Active

4660 Melrose Avenue

Los Angeles CA, 90029

$30,950,000


$586.11 per sqft

Active

71 Beds

76 Baths

52,806 sqft

Residential

Built in 2023

Listed by Angelica Gotzev with Kidder Mathews of California, Inc. 310-312-2800

SELLER FINANCING AVAILABLE FOR 18 MONTHS AT 4% INTEREST WITH ONLY 40% DOWN - Ardmore/Melrose is a stunning multifamily building located at 4660 Melrose 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.

24403389

MLS ID

June 12, 2024

Listed

July 14, 2024

Updated

Map

4660 Melrose Avenue
Los Angeles CA, 90029

Interior Features

Total Stories

6


Bedrooms

71


Total Bathrooms

76


Appliances

Dishwasher, Disposal, Microwave, Refrigerator, Dryer, Washer


Fireplace

No


Cooling

Yes


Cooling Description

Central Air


Heating

Yes


Heating Description

Central

Exterior/Building Features

Lot Size

0.37 Acres

Other Property Details

Area Name

C17 - Mid-Wilshire


Days on Market

29


Garage

No


Parking

Underground, Gated, Private


Parking Total

68


View

No


County

Los Angeles


Pool

No


Zoning

LAC2


Buyer Agency Compensation

0.5%

Listing History

Date

Event

Price

7/11/2024

Price Change

$30,950,000

-2%

Listing Contact: 310-312-2800 

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 7/14/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

©2024 California Regional Multiple Listing Service (CRMLS) all rights reserved.

Data last updated on 7/14/2024 at 6:22 AM UTC

 

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