646 N Madison AVE, Los Angeles, CA 90004
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646 N Madison AVE, Los Angeles, CA 90004
646 N Madison AVE, Los Angeles, CA 90004
646 N Madison AVE, Los Angeles, CA 90004
646 N Madison AVE, Los Angeles, CA 90004
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Hyun Jin IM

Hyun Jin IM

+1(213) 550-6273
$ 2,249,000
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Pending

646 N Madison AVE Los Angeles, CA 90004

7,514 Sqft Lot

UPDATED:

Key Details

Property Type Single Family Home, Multi-Family

Sub Type Mixed Use

Listing Status Pending

Purchase Type For Sale

MLS Listing ID SB26039613

HOA Y/N No

Year Built 1988

Lot Size 7,514 Sqft

Property Sub-Type Mixed Use

Property Description

We are pleased to present 646 N Madison Ave, a 10-unit multifamily investment opportunity in the heart of East Hollywood, Los Angeles, featuring 1988 construction and not subject to LA RSO rent control. Situated in an Opportunity Zone and designated TOC Tier 3, the property offers strong long term investment fundamentals with potential density and development advantages. The building totals approximately 7,134 square feet on a 7,513 square foot lot and features a desirable unit mix of (4) one bedroom one bath units and (6) two bedroom one bath units, appealing to a broad tenant base. The asset includes 21 ground level parking spaces, gated tuck under parking access, and a coin operated shared laundry facility, providing both tenant convenience and additional income potential. With solid in place income and approximately 60% upside in rental income, the property presents a compelling value add opportunity. Based on projected market rents, the property offers an estimated 10.26% market cap rate, positioning 646 N Madison Ave as a rare high yield acquisition in one of Los Angeles' most consistently strong rental markets.

Location

State CA

County Los Angeles

Area C18 - Hancock Park-Wilshire

Interior

Fireplace No

Laundry Common Area

Exterior

Carport Spaces 21

Pool None

Community Features Biking, Curbs, Gutter(s), Storm Drain(s), Sidewalks

Total Parking Spaces 21

Private Pool No

Building

Lot Description Rectangular Lot

Story 3

Sewer Public Sewer

Water Public

New Construction No

Others

Senior Community No

Tax ID 5539024008

Acceptable Financing Cash, Cash to New Loan, Conventional, 1031 Exchange

Listing Terms Cash, Cash to New Loan, Conventional, 1031 Exchange

Special Listing Condition Standard

CRMLS Full IDX Feed (MAIN Website Search)
Listed by John Stiegler II Lyon Stahl Investment Real Estate, Inc. 310-447-2213, DRE #01981597

Nearby Locations

Hyun Jin IM

Hyun Jin IM

Broker Associate | License ID: 01989280

+1(213) 550-6273

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646 N Madison AVE