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$1,479,000 Just Listed

  • For Sale
  • Active
  • Multi-Family
  • Updated 4 days ago
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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.

Full Property Details for 4319 Melbourne

General

  • Price: $1,479,000
  • Status: Active
  • Type: Multi-Family
  • Source: MRMLS
  • MLS ID: BB26215486
  • Updated: 10/8/2026
  • Days on Market: 5 days
  • Added to Site: 5 day(s) ago

Rooms

Other Rooms

  • Laundry: Washer Included, Dryer Included

Additional Information

  • Pool Description: None
  • Spa Description: None

Location

  • Area: 637 - Los Feliz
  • County: Los Angeles
  • Development Name: 637 - Los Feliz
  • Driving Directions: Vermont or Hillhurst to Melbourne, South of Franklin, North of Prospect

Heating & Cooling

  • Cooling Type: Wall/Window Unit(s)
  • Heating Type: Wall Furnace

Utilities

  • Sewer: Public Sewer
  • Water: Public
  • # Water Meters: 1
  • # Gas Meters: 2
  • # Electric Meters: 2

Structural Information

  • Entry Location: front
  • Stories/Levels: One
  • Stories Description: One
  • Square Feet: 1,750
  • Year Built: 1908

Unit Information

Unit 1

  • Number of Units: 1
  • Total Bathrooms: 1
  • Bedrooms: 2

Unit 2

  • Number of Units: 1
  • Total Bathrooms: 1
  • Bedrooms: 2

Lot Features

  • Lot Size (Acres): 0.155
  • Lot Size (Sq. Ft.): 6,750
  • Lot Size Source: Public Records
  • Lot Description: Front Yard

Financial Considerations

  • Price Per Sq. Ft.: $845.14
  • Price Per Unit: 739500

Disclosures and Reports

  • Exclusions: Tenants personal belongings

Listed by Equity Union, Joyce Starleaf

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Listing agent

— 4319 Melbourne —

  • Joyce Starleaf

    Equity Union

818-612-0514

Get Pre-Approved Today

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Schools serving 4319 Melbourne

School District:Los Angeles Unified School District
NameGradesDistance
Franklin Avenue Elementary School
1910 North Commonwealth Avenue, Los Angeles, CA 90027
K-50.2 mi
Thomas Starr King Middle School
4201 Fountain Avenue, Los Angeles, CA 90029
6-80.6 mi
John Marshall Senior High School
3939 Tracy Street, Los Angeles, CA 90027
9-120.5 mi
Disclaimer: School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 4319 Melbourne Get Price Alerts and Save Property

Date
Details
Price
Change
Source
10/07/2026
Listed
$1,479,000
20.73%
MLS
3/17/2025
Sold
$1,225,000
—
Public Record
Get Price Alerts and Save Property
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Tax History for 4319 Melbourne

Year
Property Taxes
Change
Tax Assessment
Change
2025
$2,330
—
$1,249,500
636%
2025
$2,330
1%
$169,806
2%
2024
$2,301
2%
$166,477
2%
2023
$2,261
5%
$163,213
2%
2022
$2,162
2%
$160,013
2%
2021
$2,128
-1%
$156,877
1%
2020
$2,144
4%
$155,270
2%
2019
$2,068
4%
$152,227
2%
2018
$1,985
2%
$149,243
2%
2017
$1,942
3%
$146,317
2%
2016
$1,880
1%
$143,449
2%
2015
$1,854
-1%
$141,295
2%
2014
$1,875
—
$138,528
—
2013
$1,875
—
$137,903
—
View All
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

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with our affiliated lender
NMLS#: 1598647

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Listed by Equity Union, Joyce Starleaf

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Sold by The Tracy Do Team

4319 Melbourne, Los Angeles, CA 90027 (MLS# BB26215486) is a Multi-Family property with 2 units containing 0 bedrooms and 0 full bathrooms. 4319 Melbourne is currently listed for $1,479,000 and was received on October 07, 2026. Want to learn more about 4319 Melbourne? Do you have questions about finding other Multi-Family real estate for sale in Los Feliz? You can browse all Los Feliz real estate or contact a Coldwell Banker agent to request more information.

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