128 S Madison AVE new Save Request In-Person Tour Request Virtual Tour
Los Angeles,CA 90004
Key Details
Property Type Single Family Home
Sub Type Single Family Residence
Listing Status Active
Purchase Type For Sale
Square Footage 12,600 sqft
Price per Sqft $118
MLS Listing ID 25529221
Bedrooms 16
Full Baths 16
HOA Y/N No
Year Built 1948
Lot Size 6,242 Sqft
Property Sub-Type Single Family Residence
Property Description
Amazing Development Opportunity in Prime Mid-Wilshire area Adjacent to Silver Lake. This exceptional investment opportunity comes with submitted plans for a 13-unit apartment building allowing a savvy investor or developer to save money and time on acquiring the RTI plans. The architectural plans feature 10 spacious 1-bed/1-bath units, 3 premium 2-bed/2-bath units, and 2 recreation rooms, with a total Gross Building Area of 12,600 sqft and Gross Living Area of 7,700 sqft. Additionally, the project qualifies for both the ED1 and CHIP offering significant time and cost-saving development benefits. All the architectural and engineering fees have been paid. The house is currently furnished and rented on month to month basis colleting approximately $4000/month. It can be delivered both vacant or with tenant, allowing an investor to collect rent while working toward RTI. Located just moments from Metro stations, vibrant nightlife, dining, and cultural landmarks, this property sits in one of L.A.'s strongest rental markets.
Location
State CA
County Los Angeles
Area C17 - Mid-Wilshire
Zoning LAR3
Rooms
Other Rooms Guest House
Interior
Heating Central
Cooling Central Air
Flooring Laminate
Fireplaces Type None
Furnishings Furnished Or Unfurnished
Fireplace Yes
Appliance Dishwasher,Disposal,Microwave,Refrigerator,Dryer,Washer
Exterior
Parking Features Carport
Pool None
View Y/N No
View None
Private Pool No
Building
Story 1
Entry Level One
Level or Stories One
Additional Building Guest House
New Construction No
Others
Senior Community No
Tax ID 5501015021
Special Listing Condition Standard