For Sale
$9,000,000

4318 Melrose AveLos Angeles, CA 90029

Prime East Hollywood location, 7-unit storefront.

Overview

Added:
Dec 11, 2024
Days on market:
113
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.

Highlights

  • $9,000,000 asking price for a 13,540 SF multi-tenant retail storefront building in a prime East Hollywood location.
  • 86% occupancy with seven units, most on short-term gross leases.
  • Excellent investment opportunity in a trendy neighborhood near popular restaurants and entertainment venues.
  • Convenient location near the 101 freeway and two Metro Red Line stations, providing easy access throughout Los Angeles.
  • Property consists of two parcels totaling 13,540 sq ft on a 27,526 sq ft lot, zoned LAR3-1 and LAC2-1, with 38 parking spaces.

Property Details for 4318 Melrose Ave

Property type
Retail properties, Retail space
Square Feet
13,540 SF
Year Built
1908
Buildings
1
Stories
1
Units
7

Location Insight

City
Los Angeles
County
Los Angeles
State
California
Latitude
34.0833701
Longitude
-118.2949136
4318 Melrose Ave, Los Angeles, California

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
4318 Melrose Ave
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message