$2,350,000
$75K PRICE DROP

4071 Melrose Ave Unit 1 Los Angeles, CA 90029

East Hollywood Neighborhood

Estimated payment $15,217/month

Total Views 4,529
3 Beds
2 Baths
4,024 Sq Ft
$584 Price per Sq Ft

Highlights

  • No HOA
  • Cooling System Mounted To A Wall/Window
  • Bike Trail
  • John Marshall Senior High Rated A
  • Laundry Room
  • Heating Available

About This Home

5.72% CAP for Renovated, Non-RSO Product! Welcome to 4071 Melrose Avenue, a fully leased and fully renovated 6-unit apartment building located in East Hollywood/Virgil Village, adjacent to Silver Lake. Built in 1981, the property is exempt from LA RSO, subject only to statewide rent control under AB 1482, which allows annual rent increases of 5% + CPI (currently 8.9%). The 4,024 sqft building includes (5) 1-bed/1-bath units and (1) 2-bed/1-bath unit. Situated on a 7,110 sqft lot, there is ample space for up to 4 ADUs in the rear parking area, which accommodates up to 10 cars. Recent 2024 upgrades to the units feature in-unit stacked washer/dryers, mini-split HVAC systems, recessed lighting, stainless steel GE appliances, white oak flooring, custom cabinetry, and designer tile and countertops in the kitchens and bathrooms. Additional improvements include a Ratio Utility Billing System (RUBS) for tenant utility charges, as well as new exterior stucco, paint, and fencing. The property also includes RTI permits for two ADUs: (1) 1,141 sqft 3-bed/2-bath unit and (1) 716 sqft 2-bed/2-bath unit. After constructing the ADUs and factoring in construction costs, the property is projected to operate at a 7.34% cap rate as an 8-unit and 8.65% cap rate as a 10-unit. With its prime location and non-rent controlled status, this property presents an excellent opportunity for local investors seeking a low-maintenance, like-new building with significant value-add potential through RTI plans and the possibility of adding up to 4 ADUs.

Listing Agent

Bobby Sillman

Lyon Stahl Investment Real Estate, Inc. Brokerage Email: bobby@lyonstahl.com License #02145409 Listed on: 06/02/2025

Lyon Stahl Investment Real Estate, Inc.

Co-Listing Agent

Cameron Samimi

Lyon Stahl Investment Real Estate, Inc. Brokerage Email: bobby@lyonstahl.com License #02035763

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1981

Lot Details

  • 7,110 Sq Ft Lot
  • Two or More Common Walls
  • Density is up to 1 Unit/Acre

Home Design

  • Apartment

Interior Spaces

  • 4,024 Sq Ft Home
  • 2-Story Property

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 2 Bathrooms

Laundry

  • Laundry Room
  • Washer and Gas Dryer Hookup

Parking

  • 10 Open Parking Spaces
  • 10 Parking Spaces

Utilities

  • Cooling System Mounted To A Wall/Window
  • Heating Available

Listing and Financial Details

  • Tax Lot 450
  • Tax Tract Number 191
  • Assessor Parcel Number 5539020032
  • Seller Considering Concessions

Community Details

Overview

  • No Home Owners Association
  • 6 Units

Recreation

  • Bike Trail

Building Details

  • 6 Leased Units
  • 6 Separate Electric Meters
  • 6 Separate Gas Meters
  • 1 Separate Water Meter
  • Operating Expense $55,902
  • Gross Income $196,140
  • Net Operating Income $134,353

Property Details

Home Type

Multi-Family

Year Built

Built in 1981

Lot Details

0

Listing Details

  • CapRate: 5.39
  • Price Per Unit: 391667
  • Property Attached: Yes
  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Parcel Number: 5539020032
  • Year Built: 1981
  • AgentOnly_SellerConsiderConcessionYN: Yes
  • Special Features: None

Interior Features

  • Fireplace: No
  • Stories: 2
  • Entry Location: 1
  • Common Walls: 2+ Common Walls
  • Entry Level: 1
  • Levels: Two
  • Price Per Square Foot: 584.00

Exterior Features

  • Pool Private: No

Garage/Parking

  • Total Parking Spaces: 10.00
  • Uncovered Spaces: 10.00

Utilities

  • Heating: Yes
  • Laundry: Yes
  • Heating Type: Electric
  • Laundry Features: Gas Dryer Hookup, Washer Hookup
  • Sewer: Public Sewer
  • Water Source: Public
  • Cooling: Wall/Window Unit(s)
  • Cooling: Yes

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Biking, Curbs

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 0-1 Unit/Acre
  • Lot Size Sq Ft: 7110.00
  • Lot Size Acres: 0.1632
  • Latitude Manual: 34.08391300

Multi Family

  • Gross Income: 196140.00
  • Gross Scheduled Income: 196140.00
  • Lot Size Area: 7110.0000 Square Feet
  • Net Operating Income: 134353.00
  • Number Of Separate Electric Meters: 6
  • Number Of Separate Gas Meters: 6
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 6
  • Number Of Units Total: 6
  • Operating Expense: 55902.00
  • Rent Control: No
  • Total Actual Rent: 15840.00
  • Total Expenses: 55902.00

Tax Info

  • Tax Lot: 450
  • Tax Tract Number: 191...

Map

Range of Values:

Collateral Analytics

Collateral Analytics Collateral Analytics AVMs (Automated Valuation Model) employ a number of statistical approaches combined with neighborhood-specific comparable selection guarantees the most up-to-date and precise valuations.

Not Available

Collateral Analytics does not have data for the current month. Please view the chart for historical values.

ICE

ICE Mortgage Technology ICE Mortgage Technology’s AVM (Automated Valuation Model) is a state-of-the-art online residential property valuation tool that provides a quick and accurate estimate of the value of almost any home in the U.S.

Not Available

ICE Mortgage Technology does not have data for the current month. Please view the chart for historical values.

First American

First American First American Data & Analytics’ next-generation AVM combines unrivaled data assets with a blended ensemble of valuation models to produce highly accurate, reliable valuations you can trust.

Not Available

First American does not have data for the current month. Please view the chart for historical values.

Quantarium

Quantarium Quantarium’s valuation service, repeatedly proven the industry’s most accurate and comprehensive, is supercharged with a self-learning and auto-tuning AI engine that continually becomes smarter and more accurate as it processes daily inputs from the industry’s leading RE data lake.

Not Available

Quantarium does not have data for the current month. Please view the chart for historical values.

Average Value
Not Available
List Price
Sold Price
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area

Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
06/26/2025 06/26/25 Price Changed $2,350,000 -3.1% $584 / Sq Ft
06/02/2025 06/02/25 For Sale $2,425,000 -- $603 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Similar Homes in Los Angeles, CA

  • 4316 Clinton St, Los Angeles, CA 90004

    $1,980,000

    • 2 Beds
    • 2 Baths
    • 4,924 Sq Ft
    • 4316 Clinton St
    • Los Angeles, CA

    Leonardo Laterza of Marcus & Millichap, as an exclusive listing agent is proud to present a prime multifamily investment opportunity at 4316-4320 Clinton St, located just south of Melrose Ave and north of Rosewood Ave, right between Alexandria & Kenmore Ave in one of the most desirable pockets of Los Angeles. This well maintained 6 units apartment building consists of two separate

    Leonardo Laterza Marcus & Millichap RE Invest

    Section Image
  • 144 S Catalina St, Los Angeles, CA 90004

    $2,200,000

    • 1 Bed
    • 20,510 Sq Ft
    • 144 S Catalina St
    • Los Angeles, CA

    Shovel-Ready 46-Unit RTI Development in Prime Koreatown: Incredible opportunity to develop a fully RTI-approved 46-unit 100% affordable housing project in the heart of Koreatown—one of the most dynamic and densely populated rental markets in Los Angeles. The 9,024 SF R3-zoned lot is approved for for 2 two-bedroom, 36 one-bedroom units and 8 studios,, totaling approx. 15,703 SF of rentable space

    Rana Khanjani Sync Brokerage

    Section Image
  • 608 N Rampart Blvd, Los Angeles, CA 90026

    $2,295,000

    • 1 Bed
    • 1 Bath
    • 4,040 Sq Ft
    • 608 N Rampart Blvd
    • Los Angeles, CA

    Seller wants to see offers | Reduced $100,000 | 5.4% CAP* | In-Unit Laundry | In Unit Mini-Split AC | Parking.....We are pleased to present Olive on Rampart, a beautifully curated 7-unit multifamily property ideally located on the border of Echo Park and Silver Lake—two of Los Angeles’ most dynamic and desirable neighborhoods. Originally built in 1924/25 and 1960, the property sits on a

    Jared Levine Keller Williams Realty Calabasas

    Section Image
  • 5510 Lexington Ave, Los Angeles, CA 90038

    $2,350,000

    • 1 Bed
    • 2 Baths
    • 11,956 Sq Ft
    • 5510 Lexington Ave
    • Los Angeles, CA

    Lamlex Lexington is a 20-unit apartment community constructed in 1925. Situated in the Hollywood submarket, the property consists of (16) Studio/One-Bathroom units and (4) One-Bedroom/One-Bathroom units, totaling 480 square feet per unit. The units are separately metered for gas and electric. The property is located minutes away from two major thoroughfares, Santa Monica Blvd, Sunset Blvd, and

    Brent Sprenkle NorthMarq Realty Services, Inc

    Section Image
  • 247 S Carondelet St, Los Angeles, CA 90057

    $1,790,000

    • 2 Beds
    • 2 Baths
    • 1,424 Sq Ft
    • 247 S Carondelet St
    • Los Angeles, CA

    *** 9 Units Apartment Plan has been submitted already!!Good project for investers and contractors. Duplex units with tenants. Plan for 9 units apartments has been submitted already. It would be for multiple units building for 3 studio and 6 3beds/2bath.Don't miss this wonderful opportunity for your development!

    DAVID XU EXCELLENCE RE REAL ESTATE

    Section Image
  • 1802 N Western Ave, Los Angeles, CA 90027

    $2,200,000

    • 2 Beds
    • 2 Baths
    • 6,660 Sq Ft
    • 1802 N Western Ave
    • Los Angeles, CA

    Back on Market and priced reduced : Property located near Los Feliz area. Gated community of 10 individual bungalows built in 1920. Very large lot with tall shady trees down the middle walkway. Each unit has the following: front and back yard, utility room off kitchen, separate dining room, living room, bathroom with 2 entry points, bedroom with 2 walk-in closets. Some units have been upgraded.

    Debrah Johnson WE SELL HOMES REALTY

    Section Image
  • 1140 N Beachwood Dr, Los Angeles, CA 90038

    $2,039,000

    • 2 Beds
    • 10 Baths
    • 5,343 Sq Ft
    • 1140 N Beachwood Dr
    • Los Angeles, CA

    4 UNITS TO BE DELIVERED VACANT! 6.6% CAP AND 10 GRM AT FULL OCCUPANCY! AMAZING VALUE ADD OPPORTUNITY IN THE HEART OF HOLLYWOOD'S STUDIO DISTRICT! 10 LEGAL UNITS WITH SIGNIFICANT INCOME UPSIDE POTENTIAL! 6.6% CAP AT FULL OCCUPANCY! We are pleased to exclusively offer for sale 1140-42 N. Beachwood Drive, a 10 unit apartment building located in the heart of Hollywood's bustling studio district.

    Dana Brody Dana Brody

    Section Image
  • 833 S Mariposa Ave, Los Angeles, CA 90005

    $1,799,997

    • 2 Beds
    • 1 Bath
    • 8,165 Sq Ft
    • 833 S Mariposa Ave
    • Los Angeles, CA

    Huge Price Reduction - Exceptional Art Deco Apartment Building in Prime Los Angeles Location! Discover this distinctive 6-unit apartment building and immerse yourself in its Art Deco design with preserved original details that offer a glimpse into classic Los Angeles style. Each of the 6 two bed, one bath units spans a generous 1,350 square feet, providing ample living space with large closets

    Eric Zimmerman BERKSHIRE HATHAWAY HOMESERVICES Crest Real Estate

    Section Image
  • 1325 Douglas St, Los Angeles, CA 90026

    $2,600,000

    • 1 Bed
    • 1 Bath
    • 3,456 Sq Ft
    • 1325 Douglas St
    • Los Angeles, CA

    Discover this prime investment opportunity in Echo Park with this historic 8-unit apartment building. Built in 1923, each charming 1-bed, 1-bath unit offers cozy living spaces. Totaling 3,456 sq ft on a 7,315 sq ft lot, this property is ideal for those seeking urban convenience. Zoned LARD1.5, it's located near Dodger's Stadium, Tsubaki, The Douglas, El Compadre, Stereoscope Coffee, Lowboy,

    Matias Stofenmacher Edgestone Real Estate, Inc.

    Section Image
See All Homes in Los Angeles

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SB25122589

California Regional Multiple Listing Service (CRMLS)

California Los Angeles County Los Angeles 90004 East Hollywood

4071 Melrose Ave Unit 1, Los Angeles, CA

This home is located at 4071 Melrose Ave Unit 1, Los Angeles, CA 90029 and is currently priced at $2,350,000, approximately $583 per square foot. This property was built in 1981. 4071 Melrose Ave Unit 1 is a home located in Los Angeles County with nearby schools including Dayton Heights Elementary School, Thomas Starr King Middle School Film and Media Magnet, and John Marshall Senior High.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

California Regional Multiple Listing Service (CRMLS) The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.

Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information

Nearby Homes
Listing Agent
Bobby Sillman
Section Image
Lyon Stahl Investment Real Estate, Inc.
(310) 230-5478