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4362 Melrose Ave, Los Angeles, CA 90029
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4362 Melrose Ave Los Angeles, CA 90029

$1,420,000 Sold Price as of 01/27/2022
  • 4 Beds
  • 4 Baths
  • 4,098 Sq.Ft.
Sold
$1,420,000 Sold Price as of 01/27/2022 Refinance Your Mortgage
Map preview of 4362 Melrose Ave, Los Angeles, CA 90029

Property Overview: 4362 Melrose Ave Los Angeles, CA has 4 bedrooms, 4 bathrooms, 4,098 living square feet and 7,982 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: 4362 Melrose Ave is a 5 Unit mixed use asset located in East Hollywood. The property consists of four(4) one-bedroom units and one(1) 1,260 sqft commercial unit. The commercial unit is currently on a month to month lease with a church. This property is ideal for an investor, or owner/user, to achieve higher than average rents and still add value with 18% upside in current rents. This property also has development friendly LAC2 zoning in both an OPPORTUNITY ZONE and a TIER 3 T.O.C bonus density. 4362 Melrose Ave is a 4 minute walk to Los Angeles City College and is situated for convenient access to the 101(Hollywood) Freeway. Please do not disturb the tenants. All showings will be subject to an accepted offer.

Listed by Chase Simonton | BRE #01766871 | RE/MAX One
Co-listed by Robert Carlile | BRE #02066811 | RE/MAX One
Last checked: 13 minutes ago | Last updated: March 23rd, 2022 | Source CRMLS | DOM: 20

Home details

Lot Sq. Ft
7,982
HOA Dues
$0/mo
Year built
1913
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
21784542
City
Los Angeles
County
Los Angeles
Time on Site
973 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 5
  • Total # of Buildings: 3
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 0
  • # of Baths: 0
  • Furnishing: Unfurnished
  • Actual Rent: $2,400
  • Total Rent: $2,400
  • Pro Forma/Market Rent: $2,600
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,350
  • Total Rent: $1,350
  • Pro Forma/Market Rent: $1,650
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,350
  • Total Rent: $1,350
  • Pro Forma/Market Rent: $1,650
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,288
  • Total Rent: $1,288
  • Pro Forma/Market Rent: $1,650
Unit Breakdown 5
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,400
  • Total Rent: $1,400
  • Pro Forma/Market Rent: $1,650
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: 15.19
  • Gross Scheduled Income: --
  • Net Operating Income: $54,614
  • Gross Operating Income: $93,456
Annual Expense Breakdown
  • Total Operating Expense: --

Property Details for 4362 Melrose Ave

Interior Features
Cooling Information
  • Has Cooling
  • Wall/Window Unit(s)
Heating Information
  • No Heating
  • None
Lot Details / Garage and Parking
Parking/Garage Information
  • Has Parking
  • Parking Features: Street
Property Information
  • Total # of Units: 5
  • Parcel Number: 5538031026
Location / Neighborhood
Location Information
  • Directions: South of Melrose, West of Heliotrope
View more facts & features

Local Los Angeles Agent

Sale History for 4362 Melrose Ave

Last sold for $1,420,000 on January 27th, 2022

  • September, 2021

  • Sep 16, 2021

    Date

    Active

    CRMLS: 21784542

    $1,420,000

    Price

  • March, 2011

  • Mar 16, 2011

    Date

    Sold (Public Records)

    Public Records

    $300,003

    Price

Show More

Tax History for 4362 Melrose Ave

Assessed Value (2020): $575,504
Year Land Value Improved Value Assessed Value
2020 $328,008 $247,496 $575,504

Home Value Compared to the Market

This property vs the competition

4362 Melrose Ave sold on January 27, 2022 for 19.33% higher than the current median sold price for the city of Los Angeles which is $1,190,000. The median sold price per/sqft for Los Angeles is $755 and this home is sold at $346.51 per/sqft which puts the price per square foot 54.1% lower than the current median sale per square foot for the city of Los Angeles.

About 4362 Melrose Ave

Detailed summary of property

4362 Melrose Ave is a multi family that recently sold in Los Angeles, CA 90029. This multi family property offered 4 bedrooms, 4 bathrooms, roughly 4,098 living square feet, and sits on an approximately 7,982 square foot lot. 4362 Melrose Ave was first listed on ArdentRealEstateGroup.com on September 16, 2021. The homeowner sold the property for $1,420,000. Home in Los Angeles are selling for a median price of $1,190,000 and a median price per square foot of $755. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is sold 19.33% higher than the current median priced home. Local homes that are currently for sale include 3456 Plata St, 1000 N Oxford Ave and 1417 N Kenmore Ave. While the average home in Los Angeles, CA is selling in 94 days, 4362 Melrose Ave has a days on market of 20 days. There are currently 3654 homes for sale in the Los Angeles real estate market and 2456 of them are single family homes while 1102 of them are condos and 90 are townhomes. For more information on this home for sale at 4362 Melrose Ave Los Angeles, CA 90029 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 4362 Melrose Ave

Public county record property details
Beds
4
Baths
4
Year built
1913
Sq. Ft.
4,098
Lot Size
7,982
Stories
1
Type
Commercial/Office/Residential (Mixed Use)
Pool
No
Spa
No
County
Los Angeles
Lot#
114
APN
5538-031-026

The source for these homes facts are from public records.

90029 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$1,200,000
Median List Price/Sq.Ft.
$794
Median Sold Price
$1,049,000
Median Sold Price/Sq.Ft.
$1,042
Total Inventory
35
Median Sale to List Price %
95.36%
Avg Days on Market
38
Loan Type
Conventional (60%), FHA (0%), VA (0%), Cash (0%), Other (0%)

Thinking of Selling?

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. This information 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. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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