817 N Madison Ave, Los Angeles, CA 90029

817 N Madison Ave, Los Angeles, CA 90029

Los Angeles, CA
$2,500,000

Property Description

With 5 out of the 7 units currently available, 817 N Madison Ave, Los Angeles is the perfect value-add opportunity for any investor looking to turn units in this hot market! New buyer would be able to renovate the units immediately and collect top-of-the- market rents. Once the five available units are remodeled, 817 N Madison would operate at a 4.26% CAP and 15.04 GRM. 817 N Madison Ave consists of (5) 2Bed+1Bath and (2) 1Bed+1Bath units. The property is made up of two separate buildings, a 4-plex and tri-plex. The property sits on a 7,513 SF lot and has 5,224 SF of rentable space. The subject property is located in Virgil Village, a sub-market of East Hollywood. 817 N Madison is just minutes away from restaurants/cafes/bars and boutiques.

Property Features

  • Sale Price: $2,500,000
  • Area Size: 5,224 SF
  • Land Area: 7,513 SF
  • Year Built: 1957
  • Listing Date: February 22, 2021
  • Units: 7
  • Current GRM: 15.04
  • Current Cap Rate: 4.26%
  • Market GRM: 11.51
  • Market Cap Rate: 6.35%