About This Home

This 4-bedroom, 2-bathroom multi-family at 4319 Melbourne in Los Angeles, CA is listed for $1,429,000. Built in 1908, on a 0.16 acres lot.

Key Features

  • Built in 1908
  • 0.15 acre lot
  • 3 parking spaces

Property Details

1 story
2 full
3 spaces
1908

Amenities

A/C
Listing Description

CALLING ALL DEVELOPERS, BUILDERS & SAVVY INVESTORS! RARE Franklin Hills property located in LOS FELIZ this DEVELOPMENT OPPORTUNITY - LARGE, FLAT R2 LOT WITH TWO EXISTING HOMES & IN-PLACE RENTAL INCOME. Unlock the potential of this exceptional Los Feliz property featuring two separate residences on one expansive, flat R2-zoned lot.

With tenants currently in place and generating immediate monthly income, this property offers the rare combination of cash flow today and substantial development potential. Whether your vision is ground-up development, maximizing the existing lot, renovating and repositioning the current residences, or holding a valuable Los Angeles asset for long-

term appreciation, this property presents an exciting opportunity in one of the city's most sought-after neighborhoods. LAND. LOCATION. INCOME. UPSIDE. Opportunities offering all four are increasingly difficult to find. Bring your architects, builders, and investment team and explore the possibilities. This is a true Los Feliz value-add and development play with multiple paths to maximize returns.

Monthly Cost Estimate

$7,643/mo

20% down · 6.5% · 30 years

Principal$1,033
Interest$6,192
Insurance$417

Estimates only. Actual payments may vary.

Location

4319 Melbourne

Los Angeles, CA 90027

Property Details

Heating

Wall Furnace

Cooling

Wall/Window Unit(s)Window Unit(s)

Questions & Answers

This 4-bedroom, 2-bathroom multi-family at 4319 Melbourne is listed at $1,429,000. The estimated monthly payment is $7,643 based on 20% down, a 30-year loan at 6.5% interest, estimated insurance.

Key features include: Built in 1908, 0.15 acre lot, 3 parking spaces.

This property is listed by Joyce Starleaf.

JS

Joyce Starleaf

License 00782682

Agent at Equity Union

Listed by Equity Union · Broker phone: (818) 631-1660 · Broker website

MLS# BB26215486· Source: California Regional Multiple Listing Service, Inc· 25 days on PropertySimple

Copyright © 2026 California Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

4319 Melbourne, Los Angeles, CA 90027

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