4917 Melrose, Los Angeles, California 90029, Los Angeles, 90029 - 3 bed, 2 bath
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Los Angeles, California 90029
This Mixed-Use Development Asset presents a Strong Value Opportunity with a List Price of $1,800,000—positioned well below the $1,898,846 Fair Market Value by 5%. This valuation gap offers $98,846 in Instant Equity for buyers targeting high-density corridors. Marketed as a total rehab with a Condition Rating of 5, the property’s value is anchored by its LAC1 Zoning and prime Melrose Avenue visibility. With two rented ADUs providing immediate cash flow, this is a strategic acquisition for Developers or Value-Add Investors.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 4917 Melrose Subject | $1,800,000* List Price | 3 | 2 | 2,810 | $676 | - |
A 1108 N Kenmore Avenue Active | $1,999,900 List Price | 0 | 0 | 2,639 | $758 | 0.8 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1913 and explicitly marketed as a 'fixer-upper' with 'investor/builder potential,' this 111-year-old property requires a total rehab. The 'drive-by only' restriction and visible window AC units suggest outdated systems and significant deferred maintenance.
The LAC1 zoning provides significant versatility for investors and builders, allowing for high-density mixed-use or commercial redevelopment in a prime Los Angeles corridor.
The inclusion of two currently rented ADUs offers immediate cash flow, helping to offset carrying costs while the main structure is renovated or plans are finalized.
Situated on Melrose Avenue, the property benefits from high visibility and a central location with strong appreciation potential and proximity to major metropolitan amenities.
Built in 1913 and marketed as a fixer-upper, the property likely requires a total overhaul of major systems and structure, demanding substantial additional capital.
The 'drive-by only' status indicates potential challenges with interior access or tenant cooperation, increasing the risk for buyers and complicating traditional financing.
Investors/builders potential Zoned LAC1 Fixer upper with 2 ADUs currently rented comes with the sale of the property. Originally with 3 Bedrooms 2 BA 2810 sq ft. Investors/builders potential Zoned LAC1 Fixer upper with 2 ADUs currently rented comes with the sale of the property. Originally with 3 Bedrooms 2 BA 2810 sq ft. Land for retail and business uses low intensity development. Great for stores, office use. Drive by only Pls don't disturb occupants
No exterior & parking available.
Grades K-5 • 0.5 mi
Grades K-5 • 0.5 mi
Grades K-5 • 0.6 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | - | - | 0% |
| Baths | - | - | 0% |
| Square foot | - | - | 0% |
| Lot Size | - | - | 0% |
| Price | - | - | 0% |
| Price per sq ft | - | - | 0% |
| Built year | 1913 | - | 0% |
| HOA | $0 | $0 | 0% |
| Days on market | - | - | 0% |
Apr 21, 2026
$1,800,000
Initial Listing
Sep 30, 2015
$945,000
Public Record