18
See all 18 photos
$1,499,000
Est. payment /mo
6,242 Sqft Lot
New
128 S Madison AVE Los Angeles, CA 90004
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Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID 25532205
HOA Y/N No
Lot Size 6,242 Sqft
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
Interior
Fireplace No
Exterior
View Y/N No
View None
Building
New Construction No
Others
Senior Community No
Tax ID 5501015021
Special Listing Condition Standard
Listed by Arash Pashaei • Keller Williams Beverly Hills
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