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506 Madison Avenue
Los Angeles, CA 90004
Sold
506 Madison Avenue
Los Angeles, CA 90004
Sold
We are pleased to present a four (4) unit apartment building located at 506 N Madison Avenue in Los Angeles, California. The subject property is situated in a good East Hollywood location two (2) blocks outside Silver Lake, south of Melrose Avenue and west of N Virgil Avenue. Built in 1963, this property contains a streamlined unit mix of four (4) two-bedroom / one-bathroom units. These bright units feature tons of windows letting in natural light. Each room is spacious and well kept with lots of built-in closet space. The kitchens feature Terra Cota tiles, a stove/oven combo, refrigerator, and tons of dark wood cabinet space. The four (4) units sit in a near 3,500 SF building on a near 5,000 SF lot. This lot is gated and secure with controlled entry access. The property features plenty of onsite parking with four (4) spots in back and two (2) additional spots in front. There is ample space to add up to two (2) ADU unit(s). Residents of the subject property enjoy the dominant access to nearby commercial corridors and outdoor space. Tenants can walk two (2) blocks north to Melrose Ave to visit It's Boba Time, Tasty's Juice Bar, Going Underground Records, and the LA Museum of Love. Outdoor recreation is available right across the street at Madison West Park, a quaint green space with a newer playground. Situated just two (2) blocks from Silver Lake, this offering presents an excellent opportunity for any investor capitalize on a highly leveraged 30-year fixed residential loan with a possible owner-user play.
PROPERTY INFORMATION
| MLS # | 23273201 | Lot Size | 4,998 Sq. Ft. |
| HOA Fees | $0/Monthly | Property Type | N/A |
| Price | $ 1,250,000
Price Per SqFt: $ 358 |
DOM | 737 Days |
| Address | 506 Madison Avenue | Type | Residential Income |
| City | Los Angeles | Sq.Ft. | 3,496 Sq. Ft. |
| Postal Code | 90004 | Garage | N/A |
| County | Los Angeles | Year Built | 1963 |
| Bed / Bath | 8 / 0 | Parking | 4 |
| Built In | 1963 | Status | Closed |
| Sold Date | 2023-07-27 |
INTERIOR FEATURES
| Has Appliances | Yes |
| Kitchen Appliances | Refrigerator |
| Has Heating | Yes |
| Heating Information | Wall Furnace |
| Has Spa | No |
| SpaDescription | None |
| SecuritySafety | Gated Community |
EXTERIOR FEATURES
| Has Pool | No |
| Pool | None |
WALKSCORE
Walk Score: 83 (Very Walkable)
Transit Score: 64 (Good Transit)MAP
MORTGAGE CALCULATOR
- Principal & Interest:
- Property Tax: $1,333
- Home Insurance:$119
- HOA Fees:$0
- Mortgage Insurance:
PRICE HISTORY
| Date | Event | Price |
| 06/05/2023 | Active Under Contract | $1,250,000 |
| 05/23/2023 | Listed | $1,250,000 |
Topfind Realty
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(844)-333-8033
Questions? Contact today.
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Listing provided courtesy of Jason Tuvia, Marcus & Millichap. Based on information from California Regional Multiple Listing Service, Inc. as of #Date#. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
