Renovated Apartment Building with ADU
For Sale
$2,350,000
4071 Melrose Avenue, Los Angeles, CA 90029
East Hollywood 6-unit apartment building with ADU potential for sale.
Days on Market418
Property Features for 4071 Melrose Avenue
General Information
Standard status
Active
Building Details
Year Built
1981
Listing Agency:
LYON STAHL INVESTMENT REAL ESTATE, INC.
Listed By:
ROBERT SILLMAN
Source:
Corcoran
Added: Jun 9, 2025
Changed: Mar 16
Last Checked: Mar 16 at 9:09AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of LYON STAHL INVESTMENT REAL ESTATE, INC.
Investment Insights
Based on property information with market context.
Located in East Hollywood/Virgil Village, adjacent to Silver Lake, 4071 Melrose Avenue is a fully leased and renovated 6-unit apartment building. Constructed in 1981, the property is exempt from LA RSO and subject to statewide rent control under AB 1482. The 4,024 sqft building features five 1-bed/1-bath units and one 2-bed/1-bath unit, situated on a 7,110 sqft lot. The rear parking area accommodates up to 10 cars and offers space for up to 4 ADUs. Recent upgrades in 2024 include 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 feature a Ratio Utility Billing System (RUBS) for tenant utility charges, along with new exterior stucco, paint, and fencing. The property includes RTI permits for two ADUs: one 1,141 sqft 3-bed/2-bath unit and one 716 sqft 2-bed/2-bath unit. The property is projected to operate at a 7.34% cap rate as an 8-unit and 8.65% cap rate as a 10-unit after ADU construction and factoring in construction costs. The property is currently operating at a 5.72% CAP.
Key Highlights
- 5.72% CAP rate for a fully leased, renovated 6‑unit building.
- Exempt from LA RSO, subject only to AB 1482, allowing for annual rent increases.
- RTI permits in place for two ADUs, projecting significantly higher cap rates upon completion.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,316
Businesses Nearby
Explore this area
Business Placement
Demographics for 90029, CA
34,695
Population
14,465
Households
2.4
Avg Household Size
37
Median Age
36%
College-Educated
76%
High-School Grad
1.4 sq mi
ZIP Area
24,782
Density / Sq Mi
$60,793
Median Household Income
$35,801
Median Earnings
$1,644
Median Rent
$1,066,200
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Apartment building - East Hollywood 6-unit apartment building with ADU potential for sale.
Where is this apartment building located?
The property is located at 4071 Melrose Avenue Los Angeles, CA.
What is the asking price?
The asking price for this property is $2,350,000.
What are key features of this property?
This property features: 5.72% CAP rate for a fully leased, renovated 6‑unit building.; Exempt from LA RSO, subject only to AB 1482, allowing for annual rent increases.; RTI permits in place for two ADUs, projecting significantly higher cap rates upon completion.
