4071 Melrose Avenue, Los Angeles, CA 90029

Building Details

Year Built

1981

Listing agent ROBERT SILLMAN

Listing office LYON STAHL INVESTMENT REAL ESTATE, INC.

Listing date Jun 9, 2025

Source Corcoran

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.

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Overview

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.

Suggested Use

Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Grocery & Convenience Store

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

-118.289

Latitude

34.0838

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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 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.