Ardmore/Melrose Apartments | 4660 Melrose Ave
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Ardmore/Melrose Apartments 4660 Melrose Ave
66 Unit Apartment Building $30,950,000 ($468,939/Unit) 4.57% Cap Rate Los Angeles, CA 90029
Investment Highlights
- Rare opportunity to acquire a newly constructed multifamily property with 66 luxury units totaling ±52,806 square feet.
- Tenants enjoy a rooftop desk with sweeping views, a gym, secured entry, and gated parking with 68 spaces and EV charging stations.
- Ardmore/Melrose combines a prime location, luxury design, and robust market fundamentals, presenting a promising opportunity for long-term returns.
- Located in the heart of Melrose Hill, one of LA’s trendiest neighborhoods, near Larchmont Village, Hollywood, Los Feliz, and Silver Lake.
- The building is in lease-up and Seller will guarantee rent on vacant units for the first year, ensuring stable cash flow.
- The surrounding area offers restaurants, shops, nightlife, venues, museums, and fitness centers.
Executive Summary
SELLER FINANCING AVAILABLE FOR 18 MONTHS AT 4% INTEREST ONLY WITH 40% DOWN
Kidder Mathews is pleased to present the opportunity to acquire Ardmore/ Melrose Apartments, a stunning multifamily building located at 4660 Melrose Avenue. This brand-new, 2023-built property features 66 beautifully designed units spread across ±52,806 square feet on a ±16,060 square foot lot in Melrose Hill, one of the most desirable locations in Los Angeles. With its prime location and exquisite design, Ardmore/Melrose offers investors a unique opportunity to acquire a high quality asset that blends luxury and functionality.
The building’s unit mix includes five studio units, 51 one-bedroom, one-bath units, and ten two-bedroom, two-bath units, providing a diverse range of options for tenants. The interiors are crafted with meticulous attention to detail, featuring open floor plans, modern kitchens with quartz countertops, premium appliance packages, and in-unit washer/dryers. Additional amenities include central air conditioning, recessed LED lighting, luxury hardwood flooring, and private balconies in select units.
Tenants can enjoy a fully equipped gym for fitness and a rooftop deck with stunning city views, perfect for relaxing and entertaining. The property also offers secured access entry and gated parking with 68 spaces, including EV charging stations. As an added benefit, the building is currently in lease-up, and ownership guarantees rent for the first year, providing investors with immediate cash flow stability.
The location of Ardmore/Melrose is unmatched, situated in the heart of Melrose Hill and within easy reach of Larchmont Village, Hollywood, Los Feliz, and Silver Lake. Tenants have access to a wide range of amenities, including renowned restaurants, shops, nightlife, cultural and entertainment venues, and much more. The property is also ideally located near major employment centers like Hollywood, Wilshire Center, Downtown Los Angeles, Beverly Hills, and West Hollywood, with convenient access to transportation routes and the 101 Freeway.
Ardmore/Melrose is an outstanding opportunity for investors seeking a newly constructed, luxury multifamily property in a vibrant Los Angeles neighborhood. With its exceptional design, premium amenities, and strong unit mix, this building is poised to offer investors consistent cash flow, excellent visibility, and strong market fundamentals. Don’t miss your chance to invest in a property with both immediate and long-term potential for success.
Kidder Mathews is pleased to present the opportunity to acquire Ardmore/ Melrose Apartments, a stunning multifamily building located at 4660 Melrose Avenue. This brand-new, 2023-built property features 66 beautifully designed units spread across ±52,806 square feet on a ±16,060 square foot lot in Melrose Hill, one of the most desirable locations in Los Angeles. With its prime location and exquisite design, Ardmore/Melrose offers investors a unique opportunity to acquire a high quality asset that blends luxury and functionality.
The building’s unit mix includes five studio units, 51 one-bedroom, one-bath units, and ten two-bedroom, two-bath units, providing a diverse range of options for tenants. The interiors are crafted with meticulous attention to detail, featuring open floor plans, modern kitchens with quartz countertops, premium appliance packages, and in-unit washer/dryers. Additional amenities include central air conditioning, recessed LED lighting, luxury hardwood flooring, and private balconies in select units.
Tenants can enjoy a fully equipped gym for fitness and a rooftop deck with stunning city views, perfect for relaxing and entertaining. The property also offers secured access entry and gated parking with 68 spaces, including EV charging stations. As an added benefit, the building is currently in lease-up, and ownership guarantees rent for the first year, providing investors with immediate cash flow stability.
The location of Ardmore/Melrose is unmatched, situated in the heart of Melrose Hill and within easy reach of Larchmont Village, Hollywood, Los Feliz, and Silver Lake. Tenants have access to a wide range of amenities, including renowned restaurants, shops, nightlife, cultural and entertainment venues, and much more. The property is also ideally located near major employment centers like Hollywood, Wilshire Center, Downtown Los Angeles, Beverly Hills, and West Hollywood, with convenient access to transportation routes and the 101 Freeway.
Ardmore/Melrose is an outstanding opportunity for investors seeking a newly constructed, luxury multifamily property in a vibrant Los Angeles neighborhood. With its exceptional design, premium amenities, and strong unit mix, this building is poised to offer investors consistent cash flow, excellent visibility, and strong market fundamentals. Don’t miss your chance to invest in a property with both immediate and long-term potential for success.
Property Facts
| Price | $30,950,000 | Apartment Style | Mid Rise |
| Price Per Unit | $468,939 | Building Class | A |
| Sale Type | Investment | Lot Size | 0.37 AC |
| Cap Rate | 4.57% | Building Size | 84,960 SF |
| Gross Rent Multiplier | 15.2 | No. Stories | 6 |
| No. Units | 66 | Year Built | 2023 |
| Property Type | Multifamily | Parking Ratio | 0.9/1,000 SF |
| Property Subtype | Apartment |
| Price | $30,950,000 |
| Price Per Unit | $468,939 |
| Sale Type | Investment |
| Cap Rate | 4.57% |
| Gross Rent Multiplier | 15.2 |
| No. Units | 66 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid Rise |
| Building Class | A |
| Lot Size | 0.37 AC |
| Building Size | 84,960 SF |
| No. Stories | 6 |
| Year Built | 2023 |
| Parking Ratio | 0.9/1,000 SF |
Unit Amenities
- Air Conditioning
- Dishwasher
- Washer/Dryer
- Range
- Smoke Free
Site Amenities
- Controlled Access
- Fitness Center
- Gated
- Roof Terrace
- Bicycle Storage
- Elevator
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 56 | - | 700 - 750 |
| 2+2 | 10 | - | 800 - 900 |
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Walk Score ®
Very Walkable (88)
PROPERTY TAXES
| Parcel Number | 5521-007-037 | Improvements Assessment | $8,955,763 |
| Land Assessment | $2,480,356 | Total Assessment | $11,436,119 |
PROPERTY TAXES
Parcel Number
5521-007-037
Land Assessment
$2,480,356
Improvements Assessment
$8,955,763
Total Assessment
$11,436,119
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Ardmore/Melrose Apartments | 4660 Melrose Ave
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