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6017 Melrose Avenue, Los Angeles, California 90038, Los Angeles, 90038 - 3 bed, 1 bath

6017 Melrose Avenue, Los Angeles, California 90038 home-pic-0
ACTIVE$899,000
6017 Melrose Avenue, Los Angeles, California 90038
3Beds
1Bath
814Sqft
2,009Lot
Year Built
1911
Close
-
List price
$899K
Original List price
$999K
Price/Sqft
$1,104
HOA
-
Days on market
-
Sold On
-
MLS number
24458871
Home ConditionExcellent
Features
Good View: City Lights
ViewCity Lights

About this home

Possibly Over-Priced:The estimated price is 23% below the list price. We found 3 Cons,5 Pros. Rank: price - $899.0K(36th), sqft - 814(14th), beds - 3(50th), baths - 1(14th).

When purchased, this property was a 3 bed/1bath single family residence. Zoning is LAC4 Commercial Uses; Retail w/ Limited Manufacturing,Service Stations and Garages,Retail Contr. Business, Churches, Schools, Auto Sales, R4 UsesZoned for Commercial. Owner used it as a linen store. Large attic storage area. There is one large central room with 4 smaller rooms off of it, 2 in the front with windows to the street, and 2 toward the back. Office has Scalamandre wallpaper. There's a large 1/4 bath with toilet and vanity. Parking is in the driveway. Owner did lots of upgrades including new 200 amp electrical panel + wiring, plumbing, new roof (2017), foundation, central HVAC, recessed lights + sconces, security door + alarm + Ring doorbell + cameras, new marble tile throughout + built-ins + fixtures throughout. Parking is in the driveway. There is street parking on Melrose from 9 am to 3 pm and lots of parking on nearby side streets. Beautiful space in trendy revitalized neighborhood!

Price History

Date
Event
Price
06/30/17
Sold
$550,000
Condition Rating
Excellent
Despite being built in 1911, this property has undergone an extensive and high-quality renovation, making all visible components and major systems virtually new. The description highlights recent upgrades including a new roof (2017), 200 amp electrical panel and wiring, plumbing, foundation, central HVAC, recessed lighting, and new marble tile throughout. The images confirm a modern, clean aesthetic with contemporary fixtures and finishes. While the property, currently zoned and used commercially, features only a 1/4 bath and no kitchen, the existing bathroom is in excellent, modern condition with a sleek vanity and fixtures. The overall quality of the renovation and the current state of the property's physical components meet current quality standards with minimal depreciation.
Pros & Cons

Pros

Flexible Commercial Zoning: The LAC4 zoning allows for a wide range of commercial uses (retail, service, manufacturing, offices, auto sales) and R4 residential, offering significant versatility and potential for various business models or redevelopment.
Extensive Recent Capital Upgrades: Major investments in new 200 amp electrical, plumbing, roof (2017), foundation, and central HVAC significantly reduce immediate maintenance costs and enhance the property's functionality and long-term value.
Prime Location on Melrose Avenue: Situated in a 'trendy, revitalized neighborhood' on Melrose Avenue, the property benefits from excellent commercial visibility, potential for high foot traffic, and strong neighborhood appeal in a desirable Los Angeles area.
Modern Amenities & Security: Equipped with central HVAC, recessed lighting, and comprehensive security features including a security door, alarm, Ring doorbell, and cameras, providing comfort, modern aesthetics, and enhanced safety.
Dedicated Parking & Attic Storage: The inclusion of driveway parking and a large attic storage area adds valuable practical utility and convenience, which is a significant advantage in a dense urban environment like Los Angeles.

Cons

Limited Bathroom Facilities: The property features only a 1/4 bath, which is insufficient for most residential needs and many commercial operations, potentially requiring costly renovations to meet functional requirements.
Compact Size: With 814 sqft of interior space and a 2009 sqft lot, the property's small footprint may restrict the scale of commercial businesses or limit its appeal as a spacious residential dwelling, especially given the price point.
Significant Price-to-Value Discrepancy: The current listing price of $899,000 is substantially higher than the estimated value of $692,074, which could pose challenges in buyer financing, market absorption, or justifying the value to potential purchasers.

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