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4301 Melbourne Avenue, Los Angeles, California 90027, Los Angeles, 90027 - bed, bath

4301 Melbourne Avenue, Los Angeles, California 90027 home-pic-0
ACTIVE$1,775,000
4301 Melbourne Avenue, Los Angeles, California 90027
0Bed
0Bath
3,986Sqft
6,799Lot
Year Built
1930
Close
-
List price
$1.77M
Original List price
$1.99M
Price/Sqft
$445
HOA
-
Days on market
-
Sold On
-
MLS number
SR25159378
Home ConditionFair
Features
Good View:
Patio
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $1.77M(50th), sqft - 3986(50th), beds - undefined(50th), baths - undefined(50th).

Beautiful 1929 six-plex, with significant ADU potential, in prime Los Feliz location. The property boasts a sunny south-facing corner lot with excellent exposure. Ideal for investors and 1031 exchange buyers. Each one-bed/one-bath unit comes with its own garage space. Possible Opportunity to add two, two-bed ADU's above the existing garage. Located within the highly ranked and sought after Franklin Elementary School District, with unbeatable access to major employment hubs such as Downtown LA, Hollywood & Koreatown, and just moments from attractive lifestyle amenities such as Griffith Park and the vibrant Hillhurst Avenue — home to some of LA’s most popular cafes, restaurants and boutiques. Plumbing water lines were replaced with copper pipes recently. All units feature private patios, adding to tenant appeal! The property is fully occupied and generating steady income, with room for future rent growth. Please note that this is Drive-By Only; we kindly request that you Do Not Disturb The Tenants. Interior access with accepted offer. Financials available upon request. Subject to Los Angeles Rent Stabilization Ordinance (LARSO). This is a great opportunity to acquire a magnificent property! Don’t miss it!

Nearby schools

8/10
Franklin Avenue Elementary School
Public,•K-6•0.2mi
7/10
Los Feliz STEMM Magnet
Public,•K-6•0.6mi
/10
Lexington Avenue Primary Center
Public,•K-2•0.8mi
9/10
Ivanhoe Elementary School
Public,•K-5•1.0mi
4/10
Lockwood Avenue Elementary School
Public,•K-6•1.1mi
5/10
Micheltorena Street Elementary School
Public,•K-5•1.2mi
4/10
Grant Elementary School
Public,•K-6•1.8mi
6/10
Cheremoya Avenue Elementary School
Public,•K-6•2.1mi
6/10
Thomas Starr King Middle School
Public,•6-8•0.6mi
3/10
Joseph Le Conte Middle School
Public,•6-8•2.1mi
8/10
John Marshall Senior High School
Public,•9-12•0.4mi
6/10
Hollywood Senior High School
Public,•9-12•3.2mi

Price History

Date
Event
Price
09/09/25
Price Change
$1,775,000
07/15/25
Listing
$1,990,000
Condition Rating
Fair
Built in 1930, this property is significantly aged. While the exterior appears maintained for its era, and the plumbing water lines were recently replaced with copper pipes (a positive update to a major system), there are no interior photos provided, especially of the kitchens and bathrooms. This lack of interior visibility, combined with the property's age, strongly suggests that the interior finishes, including kitchens, bathrooms, and other features, are likely outdated and would require minor to moderate updates or renovations to meet current market expectations and styles. The property is fully occupied and income-generating, indicating it is functional and livable, but not necessarily modern or recently renovated throughout.
Pros & Cons

Pros

Exceptional Location: Prime Los Feliz location offering unbeatable access to major employment hubs (Downtown LA, Hollywood, Koreatown) and vibrant lifestyle amenities (Griffith Park, Hillhurst Avenue), within the highly-rated Franklin Elementary School District.
Significant ADU Potential: Opportunity to add two 2-bedroom Accessory Dwelling Units (ADUs) above the existing garages, providing substantial future income generation and property value appreciation.
Strong Income & Occupancy: The property is a fully occupied six-plex, generating steady income with identified room for future rent growth, making it highly attractive for investors and 1031 exchange buyers.
Desirable Unit Features: Each one-bed/one-bath unit includes a private patio and a dedicated garage space, enhancing tenant appeal, comfort, and retention.
Recent Infrastructure Upgrade: Plumbing water lines were recently replaced with copper pipes, indicating proactive maintenance and reducing immediate concerns about a critical building system.

Cons

Limited Access for Due Diligence: The 'Drive-By Only' and 'Do Not Disturb Tenants' policy severely restricts initial buyer inspection and due diligence, potentially complicating or delaying the sales process.
Rent Stabilization Ordinance (LARSO): The property is subject to the Los Angeles Rent Stabilization Ordinance (LARSO), which imposes limitations on rent increases and tenant evictions, potentially impacting an investor's flexibility and future returns.
Age of Property & Potential Maintenance: Built in 1930, the property is nearly a century old. Despite recent plumbing upgrades, its age suggests a higher likelihood of ongoing maintenance and capital expenditure needs for other systems (e.g., electrical, roof, foundation).

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