Deal numbers

A cap rate estimate is not available for this property yet. Ask Alex for a pro forma using comparable rent data.

Property details

Type

Apartment

Bedrooms

6

Building size

4,024 sqft

Lot size

7,110 sqft

Year built

1981

Stories

2

Garage spaces

0

Cooling

Wall/Window Unit(s),High Efficiency

Pool

None

Status

Active

Days on market

0

MLS #

248691857

About this property

6.11% Cap Rate | 11.01 GRM | Exempt from LA City Rent Control. Built in 1981 and fully renovated in 2024, 4071 Melrose Avenue is subject to California AB 1482 rent increases (5% + CPI) and located in East Hollywood/Virgil Village near Silver Lake. The existing unit mix consists of (5) 1-bed/1-bath units and (1) 2-bed/1-bath unit, featuring interior renovations with in-unit washer/dryers, mini-split HVAC, white oak flooring, custom cabinetry, and GE appliances. Additional features include new exterior stucco, paint, fencing, individual water heaters, and a Ratio Utility Billing System (RUBS). Situated on a 7,110 sq ft lot with up to 10 parking spaces, the property includes plans for two and four ADUs (1,141 sq ft 3B/2B and 716 sq ft 2B/2B) in the rear parking lot. The property also benefits from well-maintained major systems, including roof, plumbing, and electrical.

Location

4071 Melrose Ave

Los Angeles, Los Angeles, CA, 90029