4061-4069 1/2 Melrose Ave | Los Angeles, CA 90029
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- LoopNet Team
4061-4069 1/2 Melrose Ave
Los Angeles, CA 90029
$211.5K/Unit in Virgil Village | ~66% Upside · Multifamily Property For Sale
·
10 Units
INVESTMENT HIGHLIGHTS
- Outstanding Location in Virgil Village – Trendy Urban Neighborhood with Strong Appeal to Creative Demographic
- Nearly Full Copper Plumbing, Upgraded Electrical System, Newly Paved Driveways, New Sewer and Water Main Lines, Individual Water Heaters
- Attractive Price per Unit and Price per Square Foot Compared to Similar Recent Sales
- Mostly Private Bungalow Units with In-Unit Washer/ Dryers and Dual Entry
- Excellent Repositioning Opportunity – Current Rents Average Only $1.73 per Square Foot and Sit Approximately 66% Below Market
- Earthquake Bolting Completed – No Seismic Retrofit Required (Buyer to Verify)
PROPERTY FACTS
| No. Units | 10 | Building Size | 6,766 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 1 |
| Apartment Style | Low-Rise | Year Built | 1923 |
| Building Class | C | Parking Ratio | 1.48/1,000 SF |
| Lot Size | 0.36 AC | ||
| Zoning | RD1.5, Los Angeles | ||
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.36 AC |
| Building Size | 6,766 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1923 |
| Parking Ratio | 1.48/1,000 SF |
| Zoning | RD1.5, Los Angeles |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 10 | $1,199 | 606 - 960 |
PROPERTY TAXES
| Parcel Number | 5539-020-019 | Improvements Assessment | $1,400,000 |
| Land Assessment | $840,000 | Total Assessment | $2,240,000 |
PROPERTY TAXES
Parcel Number
5539-020-019
Land Assessment
$840,000
Improvements Assessment
$1,400,000
Total Assessment
$2,240,000
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