14
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$8,900,000
Est. payment /mo
0.63 Acres Lot
Active
4318 Melrose AVE Los Angeles, CA 90029
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Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID 25522489
HOA Y/N No
Lot Size 0.632 Acres
Property Description
We are pleased 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), that's less that $37,000 per buildable door for prime East Hollywood. 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 C21 - Silver Lake - Echo Park
Zoning LAC2
Interior
Fireplace No
Exterior
View Y/N No
View None
Building
Lot Description Corners Marked
New Construction No
Others
Senior Community No
Tax ID 5538030019
Special Listing Condition Standard
Listed by Oron Maher • Maher Commercial Realty