4760 MELROSE AVE, Los Angeles, California
4760 MELROSE AVE, Los Angeles, California 90029 - It is a 33 Unit Apartment project fully entitled and shovel ready, with a small 875 square feet ground floor retail component. This Project has no subterranean parking, 17 spaces at grade and 18 spaces at mezzanine level. The mezzanine spaces are contained within a Type 1 concrete box. The micro units average 375 square feet with potential of a 90 ft sleeping loft. The units feature soaring 15 + foot ceilings, with commanding unobstructed views of the Hollywood Hills / Hollywood Observatory, Downtown LA, and Koreatown Skyline. Micro units have a tremendous demand due to the continued housing shortage and soaring costs for large units. Micro units provide an attractive pricing point, enabling a developer to drive up the price per foot, on rent and create handsome yields. This project is by right with 75 ft height limit, zero setbacks, and very low income units.
Listing Courtesy of BRC Advisors Inc.
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