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$2,000,000
Est. payment /mo
9,320 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 9,320 sqft
Price per Sqft $214
MLS Listing ID CL26648059
HOA Y/N No
Year Built 1958
Lot Size 0.253 Acres
Acres 0.2533
Property Sub-Type Other
Property Description
Fantastic 12 unit building that has been in the same family since it was built in 1958. The property features a desirable unit mix of 10 spacious (1Br+1Ba) units and 2 (2Br+2Ba) with an average unit size of 775 SF. Offered at under 9.82 GRM on current rents and under $214/SF, the property stands out as an excellent "value add" opportunity with appx. 69% upside in rents, NOT including ADU potential. The property has seismic retrofitting and tuck under and carport parking with ADU potential (Buyer to verify). A new roof was installed in 2025. Laundry and storage rooms in the rear. The property is located just south of Melrose Avenue in the heart of Melrose Hill. Excellent access to LA City College, as well as major employment and lifestyle hubs, including post-production studios, creative office corridors, and media companies, and is only minutes from Paramount Studios. Its central location provides convenient connectivity to Hollywood, Koreatown, Silver Lake and DTLA, making it highly attractive to professionals in the entertainment, tech, and creative sectors! With a Walk Score of 86 ("Very Walkable"), tenants enjoy easy access to nearby restaurants, cafes, and the Metro B Line. Call for a rent roll and marketing package.
Location
State CA
County Los Angeles
Zoning LAR3
Interior
Heating Natural Gas, Wall Furnace
Flooring Laminate, Tile
Fireplace No
Laundry Common Area, Laundry Room
Exterior
View Y/N true
View City Lights, Mountain(s)
Building
Water Other
New Construction No
Others
Tax ID 5521008003
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Listed by Dana Coronado • Compass
NEARBY SCHOOL & BUSINESS
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