Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    4318 Melrose Ave Los Angeles, CA 90029-3511
    Back to Search
    Property profile & analytics

    4318 Melrose Ave, Los Angeles, CA 90029-3511

    View on Map
    • Turn key restaurants
    • 13,540 SF
    • 0.41 lot acres
    Off-Market
    Last Sale May 10, 2021
    Property ID
    US09-7692688
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $730,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Salon El Paraiso / Hotel & Motel / Resort

    Property Details for 4318 Melrose Ave

    Year built
    1908
    Lot size
    0.41 lot acres
    Zone code
    LAC2
    Property type
    Turn key restaurants
    APN
    5538-030-019
    APU
    5538030019

    Description

    This exceptional investment opportunity presents a 13,540 square foot, multi-tenant retail building situated on a 27,526 square foot lot at the corner of Melrose Avenue and Heliotrope Drive in Los Angeles, CA 90029. The property, built in 1908, features seven units, currently 86% occupied with short-term gross leases. Popular tenants include The Museum of Love and a fondue/pizza restaurant. The property boasts a dedicated parking lot with nine spaces, plus an additional 29 spaces across an alley, totaling 38 parking spaces. Zoned LAR3-1 and LAC2-1, this prime location offers unparalleled access to major freeways (101) and public transportation (Metro Red Line), connecting it to Downtown LA and North Hollywood. The vibrant East Hollywood neighborhood is bordered by Hollywood, Silver Lake, Los Feliz, and Koreatown, placing it within minutes of iconic landmarks like Dodger Stadium, Hollywood Bowl, and Griffith Park. The area is known for its trendy dining scene, including nearby Virgil Village, and is further enhanced by a neighboring theater and art gallery. This property presents a compelling investment opportunity in a rapidly growing and highly desirable Los Angeles neighborhood. The asking price is $9,000,000, with a price per square foot of $664.70. The property's APN is 5538-030-013; 5538-030-019.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Los Angeles
    County
    Los Angeles
    State
    California
    Longitude
    -118.295
    Latitude
    34.0833
    CBSA code
    31080
    CBSA name
    LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $19,631
    $1,023,116
    $434,288
    $1,457,404
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $815,000
      4,716 SF

      1001 Western Ave

      RESTAURANT
      1001 Western Ave, Los Angeles, CA 90029
      View Details
    • Value Estimation
      $1,075,000
      6,888 SF

      4955 Santa Monica Blvd

      RESTAURANT
      4955 Santa Monica Blvd, Los Angeles, CA 90029
      View Details
    • Value Estimation
      $550,000
      5,736 SF

      3903 Sunset Blvd

      RESTAURANT
      3903 Sunset Blvd, Los Angeles, CA 90029-2241
      View Details
    • Value Estimation by Request
      1,200 SF

      4114 Santa Monica Blvd

      RESTAURANT
      4114 Santa Monica Blvd, Los Angeles, CA 90029-3026
      View Details
    • Value Estimation by Request
      1,138 SF

      3920 Fountain Ave

      RESTAURANT
      3920 Fountain Ave, Los Angeles, CA 90029-2218
      View Details
    • Value Estimation
      $9,800,000
      40,709 SF

      800 Vermont Ave

      RESTAURANT
      800 Vermont Ave, Los Angeles, CA 90029-3517
      View Details

    Similar Nearby for Sale

    • $999,900

      Versatile Commercial Building with Income Potential

      Standalone commercial building suitable for retail, cafe, office, or boutique.
      3925 Fountain Ave, Los Angeles, CA 90029
      View Details
    • Contact for pricing

      Versatile Commercial Building with Dual Entrances

      Standalone commercial building suitable for retail, office, cafe, and more.
      3925 Fountain Ave, Los Angeles, CA 90029
      View Details
    • $1,999,900
      2,639 SF

      Hollywood Commercial/Residential Mixed-Use Property

      Mixed-use property in Hollywood with retail and residential units.
      1108 N Kenmore Ave, Los Angeles, CA 90029
      View Details
    • $25,500,000
      14,139 SF

      Sunset Junction Mixed-Use Investment

      Mixed-use property in Sunset Junction with retail and residential spaces.
      3924 W Sunset Blvd, Los Angeles, CA 90029
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Versatile Commercial Space in Prime Location

      Updated commercial space with open layout in high-traffic area.
      1620 S Hoover St, Los Angeles, CA 90029
      View Details
    • Contact for pricing

      Retail Space in East Hollywood

      Retail space available for lease in a high-traffic area.
      4621 Santa Monica Blvd, Los Angeles, CA 90029
      View Details
    • Contact for pricing

      Retail/Office Space on Western Avenue

      Located on a prominent artery with high traffic and dense population.
      1110 N Western Ave, Los Angeles, CA 90029
      View Details
    • Contact for pricing
      2,180 SF

      Melrose Avenue Retail Spaces Available

      Retail spaces available in Melrose Hill & East Hollywood.
      4864 Melrose Ave, Los Angeles, CA 90029
      View Details
    • Contact for pricing

      Retail Space in Sunset Junction

      Prime retail space available for rent in Silverlake/Sunset Junction.
      4001 Sunset Blvd, Los Angeles, CA 90029
      View Details
    • Contact for pricing

      Retail Space Available For Rent

      Retail space available for rent in Los Angeles, CA 90029.
      1167 N Western Ave, Los Angeles, CA 90029
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    4318 Melrose Ave
    Los Angeles, CA 90029-3511
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    4318 Melrose Ave, Los Angeles, CA, 90029
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!