$1,420,000
$1,420,000
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4,098 SqFt
SOLD DATE : 01/27/2022
Key Details
Sold Price $1,420,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 4,098 sqft
Price per Sqft $346
MLS Listing ID 21784542
Sold Date 01/27/22
HOA Y/N No
Year Built 1913
Lot Size 7,980 Sqft
Acres 0.1832
Property Description
4362 Melrose Ave is a 5 Unit mixed use asset located in East Hollywood. The property consists of four(4) one-bedroom units and one(1) 1,260 sqft commercial unit. The commercial unit is currently on a month to month lease with a church. This property is ideal for an investor, or owner/user, to achieve higher than average rents and still add value with 18% upside in current rents. This property also has development friendly LAC2 zoning in both an OPPORTUNITY ZONE and a TIER 3 T.O.C bonus density. 4362 Melrose Ave is a 4 minute walk to Los Angeles City College and is situated for convenient access to the 101(Hollywood) Freeway. Please do not disturb the tenants. All showings will be subject to an accepted offer.
Location
State CA
County Los Angeles
Area C21 - Silver Lake - Echo Park
Zoning LAC2
Interior
Heating None
Cooling WallWindowUnits
Fireplace No
Exterior
Garage OnStreet
Parking Type OnStreet
Building
Faces North
New Construction No
Others
Senior Community No
Tax ID 5538031026
Special Listing Condition Standard
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Bought with Nicole Kilmer • Figure 8 Realty