128 S Madison Avenue, Los Angeles, CA 90004

$1,499,000 Approx. USD 16 beds, 16 baths
12,600 sqft

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Marketed By The Keaty Team

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Agent Remarks

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.

Listing Details

Property type: Single Family Residence (Single Family)

Status: Active

MLS# 25529221

Price: $1,499,000

Beds: 16

Baths: 16 (16 full)

None fireplaces

Built in 1948

12,600 sqft

1 story

0.14 acres