7815 Melrose Avenue

Los Angeles, CA 90046

$5,950,000
Price
—
Beds
1
Bath
5,506 Sq. Ft.
$1,081 / Sq. Ft.
5,506
Sq. Ft.
$1,081
per Sq. Ft.

Description

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...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.
  1. Listed by Gil Corber • DRE #01378982 • Brokerage DRE #01378982 • Propnation, Inc.

Property Details for 7815 Melrose Avenue

Zoning
LAC4
Parcel Number
5527010010
Total Units
6.0
Living Area
5506
Source Living Area
Vendor Enhanced
Area
West Hollywood Vicinity (C10)
Vacancy Rate
10
Lot Size Area
4656

Location

Listing Courtesy of Propnation, Inc., Gil Corber, DRE #01378982
Add your commute
LISTING UPDATED: 03/19/2024 06:11 PM

Property Details for 7815 Melrose Avenue

StatusActive
MLS #24-352677
Days on Market95
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1940
Lot Size0.11 AC / 4,656 SF
CountyLos Angeles County

Location

Listing Courtesy of Propnation, Inc., Gil Corber, DRE #01378982
Add your commute

Building Information for 7815 Melrose Avenue

Stories2Residences-Year Built1940Building Size-Lot Size0.11 AC / 4,656 SF

Payment Calculator

$34,179 per month

30 year fixed, 7.25% Interest

Principal and Interest

$32,472

Property Taxes

$1,707

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 7815 Melrose Avenue

Community / Development
Community / Development
  • Number Of Units: 6
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 1
  • Type Of Units: Commercial
Contract Info
Contract Info
  • Disclosures: None
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $246,000
  • Net Operating Income: $98,745.00
  • Gross Income: $246,000
  • Gross Rent Multiplier: $28.46
  • Actual Annual Gross Rent: $246,000.00
  • Total Annual Expense: 147255
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.1069
  • Lot Size Square Feet: 4656
  • Lot Size Dimensions: 40x116
  • Source Lot Size Dimensions: Vendor Enhanced
Parking Details
Parking Details
  • Parking Garage: Other
  • Total Parking: 0
Interior Features
Interior Features
  • Levels: Multi/Split
  • Cooling Type: Other
  • Heating Type: Other
  • Equipment: Other
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 01-29-2024
Unit Details
Unit 1 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $20,500.00
  • Unit Actual Rent: $20,500.00
  • Unit Projected Rent: $37,888.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $136,651.00
  • Assessed Improvement Percent: 9.52
  • Assessed Land Value: $1,298,249.00
  • Assessed Land Percent: 90.48
  • Assessed Total Value: $1,434,900.00

Property History for 7815 Melrose Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 7815 Melrose Avenue

Taxable ValueLand$1,298,249Additions$137,151Total$1,435,400
Tax Record2023$20,479 ($1,707 / month)
Home Facts
Total Finished SqFt5,506 SqFtAbove Grade Finished SqFt5,506 SqFtStories1Lot Size4,656 SqFtStyleOffice BuildingYear Built1940ZoningLAC4CountyLOS ANGELESAPN5527-010-010

Schools near 7815 Melrose Avenue

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 8
Public - 9 to 12
Public - 9 to 12
Public - 7 to 12
Rating
School
Distance
Laurel Elementary School
PublicK to 8

Fairfax Senior High School
Public9 to 12

Whitman Continuation School
Public9 to 12

West Hollywood Opportunity School
Public7 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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7815 Melrose Avenue is a multi-family home for sale in Los Angeles, CA 90046. This property was listed for sale on January 29, 2024 by Propnation, Inc., it's currently listed at $5,950,000. It has been on the market for a total of 95 days and was last sold on March 19, 2004. This listing's school district is Los Angeles Unified School District. Nearby schools include Laurel Elementary School, Fairfax Senior High School and Whitman Continuation School. 7815 Melrose Avenue is a 0-bed, 1-bath, 5,506 sqft multi-family home built in 1940.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Propnation, Inc., Gil Corber, DRE #01378982

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.