7815 Melrose Avenue
Los Angeles, CA, 90046 $ 5,950,000
Baths0.0 Sq 5,506 Monthly Estimate*
$ 41,563
Studio
for $5,950,000. This 5,506 square foot home was built in 1940 on a lot size of 0.11.
Opportunity to purchase 7815-7817 Melrose Avenue, Los Angeles, California. Built in 1982 and renovated in 2000, the Property offers 43 feet of Frontage on the World-famous Melrose Avenue, near the intersection with Fairfax Avenue. With a combined car count of over 127,000 vehicles per day, this Offering presents an incredible acquisition opportunity on one of Los Angeles' most coveted retail corridors. 7815-7817 Melrose Avenue is a Two-story Building with Approximately 7,750 Sf of Ground-floor Retail and Second-floor Office, an excellent Opportunity for an Owner/User or Investor in one of California's most Premium Urban Markets. The spaces are ideally sized, appealing to a variety of tenant types and uses. The current tenants are on Month-to-Month leases with under-market rents, offering the investor an immediate upside by leasing the units at market rents in one of the highest barrier-to-entry markets in California. Rated "Walker's Paradise" by CoStar with a Walk Score of 95, the property is located within distance to major attractions such as The Grove, Beverly Center, Sunset Strip, Beverly Hills, Rodeo Drive, Cedars-Sinai, and is surrounded by multiple dining and shopping options that Melrose has to offer: Urth Caffe Melrose, Zinqu, Alfred Coffee, Catch LA, Adidas, Reformation, Paul Smith, Vivienne Westwood, Gucci, among many others. Melrose Avenue is one of L.A.'s most famous streets, featuring a myriad of shopping, dining and entertainment destinations. All about"strolling and shopping", the street begins at Santa Monica Boulevard where the cities of Beverly Hills and West Hollywood meet, boasting one of the highest foot traffic areas in the city of Los Angeles is the most populous city the state of California. It is the Entertainment capital of the world, a cultural mecca boasting more than 100 museums, a global hub of the Fashion industry, and a paradise of idyllic weather.
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FeaturesGeneralZoning LAC4
Year Built 1940
Levels Multi/Split
County Los Angeles
Net Operating Income 98745.0
New Construction No
Property Type C
HOA / Comm Assn No
Status Active
City Los Angeles
Buyer Agent Compensation 2.50
Senior Community Y/N No
MLS Area C10 - West Hollywood Vicinity
Lot Size Square Feet 4656.0
Street Name Melrose
Standard Status Active
Buyer Agent Compensation Type %
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ExteriorParking Features Gated
Lot Size Area 4656.0
Building Area Total 5506.0
Lot Dimensions 40x116
Lot Size Acres 0.11
Lot Size Units Square Feet
Land Lease Type Fee
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InteriorTotal Stories 2
Street Suffix Avenue
Total Baths 0
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* Excluded FeaturesAffordability Calculator
- Monthly Principal & Interest
- $41,563
- Monthly Property Taxes
- --
- Monthly Home Insurance
- --
Default based on a 30-year fixed rate of 7.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
Learn more about how to save NearbyMulti-family listings in Los Angeles, CA
Average List Price $1,999,871
Percent of Sale Price 66%
About Los Angeles, CA 3,920,026 Population
6% Since 2002
$ 55,057 Median Income
36.82 Median Age
27% Households with Children
Trends Information provided by ATTOM Data Solutions.
793437 Elementary School
793428 Middle School
Unknown High School High School
Pricing HistoryDate | Price | Price Change | Description |
---|
3/20/2024 | $5,950,000 | -4.03% | Price Down |
2/28/2024 | $6,200,000 | -11.43% | Price Down |
1/30/2024 | $7,000,000 | | Listed Price |