Just Listed

1005-17 N Madison Ave | Los Angeles, CA 90026

List Price

Total Units

Cap Rate

GRM

Property Highlights

  • Ideally situated in an Opportunity Zone, allowing Buyer to be eligible for significant tax benefits associated with the scope of work and total spent by Seller on capital expenditures needed to qualify for Opportunity Zone tax advantages
  • Buyer will benefit from Seller’s extensive renovation and overhaul of systems – Seller invested approximately $900K renovating the property to include all new HVAC, plumbing, electrical, laundry hook-ups, flooring, windows, lighting, doors, modern appliances and fixtures
  • Excellent owner/user asset – Buyer has the chance to occupy office space within the property and lease the remaining suites to offset mortgage/collect cash flow
  • 8 spacious turnkey suites with open floor plans, high ceilings, ample natural light and exposed brick; ideal for attracting creative workspaces and boutique businesses
  • Situated on the border of the trendy Silver Lake and Virgil Village neighborhoods and near popular shops and restaurants on Virgil Avenue and a short drive to Sunset Blvd
  • One block from the Vermont/Santa Monica Metro Station
  • Each unit has a glass store-front entrance and private back entrance, kitchen hookups and private bathrooms
  • Currently in lease-up with 7 of 8 units vacant, Owner is currently negotiating with several qualified prospective tenants.
  • Minutes from the 101 Freeway