Welcome to 4071 Melrose Avenue, a fully leased and fully renovated 6-unit apartment building located in East Hollywood/Virgil Village adjacent to Silver Lake. Built in 1981, the property is not subject to LA RSO, only statewide rent control AB 1482, which allows for annual rent increases of 5% + CPI (approx. 8.9%). The 4,024 sqft building features (5) 1-bed/1-bath units and (1) 2-bed/1-bath and is complemented by a large 7,110 sqft lot that offers space for up to 4 ADUs in the rear parking lot that fits up to 10 cars. Recent 2024 upgrades to the units comprise of in-unit stacked washer/dryers, mini-split HVAC systems, recessed lighting, stainless steel GE appliances, white oak flooring, custom cabinetry, and designer tile and countertops in the kitchens and bathrooms. Additional improvements include a Ratio Utility Billing System (RUBS) that charges tenants back for their share of utilities, and new exterior stucco, painting, and fencing. Beneficial to the buyer, there are RTI permits for 2 ADUs, (1) 1,141 sqft 3-bed/2-bath & (1) 716 sqft 2-bed/2-bath unit. After building the ADUs and factoring in construction costs, the property will operate at a 6.42% CAP as an 8-unit and 7.48% CAP as a 10-unit. With its prime location, this non-rent controlled property offers an excellent opportunity for a local investor seeking a low-maintenance, like-new building with value-add potential through RTI plans and the possibility of adding up to 4 ADUs via SB 1211. Buyer to investigate & verify all information, including, but not limited to, bed/bath count, square footages, permits, rent control, ADUs, and potential uses.
Property Details
Property Features
Property Information:
Year Built: 1981
Stories: 2
Listing Office:
Office Name: Lyon Stahl Investment Real Estate, Inc.
Office Email: bobby@lyonstahl.com
Listing Agent: Robert Sillman
Interior Features
Interior Information:
Fireplace: None
Exterior Features
Exterior Information:
Private Pool: No
Lot Features
Lot Information:
Lot Size: 0.16 Acres
Utilities
Utilities Information:
Heating: Electric
Cooling: Wall/Window Unit(s)
Other
Directions Information:
Directions: On North side of Melrose Ave between N Madison Ave and Virgil Ave
Price Information
Listing Price Info
Price Summary:
List Price: $2,750,000
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Housing Market Comparison
See how this home compares to others in Los Angeles, CA.
This property is $1.7M more than the Median Sold Price in Los Angeles, CA.
Based on homes sold in the last 12 months
MLS Details
MLS Information:
MLS Name: CRMLS
MLS Number: #SB25000692
Listing Office:
Office Name: Lyon Stahl Investment Real Estate, Inc.
Office Email: bobby@lyonstahl.com
Listing Agent: Robert Sillman
Based on information from California Regional Multiple Listing Service, Inc. 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. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
The information being provided by California Regional Multiple Listing Service, Inc. (“CRMLS”) is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Any information relating to a property referenced on this web site comes from CRMLS. Properties may or may not be listed by the office/agent presenting the information. Real estate listings held by brokerage firms other than this broker are marked with the Internet Data Exchange logo and detailed information about them includes the names of the listing brokers and listing agents. MLS search engine provided by IHR Technology Services. This data is updated every 2 hours. Some properties appearing for sale on this display may subsequently have sold and may no longer be available. Data displayed may be a portion of, and not a complete set of all listings published in the MLS. Last updated on: 1/8/2025, 12:21:08 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Property Sales & Tax
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Schools
Schools Nearby
The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.
We're sorry, we currently don't have assigned school data for this listing.
Nearby Schools
7
/10
Dayton Heights Elementary School
607 N Westmoreland Ave
Distance between this listing and this school0.14 miles
Public District Grades KG-5
4
/10
Lockwood Avenue Elementary
4345 Lockwood Ave
Distance between this listing and this school0.36 miles
Public District Grades KG-6
6
/10
Dr. Sammy Lee Medical and Health Science Magnet
3600 Council St
Distance between this listing and this school0.68 miles
Public Magnet Grades KG-5
Nearby Schools
5
/10
Virgil Middle School
152 N Vermont Ave
Distance between this listing and this school0.70 miles
Public District Grades 6-8
3
/10
Vista Charter Middle School
2900 W Temple St
Distance between this listing and this school0.90 miles
Public Charter Grades 6-8
6
/10
Thomas Starr King Middle School
4201 Fountain Ave
Distance between this listing and this school0.96 miles
Public Magnet Grades 6-8
Nearby Schools
7
/10
Camino Nuevo High #2
3500 W Temple St
Distance between this listing and this school0.55 miles
Public Charter Grades 9-12
7
/10
Central City Value
221 N Westmoreland Ave
Distance between this listing and this school0.61 miles
Public Charter Grades 9-12
4
/10
New Village Girls Academy
147 N Occidental Blvd
Distance between this listing and this school1.01 miles
The neighbors living near this home have an average income of $30,857. The most common annual income of people living in Los Angeles, CA is less than $35k. Most families are single, no kids. Typical level of education for residents in this area is high school diploma.
All data provided by Home Junction and Claritas
Frequently Asked Questions About 4071 Melrose Ave Unit 1
What is the listing price of this property?
The listing price of 4071 Melrose Ave Unit 1 property is $2,750,000.
What type of property is this?
The property 4071 Melrose Ave Unit 1 is a condo located in Los Angeles, California, 90029.
Is this property for sale now?
Active Listing: 4071 Melrose Ave Unit 1 is For Sale (Active/New) which means the seller is accepting offers.
Which year was this property built?
The year of construction for 4071 Melrose Ave Unit 1 is 1981.
Interested in 4071 Melrose Ave Unit 1? Let's connect.
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This home is located at 4071 Melrose Ave Unit 1 in Los Angeles, CA and zip code 90029 in the Central LA neighborhood. This home, which was built in 1981, sits on a 0.16 acre lot. It has been listed on Rocket Homes since January 06, 2025 and is currently priced at $2,750,000.
While more than 524 listings in Los Angeles, CA in December 2024 were sold above asking price, there were more than 203 listings sold at asking price, and more than 740 were sold below. The number of homes for sale in Los Angeles, CA decreased by 5.3% between November 2024 and December 2024. Listings spent 41 days on the market in December 2024, and had a median list price of $1,026,634 during the same period.
From Rocket Homes Real Estate and based on county public records data.
Based on information from California Regional Multiple Listing Service, Inc. 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. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. 
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