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    4071 Melrose Ave Los Angeles, CA 90029

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    For Sale
    $2,350,000

    East Hollywood 6-unit apartment building with ADU potential for sale.

    Property Features for 4071 Melrose Ave

    General Information

    Standard status
    Active

    Building Details

    Year built
    1981

    Source: LYON STAHL INVESTMENT REAL ESTATE, INC. Agent ROBERT SILLMAN

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Renovated Apartment Building with ADU Potential

    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.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Food Market Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Los Angeles
    County
    Los Angeles
    State
    California
    Longitude
    -118.2888887
    Latitude
    34.0837611

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    FAQs

    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 Ave 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.
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    4071 Melrose Ave Los Angeles, CA 90029
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