18
See all 18 photos
$1,499,000
Est. payment /mo
16 Beds
16 Baths
12,600 SqFt
New
128 S Madison Avenue Los Angeles, CA 90004
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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 CL25529221
Bedrooms 16
Full Baths 16
HOA Y/N No
Year Built 1948
Lot Size 6,242 Sqft
Acres 0.1433
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
Zoning LAR3
Rooms
Other Rooms Guest House
Interior
Heating Central
Cooling Central Air
Flooring Laminate
Fireplaces Type None
Fireplace No
Appliance Dishwasher, Disposal, Microwave, Refrigerator
Laundry Dryer, Washer
Exterior
Pool None
View Y/N false
View None
Private Pool false
Building
Story 1
Level or Stories One Story
New Construction No
Others
Tax ID 5501015021
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Listed by Arash Pashaei • Keller Williams Beverly Hills
A FEW WORDS FROM PAST CLIENTS
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Mike & Jules Guzzardo Team With Jenny Biczkow
Realtor | r01066846,01955798,02086289