4318 Melrose Avenue

Los Angeles, CA 90029

  • 0 Sqft
  • 27526
    Sqft(Lot)
$8,900,000

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.

  • Property Type

    Land

  • County

    Los Angeles

  • Style

    Land

  • AD ID

    49270948

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Property Details

  • Bathroom Information

    • Total Baths: 0
    • Full Baths: 0
    • Half Baths: 0

  • Lot Details

    • Lot Dimensions Source: Vendor Enhanced
    • Lot Size Acres: 0.6319
    • Lot Size Dimensions: 124x145
    • Lot Size Source: Other
    • Lot Size Square Feet: 27526

  • Listing Price Information

    • Original List Price: 8,900,000
    • Listing Contract Date: 2025-04-08

    Lease Information

    • Listing Agreement: Seller Reserved

  • Tax Information

    • Parcel Number: 5538030019

  • Garage and Parking

    Homeowners Association

    Rental Info

    • Lease Term: Negotiable

  • Other Property Info

    • Source Listing Status: Active
    • Source Neighborhood: C21 - Silver Lake - Echo Park
    • Postal Code Plus 4: 3511
    • Directions: West on Santa Monica Blvd, South on Heliotrope Drive
    • Zoning: LAC2
    • Source Property Type: Land
    • Area: C21 - Silver Lake - Echo Park

    Building and Construction

    • Year Built Source: Vendor Enhanced
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BuyOwner last updated this listing 04/19/2025 @ 07:15

  • MLS: 25522489
  • LISTING PROVIDED COURTESY OF: ,
  • SOURCE: CRMLS

is a Land, with 0 bedrooms which is for sale, it has 0 sqft, 27,526 sized lot, and 0 parking. are nearby neighborhoods.