506 N Madison Avenue, Los Angeles, CA 90004

About this property

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.

Listing description from the July 2023 sale, as reported to CRMLS.

Sale history

$1,150,000

Sold July 2023 · listed $1,250,000, on market May 2023 · MLS #23273201 · Source: CRMLS

Listing Agent: Jason Tuvia · Listing Office: Marcus & Millichap · Contact: 818-212-2700 · Bought with: Tereza Toramanyan · Coldwell Banker Hallmark

Explore Los Angeles