719 North Madison Avenue

Los Angeles, CA 90029

$1,890,000
Last Sold Price
8
Beds
7
Baths
3,918 Sq. Ft.
$482 / Sq. Ft.
3,918
Sq. Ft.
$482
per Sq. Ft.

Description

I am pleased to offer the opportunity to acquire 719 North Madison Avenue, a seven-unit multifamily community located in the thriving Virgil Village neighborhood of Los Angeles. Virgil Village provides a unique edge and array of popular eateries and locally owned retail which makes this neighborhood one of the most sought-after markets in Los Angeles. The subject property is an appealing bungalow-style apartment community that has been well-maintained by current ownership. Constructed in 1924, the...I am pleased to offer the opportunity to acquire 719 North Madison Avenue, a seven-unit multifamily community located in the thriving Virgil Village neighborhood of Los Angeles. Virgil Village provides a unique edge and array of popular eateries and locally owned retail which makes this neighborhood one of the most sought-after markets in Los Angeles. The subject property is an appealing bungalow-style apartment community that has been well-maintained by current ownership. Constructed in 1924, the property consists of six one-bedrooms and one two-bedroom unit on a 6,398 square foot lot. The property is also located in an opportunity zone which is expected to draw significant capital into the market and drive rents and values.
  1. Listed by Sean Rosenzweig • DRE #01406343 • Brokerage DRE #01240999 • Marcus & Millichap

Property Details for 719 North Madison Avenue

Zoning
LARD1.5
Parcel Number
5539021002
Total Units
7.0
Living Area
3918
Source Living Area
Assessor
Area
Silver Lake (671)
Vacancy Rate
None
Lot Size Area
6398

Location

Listing Courtesy of Marcus & Millichap, Sean Rosenzweig, DRE #01406343

Sold By Keller Williams Hollywood Hills, Jason Woodruff, DRE #01720468

Add your commute
LISTING UPDATED: 08/09/2022 03:58 PM

Property Details for 719 North Madison Avenue

StatusSold
MLS #21-793234
Days on Market231
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1924
Lot Size0.15 AC / 6,398 SF
CountyLos Angeles County

Location

Listing Courtesy of Marcus & Millichap, Sean Rosenzweig, DRE #01406343

Sold By Keller Williams Hollywood Hills, Jason Woodruff, DRE #01720468

Add your commute

Building Information for 719 North Madison Avenue

Stories2Residences-Year Built1924Building Size-Lot Size0.15 AC / 6,398 SF

Payment Calculator

$12,289 per month

30 year fixed, 7.25% Interest

Principal and Interest

$10,315

Property Taxes

$1,974

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 719 North Madison Avenue

Community / Development
Community / Development
  • Number Of Units: 7
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Assessor
  • Number Of Stories: 2
  • Number Of Buildings: 1
  • Type Of Units: Residential
Contract Info
Contract Info
  • Probate: No
  • Disclosures: None
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $128,343
  • Net Operating Income: $82,973.00
  • Gross Income: $132,312
  • Cap Rate: 4.26%
  • Gross Rent Multiplier: $14.74
  • Total Annual Expense: 45370
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.1466
  • Lot Size Square Feet: 6398
Parking Details
Parking Details
  • Parking Garage: Garage, Uncovered
  • Total Parking: 7
  • Parking Features: Garage, Uncovered
Interior Features
Interior Features
  • Cooling Type: Other
  • Heating Type: Other
  • Equipment: Other
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 10-08-2021
Unit Details
Unit 1 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,200.00
  • Unit Actual Rent: $2,200.00
  • Unit Projected Rent: $2,450.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,482.00
  • Unit Actual Rent: $1,482.00
  • Unit Projected Rent: $1,850.00
  • Like Units: 1
Unit 3 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,470.00
  • Unit Actual Rent: $1,470.00
  • Unit Projected Rent: $1,850.00
  • Like Units: 1
Unit 4 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,600.00
  • Unit Actual Rent: $1,600.00
  • Unit Projected Rent: $1,850.00
  • Like Units: 1
Unit 5 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,600.00
  • Unit Actual Rent: $1,600.00
  • Unit Projected Rent: $1,850.00
  • Like Units: 1
Unit 6 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,600.00
  • Unit Actual Rent: $1,600.00
  • Unit Projected Rent: $1,850.00
  • Like Units: 1
Unit 7 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,074.00
  • Unit Actual Rent: $1,074.00
  • Unit Projected Rent: $1,850.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108, 2109, 2110, 2111, 2112
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $495,875.00
  • Assessed Improvement Percent: 43.25
  • Assessed Land Value: $650,764.00
  • Assessed Land Percent: 56.75
  • Assessed Total Value: $1,146,639.00

Property History for 719 North Madison Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 719 North Madison Avenue

Taxable ValueLand$1,000,000Additions$891,100Total$1,891,100
Tax Record2023$23,693 ($1,974 / month)
Home Facts
Total Finished SqFt3,918 SqFtAbove Grade Finished SqFt3,918 SqFtLot Size6,385 SqFtStyleMulti-Family Res (5+ Units)Year Built1924ZoningLARD1.5CountyLOS ANGELESAPN5539-021-002

Schools near 719 North Madison Avenue

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Charter - 9 to 12
Rating
School
Distance
Dayton Heights Elementary School
PublicK to 5

Thomas Starr King Middle School
Public6 to 8

John Marshall Senior High School
Public9 to 12

Camino Nuevo High No. 2
Charter9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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Similar Sold Homes

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Listing Courtesy of Marcus & Millichap, Sean Rosenzweig, DRE #01406343

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.