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$8,900,000
Est. payment /mo
13,540 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Comm Ind For Sale
Listing Status Active
Purchase Type For Sale
Square Footage 13,540 sqft
Price per Sqft $657
MLS Listing ID CL25514283
HOA Y/N No
Year Built 1908
Lot Size 0.632 Acres
Acres 0.63
Property Sub-Type Comm Ind For Sale
Property Description
We are proud to present an exceptional investment and land banking opportunity at 4318 Melrose Avenue and 658 Heliotrope Drive, offered at $8,900,000-$7,400,000 for the Melrose store-front retail center and $1,500,000 for the Heliotrope parcel. Situated on a combined 27,526 SF lot with LAC2 and LAR3 zoning, the property allows for a future development of up to 132 residential units (77 on Melrose and 55 on Heliotrope). The existing improvements include a 13,540 SF multi-tenant retail and office building with seven units, two currently vacant, offering strong income potential and immediately expiring leases that allow for favorable renegotiation. The Heliotrope parcel serves as dedicated tenant parking with 38 total spaces. Strategically positioned at a high-visibility corner, the property is just two blocks from the 101 Freeway and between two Metro Red Line stations, ensuring excellent accessibility. Surrounded by the vibrant Virgil Village dining scene, Erewhon Silver Lake, and cultural hotspots, this offering presents an unparalleled opportunity for investors seeking strong cash flow, value-add potential, and long-term redevelopment in one of Los Angeles' most dynamic neighborhoods.
Location
State CA
County Los Angeles
Zoning LAC2
Interior
Fireplace No
Exterior
Total Parking Spaces 38
Building
New Construction No
Others
Tax ID 5538030019
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Listed by Oron Maher • Maher Commercial Realty