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Multifamily

719 N Madison Ave

719 N Madison Ave, Los Angeles, CA 90029

Listing Price: $1,950,000

Cap Rate
4.26%
Number of Units
7
Price/Unit
$278,571
Price/Gross SF
$497.70
Gross SF
3,918

Investment Overview

Marcus & Millichap, as the exclusive listing agent, is 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.

Investment Highlights

  • A Block Away from Virgil Avenue, 719 North Madison Presents a Value Proposition to Residents Who Want the Urban Amenities of Silverlake and Hollywood but Have Been Priced Out of the Market
  • 22 Percent Remaining Rental Upside Through Further Interior Renovations
  • Low Density Community Featuring Bungalow Style Units
  • Located on a Designated Opportunity Zone and May Be Eligible for Preferential Tax Treatment
  • New Ownership has an Opportunity to Add Additional Units Through the State's Favorable Accessory Dwelling Unit (ADU) Program – Allowing for Added Future Growth and Appreciation Potential
  • On-Site Parking: 5 Total Spaces Plus 2 car Garage

Exclusively Listed By

Financing By

Listing Price: $1,950,000

Cap Rate
4.26%
Number of Units
7
Price/Unit
$278,571
Price/Gross SF
$497.70
Gross SF
3,918

Investment Highlights

  • A Block Away from Virgil Avenue, 719 North Madison Presents a Value Proposition to Residents Who Want the Urban Amenities of Silverlake and Hollywood but Have Been Priced Out of the Market
  • 22 Percent Remaining Rental Upside Through Further Interior Renovations
  • Low Density Community Featuring Bungalow Style Units
  • Located on a Designated Opportunity Zone and May Be Eligible for Preferential Tax Treatment
  • New Ownership has an Opportunity to Add Additional Units Through the State's Favorable Accessory Dwelling Unit (ADU) Program – Allowing for Added Future Growth and Appreciation Potential
  • On-Site Parking: 5 Total Spaces Plus 2 car Garage

Investment Overview

Marcus & Millichap, as the exclusive listing agent, is 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.

Exclusively Listed By

Financing By

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