Investment Overview

Marcus & Millichap is pleased to present 6721 Melrose Avenue, a 3,046 square foot vacant office building with a large, single-sided 14x48 billboard, situated on 0.16 acres of land (7,097 SF), ideally located on the NE signalized corner of Melrose Avenue and Mansfield Avenue, well positioned along the Melrose Avenue commercial corridor, with daily traffic counts in excess of 49,000 vehicles per day, in Los Angeles, CA. The subject property is zoned C4-1XL, allowing for future development at this site. 6721 Melrose Avenue is an ideal opportunity for an owner-user Buyer or value-add investor looking to acquire exceptional Melrose Avenue office space. The property is made up of a central open space, 8 individual offices, a spacious conference room, side patio, and enjoys both a street front and rear facing entrance. A Buyer will benefit from an additional income stream from the large, single sided 14x48 billboard, that currently pays $2,000 per month on a month-to-month basis. There is currently an additional income stream from the perimeter signage spanning the west and southern boundaries of the parcel, paying an additional $7,500.00/month, also on a month-to-month basis. The current ownership has undergone initial legwork to redevelop the property into a boutique mixed-use project. The 7,091 SF underlying parcel of land is zoned C4-1XL. Plans have been submitted to develop a 27-unit, six (6) story project with ground floor commercial space. The upscale project is anticipated to have additional amenities like a rooftop deck with fire pits, exercise equipment, automated parcel delivery lockers, and bike storage. 6721 Melrose Avenue benefits from excellent visibility on the NE signalized corner of Melrose Avenue and N Mansfield Avenue, with approximately 80 feet and 90 feet of frontage, respectively. Melrose Avenue is a well-established east-west commercial corridor filled with trendy and desirable retailers and well-regarded restaurants. The well trafficked thoroughfare is exceptionally walkable with a walk score of 92 (a “Walker’s Paradise”) and has traffic counts of more than 49,000 vehicles per day. The property benefits from rear alley access to the building’s six (6) parking spaces in its dedicated parking lot, a parking ratio of 1.97 spaces per 1,000 SF.