
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.
Last checked:
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Last updated May 1, 2025
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MLS# SB25000692 —
The Building
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Year Built:1981
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Year Built Source:Assessor
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New Construction:No
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Building Area Total:4024.00
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Building Area Units:Square Feet
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Total Number Of Units:6
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# of Buildings:1
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Stories Total:2
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Entry Level:1
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Common Walls:2+ Common Walls
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# of Separate Gas Meters:6
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# of Separate Water Meters:1
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# of Separate Electric Meters:6
Interior
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Levels:Two
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Entry Location:1
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Fireplace:No
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Fireplace:None
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Laundry:Gas Dryer Hookup, Washer Hookup
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Laundry:1
Location
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Directions:On North side of Melrose Ave between N Madison Ave and Virgil Ave
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Latitude:34.08391300
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Longitude:-118.28888500
The Property
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Property Type:Residential Income
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Subtype:Apartment
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Lot Features:0-1 Unit/Acre
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Lot Size Area:7110.0000
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Lot Size Acres:0.1632
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Lot Size SqFt:7110.00
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Lot Size Source:Assessor
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Property Attached:1
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Additional Parcels:No
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Land Lease:No
Listing Agent
- Contact info:
- No listing contact info available
Taxes
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Tax Tract:191...
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Tax Lot:450
The Listing
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Special Listing Conditions:Standard
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Parcel Number:5539020032
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Showings Begin:2025-01-06
Heating & Cooling
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Heating:1
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Heating:Electric
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Cooling:Yes
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Cooling:Wall/Window Unit(s)
Utilities
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Sewer:Public Sewer
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Water Source:Public
The Community
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Features:Biking, Curbs
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Association:No
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Pool:None
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Senior Community:No
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Private Pool:No
Parking
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Parking Spaces:10.00
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Uncovered Spaces:10.00
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Transit Score®
Provided by WalkScore® Inc.
Transit Score measures a location's access to public transit. It is based on nearby transit routes frequency, type of route (bus, rail, etc.), and distance to the nearest stop on the route. Transit Scores range from 0 (Minimal Transit) to 100 (Rider’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
4/30/25
Apr 30, 2025
|
Price Changed | CRMLS_CA | $2,425,000 | -4.9% |
|
4/28/25
Apr 28, 2025
|
Price Changed | CRMLS_CA | $2,549,000 | -0.0% |
|
4/23/25
Apr 23, 2025
|
Price Changed | CRMLS_CA | $2,550,000 | -3.8% |
