Fantastic 12 unit building that has been in the same family since it was built in 1958. The property features a desirable unit mix of 10 spacious (1Br+1Ba) units and 2 (2Br+2Ba) with an average unit size of 775 SF. Offered at under 11.29 GRM on current rents and… Read More under $250/SF, the property stands out as an excellent "value add" opportunity with appx. 56% upside in rents, NOT including ADU potential. The property has seismic retrofitting and tuck under and carport parking with ADU potential (Buyer to verify). A new roof was installed in 2025. Laundry and storage rooms in the rear. The property is located just south of Melrose Avenue in the heart of Melrose Hill. Excellent access to LA City College, as well as major employment and lifestyle hubs, including post-production studios, creative office corridors, and media companies, and is only minutes from Paramount Studios. Its central location provides convenient connectivity to Hollywood, Koreatown, Silver Lake and DTLA, making it highly attractive to professionals in the entertainment, tech, and creative sectors! With a Walk Score of 86 ("Very Walkable"), tenants enjoy easy access to nearby restaurants, cafes, and the Metro B Line. Call for a rent roll and marketing package. Read Less
Property listed by Compass, Dana Coronado 310-259-7556
Listing Snapshot
Days Online
14
Last Updated
Beds
14
Square Ft.
9,320
Lot Size
0.25 Acres
Year Built
1958
MLS Number
26648059
Additional Details
Appliances & Equipment
Disposal, GasOven
Building
Built in 1958, Living area: 9320.0, 1 building, Building faces East, 2 stories, Levels: Two, Entry location: Ground Level w/steps, Construction Materials: Stucco
Community
Gated
Disclosures
RentControl
Accessibility Features
None
Fireplaces
None
Floors
Laminate, Tile
Foundation
Raised
Garage
6 spaces
Heating
NaturalGas, WallFurnace
Income
Gross Income: $202,451, Net Operating Income: $104,781
Interior Features
CeilingFans, MultipleStaircases, Storage
Laundry
CommonArea, LaundryRoom
Lot
0.2533 acres
Parking
5 carport spaces, 1 open parking spaces, 12 total parking spaces, Assigned, ControlledEntrance, Covered, DetachedCarport, Gated
Based on information from California Regional Multiple Listing Service, Inc. as of 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.
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