128 S Madison Ave Los Angeles, CA 90004
Koreatown NeighborhoodEstimated payment $9,155/month
Highlights
- Guest House
- 1 Fireplace
- Central Heating and Cooling System
- Contemporary Architecture
- No HOA
- 1-Story Property
About This Home
Amazing Development Opportunity in Prime Mid-Wilshire area Adjacent to Silver Lake. This exceptional investment opportunity comes with submitted plans for a 13-unit apartment building allowing a savvy investor or developer to save money and time on acquiring the RTI plans. The architectural plans feature 10 spacious 1-bed/1-bath units, 3 premium 2-bed/2-bath units, and 2 recreation rooms, with a total Gross Building Area of 12,600 sqft and Gross Living Area of 7,700 sqft. Additionally, the project qualifies for both the ED1 and CHIP offering significant time and cost-saving development benefits. All the architectural and engineering fees have been paid. The house is currently furnished and rented on month to month basis colleting approximately $4000/month. It can be delivered both vacant or with tenant, allowing an investor to collect rent while working toward RTI. Located just moments from Metro stations, vibrant nightlife, dining, and cultural landmarks, this property sits in one of L.A.'s strongest rental markets.
Home Details
Home Type
- Single Family
Est. Annual Taxes
- $13,000
Year Built
- Built in 1948
Lot Details
- 6,242 Sq Ft Lot
- Lot Dimensions are 52x120
- Property is zoned LAR3
Parking
- Carport
Home Design
- Contemporary Architecture
Interior Spaces
- 12,600 Sq Ft Home
- 1-Story Property
- 1 Fireplace
- Laminate Flooring
Kitchen
- Oven or Range
- Microwave
- Freezer
- Dishwasher
- Disposal
Bedrooms and Bathrooms
- 16 Bedrooms
- 16 Full Bathrooms
Laundry
- Laundry in unit
- Dryer
- Washer
Additional Features
- Guest House
- Central Heating and Cooling System
Community Details
- No Home Owners Association
Listing and Financial Details
- Assessor Parcel Number 5501-015-021
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2024 | $13,000 | $1,051,000 | $800,000 | $251,000 |
| 2023 | $4,067 | $313,202 | $218,549 | $94,653 |
| 2022 | $3,891 | $307,062 | $214,264 | $92,798 |
| 2021 | $3,886 | $301,042 | $210,063 | $90,979 |
| 2019 | $3,727 | $292,116 | $203,834 | $88,282 |
| 2018 | $3,618 | $286,389 | $199,838 | $86,551 |
| 2016 | $3,454 | $275,270 | $192,079 | $83,191 |
| 2015 | $3,405 | $271,136 | $189,194 | $81,942 |
| 2014 | $3,424 | $265,825 | $185,488 | $80,337 |
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 06/04/2025 06/04/25 | For Sale | $1,449,000 | +37.9% | $115 / Sq Ft |
| 08/25/2023 08/25/23 | Sold | $1,051,000 | +0.1% | $796 / Sq Ft |
| 07/26/2023 07/26/23 | Pending | -- | -- | -- |
| 07/19/2023 07/19/23 | For Sale | $1,050,000 | -- | $795 / Sq Ft |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Deed | -- | Chicago Title Company | |
| Grant Deed | $1,051,000 | Chicago Title Company | |
| Quit Claim Deed | -- | None Available | |
| Interfamily Deed Transfer | -- | None Available | |
| Interfamily Deed Transfer | -- | None Available | |
| Quit Claim Deed | -- | Commonwealth Land Title Co | |
| Gift Deed | -- | -- | |
| Grant Deed | $156,000 | Fidelity Title |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $683,000 | New Conventional | |
| Previous Owner | $180,412 | Unknown | |
| Previous Owner | $180,000 | No Value Available | |
| Previous Owner | $124,800 | Purchase Money Mortgage | |
| Closed | $7,800 | No Value Available |
Source: The MLS
MLS Number: 25548167
APN: 5501-015-021
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