Marcus & Millichap Arranges $3.2M Sale of Commercial Asset in Los Angeles’ Melrose District
LOS ANGELES — Marcus & Millichap has arranged the sale of a retail and creative office building located at 6721 Melrose Ave. in Los Angeles’ Melrose district. A limited liability company sold the property to another limited liability company for $3.2 million, or $1,067 per square foot.
Situated on 7,091 square feet of land, the 3,046-square-foot building was delivered vacant. The property offers the redevelopment potential and utilize the current C4 zoning. The asset features 14 parking spaces.
Brandon Michaels of Marcus & Millichap’s Encino, Calif., office represented the seller and the buyer in the deal.