658-662 N Heliotrope Dr | 4318-4330 Melrose Ave
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658-662 N Heliotrope Dr 4318-4330 Melrose Ave
13,540 SF Vacant Retail Building Los Angeles, CA 90029 $9,000,000 ($665/SF)
Investment Highlights
- Corner Lot
- Heavy daytime traffic
- Close to Los Angeles City College
- Signaled four way intersection
- Close to the Metro
Executive Summary
WESTMAC Commercial Brokerage Company is pleased to offer the opportunity to acquire 4318 Melrose Avenue and 658 Heliotrope Drive, two parcels totaling 13,540 SF of building on 27,526 SF of land. The subject property is a multi-tenant building with a dedicated parking lot, as well as an additional parking lot across an alley. The parcels are zoned LAR3 and LAC2. This is an excellent investment opportunity for someone looking to own property in a vibrant Los Angeles neighborhood.
The subject property is located on the corner of Melrose Avenue and Heliotrope Drive, just two blocks from the 101 freeway. The building is comprised of seven units, all leased except for one vacancy. The tenants are on short-term gross leases. The parking lot behind The Museum of Love contains nine spaces and the lot across the alley contains 29 spaces, for a total of 38 spaces.
The subject property is centrally located within Los Angeles, and given its proximity to the 101 freeway, easily accessible from throughout the city. Additionally, it is sandwiched between two Metro Red Line stations, connecting it to Downtown LA and North Hollywood. Los Angeles landmarks such as Dodger Stadium, Hollywood Bowl, and Griffith Park are all within 10 minutes of the subject property.
The subject property is located on the corner of Melrose Avenue and Heliotrope Drive, just two blocks from the 101 freeway. The building is comprised of seven units, all leased except for one vacancy. The tenants are on short-term gross leases. The parking lot behind The Museum of Love contains nine spaces and the lot across the alley contains 29 spaces, for a total of 38 spaces.
The subject property is centrally located within Los Angeles, and given its proximity to the 101 freeway, easily accessible from throughout the city. Additionally, it is sandwiched between two Metro Red Line stations, connecting it to Downtown LA and North Hollywood. Los Angeles landmarks such as Dodger Stadium, Hollywood Bowl, and Griffith Park are all within 10 minutes of the subject property.
Financial Summary (Actual - 2022) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
-
|
-
|
Financial Summary (Actual - 2022) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
13,540 SF
Building Class
C
Year Built
1908
Price
$9,000,000
Price Per SF
$665
Percent Leased
Vacant
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.76
Lot Size
0.41 AC
Opportunity Zone
Yes
Zoning
LAC2-1, LAR3-1 - Commercial
Parking
12 Spaces (0.89 Spaces per 1,000 SF Leased)
Frontage
121 FT on E Melrose Ave
Amenities
- Signalized Intersection
Space Availability
- Space
- Size
- Space Use
- Position
- Available
The subject property is directly off the 101 freeway, making it easily accessible from other areas of Los Angeles. It is sandwiched between two Metro stops on the Red Line, which connects Downtown LA to North Hollywood.
| Space | Size | Space Use | Position | Available |
| 4330 | 1,500 SF | Restaurant | - | Now |
4330
| Size |
| 1,500 SF |
| Space Use |
| Restaurant |
| Position |
| - |
| Available |
| Now |
4330
| Size | 1,500 SF |
| Space Use | Restaurant |
| Position | - |
| Available | Now |
The subject property is directly off the 101 freeway, making it easily accessible from other areas of Los Angeles. It is sandwiched between two Metro stops on the Red Line, which connects Downtown LA to North Hollywood.
Walk Score ®
Very Walkable (84)
Bike Score ®
Very Bikeable (78)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 5538-030-019 | Total Assessment | $1,457,404 (2024) |
| Land Assessment | $1,023,116 (2024) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $434,288 (2024) | Tax Year | 2022 |
PROPERTY TAXES
Parcel Number
5538-030-019
Land Assessment
$1,023,116 (2024)
Improvements Assessment
$434,288 (2024)
Total Assessment
$1,457,404 (2024)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2022
Contacts
-
William Althouse -
T.C. Macker, CCIM -
Woody Cook -
WESTMAC Commercial Brokerage Company
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658-662 N Heliotrope Dr | 4318-4330 Melrose Ave
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