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1137 N Madison Avenue, Los Angeles, California 90029, Los Angeles, 90029 - bed, bath

1137 N Madison Avenue, Los Angeles, California 90029 home-pic-0
ACTIVE$1,995,000
1137 N Madison Avenue, Los Angeles, California 90029
0Bed
0Bath
3,678Sqft
12,209Lot
Year Built
1907
Close
-
List price
$2M
Original List price
$2.5M
Price/Sqft
$542
HOA
-
Days on market
-
Sold On
-
MLS number
BB24085737
Home ConditionPoor
Features
View-

About this home

We found 2 Cons,3 Pros. Rank: price - $2.00M(50th), sqft - 3678(67th), beds - undefined(50th), baths - undefined(50th).

Welcome to 1137 N Madison Ave offering a wonderful investment opportunity. This property includes four separate addresses (1137, 1137 ½, 1139, and 1139 ½).  1137 has is 2-story single resident home offering 3 bedrooms and 1 bath plus a water closet. 1137 ½ is a single-family, single-story home with 2 bedrooms and 1 bath. 1139 and 1139 ½ are within a duplex, each with 1 bedroom and 1 bathroom, and each with a single car garage for each unit. With a generous amount of land, the opportunities this property holds for future builds are endless. The property is located within ½ mile of the Vermont/Santa Monica transit station, and is currently zoned for TOC Tier 4, enabling possible advantages to prospective builders (buyer must exercise due diligence in determining all current zoning details and implications). The strategic location is a short drive away from the sought after downtown LA, Echo Park, Los Feliz and West Hollywood area and features a communal garden and park within 500 feet of the property. This property offers a great investment opportunity and lots of potential.

Nearby schools

/10
Lexington Avenue Primary Center
Public,•K-2•0.1mi
4/10
Lockwood Avenue Elementary School
Public,•K-6•0.3mi
3/10
Ramona Elementary School
Public,•K-6•0.6mi
6/10
Dayton Heights Elementary School
Public,•K-5•0.7mi
5/10
Kingsley Elementary School
Public,•K-5•0.7mi
7/10
Los Feliz STEMM Magnet
Public,•K-6•0.8mi
4/10
Alexandria Avenue Elementary School
Public,•K-5•1.1mi
7/10
Dr. Sammy Lee Medical And Health Science Magnet Elementary
Public,•K-5•1.2mi
4/10
Frank Del Olmo Elementary School
Public,•K-6•1.3mi
3/10
Harvard Elementary School
Public,•K-5•1.3mi
4/10
Grant Elementary School
Public,•K-6•1.5mi
6/10
Van Ness Avenue Elementary School
Public,•K-5•1.7mi
5/10
Cahuenga Elementary School
Public,•K-5•1.7mi
6/10
Charles H. Kim Elementary School
Public,•K-5•1.8mi
6/10
Thomas Starr King Middle School
Public,•6-8•0.6mi
5/10
Virgil Middle School
Public,•6-8•1.3mi
3/10
Joseph Le Conte Middle School
Public,•6-8•1.6mi
4/10
Young Oak Kim Academy
Public,•6-8•2.0mi
7/10
John Burroughs Middle School
Public,•6-8•3.3mi
8/10
John Marshall Senior High School
Public,•9-12•1.3mi
4/10
Helen Bernstein High School
Public,•9-12•1.4mi
3/10
Rfk Community Schools-Ambassador-Global Leadership
Public,•6-12•2.3mi
4/10
Rfk Community Schools-Los Angeles High School Of The Arts
Public,•9-12•2.3mi
5/10
Rfk Community Schools- For The Visual Arts And Humanities
Public,•9-12•2.3mi
3/10
Belmont Senior High School
Public,•9-12•2.6mi
6/10
Hollywood Senior High School
Public,•9-12•2.8mi
7/10
Fairfax Senior High School
Public,•9-12•4.1mi
Condition Rating
Poor
The property was built in 1907 and the images show outdated kitchens and bathrooms. The units appear to need substantial repairs and rehabilitation. Given the age and visible condition, a 'poor' rating is appropriate.
Pros & Cons

Pros

Investment Opportunity: The property features four separate units, providing a strong potential for rental income and diversification of revenue streams.
Development Potential: The generous lot size and TOC Tier 4 zoning offer significant opportunities for future development and expansion, subject to buyer due diligence.
Strategic Location: Located near the Vermont/Santa Monica transit station and a short drive from Downtown LA, Echo Park, Los Feliz, and West Hollywood, offering convenient access to amenities and attractions.

Cons

Age of Property: Built in 1907, the property may require ongoing maintenance and potential upgrades to meet modern standards.
Original List Price Reduction: The property's list price has been reduced from its original price, which may indicate challenges in the market or perceived value.

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