4318 Melrose Ave

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.

This home located at 4318 Melrose Ave is currently active and has been available on pardeeproperties.com for 15 days. This property is listed at $8,900,000. It has 0 beds and 0 bathrooms. The property was built in 1908. 4318 Melrose Ave is in the Silver Lake - Echo Park community of Los Angeles County.

The multiple listings information is provided by The MLS™/CLAW from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2014 The MLS™/CLAW. All Rights Reserved. The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate and should be independently verified.