$2,200,000 Price Analysis   ♡   Los Angeles, CA 90046 4 bed 10 bath 4,752 SqFt ($462/SqFt) 6,613SqFt lot. Built 1925 Listed 2024-06-26, Taxes $2,530 | Ⓧ USDA Ineligible due to price & location near Los Angeles |
We are pleased to present a ten (10)
* Has Contingent Offer *Unit apartment building located at 832 N Edinburgh Avenue in Los Angeles, California. The subject property is locted in a prime Melrose location, north of Melrose Avenue and west of N Fairfax Avenue. Built in 1925, this property contains a solid unit mix of six (6) studio / one-bathroom units and four (4) one-bedroom / one-bathroom units. This asset features four (4) covered garage parking spaces that can potentially be converted into up to eight (8) ADU unit(s) under SB 1211 (recently engrossed on June 12th).
Tenants will love living in a quiet residential corridor within a couple miles from the Sunset Strip, numerous fashion and art stores along Melrose Avenue and Fairfax Avenue, The Comedy Store, Melrose Trading Post, Laurel Hardware, Ysabel and Blue Bottle Coffee. The neighborhood of Melrose attracts many young professionals g iven the film, fashion and art industry presence in this location. Melrose is also in the eighth rated submarket for market asking rents and the sixth rated submarket for twelve (12) month unit absorption. Situated in a prime Melrose location, this offering presents an excellent opportunity for any investor to capitalize on a property with tremendous upside potential and the potential to convert the garages into multiple ADU unit(s).
Presented by Jason Tuvia at
Marcus & Millichap.
Property MLS #24-408745 from TheMLSCLAW
Full Bathrooms: 10
Heating Features: Wall
Patio And Porch Features: Porch - Rear
Patio Features: Porch - Rear
Lot Size Acres: 0.1518136
Lot Size Source: Vendor Enhanced
Lot Size Square Feet: 6613
Garage Description: Garage, Covered Parking
Parking Total: 4
Other Equipment: Built-Ins, Range/Oven, Refrigerator
Vacancy Allowance: 4965
Calculated Total Monthly Association Fees: 0
Number of Units: 10
Unit Features: 1 BathsTotal: 1, 1 SquareFeet: 1900, 2 BedsTotal: 1, 2 BathsTotal: 1, 2 SquareFeet: 2300
County: Los Angeles
Cap Rate: 4.57
Directions: The subject property is located in a prime Melrose location, north of Melrose Avenue and west of N Fairfax Avenue.
Source Property Type: Residential Income
Area: West Hollywood Vicinity
Source Neighborhood: West Hollywood Vicinity
Parcel Number: 5529-021-060
Postal Code Plus 4: 6941
Property Location: City
Zoning: LAR3
Source System Name: C2C
| Year | Assessments Building + Land Total | Tax |
|---|---|---|
| 2022 | $49,871 + $75,524 $125,395 | $2,530 |
| 2021 | $48,894 + $74,044 $122,938 | $2,475 |
| 2020 | $48,393 + $73,285 $121,678 | $2,486 |
| 2019 | $47,445 + $71,849 $119,294 | $2,427 |
| 2018 | $46,515 + $70,441 $116,956 | $2,324 |
| 2017 | $45,603 + $69,060 $114,663 | $2,249 |
| 2016 | $44,709 + $67,706 $112,415 | $2,149 |
| 2015 | $44,038 + $66,689 $110,727 | $2,130 |
| 2014 | $43,176 + $65,383 $108,559 | $2,194 |
| 2013 | $42,981 + $65,088 $108,069 | $2,188 |
| 2012 | $42,139 + $63,812 $105,951 | $2,214 |
| 2010 | $41,313 + $62,561 $103,874 | $2,127 |
| 2009 | $41,103 + $62,242 $103,345 | $2,059 |
| 2009 | $41,005 + $62,094 $103,099 | $2,059 |
| 2008 | $40,298 + $61,022 $101,320 | $2,004 |
| 2007 | $39,508 + $59,826 $99,334 | $1,933 |
$2,200,000
TheMLSCLAW
Year Built: 1925
Common Walls: Attached
Levels: Two Level
Living Area Source: Vendor Enhanced
Property Age: 99
Property Condition: No Additions/Alter, Repair Cosmetic
Levels or Stories: 2
Building Total Stories: 2
Year Built Source: Vendor Enhanced
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The property loan eligibility may be subject to additional requirements beyond geographical location including but not limited to the condition of the property. Speak with a real estate professional to find out more about the eligibility of a specific property.