Lilly Enterprises, Inc., as the exclusive listing agency, is pleased to present for sale 817 N Madison Avenue, a 7 unit apartment offering in Los Angeles (East Hollywood), CA. Deferred maintenance and under market rents ( 300% in rental upside), present an investor with the possibility to achieve long term growth through turnover and renovation. The property is subject to The City of LA Rent Stabilization Ordinance (RSO), which supersedes the Assembly Bill 1482 "Tenant Protection Act of 2019." The property is not subject to The City of LA Soft-Story Retrofit Program. Two separate structures reside on a single 7,500 SF lot with a triplex in the front and a quad in the rear. There are 3 undesignated and unassigned parking spaces, which can all be gated from the front entry. A large common area patio resides in the rear, which is currently being used as an outdoor fitness space. Plumbing is a combination of galvanized in the front and copper in the rear. The roof was replaced within the last year. Unit sizes range from 675 SF for the 1BR/1BA's and 775 SF for the 2BR/1BA's. Each unit is serviced by individual wall heaters and water heaters. Landlord is responsible for water, sewer and electric. Tenants are responsible for gas.
Additional Features
- Other
- Wall Furnace
- Multi/Split
- None
- Parking spaces: 0.00
- Listing Status: Closed
- Listing Agent: Matthew Lee
(lic# 01881080)
of Beverly Hills/Greater LA
- Listing Office: Lilly Enterprises, Inc.
(lic# 00754144)
- Selling Agent: Kelly Giery
(lic# 02097805)
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Based on information from CRISNet MLS as of 18th December 2024 at 5:57pm. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
