4319 Melbourne, Los Angeles, CA 90027

• 4 beds |
• 2 baths

Property 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.

Listing Status:

Active

Date Added:

October 7, 2026

Data Last Updated:

October 8, 2026 at 11:11PM

Listing Office:

Equity Union :

Listing Agent:

Joyce Starleaf : 818-612-0514

MLS ID:

BB26215486

Interior

• A/C: Wall/Window

Exterior

• General: N/K
• Pool: N/K

Construction

• General: 1 Story

Location

• HOA Amenities: 0.0
• Originating MLS: California Regional MLS
• County: Los Angeles

Lot

• Zoning: Assessor5591024021

Financial

• Source: California Regional MLS