4318-4330 Melrose Ave - Storefront FOR SALE


Los Angeles, CA 90029
$9,000,000 USD
310-923-2700
4318-4330 Melrose Ave, Los Angeles, CA for Sale
$9,000,000 USD
Storefront - FOR SALE
1/9
null | Request Cap Rate

4318-4330 Melrose Ave
Los Angeles, CA 90029


HIGHLIGHTS

  • Corner Lot
  • Signaled four way intersection
  • Heavy daytime traffic
  • Close to the Metro
  • Close to Los Angeles City College

OVERVIEW

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.

FOR SALE DETAILS

PRICE

$9,000,000 USD

PRICE/SF

$665 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

658-662 N Heliotrope Dr

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

ADD'L SUBTYPES

Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1908

SPRINKLERS

-

PARKING SPACES

12

LAND DETAILS

LAND ACRES

0.41 AC

LAND SF

17,860 SF

ZONING

LAC2-1, LAR3-1

APN/PARCEL ID

5538-030-019

ASK ABOUT THIS PROPERTY

William AlthouseWESTMAC Commercial Brokerage CompanyMore Info
310-923-2700

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William AlthouseWESTMAC Commercial Brokerage CompanyMore Info
310-923-2700

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.