5426 Melrose Ave, Los Angeles, CA 90038
7,000 SF | 100% Leased | Flex Building | Los Angeles, CA 90038 | $5,500,000 ($786/SF)
For Sale
Active
18 pictures
Asking Price $5,500,000
- Property Type
-
Industrial
- Price / Square Foot
- $786
Listing Contacts
Roger Phillips
James Maceo
Ellen Golla
Property Overview
Prime Commercial Property For Sale – 10,124 Sq. Ft. Contiguous Land!
The Phillips Group is pleased to offer this incredible redevelopment corner site with alley access made up of two parcels (APN 5523-025-009 & 012) totaling approximately 10,124 SF (0.23 Acres) of land and 7,000 SF of existing vacant structures.
Properties are located on Melrose Avenue in Los Angeles, CA just across the street from the “Melrose Gate” of the famed Paramount Pictures Studio Lot. The property lays between chic Larchmont Village and bustling Hollywood neighborhoods.
A short drive to the Southwest will land you at the Wilshire Private Country Club or the Los Angeles Tennis Club and a similar distance to the Northeast will take you to the 101 FWY entrance and intersection of Santa Monica Blvd. and Western Ave.
The redevelopment opportunities are abundant with the existing C2-1 zoning, which allows a variety of Commercial uses including Office, Hotel, Clinics, Retail w-Limited Manufacturing, Broadcasting Studios, Restaurants and more at 1.5:1 FAR. C2-1 zoning also allows residential projects via R4 zoning (base density is 400 SF of land/dwelling unit at 3:1 FAR).
Additional Benefits:
Strategic Location: Proximity to major landmarks like the Paramount Pictures Studio Lot and Hollywood Cemetery.
Versatility: Suitable for a wide range of commercial uses, including retail, office, restaurant or residential development.
Planning Incentives – Site is in the “Restaurant Beverage Program Eligible Area” created by the City of Los Angeles for streamlining the process that allows eligible restaurants to sell and serve alcohol.
This property offers great variety for potential redevelopment uses. Don’t miss out on this exceptional commercial real estate opportunity!
The Phillips Group is pleased to offer this incredible redevelopment corner site with alley access made up of two parcels (APN 5523-025-009 & 012) totaling approximately 10,124 SF (0.23 Acres) of land and 7,000 SF of existing vacant structures.
Properties are located on Melrose Avenue in Los Angeles, CA just across the street from the “Melrose Gate” of the famed Paramount Pictures Studio Lot. The property lays between chic Larchmont Village and bustling Hollywood neighborhoods.
A short drive to the Southwest will land you at the Wilshire Private Country Club or the Los Angeles Tennis Club and a similar distance to the Northeast will take you to the 101 FWY entrance and intersection of Santa Monica Blvd. and Western Ave.
The redevelopment opportunities are abundant with the existing C2-1 zoning, which allows a variety of Commercial uses including Office, Hotel, Clinics, Retail w-Limited Manufacturing, Broadcasting Studios, Restaurants and more at 1.5:1 FAR. C2-1 zoning also allows residential projects via R4 zoning (base density is 400 SF of land/dwelling unit at 3:1 FAR).
Additional Benefits:
Strategic Location: Proximity to major landmarks like the Paramount Pictures Studio Lot and Hollywood Cemetery.
Versatility: Suitable for a wide range of commercial uses, including retail, office, restaurant or residential development.
Planning Incentives – Site is in the “Restaurant Beverage Program Eligible Area” created by the City of Los Angeles for streamlining the process that allows eligible restaurants to sell and serve alcohol.
This property offers great variety for potential redevelopment uses. Don’t miss out on this exceptional commercial real estate opportunity!
Property Details
- Year Built/Renovated
- 1936/1940
- Stories
- 2
- Property Subtype
- Flex
- Lot Size (sq. ft)
- 7,405 SF
Highlights
- Corner Location – Corner location with easier ingress/egress
- Alley Access – Alley provides alternate ingress/egress for future use
- Contiguous Parcels- A substantial plot of contiguous land, ideal for various development projects
- Commercial Zoning – C2-1 allows both Commercial and Residential uses.
- DDA – Site is within DDA designated areas that are sought after by affordable housing tax credit developers (Small Difficult Development Area per 2024
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