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Tera Rench

terarenchre@gmail.com +1(262) 370-7299

$2,100,000

Est. payment - /mo

7,108 Sqft Lot

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Key Details

Property Type Other Types

Sub Type Apartment

Listing Status Coming Soon

Purchase Type For Sale

MLS Listing ID SB26224115

HOA Y/N No

Year Built 1981

Lot Size 7,108 Sqft

Property Sub-Type Apartment

Property Description

6.11% Cap Rate | 11.01 GRM | Exempt from LA City Rent Control. Built in 1981 and fully renovated in 2024, 4071 Melrose Avenue is subject to California AB 1482 rent increases (5% + CPI) and located in East Hollywood/Virgil Village near Silver Lake. The existing unit mix consists of (5) 1-bed/1-bath units and (1) 2-bed/1-bath unit, featuring interior renovations with in-unit washer/dryers, mini-split HVAC, white oak flooring, custom cabinetry, and GE appliances. Additional features include new exterior stucco, paint, fencing, individual water heaters, and a Ratio Utility Billing System (RUBS). Situated on a 7,110 sq ft lot with up to 10 parking spaces, the property includes plans for two and four ADUs (1,141 sq ft 3B/2B and 716 sq ft 2B/2B) in the rear parking lot. The property also benefits from well-maintained major systems, including roof, plumbing, and electrical.

Location

State CA

County Los Angeles

Area C21 - Silver Lake - Echo Park

Interior

Interior Features Built-in Features, Ceiling Fan(s)

Cooling High Efficiency, Wall/Window Unit(s)

Fireplaces Type None

Fireplace No

Laundry Inside, Stacked

Exterior

Parking Features Assigned

Pool None

Community Features Curbs

Utilities Available Electricity Available, Natural Gas Available, Sewer Available, Water Available

Total Parking Spaces 10

Private Pool No

Building

Lot Description 0-1 Unit/Acre

Story 2

Entry Level Two

Sewer Public Sewer

Water Public

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 5539020032

Acceptable Financing Cash, Cash to New Loan, 1031 Exchange

Listing Terms Cash, Cash to New Loan, 1031 Exchange

Special Listing Condition Standard

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Listed by Robert Sillman Robert Sillman bobby.sillman@gmail.com, DRE #02145409

NEARBY SCHOOL & BUSINESS

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4071 Melrose Ave Los Angeles, CA 90029