14
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$8,900,000
Est. payment /mo
13,540 SqFt
Active
4318 Melrose Ave Los Angeles, CA 90029
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Key Details
Property Type Commercial
Sub Type Retail
Listing Status Active
Purchase Type For Sale
Square Footage 13,540 sqft
Price per Sqft $657
MLS Listing ID 25514283
Year Built 1908
Lot Size 0.632 Acres
Acres 0.4131
Property Sub-Type Retail
Property Description
We are proud to present an exceptional investment and land banking opportunity at 4318 Melrose Avenue and 658 Heliotrope Drive, offered at $8,900,000: $7,400,000 for the Melrose store-front retail center and $1,500,000 for the Heliotrope parcel. Situated on a combined 27,526 SF lot with LAC2 and LAR3 zoning, the property allows for a future development of up to 241 residential units (the Melrose parcel can accommodate building 150 units using CHIP TOIA T2 and the Heliotrope parcel can accommodate the development of 91 units using ED-1 and 55 units using AB 2335). The existing improvements include a 13,540 SF multi-tenant retail and office building with seven units, two currently vacant, offering strong income potential and immediately expiring leases that allow for favorable renegotiation. The Heliotrope parcel serves as dedicated tenant parking with 38 total spaces. Strategically positioned at a high-visibility corner, the property is just two blocks from the 101 Freeway and between two Metro Red Line stations, ensuring excellent accessibility. Surrounded by the vibrant Virgil Village dining scene, Erewhon Silver Lake, and cultural hotspots, this offering presents an unparalleled opportunity for investors seeking strong cash flow, value-add potential, and long-term redevelopment in one of Los Angeles' most dynamic neighborhoods.
Location
State CA
County Los Angeles
Area Silver Lake - Echo Park
Zoning LAC2
Exterior
Garage Spaces 38.0
Building
Story 1
Others
Special Listing Condition Standard
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Listed by Maher Commercial Realty