817 North Madison Avenue

Los Angeles, CA 90029

$1,150,000
Last Sold Price
12
Beds
7
Baths
5,224 Sq. Ft.
$220 / Sq. Ft.
5,224
Sq. Ft.
$220
per Sq. Ft.

Description

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...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.
  1. Listed by Matthew Lee • DRE #01881080 • Brokerage DRE #01881080 • Lilly Enterprises, Inc.

Property Details for 817 North Madison Avenue

Water Front
None
Zoning
LARD1.5
Accessibility Features
None
Parcel Number
5539015003
Total Units
7.0
Living Area
5224
Source Living Area
Assessor
Area
Silver Lake (671)

Location

Listing Courtesy of Lilly Enterprises, Inc., Matthew Lee, DRE #01881080

Sold By Lyon Stahl Investment Real Estate, Inc., Kelly Giery, DRE #02097805

Add your commute
LISTING UPDATED: 04/27/2021 02:51 PM

Property Details for 817 North Madison Avenue

StatusSold
MLS #21-698046
Days on Market44
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1957
Lot Size0.17 AC / 7,513 SF
CountyLos Angeles County

Location

Listing Courtesy of Lilly Enterprises, Inc., Matthew Lee, DRE #01881080

Sold By Lyon Stahl Investment Real Estate, Inc., Kelly Giery, DRE #02097805

Add your commute

Building Information for 817 North Madison Avenue

Stories2Residences-Year Built1957Building Size-Lot Size0.17 AC / 7,513 SF

Payment Calculator

$7,567 per month

30 year fixed, 7.25% Interest

Principal and Interest

$6,276

Property Taxes

$1,291

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 817 North Madison Avenue

Community / Development
Community / Development
  • Number Of Units: 7
  • Amenities: None
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Assessor
  • Number Of Stories: 2
  • Number Of Buildings: 2
  • Type Of Units: Apartment
  • View: No
  • View Description: None
  • View: None
  • Security Features: Gated
  • Direction Faces: East
  • Property Condition: Fixer, Repair Cosmetic, Repairs Major
  • Water: Water District
  • Sewer: Other
  • Water Heaters: Yes
  • Additions Alterations: No
  • Water Heater Features: Other
Contract Info
Contract Info
  • Probate: No
  • Financing: Other
  • Disclosures: As Is
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $53,671
  • Net Operating Income: $26,671.00
  • Gross Income: $56,496
  • Gross Rent Multiplier: $28.32
  • Actual Annual Gross Rent: $56,496.00
  • Financial Info as Of: 02/25/2021
  • Owner Pays: Electricity, Water
  • Total Annual Expense: 27000
Land / Lot Info
Land / Lot Info
  • Land Lease Type: Fee
  • Land Lease: No
  • Additional Parcel Number: No
  • Alley: Yes
  • Paved: Yes
  • Lot Acreage: 0.1725
  • Lot Size Square Feet: 7513
  • Lot Location: None
Parking Details
Parking Details
  • Parking Garage: Driveway, Driveway - Concrete, Driveway Gate, Gated, On street, Parking Space, Uncovered, Unassigned, Shared Driveway
  • Total Parking: 3
  • Covered Parking: 0
  • Open Other Spaces Total: 3
  • Garage Spaces Total: 0
  • Carport Spaces Total: 0
  • Parking Features: Driveway, Concrete, Gated, Street, Parking Space, Uncovered, Unassigned, Shared Driveway
  • Garage Structures Total: 0.0
Interior Features
Interior Features
  • Rooms: Other
  • Levels: Multi/Split
  • Fireplace Features: None
  • Fireplace Rooms: None
  • Den: No
  • Family Room: 0
  • Dining Room: 0
  • Cooling: None
  • Cooling Type: None
  • Heating: Wall Furnace
  • Heating Type: Wall
  • Flooring: Other
  • Equipment: None
  • Interior Features: None
  • Common Walls: Attached
  • Cooking Appliances: None
  • Laundry: None
  • Disability Access: None
Exterior Features
Exterior Features
  • Pool: No
  • Private Pool: No
  • Pool Description: None
  • Pool Features: None
  • Spa: No
  • Spa: None
  • Tennis: No
  • Tennis Court: None
  • Roof: Flat
  • Sprinklers: None
  • Patio Features: None
  • Entry Location: Other
  • Construction Materials: Other
  • Exterior Construction: Other
  • Foundation Details: None
  • Other Structural Features: Partial Copper Plumbing
  • Other Structures: Shed(s), Other
Lease Terms
Lease Terms
  • Entry Date: 03-02-2021
  • Listing Terms: Contract
  • Rent Control: Yes
  • Tenant Pays: Gas
Unit Details
Unit 1 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $1,500.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $500.00
  • Unit Actual Rent: $500.00
  • Unit Projected Rent: $2,200.00
  • Like Units: 2
Unit 3 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $500.00
  • Unit Actual Rent: $500.00
  • Unit Projected Rent: $1,500.00
  • Like Units: 3
Unit 4 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $618.00
  • Unit Actual Rent: $618.00
  • Unit Projected Rent: $2,200.00
  • Like Units: 4
Unit 5 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $500.00
  • Unit Actual Rent: $500.00
  • Unit Projected Rent: $2,200.00
  • Like Units: 5
Unit 6 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $540.00
  • Unit Actual Rent: $540.00
  • Unit Projected Rent: $2,200.00
  • Like Units: 6
Unit 7 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $550.00
  • Unit Actual Rent: $550.00
  • Unit Projected Rent: $2,200.00
  • Like Units: 7
Unit Details
  • Unit Type Type: 2106, 2107, 2108, 2109, 2110, 2111, 2112
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $94,616.00
  • Assessed Improvement Percent: 68.4
  • Assessed Land Value: $43,702.00
  • Assessed Land Percent: 31.6
  • Assessed Total Value: $138,318.00

Property History for 817 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 817 North Madison Avenue

Taxable ValueLand$837,522Additions$359,258Total$1,196,780
Tax Record2023$15,487 ($1,291 / month)
Home Facts
Total Finished SqFt5,224 SqFtAbove Grade Finished SqFt5,224 SqFtLot Size7,513 SqFtStyleMulti-Family Res (5+ Units)Year Built1957ZoningLARD1.5CountyLOS ANGELESAPN5539-015-003

Schools near 817 North Madison Avenue

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 6
Public - 6 to 8
Public - 9 to 12
Public - K to 2
Rating
School
Distance
Lockwood Avenue Elementary School
PublicK to 6

Thomas Starr King Middle School
Public6 to 8

John Marshall Senior High School
Public9 to 12

Lexington Avenue Primary Center
PublicK to 2

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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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Lilly Enterprises, Inc., Matthew Lee, DRE #01881080

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.