Maher Commercial Realty is proud to present two rare and distinct commercial investment opportunities located in two of Los Angeles’ most in-demand neighborhoods: East Hollywood and Sherman Oaks. Whether you’re a developer, investor, or owner-user, these properties offer long-term upside through value-add repositioning, redevelopment, and strategic land banking.
The first opportunity is located at 4318 Melrose Avenue and 658 Heliotrope Drive, offered at a combined price of $8,900,000. This corner site includes two parcels: $7,400,000 allocated to the Melrose multi-tenant retail and office building, and $1,500,000 allocated to the adjacent Heliotrope parking parcel. Together, the site spans 27,526 square feet and presents a unique opportunity to develop up to 241 residential units in a highly desirable part of East Hollywood. The Melrose parcel includes a 13,540-square-foot retail and office building situated on 17,926 square feet of land. This parcel alone can support the development of up to 150 units through the CHIP TOIA Tier 2 incentive program. The adjacent Heliotrope parcel, which currently serves as parking, can support an additional 91 units using ED-1 or 55 units through AB 2335.
The existing building on Melrose consists of seven units, five of which are leased on short-term gross or modified gross leases. Two units are currently vacant, and all existing leases are set to expire within the next year, giving investors the flexibility to reposition, redevelop, or blend and extend for higher income. The site also includes a total of 38 parking spaces, including an additional lot located across the alley. Strategically located at the intersection of Melrose Avenue and Heliotrope Drive, the property benefits from excellent visibility, strong traffic counts, and convenient access just two blocks from the 101 Freeway. It’s ideally situated between two Metro Red Line stations, offering direct connectivity to Downtown Los Angeles, North Hollywood, and Koreatown. The neighborhood continues to evolve, with local attractions including a nearby theater, art galleries, and the trendy Virgil Village dining scene featuring destinations like Sqirl, Courage Bagels, Budonoki, Melody, and Voodoo Vin. Erewhon Silver Lake is just a five-minute drive away, further enhancing the area’s appeal.
This offering presents an exceptional opportunity to land bank a large, visible corner site in one of Los Angeles’ most vibrant and fast-growing neighborhoods, with zoning (LAC2 and LAR3) that supports significant future development and an existing income stream that can be optimized in the near term.Click here for more information on 4318-4330 Melrose Avenue.
The second property is located at 13831 Ventura Boulevard in Sherman Oaks and represents a rare value-add retail and warehouse opportunity along one of the Valley’s most active commercial corridors. Ideally located at the corner of Ventura Boulevard and Matilija Avenue, this site offers a total of 4,480 square feet of building area on a 4,598-square-foot lot. The structure includes a 1,250-square-foot storefront, which is currently leased at below-market rent with less than a year remaining on the lease, and a 3,230-square-foot warehouse, which is currently vacant. The warehouse, which has experienced some fire damage, features high ceilings and direct street access via a large ground-loading door on Matilija Avenue, making it ideal for a range of potential commercial uses.
Having a warehouse of this size in central Sherman Oaks is extremely rare and makes the property especially appealing to businesses needing a combined showroom and storage space. Previous uses have included automotive, sign and printing shops, light manufacturing, wholesale, and entertainment-related operations. The property also includes ancillary income from an on-site billboard, currently leased on a month-to-month basis at below-market rent. There is potential for additional income by bringing this lease to market rate or renegotiating with new terms.
Zoned LAC2, the property offers flexibility for a variety of commercial applications. The location boasts excellent visibility with 120 feet of street frontage on Ventura Boulevard and a Walk Score of 87, thanks to its pedestrian-friendly surroundings. It sits directly across the street from three popular restaurants—Pizzana, BLVD Steak, and Sweet Butter Café—and is easily accessible from both the 101 and 405 freeways.
For investors seeking stable income with repositioning potential, or for owner-users looking for a well-located retail and warehouse space in an established market, 13831 Ventura Boulevard presents a compelling opportunity to acquire a flexible asset in one of Los Angeles’ strongest commercial corridors.Click here for more information on 13831 Ventura Blvd.
These two properties offer distinct but equally valuable investment profiles. 4318 Melrose provides scale, zoning, and development potential in a centrally located urban neighborhood, while 13831 Ventura offers versatility, frontage, and upside in a retail-heavy district with very limited industrial space. Whether your strategy is to develop, lease up, or reposition, both assets represent the kind of opportunity that rarely comes to market.
For more information or to schedule a private tour, contact Maher Commercial Realty today.
Two Investment Gems in LA: Redevelopment Potential Meets Retail Versatility
