832 N Edinburgh Avenue, Los Angeles, CA 90046
Property
Sold August 2024
Listing Agent: Jason Tuvia (DRE #01772495) · Listing Office: Marcus & Millichap · Contact: 818-212-2700 · Bought with: Jason Tuvia · Marcus & Millichap · MLS #24408745 · Source: CRMLS
About this property
We are pleased to present a ten (10) unit apartment building located at 832 N Edinburgh Avenue in Los Angeles, California. The subject property is located in a prime Melrose location, north of Melrose Avenue and west of N Fairfax Avenue. Built in 1925, this property contains a solid unit mix of six (6) studio / one-bathroom units and four (4) one-bedroom / one-bathroom units. This asset features four (4) covered garage parking spaces that can potentially be converted into up to eight (8) ADU unit(s) under SB 1211 (recently engrossed on June 12th). Tenants will love living in a quiet residential corridor within only a couple miles from the Sunset Strip, numerous fashion and art stores along Melrose Avenue and Fairfax Avenue, The Comedy Store, Melrose Trading Post, Laurel Hardware, Ysabel, and Blue Bottle Coffee. The neighborhood of Melrose attracts many young professionals given the film, fashion, and art industry presence in this location. Melrose is also in the eighth rated submarket for market asking rents and the sixth rated submarket for twelve (12) month unit absorption. Situated in a prime Melrose location, this offering presents an excellent opportunity for any investor to capitalize on a property with tremendous upside potential and the potential to convert the garages into multiple ADU unit(s).
Listing description from the August 2024 sale, as reported to CRMLS.
Sale history