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5434 Melrose Ave
0.23 Acres of Commercial Land Offered at £4,303,475 in Los Angeles, CA 90038
Executive Summary
Prime Commercial Property For Sale – 10,124 Sq. Ft. of contiguous land! This site is ideal for new development.
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 is located 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 is located 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 Facts
| Price | £3,521,025 | Property Type | Land |
| Sale Type | Investment | Property Subtype | Commercial |
| Sale Conditions | Development Sale | Total Lot Size | 0.06 AC |
| No. Lots | 1 |
| Price | £3,521,025 |
| Sale Type | Investment |
| Sale Conditions | Development Sale |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Total Lot Size | 0.06 AC |
1 Lot Available
Lot
| Price | £4,303,475 | Lot Size | 0.23 AC |
| Price Per AC | £18,516,340 |
| Price | £4,303,475 |
| Price Per AC | £18,516,340 |
| Lot Size | 0.23 AC |
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Walk Score ®
Very Walkable (81)
Bike Score ®
Very Bikeable (72)
PROPERTY TAXES
| Parcel Number | 5523-025-012 | Improvements Assessment | £455,730 |
| Land Assessment | £100,017 | Total Assessment | £555,747 |
PROPERTY TAXES
Parcel Number
5523-025-012
Land Assessment
£100,017
Improvements Assessment
£455,730
Total Assessment
£555,747
zoning
| Zoning Code | C2-1 (C2-1 zoning also allows residential projects via R4 zoning (base density is 400 SF of land/dwelling unit at 3:1 FAR)) |
| C2-1 (C2-1 zoning also allows residential projects via R4 zoning (base density is 400 SF of land/dwelling unit at 3:1 FAR)) |
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Ellen Golla -
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5434 Melrose Ave
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