$30,950,000 Price Analysis   ♡   Los Angeles, CA 90029 71 bed 76 bath 52,806 SqFt ($586/SqFt) 0.37 acre lot. Built 2023 Listed 2024-06-12 | Ⓧ USDA Ineligible due to price & location near Los Angeles |
SELLER FINANCING AVAILABLE FOR 18 MONTHS AT 4% INTEREST WITH ONLY 40% DOWN - Ardmore/Melrose is a stunning multifamily building located at 4660 Melrse Avenue
Adjacent to Larchmont Village, Hollywood, Los Feliz and Silverlake. This brand-new, 2023-built property features 66 beautifully designed units spread across 52, 806 SF on a 16, 060 SF lot in Melrose Hill, one of the most desirable locations in Los Angeles. With its prime location and exquisite design, Ardmore/Melrose offers investors a unique opportunity to acquire a high-quality asset that blends luxury and functionality. The building's unit mix includes (5) studios, (51) 1+1 units and (10) 2+2 units, providing a diverse range of options for tenants. The interiors are crafted with meticulous attention to detail, featuring open floor plans, modern kitchens with quartz countertops, premium appliance packages and in-unit washer/dryers. Additional amenities include central air conditioning, recessed LED lighting, luxury hardwood flooring and private balconies in select units. Tenants can enjoy a fully equipped gym for fitness and a rooftop deck with stunning city views, perfect for relaxing and entertaining.
The property also offers secured access entry and gated parking with 68 spaces, including EV charging stations. As an added benefit, the building is currently in lease-up and ownership will guarantee rent on vacant units for the first year, providing investors with immediate cash flow stability.The location of Ardmore/Melrose is unmatched, situated in the heart of Melrose Hill and within easy reach of Larchmont Village, Hollywood, Los Feliz and Silver Lake. Tenants have access to a wide range of amenities, including renowned restaurants, shops, nightlife, cultural and entertainment venues and much more. The property is also ideally located near major employment centers like Hollywood, Wilshire Center, Downtown Los Angeles, Beverly Hills and West Hollywood, with convenient access to transportation routes and the 101 Freeway. Ardmore/Melrose is an outstanding opportunity for investors seeking a newly constructed, luxury multifamily property in a vibrant Los Angeles neighborhood. With its exceptional design, premium amenities and strong unit mix, this building is poised to offer investors consistent cash flow, excellent visibility and strong market fundamentals. Don't miss your chance to invest in a property with both immediate and long-term potential for success.
Presented by Angelica Gotzev at
Kidder Mathews of California, Inc.
Property MLS #24-403389 from TheMLSCLAW
Full Bathrooms: 76
Laundry Features: In Unit
Heating Features: Central
Lot Size Source: Vendor Enhanced
Lot Size Square Feet: 16065
Parking Total: 68
Calculated Total Monthly Association Fees: 0
Number of Units: 66
Unit Features: 1 BathsTotal: 1, 1 SquareFeet: 10811, 2 BedsTotal: 1, 2 BathsTotal: 1, 2 SquareFeet: 121305, 3 BedsTotal: 2, 3 BathsTotal: 2, 3 SquareFeet: 29723
County: Los Angeles
Directions: On the southeast corner of Melrose Ave and Ardmore Ave
Source Property Type: Residential Income
Area: Mid-Wilshire
Source Neighborhood: Mid-Wilshire
Parcel Number: 5521-007-037
Zoning: LAC2
Source System Name: C2C
$30,950,000
TheMLSCLAW
Listed 2024-06-12
$31,500,000
TheMLSCLAW
Year Built: 2023
Levels: Multi Levels
Living Area Source: Owner
New Construction: Yes
Property Age: 1
Levels or Stories: 6
Building Total Stories: 6
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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.